(Reuters) – Chipotle Mexican Grill on Wednesday tempered its annual comparable sales growth forecast as sticky inflation and economic uncertainty force consumers to rein in spending on dining out. The company’s shares were down 5% in after-hours trading. They have fallen about 22% so far this year. Chipotle now expects annual comparable sales growth in…
By Arsheeya Bajwa (Reuters) -IBM said on Wednesday it expects second-quarter revenue above Wall Street estimates, betting on resilient demand for its software services amid economic uncertainty brought on by U.S. President Donald Trump’s tariffs. Shares of the company were up 3.9% after the bell. The move marked a break from IBM’s long-standing practice of…
(Reuters) – JP Morgan sees gold prices crossing the $4,000 per ounce milestone next year, following increased recession probabilities amid boosted U.S. tariffs and an ongoing U.S.-China trade war, the bank said in a note on Tuesday. The bank now expects gold prices to reach an average of $3,675/oz by 4Q25, on the way towards…
By Shadia Nasralla (Reuters) -Activist investor Elliott Management has urged BP to boost its free cash flow to $20 billion by 2027 from around $8 billion last year through significant spending cuts and cost reductions, a source familiar with the situation said on Tuesday. Elliott has increased its stake in BP to just over 5%…
(Reuters) -OpenAI CEO Sam Altman is stepping down as the chairman of nuclear startup Oklo, CNBC reported on Tuesday, sending its shares down 13% after the bell. Oklo, which provides emission-free and affordable energy solutions, did not immediately respond to a Reuters request for comment. Oklo went public in the U.S. in May last year…
(Reuters) – The U.S. Supreme Court has acted in a series of cases involving challenges to executive orders signed by President Donald Trump and actions by his administration since he returned to office in January. The cases have involved deportations, Trump’s move to restrict automatic birthright citizenship, firings of federal workers and certain agency officials,…
(Reuters) – Accounting firms Baker Tilly and Moss Adams have agreed to merge in a $7 billion deal, making it one of the largest firms in an industry that is partly owned by private equity investors the Wall Street Journal reported on Monday. The combined firm will retain the Baker Tilly name and become the…
(Reuters) -China’s state-backed funds are pulling back from investing in the funds of U.S.-headquartered private capital firms amid an escalating trade war between the world’s two biggest economies, the Financial Times reported on Monday. Some of the Chinese funds are also seeking to be excluded from investments in U.S. companies made by private equity firms…
By Carolina Mandl NEW YORK (Reuters) -Global hedge funds last week dumped the so-called Magnificent Seven megacap stocks, bringing their exposure to the group to a two-year low just ahead of their earnings, according to a Morgan Stanley note to clients seen by Reuters. The bank said the Magnificent Seven stocks accounted for more than…
SHANGHAI ((Reuters)) – Two Chinese-made COMAC aircraft, branded as C909, started flying routes in Vietnam on Saturday, Commercial Aircraft Corporation of China (COMAC), the Chinese planemaker said. The planes were leased by China’s Chengdu Airlines to Vietnamese budget airline VietJet, and the route opening marks the start of COMAC’s commercial operation in Vietnam, according it…
