News: Companies
In this section, we delve into the dynamic corporate world, bringing you the most recent updates from global companies. Our coverage spans a broad spectrum, encapsulating latest quarterly results, unveiling of new products, corporate amalgamations, and acquisitions. We also keep you informed on changes in analyst ratings, adjustments in price targets, submissions to regulatory bodies, and acquisition of new licenses, amidst a host of other significant business events.
Intel Could Be Worth More Dead Than Alive. Why This Analyst Sees 50% Upside
"This quarter's performance fell below the expectations we had for the firm and our shareholders," stated Intel CEO Pat Gelsinger. "We must and will do better." The most significant reason was the unexpected and fast downturn in economic activity, but the shortfall also reflects our own execution difficulties."
China’s Video Game Market Is Shrinking as Regulators Crack Down
A combination of variables has resulted in the Chinese video gaming industry's first revenue and user falls in 14 years. According to analysts, the losses may prompt major firms such as Tencent Holdings and NetEase to expand further into international markets.
Coinbase Needs Congress to Save It From a Crackdown. Don’t Count on It
Congress is the only body that can prevent a crackdown by American law enforcement authorities on Coinbase Global Inc. (COIN) and other cryptocurrency companies. Still, it's becoming less likely that such relief will be provided anytime soon.
Meta’s Earnings Are Wednesday. Wall Street Is Cutting Its Revenue Forecasts
The social media titan is still battling a less aggressive advertising market, competition from TikTok, and the continuing impacts of Apple's (AAPL) more aggressive approach to safeguarding iPhone users' privacy. In an effort to make its Facebook experience more like TikTok, Meta recently scaled back its employment goals and released a new version of its main Facebook experience.
Ford Plans Up to 8,000 Job Cuts to Help Fund EV Investment
People who asked not to be named, revealing internal discussions, described the layoffs will be made in Ford Blue, the newly formed unit responsible for producing internal combustion engine vehicles, as well as other salaried positions across the corporation. Details of the plan have not yet been finalized, so they could change at any time.
Ex-Coinbase Employee and Two Others Charged in Insider Trading Case
As part of what federal prosecutors in Manhattan are calling the first-ever insider trading prosecution involving the digital currency market, a former employee of Coinbase Global and two other people have been charged with wire fraud.
Twitter Stock’s Fall Isn’t Over, Analysts Warn. How Much More It Could Tumble
Despite falling 11.3 percent after the news broke on Monday, Twitter stock still appeared to be valued to account for the potential that a deal may yet be reached at a lower price. Analysts predict that Twitter stock might fall another 30% from here if there is no sale.
Amazon’s Deal With Grubhub Makes Life Tougher for Uber and DoorDash
A year ago, Just Eat Takeaway, based in Amsterdam, paid $7.3 billion to purchase the faltering American food delivery firm. That poorly timed arrangement, which was announced just as the meal delivery boom of the Covid period started to slow down, was a failure.
Dethrone Tesla? One Car Maker With a Shot
Many manufacturers have ambitious plans to overtake Tesla ( TSLA ). They need to have electric automobiles available to the market for that to happen. Based on forthcoming models, General Motors (GM) is one automaker that appears to have a chance of competing with Elon Musk's company.
Insider News: Shell Set to Sign Deal With Qatar for Giant Gas Project
According to reports, Shell Plc is planning to take a stake in a major $29 billion project that aims to raise Qatar's output and exports of liquefied natural gas (LNG). This comes as other Western energy giants have already invested in the project and as Europe is increasingly racing to shore up supplies of the fuel.
Expert Opinion: Apple May Have 40 Million Subscribers for Streaming TV Service, Analyst Says
Sacconaghi claimed that Apple (AAPL) had between 20 million and 40 million paying users, with yearly revenue ranging between $1 billion and $2 billion. That's not much for a firm with about $400 billion in annual revenue, but he believes the service is vital for strategic reasons.