Tag: Internet Media and Services

Barry Diller’s media conglomerate People Inc. is readying an offer to acquire MGM Resorts International  in a deal that values the casino operator at $18 billion, The New York Times reported Monday.

Shares of Dollar Tree rose sharply Thursday after the discount retailer reported better-than-expected quarterly earnings, lifted its fiscal-year guidance, and unveiled a partnership with DoorDash.

Uber’s board met on Saturday to discuss raising its offer for Delivery Hero, after a major shareholder rebuffed an approach that would have valued the German food delivery group at more than €11.5bn.

Alphabet stock is nearing a $5 trillion market cap—and the Google parent hasn’t gotten there just by standing still.

SoftBank booked a yearly gain of $46 billion at its Vision Fund driven mainly by the huge rise in value of its investment in OpenAI.

Airbnb reported mixed first-quarter results after the bell on Thursday and warned of regional weakness spurred by the war in Iran.

Online travel agency Expedia’s (EXPE.O), shares dropped 8% before the bell on Friday, after the ongoing conflict in the Middle East and a travel ​advisory in Mexico shaved about 200 basis points off its quarterly ‌bookings and room-night growth.

Uber reported first-quarter revenue on Wednesday that missed estimates, but the ride-hailing giant issued bookings guidance for the current quarter that exceeded analysts’ expectations.

 Pinterest Inc on Monday reported first-quarter results that exceeded Wall Street expectations, with adjusted earnings per share of $0.27 beating the analyst estimate of $0.23 by $0.04.

Alphabet reported first-quarter earnings after the bell Wednesday, showing revenue that topped expectations boosted by its surging cloud business. Shares climbed following the report.

Meta Platforms (META) beat expectations for its first-quarter earnings results on Wednesday afternoon. Its shares were still down 8% in pre-market trading Thursday.

The European Commission has found that Meta breached EU law by failing to prevent under-13s from accessing its platforms, as scrutiny of the tech giant’s handling of child safety intensifies.

Spotify (SPOT) forecast second-quarter earnings and premium subscribers below estimates on Tuesday, a sign of slowing growth in the Swedish streaming giant’s major markets of Europe and ​North America, sending its shares down 12% in premarket trading.

China’s state planner on Monday called for Meta to unwind its $2 billion acquisition of Manus, a Singaporean AI startup with Chinese roots.

Meta Platforms (META) said Friday that it will use Amazon (AMZN) chips to power some of its artificial-intelligence computing needs. The deal looks like validation of Amazon’s in-house chip plan.

Alphabet Inc.’s Google Cloud is launching a $750 million fund to help consulting firms including McKinsey & Co., Accenture Plc and Deloitte bring agentic artificial intelligence to their clients.

Marvell Technology (MRVL) was rising early Monday on a report it is in talks with Google about developing artificial-intelligence chips. That’s worrying for the search company’s primary processor partner Broadcom (AVGO).

Uber on Friday agreed to purchase an additional 4.5% of shares of German food delivery firm Delivery Hero from the company’s biggest shareholder Prosus.

The European Commission has proposed that Google allow third-party ​search engines to access its search data, including that of artificial ‌intelligence chatbots with search functionalities, to comply with the Digital Markets Act, the commission said on Thursday.

Snap’s shares jumped on Wednesday after the company announced plans to slash up to 16% of its global workforce, citing AI-driven efficiencies.