(Reuters) -Activist investor Elliott Investment Management disclosed a $2.5 billion stake in analog chipmaker Texas Instruments and urged the chipmaker to improve its free cash flow. Texas Instrument’s shares rose about 3% in early trading. Elliott proposed in a letter to the company’s board that Texas Instruments introduce a “dynamic capacity-management strategy”, which would allow…
By Pranav Kashyap and Medha Singh (Reuters) – Citron Research no longer has a short position in retail traders’ favorite GameStop, the short seller said on X.com on Wednesday, days after taking a bearish position in the company. “It’s not because we believe in a turnaround for the company fundamentals will ever happen, but with…
(Reuters) – ** Shares of Apple Inc climbs 2.1% with the iPhone maker on track to close with a market cap of $3.33 trln, more than any company in history, with Microsoft and Nvidia both close behind ** AAPL now up ~10% since June 7, just before the co unveiled a long-awaited AI strategy, integrating…
By Daniel Wiessner (Reuters) – A federal judge in Texas on Monday seemed likely to stop a Biden administration rule that would extend mandatory overtime pay to 4 million U.S. workers from taking effect, but was unsure whether he could block it nationwide or only in the Republican-led state. U.S. District Judge Sean Jordan in…
By Ankika Biswas, Lisa Pauline Mattackal and Carolina Mandl (Reuters) -Major U.S. stock indexes closed with modest gains on Wednesday after a choppy trading session, with investors holding their cards close to the vest ahead of a presidential debate and an inflation report closely watched by Federal Reserve policy makers. “We’re in this kind of…
(Reuters) – GameStop is back in the limelight after a hiatus of three years with the return of social media influencer “Roaring Kitty” Keith Gill, a key figure in the Reddit-driven “meme stock” rally of 2021. Here is a timeline of the key developments for the struggling video game retailer: July 27, 2020- “Roaring Kitty”…
By Emily Chow PERTH, Australia (Reuters) – Shell expects its Australian supplies of liquefied natural gas (LNG) to help meet demand from emerging markets in south and southeast Asia, which are tipped to absorb some of the pick up in global supplies towards the end of this decade. Asian spot LNG prices rose last week…
LONDON (Reuters) – The boss of Tesco, Britain’s largest supermarket group, saw his pay package more than double to almost 10 million pounds ($12.6 million) in its 2023/24 financial year, a period when millions of its customers battled a cost of living crisis. Tesco’s annual report, published on Tuesday, showed chief executive Ken Murphy was…
By Stephen Culp NEW YORK (Reuters) -U.S. stocks closed lower on Wednesday as crude prices tumbled and investors weighed cautious U.S. Federal Reserve commentary and ongoing geopolitical strife against mixed quarterly earnings. Benchmark U.S. Treasury yields and the dollar eased back from multi-month highs, while gold backed down from its all-time high. All three major…
By David Shepardson WASHINGTON (Reuters) -AT&T said Friday the company suffered a massive hacking incident as data from about 109 million customer accounts containing records of calls and texts from 2022 was illegally downloaded in April. The U.S. telecom company said the FBI is investigating and at least one person has been arrested after AT&T…
