Business

Tesla deliveries slip from last year's record but beat Wall Street forecasts

The automaker delivered 486,532 vehicles in the third quarter, down from a year-ago high inflated by the rush to beat the expired $7,500 EV tax credit, while energy-storage deployments notched their second-best quarter ever.

U.S. job growth stalls as employers add just 29,000 positions in September

The unemployment rate ticked up to 4.2% and hiring in July and August was revised sharply lower, the Labor Department reported, deepening worries that the economy's slowdown is accelerating.

Onsemi slashes Synaptics takeover to $5.7 billion cash after rival bid surfaces

ON Semiconductor tore up its stock-for-stock pact for the sensor and touch-chip maker and returned with an all-cash offer of $123 a share, after an unsolicited rival proposal briefly won over Synaptics' board, according to filings made public this week.

Acuity Posts Record Annual Profit as Smart-Building Unit Outgrows Legacy Lighting

The Atlanta-based industrial technology company's intelligent-buildings division, built around its 2025 acquisition of audiovisual maker QSC, grew sales 45 percent for the year while its original lighting business contracted, lifting full-year net income to a record $531 million.

KKR clears key antitrust hurdle in $5.7 billion Integer Holdings buyout

The medical device manufacturer said regulators ended the waiting period on its all-cash sale to KKR, clearing a major closing condition as the companies aim to take the company private by year's end.

Micron's Quarterly Revenue Nearly Quadruples as AI Memory Shortage Deepens

Record fiscal fourth-quarter results and a bullish forecast from the memory-chip maker underscore how an artificial-intelligence-driven supply crunch is reshaping corporate profits — and pushing up prices for PCs and phones.

Paramount clears final legal hurdle in $110 billion Warner Bros. Discovery takeover

A federal judge's order resolving a 12-state antitrust lawsuit removes the last obstacle to Paramount Skydance's acquisition of Warner Bros. Discovery, with the companies targeting an Oct. 6 closing for one of the largest media mergers in U.S. history.

Private-sector hiring rebounds as ADP reports 90,000 new jobs in September

ADP's September payrolls report beat Wall Street estimates and snapped a three-month hiring slowdown. The rebound lands two days before the government's own jobs report and just weeks after the Federal Reserve raised interest rates to fight persistent inflation.

Long-term Treasury yields surge to highest levels since 2002, pressuring stocks and mortgages

The 30-year Treasury yield touched its highest level in nearly a quarter-century on Tuesday, as investors demanded more compensation for persistent inflation, a swelling federal deficit and a Federal Reserve that isn't done raising rates.

AstraZeneca invests $2 billion in Summit Therapeutics to pair cancer drugs

The deal gives AstraZeneca a stake in Summit's closely watched lung cancer drug ivonescimab and sent Summit shares up more than 17%.

FINMA concluded a nearly two-year enforcement case against the Zurich private bank, citing serious failures in both private-debt lending and anti-money-laundering controls. Julius Baer shares jumped as much as 8.8% as the ruling clears the way for a long-delayed share buyback.

FAA Halts Boeing 737 MAX 10 Certification Over New Software Flaw, Shares Fall 6.9%

A software fix meant to correct an earlier bug introduced a new flaw in the largest 737 MAX variant's flight-control system, forcing regulators to delay certification Boeing had called "on plan" for this year and wiping out roughly $11 billion of the company's market value in a single session.

FICO stock plunges 26% after regulator moves to erase its mortgage-scoring edge

A social-media post from the federal regulator overseeing Fannie Mae and Freddie Mac wiped roughly $4 billion off Fair Isaac's market value in hours, deepening a year-long fight over who controls how mortgage credit risk gets priced.

Mesabi Metallics unveils $15 billion Iowa steel plant, billed as nation's largest

The Essar Group-owned steelmaker says the mill will produce 10 million tons of steel a year and create up to 1,750 permanent jobs, supplied by a newly reopened Minnesota iron mine.

