Sony, Apollo Make $26 Billion All-Cash Offer for Paramount

Sony Pictures and Apollo Global Management have submitted an all-cash, $26 billion offer for Paramount Global, marking the second time the private-equity firm has come in with a bid for the entertainment giant. 


 
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. 


 
SEC Ends Probe of Trades Before Activision-Microsoft Merger With No Action

Regulators ended an investigation into bets that Barry Diller and others made on Activision Blizzard before the videogame company agreed to be acquired by Microsoft. 


 
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. 


 
Former Pioneer CEO Is Accused of Trying to Collude With OPEC

The FTC alleges Scott Sheffield tried to coordinate on oil production and prices. The agency referred the case for a potential criminal probe. 


 
Oracle Looks to AI and Microsoft Partnership to Lift Cloud Business

The tech company hopes an AI update to its flagship database software and the recent expansion of its Microsoft collaboration will boost cloud sales. 


 
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. 


 
The Universal Music-TikTok Spat Is Over. Here's What Artists Won.

The deal comes after their prior licensing contract expired, 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.


(END) Dow Jones Newswires

05-02-24 1515ET