Meta jumps 11% on cloud business plan; Shutterstock sinks nearly 30% as Getty ends merger talks

According to CNBC, Meta Platforms shares surged 11% after news that the company is building out a new cloud business to sell excess artificial intelligence computing power to outside customers. General Mills rose more than 6% after posting fourth-quarter adjusted earnings of 95 cents a share on revenue of $4.61 billion and announcing plans for $3 billion in cumulative cost savings through fiscal year 2030. Progress Software jumped more than 18% after reporting second-quarter adjusted earnings of $1.62 per share on revenue of $253.5 million and issuing third-quarter guidance above estimates, while Datadog gained more than 2% after acquiring Adaptive ML. Nike climbed more than 4% after fiscal fourth-quarter results beat expectations despite a 12% year-over-year drop in China sales. Shutterstock fell nearly 30% and Getty Images slid 6% after Getty called off a proposed merger with Shutterstock due to demands from a U.K. regulator. Alcoa dropped 9% after agreeing to buy some of South32’s assets in a $4.1 billion deal for its bauxite, alumina and aluminum portfolio. ServiceNow rose more than 6% and Salesforce gained 5% after Guggenheim upgraded both to buy. Bloom Energy added more than 2% after expanding a partnership with Brookfield to finance power for artificial intelligence infrastructure projects. Sandisk fell 9% and Micron Technology dropped about 8% on the first day of third-quarter trading after both more than tripled in the second quarter.