FINWIRES · TerminalLIVE
FINWIRES

PayPal Reaches $30 Million Settlement With DOJ Over DEI Investment Program

By

The Department of Justice said Tuesday it secured a settlement with PayPal (PYPL) under which the company must launch a new Small Business Initiative that excludes criteria based on national origin, race or other protected characteristics.

Under the initiative, PayPal must waive processing fees totaling roughly $30 million for eligible small businesses that are veteran-owned or engaged in manufacturing, farming or technology, the DOJ said.

The settlement stems from an investigation "into a discriminatory investment program created for black and minority-owned businesses," the DOJ said.

PayPal didn't immediately reply to a request for comment from.

Price: $45.53, Change: $+0.45, Percent Change: +1.01%

Related Articles

Australia

Top Midday Decliners

Power Solutions International (PSIX) reported late Monday lower-than-expected adjusted EPS and revenue in Q1.Shares sank 40% following a surge in intraday trading volume to over 4.0 million from a daily average of about 675,000.ZoomInfo Technologies (GTM) shares fell about 33% following its Q1 results in the previous day that led some analysts, including from Stifel and Piper Sandler, to downgrade the stock.The firm faces execution risk in delivering a material re-acceleration in top-line growth amid job cuts, and a downward revision to its full-year 2026 sales guidance is discouraging, RBC Capital Markets said in a note.Trading volume jumped to more than 24.6 million shares intra-day from a daily average of about 10.1 million.Piper Sandler downgraded LENZ Therapeutics (LENZ) to neutral from overweight and cut its price target to $12 from $39, following the company's Q1 results late Monday that showed net loss more than doubled from a year ago.Shares dropped about 24%, with intraday trading volume of over 1.6 million, versus a daily average of about 910,000.Price: $37.47, Change: $-24.98, Percent Change: -40.00%

$GTM$LENZ$PSIX
Australia

Alphabet's Google Launches Googlebook AI-Powered Laptops

Alphabet's (GOOG, GOOGL) Google said Tuesday it is introducing Googlebook, a new category of laptops built around its artificial intelligence models and Gemini Intelligence.The company said Googlebook is designed to integrate Android and ChromeOS, marking a shift toward what it describes as an "intelligence system" rather than a traditional operating system.Being part of the Android ecosystem, users will be able to access and use files from their phones directly on Googlebook laptops without requiring file transfers, the company said.Google said it is working with partners including Acer, Asus, Dell (DELL), HP (HPQ) and Lenovo to launch the first Googlebook laptops.Price: $381.74, Change: $-5.03, Percent Change: -1.30%

$DELL$GOOG$GOOGL$HPQ
Australia

Market Chatter: ServiceNow US Bond Sale Draws $38 Billion of Investor Orders

ServiceNow's (NOW) US bond sale has drawn over $38 billion of investor orders for the offering, allaying concerns about AI disruption, Bloomberg reported Tuesday, citing people with direct knowledge of the matter.Prices on a bond due 2056 has tightened by 0.4 percentage point from earlier talk to 1.35 percentage point above Treasuries, a source told Bloomberg.The bonds will be offered in five tranches, and proceeds will be used to repay debt related to the company's takeover of Armis, according to the report.ServiceNow did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $89.17, Change: $-2.32, Percent Change: -2.54%

$NOW