Saudi Aramco reported a 26% rise in first-quarter profits, reaching $33.6 billion and beating analyst expectations. The company credited the strong performance partly to its East-West Pipeline, which reached full capacity and helped bypass disruptions in the Strait of Hormuz. Ongoing regional conflict and Iran-linked shipping disruptions have tightened global oil supply and pushed prices sharply higher. Despite market volatility, Aramco increased its dividend and … Continue reading Saudi Aramco Q1 profit jumps 26% as key pipeline reaches capacity

Cloudflare reported strong first-quarter earnings that beat Wall Street expectations for both revenue and profit, driven by 34% year-over-year revenue growth. Despite the positive results, shares dropped sharply after the company announced it would cut about 20% of its workforce, or more than 1,100 jobs, citing the impact of AI on its operations. CEO Matthew Prince said the shift to an “AI-first” model has fundamentally … Continue reading Cloudflare stock sinks 18% after earnings as company cuts 1,100 employees

Oil prices rose on Friday after the United States and Iran exchanged fire in the Strait of Hormuz, raising fears that a fragile ceasefire between the two countries was breaking down. Brent crude and U.S. West Texas Intermediate both climbed as tensions threatened disruption to one of the world’s most important oil shipping routes. The flare-up came amid ongoing accusations from both sides and uncertainty over a possible U.S.–Iran peace … Continue reading Oil resumes rally as U.S.-Iran fire exchange rattles fragile ceasefire

A recall has been issued for certain flavors of Zapp’s and Dirty Potato Chips due to a possible salmonella contamination linked to a seasoning ingredient. The U.S. Food and Drug Administration said multiple chip varieties, including salt and vinegar, cheddar-style, and sour cream and onion, may be affected and advised consumers not to eat them. Although initial testing of the seasoning showed no contamination, officials … Continue reading FDA recalls 9 popular potato chips over potential salmonella contamination

Warner Bros. Discovery reported a $2.9 billion net loss for the first quarter, driven largely by acquisition-related accounting costs, restructuring expenses, and a $2.8 billion termination fee tied to a failed deal involving Netflix. Revenue fell slightly year over year, though adjusted earnings increased, and the company continues to carry significant debt. Streaming was a bright spot, with strong subscriber growth and rising revenue from … Continue reading Warner Bros. Discovery books $2.9 billion net loss tied to Paramount deal

Delta Air Lines announced it will end food and beverage service on flights under 350 miles starting May 19, except for first-class passengers. The airline said the change is meant to create a more consistent service experience across its network, affecting about 9% of its flights. Some passengers on longer routes and in certain cabins will see expanded food and drink options under the new … Continue reading Delta ending food and beverage service on shorter flights

AMD reported strong first-quarter results, with revenue up 38% to $10.3 billion and earnings exceeding Wall Street expectations. Its data center segment grew 57%, though profit margins came in slightly below forecasts. The company issued upbeat second-quarter guidance, helping drive its stock higher in after-hours trading. CEO Lisa Su highlighted strong demand for AI computing and projected significant growth in AMD’s AI data center business … Continue reading AMD Stock Soars on Strong Earnings and Growing Confidence About AI

Palantir reported strong first-quarter earnings that exceeded Wall Street expectations, with revenue rising about 85% to $1.63 billion and adjusted earnings per share of 33 cents. Net income nearly quadrupled from a year earlier, and the company also raised its full-year revenue and cash flow forecasts above analyst estimates. CEO Alex Karp said the company’s results reflect exceptional growth, highlighting high revenue per employee and … Continue reading Palantir tops estimates on 85% revenue growth, fastest expansion since market debut

Oil prices surged sharply after renewed violence in the Strait of Hormuz raised fears that the fragile U.S.–Iran ceasefire could collapse. Brent crude rose nearly 6% to above $114 a barrel as markets reacted to reports of attacks on commercial shipping and U.S. strikes on Iranian boats, though Iran denied some of the claims. Despite U.S. efforts to secure the waterway, shipping companies remain hesitant … Continue reading Oil prices surge as violence flares in Strait of Hormuz

GameStop’s shares dropped more than 10% after the company announced a surprise $55.5 billion bid for eBay, raising concerns about how the deal would be financed. CEO Ryan Cohen faced repeated questions about funding but gave unclear responses, while the company proposed using cash, stock, and debt financing to structure the offer. Analysts noted a significant gap between GameStop’s valuation and the total value of … Continue reading GameStop shares fall 10% after CEO skirts questions over eBay acquisition details

OPEC+ agreed to increase oil production by 188,000 barrels per day starting in June, slightly less than its previous monthly increase, as it continues coordinated output adjustments among major producers. The decision comes during ongoing global supply disruptions linked to the Iran conflict, which has affected key shipping routes like the Strait of Hormuz and pushed oil prices higher. The meeting was the first since … Continue reading OPEC+ announces 188,000 barrels-per-day output increase

Spirit Airlines has nearly completed refunding customers after abruptly shutting down operations and canceling thousands of flights over the weekend. The budget carrier said it was forced to fold after years of financial struggles and a sharp rise in jet fuel prices, which it says worsened its outlook. The airline had already filed for bankruptcy twice and failed to secure new funding or a rescue … Continue reading Spirit Airlines says it has nearly finished refunding customers after shuttering

