Reuters US Business

(Reuters) -Chipmaker Micron Technology beat estimates for third-quarter revenue on Wednesday, driven by a surge in demand for its memory chips from the booming AI industry and improved pricing in other markets. However, shares of the Idaho-based firm fell 7.2% in extended trading after it forecast fourth-quarter revenue largely in line with expectations. Investors had …

Micron Technology beats estimates for third-quarter revenue on AI chip demand Read More »

By Ankika Biswas, Lisa Pauline Mattackal and Carolina Mandl (Reuters) -Major U.S. stock indexes closed with modest gains on Wednesday after a choppy trading session, with investors holding their cards close to the vest ahead of a presidential debate and an inflation report closely watched by Federal Reserve policy makers. “We’re in this kind of …

Wall Street ends slightly up, trade choppy ahead of inflation data Read More »

(Reuters) -The Federal Aviation Administration (FAA) said it is adopting a new airworthiness directive for 13 Boeing 757-200 airplanes of U.S. registry over reports of cracking in the structure in and around the lavatory service panel. Airworthiness directives are legally enforceable regulations issued by the FAA to correct an unsafe condition in a product. The …

US FAA adopts airworthiness directive for 13 Boeing 757-200 US planes Read More »

By Lisa Baertlein and Ananta Agarwal (Reuters) -FedEx forecast fiscal 2025 profit above analysts’ estimates on Tuesday, anticipating that the cost reductions planned for the year would deliver margin gains even as revenue remains challenged by lackluster demand for parcel shipping. Shares of FedEx were up 14.9% at $294.50 in extended trading after the delivery …

FedEx eyes fiscal 2025 profit just above Wall St target, shares soar Read More »

By Nora Eckert and Nathan Gomes (Reuters) -CDK Global does not expect the cyber attack-led ongoing outage in its dealer management software, used by dealers across the United States, to be restored before the end of the month, according to a memo seen by Reuters on Tuesday. The car industry technology and software provider would …

CDK auto dealer software unlikely to be restored before June end, memo says Read More »

(Reuters) -Investment firm KKR acquired a portfolio of 18 multifamily real estate assets on Tuesday from a closed end fund sponsored by developer Quarterra Multifamily for about $2.1 billion. The portfolio includes 5,200 units across California, Washington, Florida, Texas, Georgia, North Carolina, Colorado and New Jersey. The global commercial property industry, in particular offices, is …

KKR acquires $2.1 billion portfolio of multifamily real estate assets from Quarterra Read More »

By David Shepardson WASHINGTON (Reuters) -General Motors robotaxi unit Cruise said on Tuesday it has named a former xBox founding engineer as the new CEO of U.S. automaker’s troubled self-driving vehicle company. Marc Whitten will take over as chief executive on July 16, Cruise announced. Cruise has had two co-presidents running the company since Kyle Vogt …

GM self-driving unit Cruise names new CEO as it seeks turnaround Read More »

(Reuters) – Social media platform Reddit said on Tuesday it will update a web standard used by the platform to block automated data scraping from its website, following reports that AI startups were bypassing the rule to gather content for their systems. The move comes at a time when artificial intelligence firms have been accused …

Reddit to update web standard to block automated website scraping Read More »

By Sinéad Carew and Ankika Biswas (Reuters) -The Nasdaq rallied 1.3% on Tuesday, buoyed by strength in Nvidia and other tech megacaps, while the Dow slipped as retailers weighed and investors waited for crucial inflation data due out this week. AI chip firm Nvidia climbed 6.8%, bouncing back after a three-session sell-off, and the broader …

Nasdaq ends higher on tech strength; Dow pulls back Read More »