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☆ US FDA Identifies Recall of ResMed's Respiratory Devices as Most Serious
▼ + stars: | 2024-01-11 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - The U.S. Food and Drug Administration (FDA) on Thursday classified the recall of certain respiratory masks made by ResMed as most serious as their use could cause major injuries or death. ResMed was recalling some models of its continuous positive airway pressure (CPAP) masks, AirFit and AirTouch, due to possible magnetic interference with certain medical devices and implants which might disrupt their function or position and cause serious harm or death, the FDA said. The FDA said ResMed was recalling these masks to update the labels and add more warnings and information. The California-based medical device maker started the recall process on Nov. 20 and has recalled over 20 million devices in the United States. The health regulator said there has been six reported injuries and no reports of death due to the devices.

Persons: ResMed, Mariam Sunny, Maju Samuel Organizations: Reuters, U.S . Food, Drug Administration, FDA Locations: U.S, California, United States, Bengaluru

☆ Tech firms, Wall Street lead job cuts in Corporate America
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +9 min

TECHNOLOGY, MEDIA AND TELECOM SECTORMeta Platforms (META.O):The Facebook-parent said it would cut 10,000 jobs, just four months after it let go 11,000 employees. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. The company laid off under 1,000 employees across several divisions in October, Axios reported, citing a source. Workday (WDAY.O):The software company will cut roughly 500 jobs, or 3% of its workforce, citing a challenging macroeconomic environment. Morgan Stanley (MS.N):The Wall Street powerhouse was planning to cut about 3,000 jobs in the second quarter ended June 30, Reuters reported in May.

Persons: Brendan McDermid, Goldman Sachs, Axios, Pat Gelsinger, Elon Musk, Morgan Stanley, Lazard, Coinbase, cryptocurrencies, Phillips, Johnson, Joseph Wolk, Deborah Sophia, Akash Sriram, Granth Vanaik, Eva Mathews, Yuvraj Malik, Sourasis Bose, Priyamvada, Tiyashi Datta, Manya Saini, Jaspreet Singh, Maju Samuel, Sriraj Kalluvila, Pooja Desai Organizations: REUTERS, TELECOM, Meta, Facebook, IBM Corp, Spotify Technology SA, Spotify, Microsoft Corp, Intel Corp, Reuters, New York Times, Elon, Cisco Systems, HP, Rivian, Match, Dell Technologies, Technologies, U.S . Central Intelligence Agency, Goldman Sachs, Wall, Citigroup, Bloomberg News, BlackRock, Bed, Dow, Johnson, 3M, Thomson Locations: New, Wall, U.S, York, New Jersey, Bengaluru

☆ Cloud-based software provider Five9 considers options for sale - Bloomberg News
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

Dec 4 (Reuters) - Call center software firm Five9 (FIVN.O) is weighing options for a sale, more than two years after a buyout by Zoom Video Communications (ZM.O) failed, Bloomberg News reported on Monday, citing people familiar with the matter. Five9 declined to comment while Zoom did not immediately respond to a Reuters request for comment. Deliberations were ongoing and there is no certainty they will result in a sale, the report added. Virtual meeting company Zoom abandoned its $14.7 billion acquisition of the company in October 2021 after Five9's shareholders voted against the deal. What would have been Zoom's biggest acquisition ever was terminated after proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis had cited growth concerns and advised Five9 shareholders against the deal.

Persons: Five9, Glass Lewis, Arsheeya, Shinjini Ganguli, Maju Samuel Organizations: Zoom Video Communications, Bloomberg, Services, Thomson Locations: Bengaluru

☆ US FDA says BD recalling infusion pumps due to compatibility issues
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsDec 1 (Reuters) - The U.S. Food and Drug Administration (FDA) said on Friday that Becton Dickinson (BDX.N) is recalling its Alaris infusion pumps due to compatibility issues with Cardinal Health's (CAH.N) Monoject syringes. However, the dimensions for Monoject syringes have recently changed while rebranding the syringes from Covidien Monoject to Cardinal Health Monoject. Last month, the FDA warned healthcare providers not to use Cardinal's Monoject syringes with patient-controlled pain management pumps and syringe pumps after the company initiated a recall due to compatibility problems. On Sept. 15, BD asked its customers to stop using Cardinal's Monoject syringes with BD's Alaris pumps. An infusion pump is a medical device that delivers fluids such as nutrients and medications into a patient's body in controlled amounts.

