By Francesca Fontana

The Score is a weekly review of the biggest stock moves and the news that drove them.

Bumble

Bumble is trying to get its buzz back after years of sluggish growth.

The online-dating company said it would lay off about 30% of its employees, or roughly 240 workers. Per a regulatory filing, Bumble expects the cuts to generate up to $40 million in annual savings.

Chief Executive Whitney Wolfe Herd -- who returned to the company in March -- told employees in a letter Wednesday that she hopes the cuts make the company "more agile."

In May, rival Match Group said it would cut 13% of its workers, or about 325 people, as it reduced management layers.

Bumble shares jumped 25% Wednesday.

Tesla

The debut of Tesla's robotaxis drove the EV maker's shares higher Monday.

The day before, the electric-vehicle company led by Elon Musk launched its long-awaited robotaxi service in Austin, Texas, offering driverless rides to passengers that Musk said will cost a flat fee of $4.20.

Tesla's new service employs its Model Y electric sport-utility vehicles piloted by an advanced version of its Full Self-Driving software. There will be no one behind the wheel, but the company said in an invitation shared on social media that a safety monitor would sit in the passenger seat.

In entering the growing autonomous ride-hailing arena, Tesla will now face off with Alphabet's Waymo and other companies testing the service.

Tesla shares rose 8.2% Monday.

Occidental Petroleum

A shaky cease-fire between Israel and Iran eased fears of a serious disruption to global oil supplies, sending energy shares lower.

Oil prices fell on Monday after the U.S. bombed Iranian nuclear facilities over the weekend, and the slide continued Tuesday as traders digested President Trump's announcement of Israel and Iran's cease-fire deal -- and the continued fire between the two countries shortly after the deal had gone into effect.

After a call between Trump and Israeli Prime Minister Benjamin Netanyahu, Israel said it would refrain from further attacks on Iran.

Occidental shares lost 3.7% on Monday, declining another 3.3% the next day.

Carnival

Carnival investors celebrated the cruise operator's latest earnings.

The company on Tuesday raised its annual outlook for the year and reported higher-than-expected quarterly profit and revenue, boosted by robust demand and on-board spending.

For its fiscal second quarter, Carnival posted net income of $565 million compared with $92 million a year earlier.

Chief Executive Officer Josh Weinstein said that the company had a high number of last-minute bookings. Weinstein also highlighted the planned launch of Carnival's new loyalty program, Carnival Rewards, that the company unveiled the week before. The program is slated to start in June 2026.

Carnival shares gained 6.9% Tuesday.

FedEx

FedEx delivered some bad news to investors in its quarterly report.

The delivery company late Tuesday posted better-than-expected earnings, but warned that it expects a $170 million financial hit this quarter as tariff changes crush demand for packages shipped to the U.S. from China.

In early May, the U.S. ended a provision that spared packages costing $800 or less from duties for goods made in mainland China and Hong Kong. FedEx cut capacity to transport goods from Asia to the U.S. 35% in the first week of May in response to a decline in demand.

FedEx said it is starting to see more demand on other trade routes, including from Asia to Europe and from Southeast Asia to the U.S.

FedEx shares fell 3.3% Wednesday.

Shell

Could Shell buy BP? The Wall Street Journal reported Wednesday that Shell is holding early-stage talks to acquire its rival, BP, in what would be the largest oil deal in a generation.

Shell denied that talks are taking place, calling it "further market speculation."

The statement from Shell came after the Journal reported that the discussions are moving slowly, and that a tie-up is far from certain.

In light of its statement, Shell said it was now bound by U.K. takeover rules which could prevent Shell from making a formal approach to BP for at least six months. A BP spokesman declined to comment on the Journal's report.

American depositary shares of Shell fell 1% Wednesday, rising 2.2% Thursday.

Our weekly markets news roundup is now part of the WSJ's What's News podcast. Host Francesca Fontana discusses the biggest stock moves of the week and the news that drove them. Check out What's News in Markets at wsj.com/podcasts or wherever you listen.

Write to Francesca Fontana at francesca.fontana@wsj.com.

(END) Dow Jones Newswires

June 27, 2025 17:16 ET (21:16 GMT)

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