Latest Corporate News News
Meta Raises AI Spending Outlook, Shares Plunge 4.4% After-Hours
Meta Platforms projected full-year capital expenditures between $125-145 billion, exceeding analyst estimates amid heavy AI investments. Shares fell 4.4% in after-hours trading despite prior yearly gains. This extends Meta's streak of historic AI spending, disappointing investors.
Alphabet Beats Q1 Revenue Projections with $94.7 Billion
Google parent Alphabet reported first-quarter revenue of $94.7 billion excluding partner payouts, surpassing the $91.6 billion analyst average. Profit also exceeded expectations, with 20% year-on-year revenue growth highlighted. Shares reacted positively in after-hours trading.
Amazon Cloud Unit Posts Fastest Growth in Over Three Years
Amazon's AWS saw accelerated quarterly growth due to new data centers and deals with Anthropic and OpenAI. Capital spending hit $44.2 billion, above expectations, signaling higher AI build-out costs. Shares gained around 3% after-hours.
Microsoft Delivers Strong Cloud Results, Shares Unchanged
Microsoft reported solid numbers with good cloud computing performance amid AI focus. The company was among big tech firms showing strength post-earnings, contrasting Meta's drop. Investors await further details on AI impacts.
Saudi PIF Pulls Funding from LIV Golf After This Season
Saudi Arabia's Public Investment Fund will cease bankrolling LIV Golf post-current season, per sources. The move ends the disruptive league that poached top players with billions. PIF's new strategy omits golf, signaling a shift.
Brent Crude Surges 7.1% to $126 on Iran Blockade Fears
Oil prices hit four-year highs as Trump warns of prolonged US blockade of Iranian ports over nuclear issues. Brent reached above $126/barrel, with WTI over $110, disrupting global supplies. Strait of Hormuz closure risks weigh on markets.
Big Tech AI Spending Jolts Shares, Mixed Earnings Reaction
Heavy AI investments pressured big tech: Meta dropped 7%, while Amazon, Microsoft, Alphabet advanced on cloud gains. Earnings wave underscores AI race costs amid Fed rate hold. Apple earnings eyed next.
S&P 500 Flat, Dow Falls 0.6% Ahead of Earnings Wave
US markets were subdued with S&P 500 and Nasdaq little changed, Dow down 0.6% as earnings loomed. Asian markets fell on oil surge; dollar strengthened as safe haven. Energy prices offset tech optimism.
Fed Holds Rates at 3.75% Amid Inflation and Geopolitical Risks
Federal Reserve kept rates steady in Jerome Powell's final meeting, balancing inflation from energy spikes. Geopolitical tensions, including Iran, fuel uncertainty. ECB also signals no hikes yet.
UAE Quits OPEC Amid Worsening Saudi Rift
UAE's OPEC exit driven by escalating tensions with Saudi Arabia, per reports. This adds to global energy market volatility alongside Iran blockade. Impacts on oil production strategies unclear.
European Banks Report Earnings Amid Steady ECB Policy
European bank earnings season in full swing as ECB finds no case for rate hikes yet. Big tech scrutiny parallels with AI spending pressures. Regional markets face oil-driven headwinds.
Iran Blockade Fuels Piracy Resurgence Off Somalia
US naval actions against Iran spark piracy surge off Somalia's coast. Geopolitical fallout disrupts shipping lanes further. Energy experts note broader supply chain risks.