SpaceX Eyeing Roughly $1.75 Trillion Valuation in IPO Next Week

Banks are in line to make hundreds of millions of dollars from the offering; JPM has an additional role as party planner.

Palo Alto Networks Revenue Rises as Customers Beef Up Cyber Defenses

Chief Executive Officer Nikesh Arora said the results should demonstrate that fears of a so-called "SaaS-Pocalypse," in which AI-native firms will come to displace legacy software incumbents, are misplaced as applied to the cybersecurity industry.

GameStop Posts Higher Profit, Launches $2 Billion Buyback Program

The videogame retailer said sales rose to $835.3 million, driven by collectibles.

GitLab to Cut 14% of Workforce as Part of AI Pivot

The maker of software-development tools is cutting 350 full-time employees and exiting 22 countries as part of a restructuring it floated in May.

Ulta Beauty Revenue Rises on Growth Across Channels, Major Categories

The cosmetics and fragrances retailer's sales rose 11% in the fiscal first quarter.

GM's Profitable Trucks Targeted in Latest UAW Strike

The dispute at a Michigan parts supplier imperils GM's Chevrolet Silverado and GMC Sierra pickups as well as midsize trucks.

Coinbase Founder's Longevity Startup Triples in Value

Now worth $3.1 billion, NewLimit plans to test its RNA therapy in alcohol-related liver-disease patients next year.

Nestle Partners With Startup Helaina to Develop Infant Formula With Human Proteins

The partnership comes a few months after Nestle's infant nutrition business was rocked by a tainted-ingredient crisis.

UniCredit Clears Key 30% Threshold in Commerzbank Takeover Bid

The lender said Tuesday that shares representing around 7.6% of Commerzbank's share capital have been tendered as part of its roughly $28 billion takeover attempt.

Shake Shack Cuts Guidance Due to Uncertainty, Competition

Shake Shack scaled back its financial guidance as the burger chain continues to face a tough environment.

Dollar General Is Winning Over Value-Seeking, Stressed Shoppers

Dollar General's customers are feeling stressed, increasingly reining in spending on household expenses such as groceries as they face higher prices at the gas pump.

Genco Board Unanimously Rejects Diana Shipping's Latest Buyout Offer

Dry-bulk shipping company Genco said its board reached the decision after thoroughly reviewing the offer with external advisers and determining its value was below its net asset value and didn't include a control premium.

Philip Morris to Post $500 Million Impairment on Canada Affiliate

Philip Morris International said it is booking a roughly $500 million impairment charge in the second quarter to reduce the carrying value of its investment in Canadian affiliate Rothmans Benson & Hedges, or RBH.

Bra Sales Power Victoria's Secret Turnaround and Shares Soar

The lingerie and apparel retailer swung to a $47.7 million profit in the first quarter from a loss a year earlier, and raised its full-year outlook.

British American Tobacco Cuts Cigarette Outlook But Expects Lift in New-Category Revenue

The company said global industry volumes in its traditional cigarette market would likely be lower than previously expected this year.

STMicroelectronics Shares Rally After Chip Maker Raises Data-Center Revenue Target

Paris-listed shares jumped 8.2%, adding to a rally that has led the stock to nearly triple its value since the start of the year.

Nvidia's Huang Says Marvell May Join $1 Trillion Club

Jensen Huang says Marvell Technology could be the next chip firm to join the trillion-dollar club, predicting a surge in demand for AI hardware fueled by the emergence of autonomous models.

(END) Dow Jones Newswires

Dow Jones Top Company Headlines at 9 PM ET: SpaceX Eyeing Roughly $1.75 Trillion Valuation in IPO Next Week | Palo ...