Consumer giant Kimberly-Clark, which makes Huggies diapers and Kleenex tissues, is buying the company that makes Tylenol and Band-Aids in one of the biggest mergers of the year. The deal, worth almost $49 billion, comes at a particularly difficult time for Tylenol-maker Kenvue, after the Trump administration linked acetaminophen the active ingredient in this common painkiller to autism. The assertions came despite a lack of clear scientific evidence, and Kenvue has called them simply false.
Alphabet The search giant jumped more than 7% after strong results that were boosted by revenue from Google Cloud and YouTube advertising. Alphabet earned $3.10 per share, on an adjusted basis, more than the $2.33 per share expected by analysts polled by LSEG. Revenue of $102.35 billion exceeded the $99.89 billion consensus estimate. Meta Platforms The Instagram parent slumped more than 8% after raising its capital expenditures outlook to invest more in artificial intelligence.
A slow week with little important economic news (other than yesterday's Bureau of Labor Statistics report on falling first-time unemployment filings) got busy in a hurry on Friday, with the U.S. Commerce Department revealing the personal consumption expenditures price index (PCE) increased 0.3% in August. The new data clocks the annual U.S. inflation rate at 2.7%. Volatile food and energy prices, once excluded to give a "core" inflation rate, rose 0.2% to 2.9%.
Neural networks are some of the most promising artificial intelligence (AI) models. These systems process data similarly to the human brain, passing information through a complex network of nodes in the same way information goes through layers of neurons. That makes them capable of solving complicated problems in minimal time, which is particularly advantageous in the medical industry. Drug discovery is a vital but challenging process.
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