Persons: Andrew Kelly, Becton Dickinson, Cardinal Health's, Monoject, Health Monoject, BD, Christy Santhosh, Maju Samuel Organizations: Food and Drug Administration, FDA, REUTERS, U.S . Food, Drug Administration, Health, Thomson Locations: White Oak , Maryland, U.S

☆ Dell misses quarterly revenue estimates on slow PC market recovery
▼ + stars: | 2023-11-30 | by ( Harshita Mary Varghese | ) www.reuters.com time to read: +2 min

The company's client solutions group, which includes its consumer and enterprise personal computer business, posted revenue of $12.28 billion for the third quarter, a near 11% fall compared to a year earlier. However, Dell has more impact than its competitors due to the weakness in the business PC market, which is a core market (for the company)," said Mikako Kitagawa, analyst at Gartner. Dell's servers and networking business revenue was up 9% from the second quarter, fueled by customer interest in generative artificial intelligence, Chief Operating Officer Jeff Clarke said. Revenue for the third quarter came in at $22.25 billion for Dell, missing estimates of $23 billion, according to LSEG data. The PC market is expected to bank on demand from AI boost, according to research firm Canalys, as it projects adoption of AI-capable PCs to accelerate from 2025 onward, with such devices accounting for around 60% of all PCs shipped in 2027.

Persons: Brendan McDermid, lockdowns, Dell, Mikako Kitagawa, Jeff Clarke, Harshita Mary Varghese, Maju Samuel Organizations: Dell, Dell Inc, REUTERS, UNITED STATES, Dell Technologies, Gartner, Nvidia, Revenue, Intel, AMD, Thomson Locations: New York

☆ Disney CEO Iger promises 2026 exit, says ABC not for sale
▼ + stars: | 2023-11-29 | by ( Lisa Richwine | ) www.reuters.com time to read: +1 min

Disney's Chief Executive Officer Bob Iger holds a news conference at Shanghai Disney Resort as part of the three-day Grand Opening events in Shanghai, China, June 15, 2016. REUTERS/Aly Song/File Photo Acquire Licensing RightsLOS ANGELES, Nov 29 (Reuters) - Walt Disney (DIS.N) Chief Executive Bob Iger said on Wednesday he would "definitely" step down when his current contract ends in 2026 and that the ABC broadcast network was not for sale. Iger returned to Disney as CEO in November 2022, less than a year after he retired, to revamp the media company after the board ousted his hand-picked successor, Bob Chapek. Disney's ABC unit is not up for sale, Iger said as the company deals with a decline in linear television because viewers are shifting toward streaming. Iger had said earlier this year that networks such as ABC may not be "core" to Disney going forward.

Persons: Bob Iger, Aly, Walt Disney, Iger, Bob Chapek, Zaheer Kachwala, Lisa Richwine, Maju Samuel, Cynthia Osterman Organizations: Shanghai Disney Resort, REUTERS, ABC, New York Times Dealbook Conference, Shanghai, Disney, New York Stock Exchange, Thomson Locations: Shanghai, China, Bengaluru, Los Angeles

☆ Snowflake sees product revenue above estimates on AI-driven demand
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 29 (Reuters) - Snowflake (SNOW.N) forecast quarterly product revenue above estimates on Wednesday, as increasing adoption of artificial intelligence boosted demand for its data cloud offerings. Snowflake expects product revenue for the fourth quarter to be in the range of $716 million to $721 million, which is above analysts' average estimate of $700.3 million, according to data from LSEG. For the third quarter, the company's revenue rose 32% to $734.2 million, above estimates of $713.1 million. Product revenue, which is derived from the consumption of compute, storage, and data transfer resources, was above estimates at $698.5 million for the quarter ended Oct. 31. The company also raised its product revenue forecast for 2024 to $2.65 billion from $2.60 billion.

