Reuters US Business

By Arasu Kannagi Basil and Isla Binnie (Reuters) -Blackstone’s pipeline for initial public offerings indicates the firm could be about to kick off one of the biggest years in its history for such deals, while total assets under management rose to a record $1.24 trillion, executives said on Thursday. Transactions have come thick and fast …

Blackstone teases deal flow, record assets as profit beats estimates Read More »

(Reuters) -Super Micro Computer trimmed its first-quarter revenue forecast on Thursday, citing a shift in customer delivery schedules for large artificial intelligence deals. Shares of the company fell around 7% after it said “design win upgrades” pushed some expected revenue to the second quarter. The AI server maker said it now expects first-quarter revenue for …

Super Micro cuts first-quarter revenue forecast on delivery delays Read More »

By Utkarsh Shetti (Reuters) -Honeywell on Thursday raised its 2025 profit forecast despite the impact of a planned separation of its advanced materials unit, signaling robust growth prospects fueled by strong aerospace demand, sending its shares up more than 7%. The business, now named Solstice, is set to start trading independently on the Nasdaq from …

Honeywell lifts 2025 profit outlook despite Solstice spinoff, shares rise Read More »

(Reuters) -Short interest in shares of plant-based meat seller Beyond Meat surged more than 100% of its publicly available shares, Ortex data showed on Thursday. About 109% of Beyond Meat’s free float shares were shorted, up from 81.8%, as of Wednesday. Beyond Meat stock jumped more than 112% in the last session, but closed slightly …

Beyond Meat short interest surges past 100% of public shares, Ortex data shows Read More »

By Manya Saini and Lananh Nguyen (Reuters) -Lazard sailed past estimates for third-quarter profit on Thursday as dealmaking picked up, mirroring gains at larger Wall Street rivals. “We see an increasingly constructive environment across all lines of our financial advisory business, rising M&A demand, strong restructuring and liability management activity,” Lazard CEO Peter Orszag told …

Lazard profit beats estimates on dealmaking revival Read More »

(Reuters) -Freeport-McMoRan posted a better-than-expected third-quarter profit on Thursday, as higher copper prices offset lower production after the company suspended operations at its flagship Grasberg mine due to the death of seven workers. The Phoenix-based miner’s shares gained 3.3% to $42.10 in morning trading. Average copper prices rose during the quarter from a year earlier, …

Freeport-McMoRan profit beats as higher copper prices offset Grasberg troubles Read More »

By Paul Sandle LONDON (Reuters) -British ad group WPP said on Thursday it was letting brands access its AI-powered marketing platform to plan, create and publish their own campaigns. WPP Open Pro, a new edition of its AI platform WPP Open, has been designed for smaller brands that do not use full-service agencies, it said, …

WPP cuts out the agency to help brands create their own ads with AI Read More »

By Anshuman Tripathy and Nandan Mandayam (Reuters) -Union Pacific said it expects to submit papers for its $85 billion merger with Norfolk Southern to a regulator as soon as end-November, after the railroad operator on Thursday topped Wall Street’s profit estimates on strong coal volumes. Omaha, Nebraska-based Union Pacific had initially said it would submit …

Union Pacific to submit papers for mega merger by end-November; profit tops estimates Read More »

By Tatiana Bautzer and Pritam Biswas (Reuters) -Citigroup CEO Jane Fraser was elected as chair of the board of directors, the bank said in a filing on Wednesday. As Fraser – who became Citi’s CEO in 2021 – takes on the dual mandate, Citi joins major U.S. banks that have given the chair role to …

Citigroup CEO Jane Fraser elected board chair, gets $25 million stock award Read More »