S&P, Dow eke out another record closing high as Nvidia momentum endures

By David French (Reuters) – The S&P 500 and Dow Jones Industrial Average eked out another closing record high on Friday, with all three Wall Street benchmarks scoring weekly gains, as artificial intelligence stocks had enough steam to keep the rally chugging along. AI poster child Nvidia advanced again, rising 0.4%, and briefly traded above […]

Analysis-Global trade rift widening as Ukraine war passes two-year mark

By Philip Blenkinsop BRUSSELS (Reuters) – Two years after Russia’s invasion of Ukraine, there are clear signs that the global economy is fragmenting into two separate blocs and that multilateral trade rules that have underpinned commerce for nearly 30 years are under threat. Rising geopolitical tensions, including in the Middle East, and concerns over economic […]

Reddit plans to reserve shares for its big users in IPO, WSJ reports

(Reuters) -Social media platform Reddit plans to sell a chunk of its IPO shares to its platform’s users, the Wall Street Journal reported on Wednesday. It aims to reserve an as-yet-undetermined number of shares for 75,000 of its most prolific so-called redditors when it goes public next month, the report said, citing people familiar with […]

Stocks close lower as Nvidia weighs ahead of earnings

By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks ended lower on Tuesday, with the Nasdaq showing the largest declines as chipmaker Nvidia stumbled ahead of its highly awaited earnings report, while gains in Walmart kept losses on the Dow Industrials in check. Shares of the chip designer Nvidia tumbled 4.35%, it’s biggest daily percentage fall […]

Paramount Discussed Streaming Deal with Comcast, WSJ reports

(Reuters) -Paramount Global recently held talks with Comcast on joining forces for a streaming deal, the Wall Street Journal reported on Friday, citing people familiar with the matter. The two companies discussed a streaming partnership or joint venture for Paramount+ and Peacock, among several strategic options Paramount was pursuing, the report said. The development comes […]

Pfizer agrees to pay $93 million to settle Lipitor antitrust lawsuit

By Mike Scarcella (Reuters) – Pfizer has agreed to pay $93 million to settle antitrust claims by wholesale drug distributors that accused it of conspiring with India’s Ranbaxy Laboratories to delay sales of less expensive, generic versions of the cholesterol drug Lipitor. Attorneys for Lipitor purchasers including Rochester Drug Co-Operative Inc and Puerto Rico’s Drogueria […]

KKR to acquire a stake in health tech firm Cotiviti

(Reuters) -Private equity firm KKR & Co has agreed to acquire a stake in Cotiviti from investment manager Veritas Capital, the healthcare technology firm said on Wednesday. KKR and Veritas will have equal ownership stakes in Cotiviti following the deal’s closure, expected in the second quarter of 2024. The financial details about the transaction, which […]

Paramount Global to lay off about 800 employees – source

By Samrhitha A and Jaspreet Singh (Reuters) -Paramount Global is laying off about 800 employees or roughly 3% of its workforce, a person familiar with the matter said on Tuesday, as the media company looks to cut costs and return to earnings growth this year. The affected workers who are based in the United States […]

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S&P, Dow eke out another record closing high as Nvidia momentum endures

February 23, 2024

By David French (Reuters) – The S&P 500 and Dow Jones Industrial Average eked out another closing record high on Friday, with all three Wall Street benchmarks scoring weekly gains, as artificial intelligence stocks had enough steam to keep the rally chugging along. AI poster child Nvidia advanced again, rising 0.4%, and briefly traded above […]
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