Estée Lauder Companies on May 1 expanded its global workforce reduction, announcing up to 3,000 additional layoffs that raise the total targeted cuts to between 9,000 and 10,000 roles. The Clinique and M.A.C owner said more than 70% of the new reductions will come from department-store point-of-sale demonstration and staff roles as it shifts investment toward faster-growing digital and specialty retail channels. The company reported quarterly net sales of $3.71 billion and adjusted earnings per share of $0.88, beating Street estimates, and raised full-year adjusted EPS guidance to $2.35–$2.45. Management said the restructuring is expected to deliver up to $1.2 billion in gross annual benefits and that most actions will complete by fiscal 2027. Estée Lauder also flagged ongoing talks with Spain’s Puig and warned its outlook assumes no further geopolitical deterioration or Middle East disruptions beyond May 2026; it continues to face tariff headwinds. Shares jumped in premarket trading on the results and guidance lift.

A civil lawsuit filed on April 27, 2026 in New York County Supreme Court accuses JPMorgan Chase executive director Lorna Hajdini of drugging, sexually assaulting and racially abusing a junior colleague and using threats to derail his career. The plaintiff, initially identified in filings as “John Doe” and publicly named in media reports as Chirayu Rana, alleges incidents beginning after he joined the bank’s leveraged finance team in March 2024 and that an internal complaint was lodged in May 2025. The suit says Hajdini used substances including Rohypnol and a performance drug, coerced non‑consensual sexual acts, made racial slurs and accessed private account information; it also names JPMorgan for alleged retaliation, including placing the complainant on involuntary leave and contributing to threats received by him. JPMorgan says an internal review by HR and in‑house counsel found no evidence to substantiate the claims and says the complainant declined to participate fully in its probe. Hajdini has denied the allegations. Court papers were briefly withdrawn for corrections and no hearing date has been set; the plaintiff seeks damages for emotional distress, lost earnings and reputational harm.

Moderna reported stronger-than-expected first-quarter results on May 1, 2026, with revenue of $389 million—more than triple year-ago levels—driven largely by international COVID-19 vaccine sales (about 80% of Q1 revenue). The company posted a GAAP net loss of $1.3 billion, widened by an approximately $0.9 billion charge tied to a litigation settlement with Arbutus Biopharma and Genevant Sciences; Moderna plans a lump-sum payment in a later quarter and is appealing aspects of the case. Excluding the settlement, management said adjusted losses narrowed as R&D spending fell 24% to $649 million and SG&A declined 18% to $173 million. Moderna reiterated a 2026 revenue growth target of up to 10% and guided Q2 revenue to $50–$100 million. The firm highlighted two recent European approvals in its respiratory vaccine portfolio and an Aug. 5, 2026 U.S. FDA decision date for an mRNA flu shot. Executives also pointed to late-stage oncology programs, including a melanoma vaccine partnered with Merck, as potential longer-term value drivers. Shares initially rose on the results.

Federal Reserve Chair Jerome Powell said he will remain on the Fed’s seven‑member Board of Governors after his term as chair ends on May 15, 2026, announcing he will “keep a low profile” but stay until a probe into Fed renovations is fully resolved. Powell’s continuation as a governor — a move that blocks President Donald Trump from immediately filling a seat — comes as the Fed held its policy rate at 3.50%-3.75% after a fractious two‑day meeting that produced the largest dissent on the policy statement since 1992. The Senate Banking Committee on April 29‑30 advanced Trump nominee Kevin Warsh to the full Senate on a 13‑11 party‑line vote; a confirmation vote could come in mid‑May. Justice Department U.S. Attorney Jeanine Pirro has referred the renovation inquiry to the Fed’s inspector general, while reserving the right to reopen a criminal probe. Warsh has pledged “regime change” at the Fed, including looser communications and possible rate cuts, even as several policymakers flagged rising inflation and geopolitical oil risks.

Meta Platforms Inc. reported strong first-quarter results at the end of April 2026 — beating expectations with EPS above estimates and robust revenue — but markets punished the stock after management signalled a step-up in capital spending to fund an expanded AI data‑centre buildout. Shares plunged about 8–9% on April 30, trading near $610 amid heavy volume, after the company raised 2026 capex guidance and disclosed large insider sales. Investors also digested a new $25 billion investment‑grade bond offering launched April 30, where subscription and pricing showed weaker demand than a prior sale, and a spike in hedging costs. Analysts reacted unevenly: some banks trimmed price targets or downgraded, while others raised targets or maintained buy ratings. Fund moves included ARK Investment buying 47,200 shares on April 30. Proprietary screens cited a high quality GF Score (~98) and a GF Value implying the stock was ~20–21% below intrinsic estimates, underscoring a split between fundamentals and near‑term investor caution.

Arthur J. Gallagher & Co. reported a strong first quarter after completing its acquisition of rival AssuredPartners, with management citing both M&A and organic gains. The insurance broker said commissions rose sharply to $3.12 billion and fees climbed 27.7% year-on-year, while organic revenue grew about 5%. Adjusted earnings per share came in at $4.47 and consolidated revenue was roughly $4.76 billion, driving a reported net earnings attributable to controlling interests of $912 million for the quarter ended March 31. Gallagher completed the AssuredPartners purchase in August 2025 and closed a string of tuck-in deals that contributed materially to the 28% combined brokerage and risk-management revenue growth. Management reaffirmed mid-single-digit organic growth guidance, highlighted $160 million-plus of targeted synergies from AssuredPartners integration, continued share repurchases and declared a $0.70 quarterly dividend. Executives also pointed to increased use of AI, automation and digitisation to boost productivity. The company warned that moderating property pricing remains a headwind even as casualty, specialty and selective reinsurance repricing support new-business momentum.