Meta's Costs Rise Rapidly as Zuckerberg Vows to Keep Spending on AI Arms Race

Meta Platforms reported record first-quarter sales, building on AI momentum in its ad business, although investors soured on forecasts of rising costs. 


 
IBM to Buy HashiCorp in $6.4 Billion Deal

IBM will pay $35 a share for the cloud-software company in cash, giving the company access to HashiCorp's roster of some 4,400 clients. 


 
Goldman Sachs and Bank of America shareholders reject proposals to separate chair and CEO roles

Votes mark victories for Goldman's David Solomon and Bank of America's Brian Moynihan. 


 
SK Hynix Returns to Net Profit After Five-Quarter Losing Streak

The company is gaining from the artificial-intelligence boom that has boosted demand for more advanced and high-end memory chips. 


 
McKinsey Under Criminal Investigation Over Opioid-Related Consulting

Justice Department is investigating the consulting firm's advice to manufacturers of OxyContin and other opioid products. 


 
Ford stock rises as EV losses are held in check and hybrid sales surge

Carmaker reports a better-than-expected quarter, and EV losses were around Wall Street expectations. 


 
Moncler Sales Beat Forecasts Amid Solid Demand in China

The Italian luxury-fashion company said revenue for the Moncler brand grew 26% in Asia. 


 
Michelin Backs Targets After Weaker Demand Hurts Sales

Sales for the French tire manufacturer fell to EUR6.64 billion from EUR6.96 billion in the first quarter of last year. 


 
Blackstone to Buy Franchiser Tropical Smoothie Cafe

The deal values the smoothie chain at around $2 billion, including debt. 


 
Amazon Introduces Custom AI Capabilities in Race Against Cloud Rivals

The company's cloud-computing unit hasn't made as big a splash as its rivals in AI, betting instead that businesses want to use a variety of AI models.


(END) Dow Jones Newswires

04-24-24 2115ET