Snap Inc.’s life as a high-growth young tech stock is over, and its rivals are about to show how much of that change is about Snapchat. “From our recent conversations with our partners, it seems like advertising demand hasn’t really improved, but it hasn’t gotten significantly worse either,” Snap co-founder and Chief Executive Evan Spiegel … Read more
McDonald’s Sales Boosted by Adult Happy Meals, Price Increases The Wall Street Journal McDonald’s profit grows as inflation-weary customers flock to its restaurants CNBC McDonald’s tops Q4 earnings, U.S. same-store sales up 10.3% Yahoo Finance McDonald’s Q4 earnings beat estimates, boosted by higher menu prices, digital sales Yahoo Finance Adult Happy Meals, McRib, feed McDonald’s sales in Q4 ABC News … Read more
Text size Pfizer said it expects Covid-19 vaccine sales to drop to $13.5 billion in 2023. Mario Tama/Getty Images Pfizer on Tuesday laid out guidance for the 2023 fiscal year well below Wall Street consensus figures, tempering investor expectations ahead of what it expects to be a steep drop in Covid-19 product sales. Shares fell … Read more
Goldman Sachs Cut CEO David Solomon’s Pay to $25 Million in 2022 The Wall Street Journal Goldman Sachs Cuts CEO David Solomon’s Pay About 30% Bloomberg Markets and Finance Goldman’s David Solomon takes a near 30% pay cut to $25mn after rocky 2022 Financial Times Goldman Sachs CEO David Solomon gets 29% pay cut to $25 million after … Read more
Dow to Cut 2,000 Jobs Globally – WSJ The Wall Street Journal Dow cutting about 2000 jobs, or 5% of workforce Detroit News Dow is cutting about 2,000 jobs, or 5% of workforce Fox 34 Dow to cut 2,000 jobs, plans to save $1B in costs Fox Business Dow will eliminate 2,000 jobs world-wide, cut $1 billion in costs Midland … Read more
International Business Machines Corp. increased revenue more than 6% in 2022, the biggest sales increase for Big Blue in more than a decade, but its stock fell in extended trading Wednesday. Chief Executive Arvind Krishna said on IBM’s IBM, -0.52% earnings call that the company saw “revenue growth across segments and geographies,” and attributed that … Read more
Text size Tesla reported fourth quarter earnings per share of $1.19 from sales of $24.3 billion. Anna Moneymaker/Getty Images Tesla posted solid fourth-quarter numbers, but investors will want to hear more about demand and profit margins later this evening. Tesla (ticker: TSLA), on Wednesday evening, reported fourth quarter earnings per share of $1.19 from sales … Read more
Business Earnings Software giant’s revenue growth slowed to a more than six-year low as demand for cloud services cooled
3M to Cut Jobs as Demand for Its Products Weakens The Wall Street Journal 3M to cut 2500 jobs, stock falls on Q4 earnings miss Yahoo Finance 3M to cut 2,500 jobs, forecasts downbeat Q1 as demand weakens Yahoo Finance 3M to cut 2,500 global manufacturing jobs Star Tribune 3M cutting thousands of jobs, profits tumble Fox Business View Full … Read more
Rivian’s Chief Lobbyist Is Leaving the EV Startup – WSJ The Wall Street Journal