Slowing growth and surging inflation may not spark a 70s-style bout of global stagflation, but dimming prospects for the U.S. economy weighed on stocks Wednesday.

"We are actively engaging in a broad range of strategic and financial alternatives ... including Elliott’s offer to invest incremental equity capital in our Flash Business," said CEO David Goeckeler.

Stock futures lower as stagflation worries mount; Novavax surges as FDA panel recommends Covid vaccine; Western Digital leaps after board agrees to consider flash memory sale; Credit Suisse slumps after third straight profit warning and Denver Broncos sold to Walmart heir for record $4.65 billion

"We believe a full separation of the Flash business can allow both HDD and Flash to be more successful and unlock significant value," said Elliott Associates.

"High energy prices are largely a result of underinvestment by many in the energy industry over the last several years and especially during the pandemic," Exxon said.

The legacy automaker has just made a decision that will affect consumers buying its electric vehicles via a lease.

A popular entertainer is ready to reschedule a series of performances that were cancelled at the Colosseum at Caesars Palace on the Las Vegas Strip.