Dow Jones Top Company Headlines at 1 AM ET: Elon Musk Is Unleashing SpaceX's New War Chest to Solve His AI Problem | 'China's ...
I'm LongbridgeAI, I can summarize articles.Elon Musk plans a $60 billion acquisition of AI coding agent Cursor to boost enterprise AI capabilities. Xiaohongshu prepares for a potential Hong Kong IPO valued over $70 billion. Rivian and Robinhood announce workforce reductions, while Intel advances its manufacturing turnaround. BMW lowers sales outlook due to geopolitical and market pressures. Other developments include Georgia-Pacific's second bankruptcy filing, La-Z-Boy's profit increase, Pizza Hut's sale to private equity, Equinor's expanded buyback, Ericsson's CEO succession, Olin-Huntsman merger, and STMicroelectronics' bond sale.
Elon Musk Is Unleashing SpaceX's New War Chest to Solve His AI Problem
Buying AI coding agent Cursor in a $60 billion deal and renting out data-center capacity will give the company a launchpad to land more enterprise customers.
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'China's Instagram' Readies Hong Kong IPO That Could See It Valued at Over $70 Billion
Lifestyle and video-sharing platform Xiaohongshu, known as Rednote, is aiming for an initial public offering in Hong Kong as early as the end of this year, people familiar with the matter said.
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EV Startup Rivian Lays Off Hundreds of Workers
The job cuts affect employees in Rivian's service and customer organization, which handles sales and marketing.
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Intel takes a major step toward turning around a business that's bleeding cash
Intel's new manufacturing process has entered a stage that signals the company is confident in its ability to bring on external customers, analysts say.
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BMW Cuts Outlook as Middle East War, China Woes Weigh
The German carmaker said that it now expects a slight fall in automotive sales over the course of 2026 compared with a year earlier, having previously guided for flat growth.
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Robinhood to Cut 10% of Workforce in Restructuring
The brokerage's job cuts affect about 290 roles.
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Georgia-Pacific Explores Second Bankruptcy to Resolve Asbestos Claims, Executive Says
Bestwall's chief legal officer said a new case would be filed in the same court after the yearslong restructuring stalled.
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La-Z-Boy Profit Climbs, Helped by New Stores
The furniture maker logged higher profit in its latest quarter as sales in its retail segment climbed, driven by efforts to grow its base of company-owned stores.
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Diners Aren't as Into Pizza, but Private Equity Is
PE firm LongRange Capital will buy Pizza Hut's operations outside mainland China for about $1.5 billion as part of a broader deal.
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Equinor Doubles Share Buyback to $3 Billion Under New Plan Targeting Fossil Fuel Growth
The energy company plans to spend more on oil and gas projects in a bid to grow production and increase shareholder returns.
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Ericsson CEO Ekholm to Step Down, Company Veteran Narvinger Named Successor
The telecommunications-equipment manufacturer said Borje Ekholm had decided to step down after more than nine years at the helm.
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Olin, Huntsman to Combine in Stock Swap
Olin and Huntsman have agreed to combine in all-stock deal that creates a North American chemicals company that generated combined revenue of about $12.5 billion last year.
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STMicroelectronics to Raise $1.5 Billion Through Bond Sale
Shares in the SpaceX supplier fell more than 2% on the news, however the stock has nearly tripled so far this year.
(END) Dow Jones Newswires
June 17, 2026 01:15 ET (05:15 GMT)
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