JPMorgan Chase & Co. Chief Executive Jamie Dimon praised the business environment in Texas during a visit there this week, while blasting his home state of New York as unfriendly to companies.The JPMorgan Chase JPM, +0.52% CEO cited the Lone Star State’s lack of income tax and lighter regulatory regime as examples of why it continues to attract business.“We like having a big market share here, and we like being here,” Dimon said on Tuesday, as reported by the Houston Business Journal. A JPMorgan Chase spok ...

You don’t have to be in the artificial intelligence business to see your stock go nuclear.Shares of this old-economy company rallied further into record territory Wednesday, the day after they booked a record one-day gain, to propel it to the top of the S&P 500 index’s SPX list of best performers for the month of February.The rally took them above those of new-economy darling and AI play, Nvidia Corp.’s stock NVDA, -0.52%, which fell 0.4% in afternoon trading Wednesday to sit in third place with a 27.4% gai ...

Apple Inc. is scrapping an ambitious, decade-long effort to develop an electric car with self-driving capabilities, according to reports Tuesday.Bloomberg News first reported that Apple AAPL, +0.81% executives made the announcement internally Tuesday, and that some employees on the car team would be shifted to other parts of the company, particularly Apple’s AI division. Other workers will likely be laid off.The Wall Street Journal and New York Times later confirmed the report. Apple did not immediately res ...

“ This will not end well, but not yet. It’s still early in the bubble.”Technical deteriorations in the U.S. stock market were apparent last week, but Nvidia Corp.’s NVDA, -0.05% blowout earnings report saved the day. The tech giant’s results beat Wall Street’s expectations on all metrics, and the company also guided upwards. There wasn’t anything to dislike about the report. As a consequence, the PHLX Semiconductor Index SOX, which is a bellwether for artificial-intelligence-related plays, rallied strongly. ...

U.S. stocks opened little changed Tuesday, as traders took a breather before important economic data later in the week, including a closely watched inflation gauge.On Monday, the Dow, S&P 500 and Nasdaq Composite logged small declines. The small pullback came after the Dow and S&P 500 ended last week at records and the Nasdaq Composite flirted with its first record finish in more than two years.What’s driving markets Tentative trading extended into a second day after a rally that has left the S&P 500 up 11. ...

Lowe’s Cos. Inc. LOW, -0.53% came up shy with its full-year outlook Tuesday, but its stock was moving fractionally higher in premarket action. The company racked up fiscal fourth-quarter net earnings of $1.0 billion, or $1.77 a share, compared with $957 million, or $1.58 a share, in the year-before period. Lowe’s saw adjusted earnings per share of $2.28, while analysts surveyed by FactSet were modeling $1.68. Revenue fell to $18.6 billion from $22.4 billion. Lowe’s noted that the year-earlier quarter’s fig ...

“‘When we had the internet bubble the first time around … that was hype. This is not hype. It’s real’”That’s JPMorgan Chase & Co. Chief Executive Jamie Dimon on artificial intelligence and its prospects for real change.Dimon told CNBC-TV on Monday at an interview in Miami at JPMorgan Chase’s JPM, -0.34% Global High Yield & Leveraged Finance Conference that compared to the internet bubble of the late 1990s, AI offers more substantial prospects.Dimon said he’s a “big optimist” for artificial intelligence and ...

Li Auto’s shares 2015, +19.09% rose sharply in Hong Kong after the Chinese electric-vehicle maker roundly beat earnings expectations with jumps in quarterly profit and revenue on the back of rising demand for its SUVs and other cars. Shares were 20% higher at 167.10 Hong Kong dollars (US$21.36), on track for their biggest one-day percentage gain in almost two years. The jump, which came after a steep rise in U.S.-listed ADRs LI, +18.79% overnight, pulled shares into the green for the year, and took 12-mo ...

Shares of Workday Inc. fell 8% in after-hours trading Monday after the software company merely met revenue expectations for the latest quarter, while announcing an artificial-intelligence deal. The company reported fiscal fourth-quarter net income of $1.2 billion, or $4.52 cents a share, whereas it reported a net loss of $126 million, or 49 cents a share, in the year-earlier period. Net income in the latest quarter reflected a $1.1 billion release of a valuation allowance related to deferred tax assets. ...

Broadcom’s AVGO, +0.98% Chief Executive Hock Tan made over $160 million last year, mostly in stock awards.The semiconductor and software company said in a proxy statement Monday that Tan’s compensation was $161.8 million in 2023, of which $160.5 million was in stock awards.Also see: Broadcom stock rises to a record after $4 billion deal to sell its EUC DivisionTan’s base salary of $1.2 million has remained unchanged for the last three years. The company said the stock awards represent the fair value of the ...