Alibaba Shares Rise as Investors Grow Confident in Outlook

The e-commerce giant's shares rose in Hong Kong, recouping losses from a day earlier as investors turned upbeat on its latest earnings release. 


 
Applied Materials' stock dips despite upbeat earnings

The chip-equipment company's revenue outlook exceeded expectations at the midpoint. 


 
Reddit to Give OpenAI Access to Its Data in Licensing Deal

The deal will give the artificial-intelligence startup access to Reddit's data. 


 
Boeing Supplier Spirit AeroSystems to Lay Off Hundreds

The parts maker said it would cut 400-450 jobs in response to a slowdown in production at Boeing. 


 
Cracker Barrel is the latest restaurant chain to signal trouble ahead as it sees fewer diners

Restaurant chain slashes dividend as it reports fewer diners, says it had to close stores this quarter 


 
Under Armour to Slash Jobs, Warns of Revenue Drop

CEO Kevin Plank said the sportswear brand has tried to do "too much of too much" and will focus on selling fewer products on discounts. 


 
Charles Schwab CFO to Retire Amid Executive Reshuffle

The brokerage firm unveiled several executive changes. Among them, Bernie Clark will step down from his role leading the unit that caters to independent financial advisors. 


 
Crescent Energy to Acquire SilverBow in $2.1B Deal

SilverBow Resources has agreed to be acquired by its Houston-based rival Crescent Energy in a deal valued at $2.1 billion. 


 
AIG to Sell 20% of Corebridge to Nippon Life for $3.8 Billion

Insurance giant AIG has struck a deal to sell a stake in its majority-owned life-and-retirement arm Corebridge Financial to Japan's Nippon Life Insurance for $3.8 billion. 


 
Chinese Regulator Flags Synopsys Acquisition of Ansys

The chip software maker disclosed in a regulatory filing that China's State Administration for Market Regulation took the position that Synopsys must have the tie-up cleared by regulators before it can go forward.


(END) Dow Jones Newswires

05-17-24 0315ET