Persons: Brendan McDermid, Frank Slootman, Arsheeya, Maju Samuel Organizations: Snowflake Inc, New York Stock Exchange, REUTERS, LSEG, Gartner, Thomson Locations: New York, U.S, Bozeman , Montana, Bengaluru

☆ China's Meituan launches $1 bln share buyback program
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

[1/2] Wang Xing, CEO of Meituan-Dianping attends at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, October 20, 2019. Meituan CEO Wang Xing had said on Tuesday that the board had authorised a share buyback of up to $1 billion but it would depend on the company's cash position due to plans to invest in new initiatives and explore overseas investments. "The Board believes that the current financial resources of the company would enable it to implement the share repurchase while maintaining a solid financial position," Meituan said in an exchange filing on Wednesday. The share repurchase will start from Dec. 1. Meituan, China's largest food delivery provider ahead of Alibaba's Ele.me, on Tuesday flagged expectations around fourth-quarter revenue growth for its core food delivery business to slow versus the preceding quarter.

Persons: Wang Xing, Dianping, Aly, Meituan, Alibaba's, Rishav Chatterjee, Maju Samuel Organizations: World Internet Conference, REUTERS, HK, Thomson Locations: Wuzhen, Zhejiang province, China, Bengaluru

☆ Workday raises annual subscription revenue forecast on steady product demand
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

Nov 28 (Reuters) - Workday (WDAY.O) raised its annual subscription revenue forecast and beat estimates for quarterly profit and revenue on Tuesday, benefiting from an easing macro environment and strong demand for its cloud-based software services. Shares of the Pleasanton, California-based company rose 3.2% in extended trading. The company now expects full-year subscription revenue of $6.598 billion, compared with its previous expectation of $6.570 billion to $6.590 billion. The company reported third-quarter total revenue of $1.87 billion, higher than analysts' estimates of $1.85 billion, according to LSEG data. Workday's subscription revenue rose 18.1% to $1.69 billion.

Persons: Carl Eschenbach, Zaheer Kachwala, Maju Samuel Organizations: ADP, Accenture, Thomson Locations: Pleasanton , California, Bengaluru

☆ Farfetch founder bids to take company private - Telegraph
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

A banner to celebrate the IPO of online fashion house Farfetch is displayed on the facade of the of the New York Stock Exchange (NYSE) in New York, U.S., September 21, 2018. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 28 (Reuters) - Online luxury retailer Farfetch's (FTCH.N) founder José Neves is looking to take the company private after a troubled New York Stock Exchange listing, the Telegraph reported on Tuesday. Shares of the company edged 20% higher following the news. Farfetch did not immediately respond to a Reuters request for comment. Reporting by Juveria Tabassum and Annett Mary Manoj; Editing by Maju Samuel and Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, José Neves, Neves, Farfetch, Juveria Tabassum, Mary Manoj, Maju Samuel, Shilpi Majumdar Organizations: New York Stock Exchange, REUTERS, Telegraph, JPMorgan, HK, Thomson Locations: New York, U.S, Swiss

☆ Hewlett Packard Enterprise beats quarterly profit estimates but forecast falters
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 28 (Reuters) - Hewlett Packard Enterprise (HPE.N) beat estimates for quarterly profit on Tuesday due to easing costs but unfavorable macroeconomic conditions led to a dour forecast for the current quarter. On an adjusted basis, the "edge-to-cloud" firm earned 52 cents per share, beating analysts' average estimate of 50 cents, according to LSEG data. In the fourth quarter, Texas-based HPE's net revenue fell 7% to $7.35 billion, marginally below estimates of $7.36 billion. Compute, its largest segment, reported revenue of $2.60 billion for the quarter, down nearly 31% from a year earlier. Annualized revenue run rate, a measure of future revenue, was up 39% at $1.30 billion in the quarter ended Oct. 31.

Persons: Brendan McDermid, Arsheeya, Maju Samuel Organizations: Hewlett Packard Enterprise Co, New York Stock Exchange, REUTERS, Hewlett Packard Enterprise, IT, Accenture, India's Tata Consultancy Services, Thomson Locations: New York City, U.S, HPE, Texas, Bengaluru

☆ EV battery startup ONE cuts workforce by 25%
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

The logo for Our Next Energy (ONE) is seen outside the company's headquarters in Novi, Michigan, U.S., April 25, 2022. Photo taken April 25, 2022. REUTERS/ Rebecca Cook/File Photo Acquire Licensing RightsNov 27 (Reuters) - Our Next Energy (ONE) said on Monday it has cut around 25% of its workforce, or 128 employees, as the electric-vehicle battery startup deals with high borrowing costs and an uncertain economy. Tesla (TSLA.O) supplier Panasonic Holdings (6752.T) said last month that it had cut automotive battery production in Japan in the September quarter, underscoring a global slowdown in EV sales due to high interest rates. Reporting by Zaheer Kachwala in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Rebecca Cook, Mujeeb Ijaz, Zaheer Kachwala, Maju Samuel Organizations: Next Energy, REUTERS, Energy, Apple, Panasonic Holdings, Thomson Locations: Novi , Michigan, U.S, Michigan, American, Japan, Bengaluru

