- Recent corporate developments include SpaceX securing lucrative contracts, Abbott paying $670 million to settle baby-formula litigation, and Charter closing its $34.5 billion Cox deal.
- Major banks and corporations have implemented workforce reductions, with JPMorgan layoffs hitting their highest level since 2015 and Starbucks cutting over 200 corporate workers.
- Additional financial updates feature Micron planning a $10 billion research lab, Ross Stores boosting its annual outlook, and James Hardie selling its Fermacell business for $980 million.
- Walmart shares fell 9 % due to recording their weakest sales growth in over 6 years.
- Alibaba reported weaker fiscal first-quarter earnings as it invested heavily in artificial intelligence to preserve its market lead.
- CK Hutchison filed international arbitration against Panama seeking $ 1.5 billion in damages over a port dispute.
