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FINANCIAL NEWS
Zoom shares surge 8% on AI comments and upbeat earnings guidance

On Monday, shares of Zoom Video Communications jumped 8% in extended trading after the company said it would integrate more artificial intelligence into its products and offered optimistic earnings guidance ahead of Wall Street expectations.

Stellantis unveils a buyback and dividend distribution following strong results

In a year of a steep rise in electric-vehicle sales, Stellantis NV unveiled a buyback of as much as $1.6 billion and its plans to distribute $4.47 billion in dividends to shareholders following solid results.

Meta rolls out paid verification service for Facebook and Instagram

On Sunday, Meta announced it is rolling out a new paid verification service called Meta Verified, offering a handful of additional perks and features, including account verification badges for those who pay.

Roblox shares surge the most in nine months on solid earnings

Shares of video game platform Roblox climbed a staggering 26% on Wednesday, the most in nine months after the company reported bookings that topped estimates, fueled by a boom in playtime over the holiday season and a climb in active users.

Shopify's sales outlook comes in short of expectations, shares drop

After giving a sales outlook for the beginning of the year that fell short of analysts' expectations, Shopify Inc. shares headed about 11% lower in after-hours Wednesday.

STOCK ANALYSIS: Did Intuit Inc's stock price tank too much in 2022?

Intuit Inc (INTU)'s share price had to slump by a whopping 39.22% over the past year, partly due to the generally declining tenor within the technology sector. But what is going on under the surface of this stock?

Amazon's robotaxi unit, Zoox succesfully test self-driving on public roads

On Monday, Amazon saw its shares climb after the company reported the successful test of its autonomous vehicle unit Zoox, now driving on public roads in California with passengers on board.

Apple sales plunge amid production woes, but worst is over

Citing manufacturing disruptions in China and a softening economy that hurt iPhone sales, Apple reported its worst December quarter performance in four years on Thursday.

Alphabet's Google invests $300 million in AI startup Anthropic

Alphabet's Google Cloud reportedly invested $300 million in Anthropic, an artificial intelligence startup testing a rival to OpenAI's ChatGPT.

Meta shares soar as Zuckerberg strikes new tone with investors

On Wednesday, shares of Meta Platforms Inc. soared 20% amid fourth-quarter revenue that beat Wall Street estimates, while Chief Executive Officer Mark Zuckerberg called 2023 the "Year of Efficiency."

Ford to slash prices on EV Mustang Mach-E models amid Tesla cuts

On Monday, Ford Motor Co. said it is cutting prices of its electric Mustang Mach-E crossover up to $5,900 on some versions in response to Tesla slashing prices on several of its models a few weeks earlier.

Lobbyist Jim Chen leaves Rivian, joining slew of talent to exit EV start-up

Chief lobbyist Jim Chen is leaving Rivian Automotive Inc, the electric-vehicle start-up said Monday, in the latest high-level exit as it works to scale up operations.

Spotify shares climb as it joins tech companies announcing layoffs

Shares of Spotify climbed on Monday following reports the music-streaming service was planning job cuts as soon as this week, joining a slew of companies in announcing layoffs to lower costs.

Activist investor Elliott takes stake in Salesforce, sources say

According to people familiar with the matter, Elliott Management Corp., one of the most prolific and prominent activist investors, has made a multibillion-dollar investment in Salesforce Inc.

Shares of TSMC surge despite warnings of possible revenue drop

Citing weak demand, Taiwanese Semiconductor Manufacturing Co. said Thursday that it expects revenue in the current quarter to drop as much as 5% and could cut this year's capital expenditures compared with the previous year.

Google parent Alphabet starts cutting jobs at life sciences unit, Verily

Google parent Alphabet Inc.'s life sciences unit, Verily, is cutting 15% of jobs in a restructuring move as it strives for financial independence, according to an email to employees on Wednesday.

Coinbase announces another round of layoffs to reduce costs

After Coinbase Global Inc. cut its headcount by about 18% last year, the cryptocurrency exchange said it is laying off 950 employees, or 20% of the workforce, in another round of job cuts to reduce costs.

Microsoft reportedly in talks to invest $10 billion in ChatGPT creator

US technology giant Microsoft Corp. is reportedly negotiating with the creator of the viral artificial intelligence bot ChatGPT to invest as much as $10 billion in OpenAI.

Amazon says it will lay off over 17,000 staff, significantly more than planned

In the latest sign that a technology slump is worsening, Amazon.com Inc. is laying off more than 17,000 employees, a much more significant number than the 10,000 cuts the retailer previously anticipated.

Apple expands partnership with TSMC after tripling investment at Arizona chip plant

Chief Executive Tim Cook of Apple Inc. said Tuesday that the company would build chips again in the US after a nearly decade-long hiatus, a critical step in reducing its reliance on Asia-based manufacturing.

Tesla offers China buyers incentives as inventory levels at Shanghai plant rise

As China continues to grapple with the impact of on-and-off recurrences of COVID-19, Tesla Inc. is offering further incentives to the country's customers who buy and take delivery of new cars this month.

Salesforce stock plummets after announcing more high-profile departures

In the latest leadership shakeup, the cloud-based software-provider Salesforce.com announced the departure of Slack founder and CEO Stewart Butterfield, effective 31 January.

GM releases game plan and raises guidance for its EV transition

At its investor day in New York City on Thursday, General Motors raised its full-year guidance, saying it expects its portfolio of electric vehicles in North America to be "solidly profitable" by 2025.

Cisco stock gains on earnings beat and robust quarterly forecast

Shares of Cisco, the biggest maker of machines running computer networks and the internet, rose about 5% in extended trading Wednesday after reporting fiscal first-quarter results that beat analysts' estimates.

Nvidia beat earnings estimates on strong data centre demand

Chip designer and computing firm Nvidia assured investors on Wednesday that demand for its artificial intelligence and data-center chips remains strong, even as the company continues to struggle with a slowdown in the personal-computers market.

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