Town Hall News

(This story has been corrected to say that quarterly revenue fell 1.2%, not 2.9%, in paragraph 7) (Reuters) – Altria Group Inc missed sales expectations for the first quarter on Thursday, as price-sensitive consumers switched to cheaper brands of cigarettes and smokeless tobacco products. Hit by inflation, consumers have been trading down to affordable alternatives to the pricey traditional tobacco products that Altria sells, like the Marlboro brand family, which […]

By Kanishka Singh WASHINGTON (Reuters) -Cable television network CNN has fired longtime host Don Lemon, the news anchor said in a post on Twitter on Monday, adding he was “stunned” by the step and that he was not directly informed of the termination by the network. “I was informed this morning by my agent that I have been terminated by CNN. I am stunned,” Lemon said. “After 17 years at […]

(Reuters) – The Kremlin said on Thursday it welcomed anything that could bring the end of the Ukraine conflict closer when asked what it thought of a phone call a day earlier between Chinese President Xi Jinping and Ukrainian President Volodymyr Zelenskiy. But it said it still needed to achieve the aims of its “special military operation” in Ukraine. DIPLOMACY * Ukrainian Prime Minister Denys Shmyhal said he had invited […]

(Reuters) – AbbVie Inc on Thursday missed quarterly revenue estimates for its newer treatments, fueling concerns over the drugmaker’s attempts to cushion the blow to sales from blockbuster Humira losing patent exclusivity. The company’s shares tumbled 6% in premarket trade as investors shrugged off a raised annual profit forecast. In the first quarter, Humira recorded sales of $3.54 billion, compared with analysts’ average estimate of $3.58 billion. Humira, once the […]

BENGALURU (Reuters) – India’s Glenmark Life Sciences Ltd said on Thursday its fourth-quarter profit surged 48%, helped by growth in its mainstay business of making active pharmaceutical ingredients (API) for drugs. The Mumbai-based drug maker’s profit rose to 1.46 billion rupees ($17.86 million) in the three months ended March 31, from 989 million rupees in the year-ago quarter, the company said in a regulatory filing. The company, spun off from […]

By Aditya Soni (Reuters) – Meta Platforms Inc is a Wall Street darling again. The company’s shares continued their winning streak on Thursday, surging 12% after Meta’s focus on AI and cost-cutting cheered investors whose enthusiasm has already helped the social media behemoth nearly double in value this year. Meta is set to add around $60 billion to its market valuation, if premarket gains hold. The rally also lifted other […]

NEW YORK (Reuters) – The dollar rose on Thursday as data showed that weaker-than-expected U.S. economic growth in the first quarter is not likely to deter the Federal Reserve from raising interest rates next week. The greenback turned positive against the yen after the data, and was last up 0.2% at 133.985 yen. The dollar index rose 0.3% to 101.67. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Toby Chopra) Brought to […]

(Reuters) -The head of Russia’s Wagner mercenary group said on Thursday he had been joking when he said his men would suspend artillery fire in Bakhmut to allow Ukrainian forces on the other side of the frontline to show the city to visiting U.S. journalists. Wagner has been spearheading Russia’s assault on Bakhmut since last summer in the longest and bloodiest battle of the war, but Ukrainian forces have so […]

By Aditya Soni (Reuters) -Meta Platforms Inc is a Wall Street darling again. The company’s shares continued their winning streak on Thursday, surging 12% after Meta’s focus on AI and cost-cutting cheered investors whose enthusiasm has already helped the social media behemoth nearly double in value this year. Meta is set to add around $60 billion to its market valuation, if premarket gains hold. The rally also lifted other tech […]