GameStop has made an unsolicited $55.5 billion cash-and-stock offer to acquire e-commerce company eBay, valuing it at $125 per share. GameStop CEO Ryan Cohen said the deal would generate about $2 billion in annual cost savings and significantly reduce marketing spending at eBay. He would lead the combined company and be compensated based on performance rather than salary or bonuses. The proposal is partially backed … Continue reading GameStop makes $55.5bn takeover offer for eBay

The United Arab Emirates has officially exited OPEC, a move experts say could weaken the cartel’s ability to control global oil prices and is likely to be welcomed by the United States. The UAE has long expressed frustration with OPEC production limits, saying they restricted its ability to sell increased output despite investments to expand capacity. Analysts say the country could eventually add up to … Continue reading UAE exit from OPEC signals closer alignment with US interests

Exxon Mobil and Chevron reported lower first-quarter profits despite surging global oil prices driven by disruptions from the Iran war. Exxon’s earnings fell about 46% year-over-year and Chevron’s about 37%, though both companies still beat Wall Street expectations. The declines were largely attributed to timing issues and delayed oil shipments in the Middle East, which postponed revenue recognition. Despite the short-term drop, both firms are … Continue reading Exxon and Chevron quarterly earnings fall despite soaring oil prices

U.S. consumers faced rising prices in March as oil costs surged due to the Iran war, pushing inflation higher, according to the U.S. Department of Commerce. Core inflation rose to 3.2%, its highest level since late 2023, while overall inflation reached 3.5%, driven largely by energy prices. The economy grew at a modest 2% annualized rate in the first quarter, slightly below expectations despite strong … Continue reading Core inflation rate hit 3.2% in March

New U.S. jobless claims fell sharply to 189,000 last week, the lowest level in more than 50 years, according to the U.S. Department of Labor. The decline suggests layoffs remain very low despite economic uncertainty tied to higher energy prices and the ongoing Iran war. Economists note the labor market is in a “low-hire, low-fire” state, with hiring slowing but job losses also limited. Inflation … Continue reading U.S. jobless claims fall to lowest in more than five decades

U.S. economic growth rebounded in the first quarter, with GDP rising at an annualized rate of 2%, according to the Bureau of Economic Analysis. The result was slightly below economists’ expectations of 2.3% but marked an improvement from the weaker end of 2025. Growth was driven by consumer spending, investment, exports, and government spending, with strong gains in AI-related technology investment. Some sectors like housing … Continue reading US economic growth bounces back

The three major U.S. automakers—General Motors, Ford, and Stellantis—are set to report first-quarter earnings this week amid rising costs tied to the Iran war and supply chain pressures. Analysts expect GM to outperform its rivals, Ford to post weak results, and Stellantis to face the most challenges despite support from its Jeep and Ram brands. Industry headwinds include higher commodity prices, slowing demand, and losses … Continue reading Wall Street expects solid Q1 results for GM

Domino’s Pizza stock fell more than 8% after the company reported weaker-than-expected U.S. same-store sales growth of 0.9%, below Wall Street forecasts. The company also lowered its full-year outlook, now expecting only low-single-digit growth instead of 3%. CEO Russell Weiner pointed to weather issues, weak consumer sentiment, and rising competition from rivals offering aggressive promotions. Despite the short-term slowdown, Weiner said Domino’s remains confident due … Continue reading Domino’s Pizza stock falls on disappointing sales

Stock futures fell on Sunday night as renewed tensions over stalled U.S.–Iran peace talks and unrest in the Strait of Hormuz pushed oil prices higher. Major indexes including the Dow, S&P 500, and Nasdaq futures all dipped slightly ahead of a busy week for markets. President Donald Trump cancelled planned envoy talks, saying negotiations could proceed by phone, while Iran said no meeting is scheduled. … Continue reading Stock futures fall as Iran peace talks stall

Oil prices rose more than 2% after stalled U.S.–Iran peace talks reduced hopes for a ceasefire and increased uncertainty in global energy markets. Brent crude climbed to around $106.99 as diplomatic efforts faltered following cancelled negotiations and ongoing tensions. Meanwhile, Iranian officials continued talks with Russia as Tehran sought support amid the deadlock. Despite the disruption in oil diplomacy, Asian stock markets opened higher, showing … Continue reading Oil prices rise amid stalled US-Iran peace talks

Intel reported stronger-than-expected first-quarter earnings, sending its shares sharply higher and fueling signs of a potential turnaround after years of struggling in the chip market. Revenue rose 7.2%, driven in part by a 22% jump in its data center business as demand for AI-related CPU processing grows. The company also issued an upbeat forecast for the next quarter, well above Wall Street estimates, even as … Continue reading Intel’s stock soars 20% as results top estimates

Nike announced a new round of layoffs affecting about 1,400 employees, mostly in its technology division, as part of its broader “Win Now” restructuring plan. The company said the changes are aimed at streamlining operations, modernizing manufacturing, and better integrating supply chain and footwear systems. The layoffs span North America, Europe, and Asia and represent less than 2% of Nike’s global workforce. Executives described the … Continue reading Nike cuts 1,400 roles in second round of layoffs this year

United Airlines cut its 2026 earnings forecast as rising jet fuel prices, driven by the Iran conflict, increase operating costs. The airline now expects adjusted earnings of $7 to $11 per share, down sharply from its earlier $12 to $14 outlook. It also lowered its second-quarter profit guidance and warned that higher fuel costs will significantly weigh on results. United is reducing planned flight capacity … Continue reading United Airlines slashes 2026 forecast as fuel costs surge