Intel Corp.’s upcoming earnings report is expected to be a busy one as the chip maker discusses trends in the personal-computing and data-center markets, as well as the budding opportunity in artificial intelligence. The results, due out Thursday after the closing bell, come as Intel’s stock INTC, +1.11% has enjoyed a sharp 50%-plus move higher since the company last presented its numbers to Wall Street. Read: Missed the boat on AMD’s stock surge? Why this analyst says you’re not too late. That rally “has r ...

Microsoft Corp. is cutting 1,900 workers in its gaming business, according to a report, making it the latest tech company to conduct videogame-related layoffs.Microsoft MSFT, +0.81% gaming CEO Phil Spencer told employees that the cuts aim to reduce “areas of overlap” following the tech giant’s acquisition of Activision Blizzard last year, CNBC reported, citing a memo sent Thursday. In the memo, Spencer said that people impacted by the reductions have played “an important part” in the success of the Activisi ...

Shares of Google parent Alphabet Inc. are tracking toward an all-time high on Thursday, days before the company is expected to announce strong quarterly results. The stock, which is up 3% to $152.88 in late-morning trading, has been on a tear to start 2024 as it rides the broader tech rally. Both Alphabet Class A and Class C shares are on pace for their first record closes since Nov. 18, 2021. Numbers to watch: $149.84 for Class A shares GOOGL, +2.59% ; $150.71 for Class C shares GOOG, +2.63%. The compa ...

As Tesla Inc. cuts prices and scales back its delivery goals, even one prominent bull is feeling spooked about the electric-vehicle company’s lack of clarity on the road ahead. Wedbush’s Daniel Ives, often effusively enthusiastic about the stock, didn’t mince words when summarizing Tesla’s TSLA, -0.63% Wednesday afternoon earnings call, which he dubbed a “track wreck.”“We were dead wrong expecting Musk and team to step up like adults in the room on the call and give a strategic and financial overview of the ...

Comcast Corp. continued to shed broadband subscribers in the fourth quarter, though not as many as Wall Street had expected. The company on Thursday reported 34,000 total domestic broadband net losses for the latest quarter, consisting of 31,000 net losses in the residential market and 3,000 in the business market. Analysts were expecting the company to lose a net of 61,000 domestic broadband subscribers in total, after losses of 18,000 and 19,000 in the prior two quarters. Broadband-subscriber losses ...

OLYMPIA, Wash. — The Washington state attorney general announced a $149.5 million settlement Wednesday with drug maker Johnson & Johnson, more than four years after the state sued the company over its role in the opioid addiction crisis.“They knew what the harm was. They did it anyway,” Attorney General Bob Ferguson told reporters Wednesday.The attorney general’s announcement came as opioid overdose deaths more than doubled from 2019 to 2022, with 2,048 deaths recorded in 2022, according to the most recent ...

Elon Musk is being disingenuous to investors when he tells them that he does not really want voting control of Tesla Inc.In Tesla’s TSLA, -0.63% earnings conference call on Wednesday, after the electric-vehicle maker warned of slower growth next year, Musk was asked by an investor if retail shareholders be concerned about his recent comments about voting control. Earlier this month on X, formerly Twitter, Musk said he is uncomfortable growing Tesla as a leader in AI and robotics if he doesn’t have 25% of th ...

The Federal Aviation Administration on Wednesday said it would not allow Boeing Co. BA, +1.24% to expand production of its Max jets, following a mid-flight blowout on a flight that led to the grounding of dozens of those planes. The agency also said it approved a “thorough inspection and maintenance process” required for each of the grounded 171 Boeing 737 Max 9 aircrafts before they could return to service. Boeing did not immediately respond to a request for comment. “The exhaustive, enhanced review our t ...

Megacap technology stocks have retaken leadership of the U.S. stock market as the S&P 500 hit yet another record closing high, defying hopes on Wall Street for a more broad-based rally. Since the start of 2024, the so-called Magnificent Seven have gained a combined $540.7 billion in market capitalization, compared with a total market-cap gain of $802.5 billion for the S&P 500 through Tuesday’s close, according to Dow Jones Market Data. Some members of the group, including the high-flying artificial-intellig ...

International Business Machines Corp.’s stock was riding about 5% higher in Wednesday’s extended session after the technology giant topped profit expectations for the latest quarter and called out an uptick in artificial-intelligence demand. The company posted net income of $3.3 billion, or $3.55 a share, compared with $2.9 billion, or $2.96 a share, in the year-earlier period. On an adjusted basis, IBM IBM, -0.01% earned $3.87 a share from continuing operatings, whereas analysts were modeling $3.79 a share ...