Reporting
Latest stories
Markets, companies and the economy, with the date and primary source attached.
Nvidia Is About 4% Away From Becoming the First $6 Trillion Company
Monday's record $238.90 close valued the chipmaker at about $5.76 trillion. Roughly $249 a share marks $6 trillion — a level no public company has ever touched.
About 9% of Gulf oil output is shut in as forecasters expect a hurricane by Thursday
Shell and Chevron are moving nonessential workers off offshore platforms, and forecasters see a growing risk of dangerous wind and storm surge from Louisiana to the Florida Panhandle by Friday.
HubSpot cuts nearly 660 jobs, about 7% of staff, and stands by its 2026 forecast
The marketing-software company expects $65 million to $75 million of charges and says the cuts are not driven by AI-related efficiencies. Fair Isaac, the maker of the FICO score, said the same day it will cut about 15% of its positions.
Black Hills signs deals to power Google's planned Cheyenne data center with $1.8 billion of new gas generation
The utility expects the contracts, which run through 2048, to add about $150 million of net income in 2030 and says Google will bear the full cost of serving the site. Its shares rose about 4.5% after hours.
Chevron will give up its Hess Midstream stake for cheaper Bakken contracts and expects a $3 billion to $4 billion loss
Hess Midstream will pay $200 million, take over Chevron's DJ Basin gathering assets and become independent. Chevron expects to halve its Bakken unit midstream costs and drop about $3.7 billion of debt from its books.
Constellation Brands beats estimates, but shares fall as Modelo and Corona keep slipping
The Modelo and Corona importer topped profit and sales estimates and kept its full-year forecast, but it expects thinner beer margins in the second half. Its shares fell about 4.6% after hours.
S&P 500 closes at its first record since August as bond yields ease
The benchmark rose 0.58% to 7,818.93 and the Nasdaq set a second straight record, while Seagate and Western Digital fell again on worries about more hard-drive supply from Toshiba.
ArriVent shares lose about half their value after lung cancer drug misses Phase 3 goal
On the higher dose, patients went a median 11 months before their cancer worsened, against 9.5 months on chemotherapy, a gap that was not statistically significant. The company is reviewing the full data.
KKR agrees to buy private-fund administrator Gen II for $5.1 billion
Gen II serves more than 275 private-markets managers. Hg and General Atlantic, its backers since 2020, are selling, and the deal is expected to close in 2027.
Stryker names operating chief Spencer Stiles to succeed Kevin Lobo as CEO in January
Lobo, chief executive since 2012, becomes executive chair. Stiles, a 27-year company veteran, has been operating chief since January.
U.S. trade deficit widens to $105.6 billion in August as imports hit a record
Imports jumped $17.2 billion on crude oil, gold and semiconductors, and capital goods imports set a record. The gap was wider than economists expected.
Marvell raises fiscal 2028 revenue target to about $20 billion and sets a goal of up to $90 billion by fiscal 2031
The new targets lean on custom chips for the biggest cloud companies. The shares rose about 5% by midday after swinging as much as 11% higher.
Uber agrees to buy catering marketplace ezCater for $2.3 billion in cash
The workplace-meals marketplace handled more than $2.5 billion of orders in the past year and is profitable, Uber says. Regulators still have to approve the deal.
Option Care agrees to $5.8 billion buyout by CD&R and McKesson at $32.05 a share
The home-infusion provider's board backed a price 37% above Monday's close. McKesson will put in about $1.4 billion for 49% and gets a framework to buy out its private equity partner later.
Paramount completes Warner Bros. Discovery takeover, paying about $78 billion in cash and renaming itself Skydance
Warner holders get just over $31 a share in cash. The combined company starts trading on the New York Stock Exchange carrying roughly $82 billion of debt and a promise of $6 billion in yearly savings.
Google signs 20-year deal to fund 890 megawatts of new nuclear output at Constellation plants
Constellation will spend more than $4.3 billion upgrading reactors in Illinois, Pennsylvania and New Jersey, with the first extra power due by 2028. The price Google pays was not disclosed.
Emera and Canadian Utilities agree to merge in all-share deal, forming a C$72 billion utility
Canadian Utilities holders get almost no premium but more dividend income, and parent ATCO will spin off its housing, defence and ports businesses. Votes and a long list of regulators stand between the deal and a 2027 close.
Indonesia's sovereign fund backs HighPeak Energy in $450 million refinancing
The Permian producer will sell convertible preferred stock at a $9.50 conversion price and line up an $800 million bank facility. Two new directors join when the deal closes.
France's BPCE buys 7% of Banco Sabadell and seeks a board seat
The friendly stake is capped at 9.9% and comes with talks on joint business that should wrap up in early 2027. Sabadell shares rose about 2% in Madrid.
CVC and GBL raise Recordati offer to €53 a share and call it final
The buyers extended the tender to October 23 after the original bid drew almost no shares beyond CVC's own stake, and CVC may now also buy stock in the market.
Informa agrees to buy Clarion for £2.24 billion and plans to separate Taylor & Francis
The London-listed events group will sell about £940 million of new shares to help buy the owner of IFA Berlin and DSEI, and has started a process to separate its academic publisher.
Foxconn tops NT$1 trillion in monthly sales for the first time as AI servers drive a record quarter
Third-quarter sales jumped 47% to a record, beating analyst estimates on demand for AI servers. The shares jumped at Tuesday's open in Taipei, then gave back most of the gain.
Nasdaq closes at a record as 10 S&P sectors advance
The technology-heavy index gained 1.05% on Monday. Participation extended beyond AI stocks, although the day's highs-and-lows data showed an uneven market beneath the record.
Tesla rises 2.2% to $378.73 ahead of October 21 earnings
Monday's advance extended Friday's gain. Tesla's October 21 results will show how vehicle deliveries and energy deployments translated into revenue, margins and cash flow.
Nvidia closes at a record $238.90, valuing company at about $5.76 trillion
Nvidia gained 2.12% on Monday, outpacing the Nasdaq as investors looked toward earnings. Its latest results and expanded buyback provide context for the rally, while the next revenue and margin targets remain tests to meet.