Corporate Layoffs Spread Beyond High-Growth Tech Giants: WSJ
Dow, IBM and SAP say they will lay off thousands of workers as belt-tightening becomes the new business priority. Source link
Apple couldn’t save the smartphone industry from its worst year since 2013
The personal-computer market just capped off a bad year, but the smartphone market suffered more—at least by one metric. The smartphone industry shipped 1.21 billion units during 2022, marking the lowest shipment count since 2013, according to researchers from IDC. Smartphone shipments declined 11.3% on the year. The PC market saw a steeper… Source link
Dow falls 400 points after corporate earnings disappoint
U.S. stocks traded lower Wednesday, led by the Nasdaq Composite, after disappointing corporate earnings results added to fears of a possible recession.How are stocks trading On Tuesday, the Dow Jones Industrial Average rose 104 points, or 0.31%, to 33733, the S&P 500 declined 3 points, or 0.07%, to 4016.95, and the Nasdaq Composite dropped 30 […]
Microsoft stock dives into the red after forecast misses, CFO warns about deceleration
Microsoft Corp.’s profit declined more than 12% in the holiday season, and executives said Tuesday that a revenue deceleration at the end of 2022 is expected to continue into the new year as the company lays off workers. Microsoft MSFT Chief Financial Officer Amy Hood said in a conference call Tuesday that “we are seeing […]
Spotify reportedly planning layoffs as soon as this week
After slowing its pace of hiring last year, Spotify Technology SA is planning layoffs as soon as this week, according to a new report, adding to the wave of jobs cuts sweeping across the tech industry. Citing people familiar with the plans, Bloomberg News reported late Sunday that the streaming music service faces imminent job […]
Opinion: ‘Young people know more about TikTok and Minecraft than money.’ Teenagers want to be smarter about finances — teach them.
A recession looms, inflation has skyrocketed, interest rates are rising, and many Americans’ personal finances are in jeopardy. The financial knowledge necessary for students like myself to navigate these turbulent times is in short supply, but the demand is high. The circumstances of peoples’ economic struggles are complex and systemic, as are the potential solutions. But there […]
Salesforce carries heavy ‘disruption risk’ that threatens its stock, analyst says
Salesforce Inc. is shaking up its leadership and its broader organization, and those changes carry uncertainty for its stock, according to an analyst. Cowen & Co.’s Derrick Wood downgraded shares of Salesforce CRM, +0.54% to market perform from outperform Friday, warning of the potential for “elevated levels of disruption risk” due to a handful of […]
2023 ‘is the year AI crosses the chasm,’ but for one reason, John Chambers says
Venture capitalist John Chambers is an eternal optimist, but even he admits 2023 could be “tough” for tech. While this could sideswipe a couple of Big Tech companies, leading them to a road of losing market leadership by the end of the decade, it could present an opportunity for startups in artificial intelligence and cybersecurity […]
Still need a Mega Millions ticket? You might be able to buy one with your phone
Many Americans will be rushing today to grocery stores and gas stations to buy tickets for tonight’s big Mega Millions drawing with a $1.35 billion jackpot. But for Brandon Sansone, there’s no reason to head out in a last-minute panic: He can make all his lottery purchases without even looking up from his phone.Sansone is […]
Tesla is a ‘soft-landing’ stock, says Goldman Sachs. Here are its picks for a gentle slide as well as a rough landing.
Pour one out for the beleaguered economists, who for once got an important indicator, the consumer price index, right on the nose, after CPI fell 0.1% in December, while core prices rose 0.3%. “The 2021 surge in durable goods demand normalized, and the resulting collapse in durable goods price inflation was stunningly fast,” says Paul […]