Geely to take 30% stake in Nio's battery-swapping unit in $2.4 billion deal

Zhejiang Geely Holding will fold its commercial battery-swap business into Nio Power in exchange for a 30 percent stake, deepening a rivalry-turned-alliance between two of China's largest electric vehicle makers.

Lifecore Biomedical to be taken private in up to $663.7 million Webster Equity Partners deal

The Minnesota-based sterile-injectables and hyaluronic-acid manufacturer agreed to go private three years after first warning of a going-concern crisis, with shareholders getting $6.28 a share in cash now and up to $3.39 more if performance targets are hit.

Trump rejects Iran's Hormuz truce offer, sending oil prices surging

Brent crude jumped more than 4 percent after the president dismissed Tehran's proposal to reopen the Strait of Hormuz within seven days, extending a supply standoff that has rattled markets for months.

Smart-Ring Maker Oura Nears IPO Pricing With Order Books Four Times Oversubscribed

Oura is set to price a deal worth up to $2.2 billion this week at a fully diluted valuation near $15.6 billion, a closely watched test of investor appetite for growth stocks after a volatile September in the markets.

10-year Treasury yield hits 19-year high, pushing mortgage rates toward 7.5%

A relentless bond-market selloff has pushed long-term U.S. borrowing costs to levels last seen before the 2008 financial crisis, driving mortgage rates higher and adding to Washington's own $1-trillion-a-year interest bill.

US and China agree to tariff relief on $30 billion in goods after Xi's Washington visit

A three-day state visit by Xi Jinping produced a modest tariff-truce extension and a new dialogue on advanced artificial intelligence, but left rare-earth supply concerns and bigger disputes over technology and Taiwan unresolved.

Barry Diller's People Inc. Drops $48.30-a-Share Bid for MGM Resorts, Erasing Takeover Premium

The media holding company withdrew its four-month effort to buy the roughly three-quarters of MGM Resorts International it did not already own, sending shares down nearly 11 percent and wiping out a premium investors had priced in since June.

Appeals Court Deals Kalshi Another Legal Blow, Deepening Fight Over Sports Betting Contracts

A unanimous Sixth Circuit ruling lets Ohio and Tennessee treat Kalshi's sports-event contracts as gambling, widening a circuit split that now appears headed for the Supreme Court just as the prediction-market startup courts investors at a valuation north of $20 billion.

Paramount Skydance Sets NYSE Move as $110 Billion Warner Bros. Discovery Deal Awaits Judge's Ruling

A new SEC filing lays out Paramount's stock-listing switch and warrant-distribution plans for its Warner Bros. Discovery takeover — but the company admits the closing date "is not yet certain" while a federal judge withholds sign-off on the antitrust settlement meant to clear the way.

Kuehne+Nagel Sees Years of Growth Ahead as AI Data Centers Reshape Global Freight

The Swiss freight giant's CEO says demand tied to hyperscaler data-center buildouts is locked in through 2029, days after a new long-term Amazon deal sent the stock to a two-year high.

Consumer Sentiment Sinks to 48.1 as Tariffs, Gas Prices and Higher Rates Squeeze Households

The University of Michigan's final September reading showed the steepest slide in the Expectations Index in months, as year-ahead inflation expectations jumped to 4.6% and the Fed's latest rate hike added to household strain.

Akamai Signs $11.6 Billion Anthropic Deal, the Largest Contract in Its History

The seven-year agreement, which could grow to $20 billion, commits Akamai to building dedicated computing capacity for Anthropic's Claude AI agents and hands the AI company a warrant for up to 5 percent of Akamai's stock.

Business equipment orders jump 1.6% in August as AI data-center boom drives investment

Commerce Department figures released Friday showed orders for machinery, computers and electrical gear far outpacing forecasts, as manufacturers race to supply the data centers powering the artificial-intelligence buildout.

