Tesla shares drop nearly 6% after Musk cuts about 500 jobs in Supercharger team
Tesla is continuing a sweeping reorganization and laying off some 500 employees from its Supercharger team.
Super Micro pushes up full-year revenue forecast as it points to strong AI demand
Super Micro is now a component of the S&P 500 index. The company’s growth accelerated to 200% from 103% in the previous quarter, but revenue still missed.
Amazon’s cloud margin widens on accelerating revenue growth
Amazon’s cloud unit is delivering the best operating margin at least since 2014.
Stocks could have further to fall in May after this month’s market woes
Many investors worry stocks will decline further before finding a durable bottom even after April’s losses.
FTC challenges ‘junk’ patents held by 10 drugmakers, including for Novo Nordisk’s Ozempic
The agency sent letters to Novo Nordisk, AstraZeneca, Boehringer Ingelheim, Covis Pharma, GlaxoSmithKline, Novartis, Teva Pharmaceuticals, among others.
Biden administration plans to reclassify marijuana, easing restrictions nationwide
Cannabis is currently classified along with drugs like heroin and LSD. The DEA is expected to reschedule it into a category that includes Tylenol and steroids.
Eight newspaper publishers sue Microsoft and OpenAI over copyright infringement
Eight newspaper publishers alleged that Microsoft and OpenAI used millions of their articles without payment or permission to train AI models like ChatGPT.
Amazon profit more than triples, topping Wall Street expectations
Amazon surpassed analyst expectations for revenue and earnings in the first quarter.
An important student loan forgiveness deadline is hours away — and it takes under 15 minutes to apply
Some student loan borrowers have until April 30 to take advantage of an opportunity to get their debt forgiven sooner than they would have otherwise.
Bank of America says buy this dip ahead of a summer market rally
Bank of America’s Stephen Suttmeier forecasts headwinds for the S&P 500 in May before a summer rally.
