(Reuters) – Spirit Airlines parent Spirit Aviation Holdings said on Wednesday that the low-cost carrier has successfully completed its financial restructuring. The company said it has exited chapter 11 by finalizing a debt restructuring transaction approved by a U.S. bankruptcy judge in February. The restructuring allows the budget airline to convert $795 million in debt…
(Reuters) -Adobe beat Wall Street expectations for first-quarter revenue on Wednesday, benefiting from strong spending on its portfolio of design products that boast artificial intelligence features. The company reported revenue of $5.71 billion, beating estimates of $5.66 billion, according to data compiled by LSEG. Adobe reaffirmed its annual revenue forecast and its CEO said the…
By David French, Isla Binnie and Mrinalika Roy (Reuters) – Dealmakers expect 2025 to be a bumper year for mergers and acquisitions in the U.S. power industry, with a voracious appetite for assets as the sector gears up to meet massive demand growth from data centers for artificial intelligence. Record power demand and dizzying projections…
By Jody Godoy (Reuters) -The U.S. Federal Trade Commission asked a federal court in Seattle on Wednesday to delay a September trial in its case alleging Amazon misled consumers over its Prime subscription service, citing “severe resource shortfalls in terms of both money and personnel.” Jonathan Cohen, an attorney for the FTC, told U.S. District…
By Carolina Mandl NEW YORK (Reuters) -Global hedge funds accelerated the unwinding of stock positions on Monday, mainly in the industrial sector, as they seek to reduce risk amid a selloff in U.S. stocks, according to Goldman Sachs notes. The bank said in a note that the de-risking had accelerated from Friday, a trend it…
By Jamie McGeever ORLANDO, Florida (Reuters) – TRADING DAY Making sense of the forces driving global markets Wall Street’s failure to bounce back from its recent beating on news of a potential ceasefire between Ukraine and Russia shows just how worried investors are about the growth and market impact from U.S. President Donald Trump’s tariff…
By David French HOUSTON (Reuters) – Kimmeridge Energy Management will pursue more activism among Canadian oil and gas producers, a senior executive told Reuters on Tuesday, as it targets underperforming companies and potential benefits emanating from the trade war with the United States. President Donald Trump has ratcheted up tariffs on his country’s northern neighbor,…
(Reuters) – U.S. President Donald Trump’s trade adviser Peter Navarro said on Tuesday that an increased tariff of 50% on Canadian steel and aluminum will not take effect on Wednesday. Earlier in the day, Trump had ordered that an across-the-board tariff of 25% on all steel and aluminum imports that is slated to take effect…
NEW YORK (Reuters) -Hedge funds reduced their exposure to stocks on Friday at the largest amount in more than two years, according to a Goldman Sachs note released on Monday. The bank added some hedge funds’ large moves on Friday could be compared to what was seen in March 2020, during the breakout of the…
(Reuters) – Oracle CEO Safra Catz said that the company’s large sales backlog will help drive 15% growth in its revenue next fiscal year, surpassing analysts’ current estimates as it expands its artificial intelligence cloud services. Analysts expect revenue growth for its fiscal 2026 to be 12.6%, according to data compiled by LSEG. Shares of…
