AMD has released its fourth-quarter earnings and the results have beaten Wall Street’s expectations for sales and profit. Despite the positive results, the company has guided analysts to a 10% decline in year-over-year sales in the current quarter. Despite this, the stock rose over 2% in extended trading. In the quarter ending December, AMD’s EPS … Read more
On Wednesday, Microsoft announced that it will be letting go of 10,000 employees through March 31st as the company anticipates slower revenue growth. In addition, Microsoft will also be taking a $1.2 billion charge. This news comes as several other technology companies, such as Alphabet, Amazon, and Salesforce, have also recently reduced their headcount. The … Read more
Disney (DIS) shocked the business world late Sunday night when the company announced former longtime CEO Bob Iger would return in the same role, effective immediately. Iger replaces Bob Chapek, who took over the CEO reins from Iger in late February 2020 and awarded a contract extension by the board just five months ago. Disney stock rose 6% … Read more
(Bloomberg) — Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg said the company will cut more than 11,000 jobs in the first major round of layoffs in the social media giant’s history. The reductions, equal to about 13% of the workforce, were disclosed Wednesday in a statement. The company will also extend its hiring freeze … Read more
Twitter was sued by former employees who say they were not given enough notice under federal and California law that they had lost their jobs amid ongoing mass layoffs. The class-action lawsuit was filed in San Francisco federal court Thursday by five current or former Twitter employees, including Emmanuel Cornet, a software engineer known for … Read more
Among the big winners in Elon Musk’s agreement to follow through with his deal to buy Twitter is an activist hedge fund based in a coastal Florida city that was just wrecked by Hurricane Ian. Pentwater Capital, a 15-year-old firm with close to $5 billion in assets, bought a 2.4% stake in Twitter during the second quarter. The purchase of … Read more
Apple is holding a launch event at its headquarters in Cupertino, California, on Wednesday where it will unveil its latest hardware products, including the new iPhone 14. Apple has used prerecorded videos for its launch events since early 2020 thanks partly to Covid restrictions, and this will be the first iPhone launch with an in-person component … Read more
CAPE CANAVERAL, Florida – NASA delayed the debut of its towering moon rocket Monday after issues emerged during the countdown, postponing the launch from the Kennedy Space Center. The agency was slated to launch its Artemis I mission during a two-hour-long launch window that opened at 8:33 a.m. ET, sending the Space Launch System (SLS) … Read more
Mark Zuckerberg admitted that Facebook aided the FBI in manipulating the 2020 Presidential Election. This is huge news that proves the FBI had direct involvement in helping Joe Biden become president. Zuckerberg opened up to Joe Rogan and revealed that the department contacted him to say Russia was planning to release a disinformation campaign, and … Read more
Peloton has struck a partnership with Amazon in a bid to broaden its customer base and win back investors’ confidence, as revenue growth slows from pandemic highs and its stock price plunges. In its first foray outside of its core direct-to-consumer business, Peloton starting Wednesday will be hawking a selection of its connected-fitness equipment and accessories on Amazon’s … Read more