ADARx Pharmaceuticals raises $446 million in first US RNAi biotech IPO in over a decade

The San Diego siRNA drugmaker priced its upsized offering at $17 a share and begins trading Friday on Nasdaq, with AbbVie buying a concurrent private stake as the RNA-interference field tests renewed investor appetite.

Costco tops Wall Street forecasts as tariff refunds flow into price cuts

The warehouse retailer's fourth-quarter sales rose past $93 billion overnight, and executives detailed how $184 million in refunds from illegally collected import tariffs is being funneled back into lower shelf prices.

Royal Caribbean Buys Half of Sandals Resorts in $3 Billion Caribbean Bet

The world's second-largest cruise operator will pay $3 billion for half of the family-owned Sandals and Beaches Resorts chain, a bet on blending ships with land vacations that sent its stock swinging and split opinion among Caribbean officials.

Worthington Enterprises Shares Surge as Data-Center Cooling Demand Lifts Earnings

Quarterly revenue from tanks used in AI data-center cooling systems matched all of last fiscal year in a single quarter, sending the industrial manufacturer's stock sharply higher.

IonQ says it cleared a major quantum computing bottleneck, and its stock jumps

IonQ said it built and tested a system that corrects quantum computing errors in real time on a single off-the-shelf processor, a claim that sent its shares and those of rival quantum firms sharply higher this week.

Bangladesh Deepens Its Bet on Boeing With Order for 11 More Jets Amid Tariff Diplomacy

Biman Bangladesh Airlines and Boeing signed a follow-on order for 11 jets in New York during UN General Assembly week, extending the carrier's fleet renewal and reinforcing Dhaka's effort to keep US tariffs on its garment exports from rising.

Cracker Barrel profit surges past estimates as new CEO pushes debt paydown

The family-dining chain's adjusted per-share earnings far exceeded forecasts in its fiscal fourth quarter, as new chief executive David Deno moved to cut debt through a sale-leaseback of two dozen restaurants and set a cautious outlook for fiscal 2027.

Hot Economic Data Pushes Bond Yields to Highest Level Since 2007, Rattles Stocks

A stronger-than-forecast reading on U.S. business activity is fueling bets the Federal Reserve will keep raising rates, sending the 10-year Treasury yield to its highest level in nearly two decades and pulling stocks lower.

General Mills Profit Falls 67%, But Comparison Masks a Steadier Quarter

The maker of Cheerios and Blue Buffalo beat Wall Street estimates and held its full-year forecast, even as cereal and snack sales stayed under pressure from inflation, higher rates and GLP-1 drugs reshaping grocery carts.

Ex-Vitol oil trader sentenced to four years in $500 million Ecuador-Mexico bribery scheme

A federal judge sentenced former Vitol trader Javier Aguilar to four years in prison for bribing officials at Ecuador's and Mexico's state oil companies, a fraction of the 12 years prosecutors sought.

Xbox cuts 268 more jobs, shifts next Halo game to Activision as restructuring nears completion

Microsoft's gaming division eliminated 268 more roles and reshuffled its studios, moving Halo development to Activision as a broader 3,200-job reset nears its finish.

US diesel prices hit a record $6.53 a gallon as the Iran-linked fuel shock deepens

The government's benchmark diesel price climbed to an all-time high this week, squeezing truckers and farmers and feeding broader inflation, even as crude oil eased on hopes for a diplomatic breakthrough with Iran.

KB Home's Sales Slide Deepens as Mortgage Rates Near 7 Percent, Testing the Housing Market

KB Home's fiscal third-quarter revenue fell 20 percent and deliveries dropped 19 percent, one of the clearest signs yet that the Federal Reserve's latest rate increase is compounding an affordability squeeze already weighing on the housing market.

States and Writers Guild Settle Suits, Clearing Path for Paramount-Warner Bros. Merger

Twelve state attorneys general and the Writers Guild drop their antitrust challenges after Paramount agreed to production quotas, worker funds and a news-editorial oversight board.

