Business News

Australia’s Qantas Airways Ltd said on Thursday it formally canceled a longstanding order for eight Airbus SE A380 superjumbo jets.

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The head of General Motors Co’s Cruise self-driving car unit stands to make more than $179 million over the next decade if the technology subsidiary experiences a change in ownership or is listed publicly, according to a regulatory filing on Wednesday.

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As some market watchers brace for a potential U.S. earnings recession this year, one prominent equity strategist says the picture is not as bad as feared.

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The head of General Motors Co’s Cruise self-driving car unit stands to make more than $179 million over the next decade if the technology subsidiary experiences a change in ownership or is listed publicly, according to a regulatory filing on Wednesday.

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Chipotle Mexican Grill Inc topped Wall Street forecasts for quarterly earnings as aggressive marketing helped lure more diners and boost online orders, sending its shares up 10 percent in after-hours trading on Wednesday.

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Drugmakers Pfizer Inc, Bristol-Myers Squibb Co and Sanofi SA said on Wednesday that their chief executives plan to testify at a Senate hearing on rising prescription drug prices later this month.

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Novartis AG Chief Executive Vas Narasimhan said his company’s prescription drug prices have been “flat to negative” over the last three years, and directed blame for high costs for U.S. patients on industry middlemen that manage drug benefits.

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Chipotle Mexican Grill Inc topped Wall Street estimates for quarterly earnings as it lured diners with aggressive marketing and online orders spiked, sending its shares up 10 percent in after-hours trading on Wednesday.

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Apple won back its crown as the most valuable publicly listed U.S. company on Wednesday, ending the session with a market capitalization above recent leaders Microsoft and Amazon.com.

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Chipotle Mexican Grill Inc topped Wall Street estimates for quarterly profit as the fast-food chain lured diners with new promotions and online orders spiked, sending its shares up 5 percent in after-hours trading on Wednesday.

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The Australian dollar tumbled on Wednesday after the country’s central bank signaled a possible interest-rate cut in the latest indication that a global economic slowdown is tilting policymakers toward looser monetary policy, while a gauge of world equity markets edged off two-month highs.

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Chipotle Mexican Grill Inc reported quarterly same-store sales above Wall Street forecasts driven by higher customer transactions, sending its shares up 5 percent in after-hours trading on Wednesday.

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GoPro Inc reported its first profit in five quarters on Wednesday and topped Wall Street estimates for revenue, as it cut costs and saw strong demand for HERO 7 action cameras, the cheapest so far in its flagship line.

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Zynga Inc on Wednesday forecast quarterly bookings above analysts’ estimates after beating expectations for the fourth quarter, suggesting that the game developer was benefiting from its mobile push.

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U.S. stocks edged lower on Wednesday as videogame makers gave disappointing revenue forecasts and investors awaited developments on U.S.-China trade relations.

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