☆ Zscaler's higher quarterly expenses outshine strong forecasts
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

Nov 27 (Reuters) - Zscaler (ZS.O) forecast quarterly revenue above analysts' estimates on Monday, but indications of strong cybersecurity spending were overshadowed by rising operating expenses. Shares of Zscaler fell more than 6% in after-hours trading as the cloud security company's operating expenses for the first quarter jumped by about 24% to $431.4 million. For the second quarter, Zscaler expects revenue between $505 million and $507 million, above analysts' average estimate of $496.7 million, according to LSEG data. Zscaler also raised its annual revenue and profit forecasts. The company's annual revenue is now estimated to be between $2.09 billion and $2.10 billion, compared to its previous forecast of $2.05 billion to $2.07 billion.

Persons: Jay Chaudhary, Remo Canessa, Zscaler, Arsheeya, Maju Samuel Organizations: Global, Gartner, Thomson Locations: California, Bengaluru

☆ China's Zeekr reveals revenue surge in updated financials ahead of US IPO
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +1 min

People walk past a booth of Zeekr, Chinese automaker Geely's premium electric vehicle (EV) brand, at a shopping mall in Beijing, China November 3, 2023. The company said its total revenue surged to 35.31 billion yuan ($4.90 billion) in the nine months ended Sept. 30, compared with 18.47 billion yuan a year earlier. However, its loss from operations widened to 5.23 billion yuan from 4.90 billion yuan. Zeekr is yet to disclose the size and the proposed price range for its offering. ($1 = 7.2111 Chinese yuan renminbi)Reporting by Manya Saini in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, Zeekr, Amnon Shashua, Manya Saini, Maju Samuel Organizations: REUTERS, Geely Auto, HK, Mobileye, Industrial, Thomson Locations: Beijing, China, New York, Guangzhou, Bengaluru

☆ Futures drift in shortened trading session
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +3 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSummaryCompanies Futures: Dow up 0.23%, S&P climbs 0.11%, Nasdaq off 0.01%Nov 24 (Reuters) - U.S. stock index futures were largely muted on Friday in a shortened trading session for Thanksgiving, although Wall Street looked on course to extend its weekly winning run on optimism that U.S. interest rates have peaked. The benchmark S&P 500 (.SPX) is about 1% away from setting a new high for the year. U.S. stock markets were shut on Thursday for the Thanksgiving holiday and will open for a truncated session ending at 1:00 p.m. ET, Dow e-minis were up 80 points, or 0.23%, S&P 500 e-minis were up 5 points, or 0.11%, and Nasdaq 100 e-minis were down 2 points, or 0.01%.

Persons: Brendan McDermid, Joshua Mahoney, Sruthi Shankar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal, Walmart, Composite, Dow e, Nvidia, Reuters, Volkswagen, Thomson Locations: New York City, U.S, China, Bengaluru

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. The benchmark S&P 500 (.SPX) is about 1% away from setting a new high for the year. The S&P 500 retail sector (.SPXRT) sub-index was, however, down 0.4%. Advancing issues outnumbered decliners by a 1.61-to-1 ratio on the NYSE and by a 1.54-to-1 ratio on the Nasdaq. Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Greg Bassuk, Sruthi Shankar, Shristi, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Nvidia, Dow, Nasdaq, Federal, AXS Investments, Insider Intelligence, Composite, Dow Jones, Reuters, Czech, Colt CZ, Volkswagen, NYSE, Thomson Locations: New York City, U.S, China, New York, Bengaluru

☆ Wall St climbs before holiday; investors optimistic Fed done hiking rates
▼ + stars: | 2023-11-23 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Still, stocks have risen sharply in recent weeks on the view the Fed is done hiking rates. Big tech-related shares were among those giving the S&P 500 its biggest boost. Communication services (.SPLRCL) rose 0.9%, leading S&P 500 gains in all sectors except for energy (.SPNY), which fell 0.1%. Among the day's negatives, Nvidia's (NVDA.O) shares fell 2.5%, a day after the chip designer forecast overall fourth-quarter revenue above Wall Street targets, but warned U.S. export curbs could lead to a steep drop in sales in China. The S&P 500 posted 45 new 52-week highs and one new low; the Nasdaq Composite recorded 89 new highs and 104 new lows.

