Reuters US Business

(Reuters) -Semiconductor equipment maker Applied Materials on Thursday forecast first-quarter revenue above Wall Street estimates, helped by a recovery in the personal computer market and rising demand for artificial intelligence tools. The company’s shares fell more than 6% after the bell following a Reuters report that Applied Materials is under U.S. criminal investigation for potentially …

Applied Materials forecasts first-quarter revenue ahead of estimates Read More »

(Reuters) – Gap on Thursday forecast holiday-quarter sales below expectations, signaling weak demand for its Banana Republic and Athleta brands heading into the all-important shopping season. The once sought-after apparel maker has seen falling sales at all four of its major brands this year as sticky inflation forced lower-income customers to tighten spending, while other …

Gap sees bleak holiday-quarter sales as Banana Republic, Athleta demand falters Read More »

(Reuters) – The California Public Utilities Commission (CPUC) on Thursday will vote on the state’s biggest utility Pacific Gas and Electric’s request to increase its base rate. PG&E, which serves more than 16 million people across 70,000 square miles in Northern and Central California, aims to utilize the higher rates to boost revenue to aid …

California regulator to decide on PG&E base rate hike request Read More »

By Sinéad Carew and Shristi Achar A (Reuters) – The Dow Jones Industrial Average closed down slightly on Thursday, with pressure from Cisco and Walmart after disappointing forecasts. Shares of Cisco Systems tumbled as the communications and networking technology company cut its full-year revenue and profit forecasts on slowing demand for its networking equipment. Also …

Wall St dips, rally takes breather as Cisco and Walmart drag Read More »

By Chibuike Oguh NEW YORK (Reuters) – Shares of Intel rose by more than 6% on Thursday, hitting their highest level in 17 months, after analysts at Mizuho Securities upgraded the semiconductor giant to “buy,” citing prospects of increased revenue from forthcoming chips and new production facilities. Intel is set to unveil new data center …

Intel jumps to 17-month high after Mizuho analyst upgrade Read More »

(Reuters) -Walgreens Boots Alliance will close nearly all of its stores and pharmacies on Thanksgiving Day for the first time in the chain’s history, amid pushback from pharmacists and technicians over poor work conditions and under-staffing. Peer CVS Health also said it plans to shut all of its non-24-hour pharmacy locations early next Thursday, while …

Walgreens to close nearly all pharmacies on Thanksgiving for first time Read More »

By Sinead Cruise, Elena Fabrichnaya and Alexander Marrow LONDON/MOSCOW (Reuters) – Western investors in Russian companies are bracing for a new presidential decree under consideration in Moscow which they fear could force them to sell their shareholdings to the Russian government at big discounts. The potential decree, which could give Russia a “super pre-emptive right” …

Analysis-Western investors spooked as Moscow mulls compulsory share purchase plan Read More »

By Supantha Mukherjee STOCKHOLM (Reuters) – Spotify, on Thursday, expanded its partnership with Google Cloud to use large language models (LLMs) to help identify a user’s listening patterns across podcasts and audiobooks in order to suggest tailor-made recommendations. Artificial intelligence-powered LLMs such as OpenAI’s ChatGPT and Google Bard, are trained on a massive amount of …

Spotify to use Google’s AI to tailor podcasts, audiobooks recommendations Read More »

By Gaelle Sheehan and Victor Goury-Laffont (Reuters) -Dutch Insurer Aegon raised its annual capital generation forecast on Thursday after topping third-quarter expectations on the same metric, driven by a strong performance in the key U.S. market. Aegon has been simplifying its corporate structure by selling Central and Eastern European businesses while focusing on its U.S. …

Dutch insurer Aegon hikes capital generation target on US strength Read More »

(Reuters) – British aerospace supplier Melrose said on Thursday it expected 2023 profit to be 7% higher than its previous expectations, partly driven by stronger aftermarket demand and improved pricing. The owner of GKN Aerospace, which counts Airbus and Boeing as its top customers, said trading and margin performance during the four month ended Oct. …

GKN Aerospace-owner Melrose lifts 2023 profit expectations Read More »