Intel Drops 28.6%, Its Worst Day Since 1974
A weak profit forecast sent Intel shares down sharply on Friday and pulled the S&P 500 to its worst day since June. Amazon and Nvidia also fell.
Strategy
Rivian to License Its AI Assistant to Volkswagen Group
The Rivian and Volkswagen joint venture now covers elements of Rivian's AI voice assistant, according to Rivian's third-quarter investor presentation. Fees and vehicles were not disclosed.
LENZ Therapeutics Reorganizes, Cuts Costs and Changes CEO
The maker of the VIZZ presbyopia eye drop plans to cut 2027 operating costs by more than half and will hand the CEO role to its finance chief on December 1.
Sandoz CEO Warns Europe Over Its Last Penicillin Plant
Richard Saynor says Sandoz is the last penicillin manufacturer left in the Western world and wants a level playing field against heavily subsidized Asian rivals.
HSBC Profit Jumps 32% but Shares Drop on a Revenue Miss
Europe's largest bank reported third-quarter pretax profit of $9.6 billion and a buyback of up to $1 billion, yet revenue came in below forecasts.
Anthropic's S-1 Shows Enterprise Customers Buying Across Products
The IPO filing says over half of customers spending $100,000 a year now use both the Claude platform and a first-party app, up from about 30% at the end of last year.