Persons: Quincy Krosby, Brendan McDermid, decliners, Caroline Valetkevitch, Amruta Khandekar, Maju Samuel, Pooja Desai, Richard Chang Organizations: Deere, Dow, Nasdaq, Federal, Financial, New York Stock Exchange, REUTERS, Dow Jones, Communication, Wall, U.S, Deere & Co, NYSE, Thomson Locations: China, Charlotte , North Carolina, New York City, U.S

☆ Wall St gains before holiday, investors optimistic Fed done raising rates
▼ + stars: | 2023-11-22 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. Among the day's economic data, the number of Americans filing new claims for unemployment benefits fell more than expected last week. Still, stocks have risen sharply in recent weeks on the view that Fed is done hiking rates. She said stocks tend to rise just before the Thanksgiving holiday and also to rally heading into year-end. The S&P 500 posted 45 new 52-week highs and one new low; the Nasdaq Composite recorded 80 new highs and 89 new lows.

Persons: Brendan McDermid, Quincy Krosby, Caterpillar, decliners, Amruta Khandekar, Maju Samuel, Pooja Desai, Richard Chang Organizations: New York Stock Exchange, REUTERS, Deere, Dow, Nasdaq, Financial, U.S, Dow Jones, Wall, Deere & Co, NYSE, Thomson Locations: New York City, U.S, China, Charlotte , North Carolina

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. Nvidia forecast overall revenue above Wall Street targets, but the company warned U.S. export curbs could lead to a steep drop in fourth-quarter sales in China. Shares of Nvidia had initially slipped in premarket trading, but reversed course to climb 1.1%. The central bank's guarded stance is weighing on enthusiasm about rate cuts coming later, Streeter said. ET, Dow e-minis were down 5 points, or 0.01%, S&P 500 e-minis were up 6 points, or 0.13%, and Nasdaq 100 e-minis were up 37.25 points, or 0.23%.

Persons: Brendan McDermid, Susannah Streeter, Hargreaves Lansdown, Sam Altman, Streeter, Caterpillar, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Deere, Co, Dow, Nasdaq, Nvidia, Wall, U.S, Hargreaves, OpenAI, Microsoft, Big Tech, University of, Dow e, Deere & Co, Thomson Locations: New York City, U.S, China

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. However, minutes from the latest Fed meeting on Tuesday showing policymakers' cautious approach towards monetary policy weighed on optimism around the prospects of a rate cut early next year. The three headwinds were higher energy prices, higher Treasury yields and a stronger dollar and for the last three weeks, all of those headwinds now become tailwinds," said Hogan. Advancing issues outnumbered decliners by a 2.31-to-1 ratio on the NYSE and by a 2.24-to-1 ratio on the Nasdaq. The S&P index recorded 34 new 52-week highs and one new low, while the Nasdaq recorded 54 new highs and 40 new lows.

Persons: Brendan McDermid, Art Hogan, Hogan, Sam Altman, Caterpillar, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Deere, Co, Dow, Nasdaq, Federal Reserve, Data, Riley, Traders, Nvidia, Wall, U.S, Investors, OpenAI, Microsoft, Dow Jones, Deere & Co, NYSE, Thomson Locations: New York City, U.S, China

The Nasdaq boasted its highest closing level since July 31 while the S&P 500 registered its highest close since Aug. 1. Its biggest boost came from Microsoft (MSFT.O) shares which touched a record high and ended up 2%. The benchmark S&P 500 (.SPX) ended less than 1% below its 2023 closing peak reached in late July. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The S&P 500 posted 29 new 52-week highs and one new low; the Nasdaq Composite recorded 78 new highs and 90 new lows.

