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FINANCIAL NEWS
Rivian maintains production forecast as supply chain challenges continue

On Wednesday, electric vehicle maker Rivian reported first-quarter revenues below Wall Street expectations and maintained its production forecast of 25,000 units for 2022.

Apple pulls the plug on iconic iPod but the music lives on

The iconic Apple iPod, which made its first debut over 20 years ago, is facing the end of the road after the company announced Tuesday it would phase out the last remaining model of the music player, the iPod Touch.

Sony announces booming profit; moves away from traditional hardware

Tokyo-based Sony Corp.'s fourth-quarter net profit surged 67% to $852.7 million from a year earlier, thanks to higher earnings from the game, music, and movie businesses, Sony said Tuesday.

Uber warns of hiring slow down; shifts focus on profitability

According to a CNBC report Monday, Uber Technologies will scale back hiring and reduce expenditure on its marketing and incentive activities. The ride-hailing company becomes the latest to rein over a hiring slow down.

Shares of Block rise on Strong Cash App momentum

Block shares were rising early Friday after the payments company said gross profit from its Cash App rose 26% and that overall consumer spending through April had not seen a decline.

Peloton scouts for minority investment of the company

Shares of Peloton Interactive Inc. tumbled sharply this week on news it is seeking to sell a stake of about 20% of the company in an effort to shore up its business.

Activision Blizzard in the spotlight over Buffett's newly 9.5% stake

Billionaire Warren Buffet at Berkshire's annual shareholder meeting on 30 April 2020 shared an increased position in Activision Blizzard, a stake worth about $5.6 billion.

Amazon stocks plunge amid slow sales growth; warehousing demand cools

Amazon stock plunged Friday after reporting its first quarterly loss since Jeff Bezos stepped down as its CEO and its slowest sales growth since 2001.

Qualcomm reports robust outlook and record-breaking revenue amid diversification

Qualcomm reported a robust earnings outlook and record quarterly revenue for the last quarter, mainly due to its move to focus on growing a non-handset business amid the likelihood of slowing smartphone demand.

Microsoft shares rise amid strong profit outlook; driven by cloud-service demand

On Tuesday, shares of Microsoft Corp rose 6% in after-hours trading after the company posted better-than-expected revenue and a strong profit outlook on sales for the current quarter.

IBM shares surge amid Software and Consulting earnings beat

Shares of International Business Machines Corp., better known as IBM, climbed 7% to $138.25 a day after posting results for the first quarter ended 31 March 2022

Tesla posts it highest profit beat in Q1; shares climb

After the electric-vehicle maker posted its highest quarterly profit yet this week, Tesla Inc. shares climbed Thursday, up 3.2% at $1,0008.78.

Ford inks deal for lithium supply, teases F-150 Lightning EV launch

On Monday, Ford Motor Co. announced its agreement to buy lithium from a Lake Resources NL facility in Argentina and later teased a launch date reveal for the highly anticipated F-150 Lightning electric truck.

Shopify announces stock split to protect CEO's voting power

In a regulatory filing Monday, Canadian e-commerce platform Shopify, Inc. announced a 10-for-1 stock split and a new share class dubbed the "Founder share" for its CEO, Tobi Lütke, that will give the founder 40% of the total voting power.

Tesla celebrates new Giga factory in Texas at "Cyber Rodeo" event

To celebrate Giga Texas, Tesla Inc.'s newest factory in Texas near the Austin airport, CEO Elon Musk threw an elaborate party for more than 15,000 people Thursday night.

SoFi Technologies shares fall on lowered revenue guidance

Financial service provider SoFi Technologies Inc. lowered its revenue guidance for full-year 2022 on Wednesday after President Joe Biden postponed the suspension date of federal student loan payments.

Uber has ambitious plans to create a super-app for travel

On Wednesday, leading ridesharing and mobility company, Uber (NYSE:UBER), said it would add trains, buses, planes, and car rentals as transportation options for its customers in the UK later this year.

GM and Honda to jointly expand electric vehicles and technology

On Tuesday, General Motors Co. and Honda Motor Co. said they would collaborate on cost-effective plug-in technology to produce a series of electric vehicles.

A look inside Netflix's future, what investors should know

While global markets are coping with various challenges and geopolitical uncertainties, Netflix has had its fair share of ups and downs since the onset of the coronavirus pandemic.

NIO delivers solid quarterly results for vehicle deliveries

For March 2022, Nio reported 9,985 vehicle deliveries, representing year-over-year growth of 37.6%, while cumulative deliveries of vehicles as of March 31, 2022, reached 192,838.

Google sends autonomous vehicles into U.S. streets with Waymo

Google's (NASDAQ:GOOGL) sister company, Waymo LLC, is making its first attempt at sending cars without any human control into major metropolitan areas with its fully autonomous vehicles.

FedEx focuses on Autonomous trucks and Drone Cargo delivery

On Wednesday, FedEx subsidiary FedEx Express said it would begin testing Elroy Air’s Chaparral autonomous air cargo system next year.

Sofi introduces cryptocurrency purchase feature for members

SoFi Technologies, Inc. (SOFI) announced Tuesday that members will now be able to invest part of every direct deposit into cryptocurrency with zero fees, building on the company's robust offerings.

UPS expands deal with Google Cloud to increase data analysis

As the logistics company rolls out new data initiatives, United Parcel Services is set to announce an expansion of its 2019 deal with Alphabet's Google Cloud.

Nvidia unveils a slew of new products in a push to lead AI

On Tuesday, Nvidia Corporation's CEO Jensen Huang announced a slew of new products and initiatives at the keynote address of the GTC 2022 virtual conference, which will run through Thursday, March 24.

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