‘ChatGPT is today’s hand calculator,’ this CEO says
Will you be able to build the next blockbuster videogame at home using ChatGPT? Not so fast, says Take-Two Interactive Software Inc. TTWO, -3.40% Chief Executive Strauss Zelnick. But that doesn’t mean the technology lacks promise. Read: Take-Two stock slips as company plans cost cuts, outlook falls below Street view Zelnick said on his company’s […]
UPS foresees ‘mild recession’ in 2023 and posts first revenue decline since the 2008 financial crisis
Shares of United Parcel Service Inc. rallied Tuesday, even after the package-delivery giant reported a surprise decline in fourth-quarter revenue, missing Wall Street expectations for the first time in 12 quarters, and warned of the first yearly decline in revenue in 14 years. Investors expressed relief, however, as UPS beat fourth-quarter profit expectations, raised its […]
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
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 […]
On eBay, sellers are hawking water from Disney’s shuttered Splash Mountain ride
Walt Disney World DIS, +2.14% shuttered its popular but controversial Splash Mountain boat ride over the weekend, ending the attraction’s three-decade run. But some entrepreneurs are pitching a way to keep the water flowing, so to speak. Namely, they are selling water they say is sourced from the ride. There are dozens of listings on […]
Elon Musk takes the stand as battle lines drawn in trial over Tesla tweets
Tesla Inc. Chief Executive Elon Musk took the witness stand briefly late Friday in a federal trial in San Francisco over alleged investor losses caused by his “funding secured” tweet and other tweets back in 2018. In his roughly half-hour being questioned by a defense lawyer, Musk lauded Twitter Inc. as the most “democratic” way […]
WWE streaming on Netflix or Amazon? One analyst says it’s possible
World Wrestling Entertainment Inc.’s search for a buyer or some other business arrangement has “a reasonable probability of success” that could draw the interest of streaming giants like Netflix Inc. NFLX, -1.98% and Amazon.com Inc. AMZN, -2.11%, Wells Fargo analysts said Tuesday. Those analysts upgraded WWE WWE, +0.29% shares to their version of hold from […]
Why value stocks may not repeat their vast 2022 outperformance in 2023
Are so-called value stocks still living up to their name? Some aren’t so sure. After more than a decade of lackluster returns, the value factor beat the broader market and outperformed rival growth stocks in 2022 by the widest margin since 2000. Still, both broad categories suffered sizable declines during a bear market that sent […]
Salesforce layoffs at its home base in San Francisco number in the hundreds so far
Salesforce Inc., which last week said it would be slashing 10% of its workforce, or about 8,000 people, has disclosed a wave of layoffs at its San Francisco headquarters in a filing with the state of California. A total of 752 job cuts will become effective March 24, Salesforce CRM, -1.72% said in a letter […]
Opinion: Why a prominent Tesla investor wants Elon Musk to put him on the board
Ross Gerber is well-known in certain circles as a longtime Tesla Inc. investor, thanks to being a bullish voice on Twitter about the electric-vehicle company. As Tesla TSLA, +5.93% stock has plummeted in recent months while Chief Executive Elon Musk sells shares and focuses on his newer toy, Twitter Inc., Gerber has changed his tune […]