Persons: Bristol Myers, Satya Nadella, Sam Altman, Greg Brockman, Bruce Zaro, Dow, Brendan McDermid, Germany's Bayer, decliners, Sinéad Carew, Amruta, Maju Samuel, Pooja Desai, Richard Chang Organizations: Microsoft, Bristol, Dow, Nasdaq, Nasdaq's, Nvidia, Apple, Granite Wealth Management, Dow Jones, Federal, New York Stock Exchange, REUTERS, Graphics, Traders, Bristol Myers Squibb, Sunday, Boeing, Deutsche Bank, NYSE, Thomson Locations: Providence , Rhode Island, New York City, U.S, Thursday's U.S, New York

☆ Futures drift lower as Nvidia results, Fed minutes loom
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +3 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Big Tech stocks, which have powered most of the S&P 500's gains this year, now face an important test with Nvidia due to report third-quarter results after markets close. Before the quarterly report, minutes of the Fed's November meeting are likely to offer more cues on the monetary policy path after evidence of slowing inflation boosted expectations that U.S. interest rates had peaked. ET, Dow e-minis were down 51 points, or 0.14%, S&P 500 e-minis were down 4.75 points, or 0.1%, and Nasdaq 100 e-minis were down 4 points, or 0.02%. Among other stocks, U.S.-listed shares of Baidu gained 2% as China's biggest internet search engine provider's third-quarter revenue beat estimates.

Persons: Brendan McDermid, Stuart Cole, Cole, Amruta Khandekar, Ankika Biswas, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Big Tech, Nvidia, Equiti, Traders, Dow e, Baidu, Thomson Locations: New York City, U.S, China

The logo of Forbes magazine is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. REUTERS/Sergei Karpukhin/File Photo Acquire Licensing RightsNov 21 (Reuters) - Forbes' parent company has called off its acquisition by Luminar Technologies (LAZR.O) CEO Austin Russell, as the billionaire could not come up with the financing, an internal Forbes memo seen by Reuters on Tuesday showed. Forbes was valued at $475 million in 2014 when Integrated Whale Media bought a majority stake in the company from the Forbes family and investment group Elevation Partners. Chinese conglomerate HNA Group made an unsuccessful bid to acquire a majority stake in Forbes in 2017, Reuters reported at the time. Forbes, one of the oldest U.S. media outlets, publishes its eponymous flagship magazine, which reaches 5 million readers.

Persons: Sergei Karpukhin, Forbes, Austin Russell, Mike Federle, Dawn Chmielewski, Helen Coster, Akash Sriram, Maju Samuel, Richard Chang Organizations: Forbes, St ., Economic, REUTERS, Luminar Technologies, Reuters, Forbes Media, The, Integrated Whale Media, Partners, HNA Group, Thomson Locations: St, St . Petersburg, Russia, Russell's, U.S, Los Angeles, New York, Bengaluru

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Big Tech stocks, which have powered most of the S&P 500's gains this year, now face an important test, with Nvidia due to report third-quarter results after markets close. Declining issues outnumbered advancers for a 2.33-to-1 ratio on the NYSE and for a 2.04-to-1 ratio on the Nasdaq. The S&P index recorded 19 new 52-week highs and no new low, while the Nasdaq recorded 24 new highs and 36 new lows. Reporting by Amruta Khandekar and Shristi Achar A; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Robert Pavlik, Pavlik, Lowe's Cos, advancers, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Big Tech, Nvidia, Dakota Wealth, Traders, Dow Jones, Kohl's, NYSE, Thomson Locations: New York City, U.S, China

☆ US seeks more than $4 billion from Binance to end criminal case -Bloomberg News
▼ + stars: | 2023-11-20 | by ( Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | October | ) www.reuters.com time to read: +3 min

A smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. Negotiations between the Justice Department and Binance include the possibility that the cryptocurrency exchange's founder, Changpeng Zhao, would face criminal charges in the United States, the report said. The Bloomberg report said an announcement on the resolution could come as soon as the end of this month. A spokesperson for the Justice Department declined to comment. The DOJ probe is one of a string of legal and regulatory headaches the world's biggest crypto exchange faces in the United States.

Persons: Dado Ruvic, Changpeng Zhao, Sam Bankman, Binance, Zhao, Niket, Tom Wilson, Chris Prentice, Arun Koyyur, Maju Samuel, Bill Berkrot Organizations: REUTERS, U.S . Justice Department, Binance Holdings, Bloomberg, Justice Department, Binance, Reuters, DOJ, Securities and Exchange Commission, SEC, Futures Trading Commission, Thomson Locations: United States, Bengaluru, London, New York

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