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FINANCIAL NEWS
Rivian finally announces second-quarter production figures, shares climb

After much-awaited vehicle production and delivery figures, Rivian Automotive said Wednesday it manufactured 4,401 electric vehicles at its Illinois plant in the second quarter.

General Motors guides lower, warns of continued supply disruptions

On Friday, General Motors offered lackluster guidance for its second quarter as continued supply chain disruptions impact its wholesale volumes.

Amazon celebrates Prime members exclusivety with its stake in Grubhub

In a deal that gives the e-commerce giant the option to acquire a stake in the company, Amazon agreed to add Just Eat Takeaway.com NV's Grubhub to its suite of Prime services in the U.S.

Tesla under pressure over staff related matters

On Tuesday, CEO Elon Musk of Tesa said the electric vehicle maker would be cutting its salaried workforce by 10% over the next three months.

Micron shares lower as guidance disappoints, weaker consumer demand

Shares of the leading supplier of memory and storage chips, Micron, fell 5.8% in Friday trading after the company reported better-than-expected fiscal third-quarter results, but guidance missed analyst views.

Shopify shares pop as it teams up with Twitter

Earlier this week, Twitter announced that Shopify's merchant customers would be able to connect their Twitter accounts to their Shopify accounts.

Roku shares jump after analyst predictions, all eyes on Netflix

On Tuesday, Roku shares jumped 8% after an analyst at Needham outlined reasons she thinks the company can benefit from Netflix's planned push into selling ads.

Meta Platforms invests heavily in metaverse and AI across businesses

On Wednesday, CEO Mark Zuckerberg of Facebook parent, Meta Platforms, told CNBC's Jim Cramer that the defining trait of the metaverse is the ability to feel a sense of presence.

Coinbase to lay off 18% of workers after plunging on looming crypto winter

On Tuesday, Coinbase Global Inc. added to a further wave of reckoning through the cryptocurrency industry after the company said it would cut almost a fifth of its staff.

Nio falls on outlook, but Valuation upside remains attractive

Last week, Chinese electric vehicle maker Nio reported disappointing first-quarter results, having lost $281.2 million, broader than the $68.8 million it lost a year ago.

Ford to invest $3.7 billion in EV, gas-engine production amid strong demand

In an effort to expand vehicle production, Ford Motor Co. said Thursday it plans to add 6,200 union manufacturing jobs and invest $3.7 billion into plants in Michigan, Ohio, and Missouri.

Intel gives discouraging update on macro environment, freezes hiring

Intel is joining other companies in reassessing priorities amid global economic uncertainty as it adjusts near-term spending plans.

Spotify plans to reach 1 billion subscribers by 2030, shares rise

At the company's recent Investor Day, music streaming service Spotify said it expects revenue to increase tenfold in the coming decade.

Apple to announce iPad changes, including making it more like a laptop

Next week, Apple Inc. is expected to announce significant changes to the iPad's software which will likely morph the tablet into more of a computer and less of a phone, according to people familiar with the matter.

GameStop reports a mixed bag of earnings results, shifts to NFTs

On Wednesday, GameStop reported mixed first-quarter results as the video game retailer pivots toward a more online-focused model and shifts to cryptocurrencies and nonfungible tokens.

Stellantis expands partnership with Toyota in long-term strategy push

Stellantis NV and Toyota Motor Europe NV said Monday they would expand their existing partnership to produce a new large-sized commercial van, including a battery-electric version for the European market.

Nvidia posts record sales in data center and gaming

Graphics-chip maker Nvidia Corp. gave a muted sales outlook Wednesday as it posted record sales in Data Center and Gaming for the most recent quarter.

Alibaba surge in Hong Kong after strong earnings beat

On Friday, Alibaba Group Holding Ltd shares soared in Hong Kong, extending the positive momentum from U.S. trading overnight as investors welcomed the company's better-than-expected earnings.

Dell's earnings crush estimates on strong PC and enterprise demand

In premarket trading Friday, shares of Dell Technologies Inc. rose 12% after the company reported higher first-quarter sales and lower operating expenses.

Sony to ramp PS5 sales, buy more game studios, grow live services

Sony Group Corp.'s gaming division will ramp up production of its PlayStation 5 console, acquire more game studios and increase investment in additional offerings, its gaming chief said recently.

Snap falls sharply after profit warning, drags rivals with it

Shares of the social media company Snap Inc. plunged as much as 30% in extended trading Monday after warning that it may miss its second-quarter guidance and cut its revenue and profit forecasts below the low end of previous expectations.

Shares of VMware jump on Talks of Broadcom takeover

Shares of VMware, the cloud-computing company backed by billionaire Michael Dell, rose 19% in premarket trading on Monday, following news reports that Broadcom Inc. is in talks to acquire the firm.

Shopify shares are surging on Crypto.com expansion

Earlier this week, Crypto.com, a popular cryptocurrency platform based in Singapore, announced that Shopify merchants are now able to activate Crypto.com Pay on their online storefronts.

Cisco spooks investors on bleak outlook; shares plunge

Cisco Systems Inc. spooked investors Wednesday after generating lower quarterly revenue than analysts expected, sending shares down by as much as 17% in extended trading.

Mastercard pushes its way into the metaverse with facial recognition rollout

Mastercard announced Tuesday it is testing new facial recognition methods to do away with actual credit cards as part of a push toward doing business in the metaverse.

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