AMD joins the trillion-dollar chip club as AI supply deals fuel a record rally

Shares of the chipmaker surged past a $1 trillion market capitalization for the first time, propelled by supply agreements with OpenAI and Oracle and a rally that has lifted the stock roughly 180 percent this year.

SpaceX's doubled weighting in the Nasdaq-100 forces a $22 billion trade in a single closing bell

A routine quarterly index rebalance turned into one of the largest forced-buying events in the Nasdaq-100's history on Friday, as expiring lockups suddenly made far more of SpaceX's stock eligible for index funds to own.

Oil tankers are now earning $1 million a day to run the gauntlet of the Strait of Hormuz

Seven months into the Iran war, so few vessels are willing to cross the world's most important oil chokepoint that freight rates have shattered every record, even as diesel prices hit an all-time U.S. high.

The London-based data-center operator disclosed steep revenue growth alongside a $1 billion first-half loss as it seeks a New York Stock Exchange listing to fund its buildout.

Bank of Japan raises rate to 31-year high in split vote, but the yen falls anyway

The Bank of Japan lifted its policy rate a quarter point to 1.25%, its highest since 1995, but a 7-2 vote and a governor unwilling to commit to a pace of further hikes sent the yen lower instead of higher.

Warren Buffett steps down as Berkshire Hathaway chairman, hands title to son Howard

Warren Buffett, 96, became chairman emeritus of Berkshire Hathaway on Friday after 60 years leading the board, with his son Howard G. Buffett elected chairman — a largely symbolic final step in a succession that made Greg Abel chief executive eight months ago.

CoreWeave upsizes convertible bond sale to $3.7 billion as AI data-center costs mount

The Nvidia-backed cloud computing company priced its second major debt sale of the year and opened a new stock-sale program, sending shares down sharply before a partial recovery, as investors weigh a swelling debt load against a $104 billion order backlog.

Bank of England Holds Rates at 3.75% as Three Policymakers Push for Immediate Hike

A 6-3 vote left Britain's benchmark rate unchanged for a sixth straight meeting, but inflation running at 3.1 percent and a Middle East-driven energy shock have policymakers signaling a rise could come as soon as November.

SEC clears five-year path for trading tokenized U.S. stocks on blockchain venues

A new "Innovation Exemption" lets specialized platforms trade blockchain versions of listed stocks outside normal exchange rules, sending shares of tokenization firms sharply higher and putting pressure on Robinhood's existing stock-token product.

J.B. Hunt Shares Post Worst Drop in the S&P 500 After Trucking Giant Warns on Costs

The intermodal and trucking carrier told investors that driver-recruiting expenses and rising diesel prices would cut third-quarter profit well below Wall Street's estimates, wiping out roughly an eighth of its market value in a single session.

Fluence Energy Shares Plunge After Second Guidance Cut of the Year

The battery storage manufacturer backed by founding shareholders AES and Siemens slashed its fiscal 2026 revenue and profit outlook after renewed delays at a Houston manufacturing plant, triggering a wave of analyst downgrades and a leadership shake-up.

The Federal Open Market Committee voted unanimously to lift its benchmark rate a quarter point, reversing its recent easing stance and signaling more increases could follow this year.

Generac stock jumps 33% after Amazon takes equity stake tied to $8 billion data center generator deal

Amazon secured warrants for nearly 3% of Generac's shares as part of a long-term deal to supply backup generators for the retail giant's data centers, the latest sign that AI-driven electricity demand is reshaping deals between tech companies and their industrial suppliers.

US retail sales rose 1.2% in August, adding to case for a Fed rate hike

Retail and food-service sales climbed far more than forecasters expected in August, according to Census Bureau data released hours before the Federal Reserve's afternoon interest-rate decision. The report reinforced market bets that policymakers will raise rates to contain inflation stoked by rising oil prices.

Michael Dell's Family Office Leads $7.7 Billion Deal to Take Baldwin Group Private

Sequence Holdings and Dell's investment arm will pay an 88 percent premium for the insurance brokerage, one of the largest going-private transactions of the year.