The chip maker attributed nearly $16 billion in charges to its sweeping restructuring efforts. The company’s rosy sales forecast sent shares up about 10% after hours.
Investors can expect a bleak outlook for department stores that have struggled to provide consumers with the value they’re looking for, but discounters such as T.J. Maxx, Ross Dress for Less and Burlington anticipate higher foot traffic this holiday season.
The cable and entertainment company also said it will consider partnerships in streaming as it posted a jump in third-quarter revenue fueled by its media businesses.
The biggest U.S. military shipbuilder pulled its five-year free cash-flow forecast amid uncertainty about a submarine contract, supply-chain disruption and the loss of experienced workers.
The European Union fined Israel’s Teva Pharmaceutical 462.6 million euros, saying it abused its market position in a way that might have delayed competitors from entering the multiple sclerosis market.
Peloton Interactive appointed Peter Stern as chief executive officer following a months-long search for a new leader to continue its turnaround efforts.
The European Commission, the EU’s executive arm, said it had opened formal proceedings against the Chinese e-commerce platform to assess whether it may have breached Europe’s digital services regulations.
Stellantis said third-quarter group shipments fell 20% on the year as the company works to reduce the number of cars stocked at U.S. dealers and as it suffered from gaps in its product line-up ahead of new car launches.
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