News Highlights: Top Company News of the Day - Friday at 9 AM ET

Dow Jones04-12
JPMorgan's First-Quarter Earnings Rose 6% 

The bank projected muted growth for the rest of the year, reflecting pressure on banks' lending businesses from higher interest rates.

China Tells Telecom Carriers to Phase Out Foreign Chips in Blow to Intel, AMD 

The move is the latest installment in a U.S.-China technology war that is splintering the global chip industry.

Tech Earnings Are Back. Watch AI, These 8 Stocks. 

So far, AI hype has focused on chips and infrastructure.This quarter, the focus shifts to software companies.

Paramount plans to trim size of its board amid merger talks 

Paramount Global on Thursday said it plans to trim the size of its 11-member board of directors to seven, as it continues exclusive merger talks with Skydance Media.

Thyssenkrupp Steel to Cut Output, Jobs 

Thyssenkrupp Steel plans to reduce its production capacity to between 9 million and 9.5 million metric tons a year, broadly in line with its shipments over the past three years and cut jobs, in response to challenging market conditions, with weak demand, high energy costs and rising competition from Asia hurting its business.

Rivian Stock Closed at a Record Low. Blame Ford. 

Ford looks to be cutting prices of its all-electric pickup truck. That would put pressure on other manufacturers.

Amazon's stock finally clinches a fresh record close 

The company is edging closer to a $2 trillion market value.

Boeing Reveals Executives Got an Extra $500,000 in Private-Jet Perks 

A Boeing review found that Chief Executive David Calhoun and other top executives took personal trips worth more than $500,000 on the company's private jets and other planes that were improperly recorded as business travel.

Morgan Stanley's Wealth Arm Probed by Multiple Federal Regulators 

Treasury Department offices and others are looking into how Morgan Stanley vets clients at risk of laundering money through the bank's wealth-management division. Shares fell more than 5%.

Micron says Taiwan earthquake will have mid-single digit percentage impact on quarterly DRAM supply 

The earthquake that hit Taiwan earlier this month has not caused any permanent damage to Micron's facilities, infrastructure or tools.


(END) Dow Jones Newswires

April 12, 2024 09:00 ET (13:00 GMT)

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