News Highlights: Top Company News of the Day - Thursday at 9 PM ET

Spirit Airlines Explores Bankruptcy Filing 
 

The budget carrier has been discussing a possible restructuring agreement to be implemented in chapter 11.

 
Constellation Books $2.25 Billion Impairment from Wine and Spirits 
 

Alcohol heavyweight Constellation Brands booked a $2.25 billion goodwill impairment tied to its wine and spirits business, swinging it to a loss for the summer quarter.

 
Eli Lilly's Weight-Loss, Diabetes Drug Shortages Are Over, FDA Says 
 

The removal of Zepbound and Mounjaro from the regulator's shortage list could lead to restrictions on pharmacies making custom-made versions.

 
Stellantis Stock's Selloff Deepens. Why Wall Street Is So Worried About the Jeep Maker. 
 

After a record 2023, the Chrysler and Jeep parent has become a mess.

 
Microsoft to Invest $4.8 Billion on AI, Cloud Infrastructure in Italy 
 

Microsoft plans to spend about $4.75 billion over the next two years in cloud and artificial intelligence infrastructure in Italy, as global tech companies continue to boost their footprints overseas amid a boom in demand for AI computing.

 
AI to Have Human-Level Abilities in a Few Years, SoftBank CEO Says 
 

Masayoshi Son reiterated his bullish forecasts for artificial intelligence in a speech that stressed advances made by OpenAI.

 
Tesco Lifts Guidance on Higher Sales Volumes 
 

The company said volume growth beat its expectations, paving the way for an increase to its profit outlook.

 
LGT Capital Collects $7 Billion for Private-Markets Secondary Deals 
 

Investment manager LGT Capital Partners has raised its largest pool yet to acquire stakes in private funds, a strategy benefiting from the chill that sharply higher interest rates cast on deals involving private equity and venture capital.

 
Levi Cuts Revenue Outlook, Mulls Sale of Dockers Brand 
 

Levi Strauss cut its revenue outlook for the year and is once again exploring the potential sale of Dockers, the latest move by CEO Michelle Gass to focus the company on its namesake brand.

 
OpenAI Nearly Doubles Valuation to $157 Billion in Funding Round 
 

The startup behind ChatGPT raised $6.6 billion from backers including Microsoft, SoftBank and Thrive Capital.

(END) Dow Jones Newswires

October 03, 2024 21:15 ET (01:15 GMT)

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