Reddit's (NYSE:RDDT) stock tumbled 13% in after-hours trading, wiping nearly $6 billion from its valuation following a mixed fourth-quarter earnings report that fell short of investor expectations. Revenue surged 70% year-over-year to $427.7 million, beating analyst forecasts of $405.5 million.

Two analysts published positive notes as the shares finally arrested a painful slide.

Apple has officially partnered with Alibaba to power AI features on iPhones sold in China, marking a significant shift in the company's artificial intelligence strategy in one of its most critical markets.

Santander and Barclays have launched mortgage deals below 4%, the first since November, as competition between lenders increases. The move comes as expectations grow for further Bank of England base rate cuts after the Monetary Policy Committee opted for a quarter point drop earlier this month to 4.5%.

British American Tobacco PLC (LSE:BATS) shares tumbled 8% despite seeming to be slightly better than expectations in terms of revenue and earnings. Revenue for the year was down 5.2% to £25.9 billion, driven by the sale of businesses in Russia and Belarus the year before and currency headwinds, while organic revenue was up 1.3%.

Alibaba Group's (NYSE:BABA) Hong Kong-listed shares were up 2.5% after chairman Joe Tsai confirmed the e-commerce giant will partner with Apple on artificial intelligence for iPhones sold in China. Speaking at the World Governments Summit in Dubai, Tsai said Apple chose Alibaba's AI technology after evaluating multiple Chinese firms.

Refresh for latest

Municipal CEFs like Nuveen California Select Tax-Free Income Portfolio offer tax-free returns, low leverage, and are currently trading at a discount. NXC invests in high-quality municipal securities, with an average coupon of 3.68% and a distribution rate on NAV of 3.97%. The fund's market price is $13.17, NAV is $13.69, and it's trading at a 3.80% discount, presenting a potential profit opportunity.

Barclays has extended the chairmanship of Nigel Higgins for another three years as the bank looks to push ahead with a turnaround plan unveiled last year, the lender said in its annual report on Thursday.

PARIS, Feb. 13, 2025 (GLOBE NEWSWIRE) -- PulseSight Therapeutics SAS, an ophthalmology biotech company developing disruptive non-viral vectorized therapies with minimally-invasive delivery technology, today announces the first close of its Series A financing with existing investor Pureos BioVentures committing new funds to support the Phase I study of PST-611 and enable preparation for a Phase IIa clinical trial.

Press Release Ooredoo Qatar taps Nokia 5G Standalone Core to deliver advanced network services and generate new revenue streams Nokia will deliver a modernized core network that enables Ooredoo Qatar to offer more advanced services using network slicing. Network will generate new consumer and enterprise revenue streams across industries such as ports, mining and natural gas.

Unilever PLC has also announced a new share buyback of up to €1.5 billion, and said it will spin out its ice cream business with joint listings in Amsterdam, London and New York. The final results "reflect a year of significant activity as we focused on transforming Unilever into a consistently higher performing business", says CEO Hein Schumacher.

Unilever posted a 4% rise in fourth-quarter underlying sales, slightly missing a 4.1% forecast. Over the full-year, underlying sales grew 4.2% versus estimates of 4.3%.

Expectations for the Fed's next cut shift back to July.

Alibaba Group chairman Joe Tsai confirmed his companies AI partnership with Apple, while speaking at the World Governments Summit in Dubai on Thursday. The partnership was first reported by the Information on Tuesday, triggering a jump in Alibaba and Apple shares.

Barclays PLC stepped up its target for returns in 2025 and plans to distribute at least £10 billion of capital to shareholders by the end of next year, including a £1 billion buyback announced today. This followed a better than expected performance in the fourth quarter, where the statutory return on tangible equity (RoTE) was 7.5% as profit before tax came in at £1.7 billion compared to £0.1 billion a year earlier.

Gold approaches $2,942 as falling Treasury yields and tariff concerns fuel safe-haven demand. PPI data next in focus.

Gold approaches $2,920 as falling Treasury yields and tariff concerns fuel safe-haven demand. PPI data next in focus.

Zebra Technologies Corporation ZBRA will release its fourth-quarter financial results, before the opening bell, on Thursday, Feb. 13, 2025.

This confirms earlier reports by Reuters that said Nissan "looks set to step back from" merger talks with rival Honda. Shares of Honda gained 2.14% on Thursday, while Nissan stock slipped 0.34%.