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. 


 
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. 


 
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 stock jumps after  loss narrows, with quarter ending 'on an upswing'

For the first time since before the onset of the COVID-19 pandemic, Wayfair is "seeing suppliers introducing large groups of new products into their catalogs," the company said. 


 
Novartis to pay up to $1.75 billion for U.S. cancer-focused biotech

Novartis on Thursday said it will pay up to $1.75 billion for a U.S. biotech focused on cancer. 


 
Moderna posts better-than-expected quarterly results as it looks to fall RSV vaccine launch

Moderna on Thursday reported a narrower-than-expected first-quarter loss as the COVID vaccine maker looks launch its second product in the U.S. later this year. 


 
Kellanova's profit falls short of estimates but company strikes bullish tone

Kellanova, the packaged-food giant spun out of the former Kellogg, cited "tangible signs that this year's return to full commercial activity is taking hold in the marketplace."


(END) Dow Jones Newswires

05-02-24 1115ET