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.
Rivian and Li Auto Stocks Were Purchased by the Largest Pension in the US. However, Sirius and Zoom were sold
The biggest pension fund in America has increased its interest in producers of electric vehicles but reduced positions in videoconferencing and broadcasting. Let’s see what is going on.
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7 Companies at Risk of Liquidity Squeeze: What You Should Know
Royal Caribbean Group (RCL) is an example. At the end of June, the cruise line had $5.5 billion in short-term debt but $2.1 billion in cash. Royal Caribbean recently issued $1.15 billion in convertible notes to cover some of its current debt, stretching the maturity date from 2023 to 2025. However, it has a higher interest rate - 6% vs. 4.25% and 2.875% for retired debt.
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Morning Brief: From Inflation, Investment in Crypto to Taiwan Semiconductor Manufacturing
This week's inflation figures could either boost or derail the market's summer momentum. Investors will get the most recent indication of how swiftly prices are growing across the US economy from three upcoming releases: PPI, CPI, and unit employment costs.
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Coinbase and the SEC Are Facing Off. What’s at Stake
The industry has been grappling with the question of whether tokens should be classed as currencies, commodities, or securities. Some tokens, according to the SEC, most likely fit the definition of security. According to the SEC, Ripple – a payments network coin — is security, though Ripple Labs and the regulator are involved in a court dispute over this distinction.
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Twitter Wants to Force Musk to Buy It. But There’s a Hitch
When Elon Musk chose to back out of his $44 billion offer to buy Twitter, the social media giant filed a lawsuit in the Delaware Court of Chancery. Twitter has filed a lawsuit seeking "particular performance," an unusual remedy that would oblige Musk to finish the deal.
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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."
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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.
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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.
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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.
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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.
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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.
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Netflix Sees Return to Subscriber Growth
After-hours trading on Tuesday saw a surge in Netflix shares after the business reported better-than-anticipated subscription trends for the second quarter and announced plans to introduce an ad-supported subscription tier in the first quarter of 2023.
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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.
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