Peloton CEO Barry McCarthy to Step Down Amid Fresh Layoffs

An activist investor had called for McCarthy's ouster and for the fitness-equipment maker to sell itself. 


 
SEC Ends Probe of Trades Before Activision-Microsoft Merger With No Action

Regulators ended an investigation into bets that Barry Diller and others made on Activision Blizzard before the videogame company agreed to be acquired by Microsoft. 


 
ConocoPhillips's production narrowly beats analyst estimate, but profit falls slightly short

Shares ticked up premarket as the company says it plans to return $9 billion to shareholders through dividends and stock buybacks in 2024. 


 
FTC Says Ex-Pioneer CEO Tried to Collude With OPEC on Oil Prices

The allegations come as Exxon Mobil struck an agreement with antitrust enforcers not to add the former Pioneer CEO to its board, allowing Exxon to close a deal to acquire Pioneer. 


 
Oracle Looks to AI and Microsoft Partnership to Lift Cloud Business

The tech company hopes an AI update to its flagship database software and the recent expansion of its Microsoft collaboration will boost cloud sales. 


 
Shake Shack beats profit expectations as sales trends improve each month

Shake Shack Inc. on Thursday reported first-quarter profit that beat expectations and nudged up its full-year outlook, as improved margins helped offset revenue and same-Shack sales that came up a bit short. 


 
Universal Music Artists to Return to TikTok After New Licensing Deal

The deal comes after the companies failed to reach an agreement, prompting Universal to pull all of its artists' songs off TikTok at the beginning of February. 


 
Shell Launches $3.5 Billion Buyback

Shell's first-quarter adjusted earnings fell by less than expected, and the oil major kicked off a share buyback as it hurried to close the valuation gap to its U.S. rivals. 


 
Wegovy Sales More Than Double as Demand Soars

Novo Nordisk raised its full-year guidance to reflect better pricing in the U.S. and as global demand for its hit weight-loss and diabetes drugs continues to outstrip supply. 


 
Wayfair's New Strategy Looks Built to Last

Cost cuts and bet on physical stores should pay off.


(END) Dow Jones Newswires

05-02-24 1315ET