News: Companies
In this section, we cover the latest news from companies around the world. This includes everything from the latest quarterly results to new product announcements to mergers and acquisitions, analyst rating changes, price target revisions, regulatory agency filings, license acquisitions, and much more.
Netflix Layoffs Just The Start as Streamer Stages Rebound: ‘It’s Time to Be a Real Company,’ Says Media Exec
"In our quarterly report, we indicated that slowing revenue growth forces the company to slow its cost growth. As a result, approximately 150 employees will be laid off today, mostly in the United States," the company stated in an announcement.
Largest U.S. Pension Bought AMC, AMD, and Block Stock. It Sold Netflix
Calpers purchased 155,992 AMC shares in the first quarter, bringing its total to 775,392 shares. Calpers has purchased the shares for the third quarter in a row. It announced a 116,400-shareholding at the end of the third quarter of 2021, then more than doubled that investment in the fourth.
Robinhood Launches New No-Transaction Fee Crypto Wallet
There is already a web-based custody wallet on Robinhood's website for users' assets. As with most cryptocurrency companies, the assets are not covered by any government guarantee, such as that provided by the Federal Deposit Insurance Corporation.
Insider News: Samsung in Talks to Hike Chipmaking Prices by Up to 20%
At a recent earnings conference, Kang Moon-soo, vice president of Samsung's foundry division, stated that the company had already received orders for the next five years totaling eight times the previous year's sales. "We expect our order book to expand much further.
Mark Zuckerberg’s Metaverse May Take a Decade to Bloom. Wall Street Still Celebrated
The expansion into the metaverse is likely to take longer to make a profit than traditional software, and it may take a decade before the business is capable of truly raking in cash, said Mark Zuckerberg, CEO of Meta Platforms. Wall Street is still optimistic.
Elon Musk Will Make an Indelible Mark on Twitter, Experts Say
While Musk has not revealed any particular changes to the website, he has advocated for fewer restrictions on what users can and cannot publish and has speculated that the platform may transition from being financed by advertising to a subscription-based model.
Globant Plans Acquisitions to Boost Push Into Asia and Europe
Globant SA, Argentina's technology heavyweight, wants to expand further with mergers that provide it entry into new markets and access to innovations, as the CEO of the corporation stated after the acquisition of one of Uruguay's largest IT companies.
Netflix Stock Had Its Worst Day in Nearly 2 Decades. What Wall Street Is Saying
Netflix lost 200,000 customers in the third quarter, falling far short of its target of 2.5 million net additions. The streaming platform would have gained 500,000 customers if it had not lost 700,000 Russian subscribers. The business expects to lose 2 million net users in the June quarter.
Morning Brief: From Chip Makers to EV Production & What is New in Crypto and Stock Market so Far
On Monday, bitcoin fell to slightly around $39,000, reaching one-month lows, while ether fell below $3,000 as risky assets such as cryptocurrencies continued under pressure from global central banks' plans to tighten monetary policy.