Lam Research forecast second-quarter revenue above Wall Street estimates on Wednesday, as chipmakers ordered more of its equipment used to manufacture semiconductors for artificial intelligence applic... ...

Core Insights - Brazilian power company Eletrobras is rebranding itself as Axia Energia, which the company states will not affect any existing contractual, business, or regulatory commitments [1] Company Summary - The name change to Axia Energia is part of a strategic move by Eletrobras to possibly enhance its market presence and brand identity [1] - The company reassures stakeholders that the rebranding will not disrupt ongoing operations or obligations [1] Industry Context - The rebranding may reflect broader trends in the energy sector, where companies are increasingly focusing on modernization and sustainability [1]

Textron chief executive Scott Donnelly will be succeeded by insider Lisa Atherton, effective January 4 next year, the aircraft maker said on Wednesday. ...

Core Insights - Moderna has decided to discontinue the development of its experimental vaccine aimed at preventing cytomegalovirus, which is a common cause of birth defects, due to its failure to meet the primary endpoint in a late-stage trial [1] Company Summary - The decision to halt the vaccine development reflects challenges in achieving clinical trial objectives, which may impact the company's pipeline and future research directions [1] - This move indicates a strategic shift for Moderna as it reallocates resources towards more promising projects within its portfolio [1] Industry Context - The discontinuation of the cytomegalovirus vaccine development highlights the difficulties faced by biopharmaceutical companies in bringing new vaccines to market, particularly for diseases that are less prioritized compared to more prevalent health issues [1] - The outcome may influence investor sentiment and market dynamics within the vaccine development sector, as companies navigate the complexities of clinical trials and regulatory approvals [1]

Southwest Airlines surprisingly reported a third-quarter profit on Wednesday, helped by stronger revenue and lower-than-expected operating costs. ...

Citigroup CEO Jane Fraser was elected as chair of board of directors, the bank said on Wednesday. ...

Molina Healthcare on Wednesday cut its annual profit forecast anticipating higher medical care costs to weigh on its results for the rest of the year. ...

German software maker SAP on Wednesday reported a 12%rise in third-quarter profit, boosted by strong cloud demand. ...

Core Insights - OpenAI, Oracle, and Vantage Data Centers are collaborating to develop a data center campus in Port Washington, Wisconsin, as part of the Stargate project [1] Company Developments - The partnership aims to enhance data processing capabilities and infrastructure in the region [1] - The project signifies a strategic move by these companies to expand their operational footprint in the Midwest [1] Industry Implications - The development of the data center is expected to contribute to the growing demand for cloud computing and data storage solutions [1] - This initiative aligns with the broader trend of increasing investment in data center infrastructure across the United States [1]

IBM beat Wall Street estimates for third-quarter revenue and profit on Wednesday, driven by booming demand for its software and new mainframe as the rush to deploy AI models boosts sales for the under... ...