Meta's Advertising Business Keeps Rolling, But Costs Rise in AI Arms Race

Meta Platforms reported record first-quarter sales, building on AI momentum in its ad business, although investors soured on forecasts of rising costs. 


 
IBM to Buy HashiCorp in $6.4 Billion Deal

IBM will pay $35 a share for the cloud-software company in cash, giving the company access to HashiCorp's roster of some 4,400 clients. 


 
Ford keeps EV losses in check, stock jumps 4%

Carmaker reports a better-than-expected quarter, and EV losses were around Wall Street expectations. 


 
Boeing Burns Through $4 Billion of Cash and Scales Back 737 MAX Production

The aircraft maker has cut production to fix quality problems after door-panel blowout. 


 
McKinsey Under Criminal Investigation Over Opioid-Related Consulting

Justice Department is investigating the consulting firm's advice to manufacturers of OxyContin and other opioid products. 


 
Amazon Introduces Custom AI Capabilities in Race Against Cloud Rivals

The company's cloud-computing unit hasn't made as big a splash as its rivals in AI, betting instead that businesses want to use a variety of AI models. 


 
Chipotle shares rally after earnings beat helped by new menu items

Shares of Chipotle Mexican Grill Inc. rose after hours on Wednesday after the fast-casual Mexican food chain reported first-quarter results that beat expectations, helped by demand for new menu items. 


 
Here's how much the Baltimore bridge collapse is hurting Norfolk Southern

Norfolk Southern's coal-shipping business has been impacted by the Francis Scott Key Bridge collapse. 


 
Hasbro Shares Gain as Cost Cuts Boost Margins

The maker of Transformers action figures and Monopoly board games said it swung to a profit, even as revenue fell. 


 
Blackstone to Buy Franchiser Tropical Smoothie Cafe

The deal values the smoothie chain at around $2 billion, including debt.


(END) Dow Jones Newswires

04-24-24 1715ET