Elon Musk is selling Tesla shares for at least $3.95 billion

Elon Musk is selling Tesla shares for at least $3.95 billion

An image of new Twitter owner Elon Musk is seen surrounded by Twitter logos in this photo illustration in Warsaw, Poland on November 8, 2022. STR | Nurphoto | Getty Images Elon Musk has sold at least another $3.95 billion value of shares in his electric car company Tesla after closing its $44 billion purchase … Read more

Salesforce cut hundreds of employees Monday

Salesforce cut hundreds of employees Monday

Sales force confirmed on Tuesday that it is cutting some employees this week after the company’s software maker saw demand ease in some countries and industries. Protokol previously reported on the cuts, saying they could affect up to 2,500 employees. A person familiar with the matter said Salesforce let go fewer than 1,000 people on … Read more

Binance Offers to Buy FTX’s Non-US Operations to Fix ‘Liquidity Crisis’

Binance Offers to Buy FTX’s Non-US Operations to Fix ‘Liquidity Crisis’

Binance, the world’s largest cryptocurrency firm, has reached an agreement with Sam Bankman-Fried’s FTX to buy the rival crypto exchange for an undisclosed amount, saving the company from a liquidity crisis. Binance CEO Changpeng Zhao tweeted Tuesday morning that “there is a significant liquidity crunch” at FTX, and that after FTX asked for Binance’s help, … Read more

Meta is stocking up on the report, mass layoffs are set to begin

Meta is stocking up on the report, mass layoffs are set to begin

The Meta Platforms Inc. pavilion on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, Monday, May 23, 2022. Jason Alden | Bloomberg | Getty Images Shares of Facebook owner Meta rose 6.5% on Monday after a Wall Street Journal report over the weekend said the company could start layoffs as soon … Read more

Apple warns of Covid restrictions in China harming iPhone production

Apple warns of Covid restrictions in China harming iPhone production

After a Covid outbreak at a Foxconn factory in Zhengzhou, China, some workers chose to go home. The picture here shows the shuttle buses on 30 October 2022. VCG | Getty Images Apple said in a statement on Sunday that it has temporarily reduced production of the iPhone 14 due to Covid-19 restrictions at its … Read more

Atlassian (TEAM) Q1 2023

Atlassian (TEAM) Q1 2023

Scott Farquhar, co-founder and co-CEO of software company Atlassian, speaks during a jobs and skills summit at Parliament House on September 1, 2022 in Canberra, Australia. The Australian Government is bringing together political, business, union and community leaders at Parliament House to address issues facing the Australian economy and workforce as inflation and interest rates … Read more

Amazon stops hiring the company’s workforce

Amazon stops hiring the company’s workforce

Amazon CEO Andy Jassy speaks at the GeekWire Summit in Seattle on October 5, 2021. David Ryder | Bloomberg | Getty Images Amazon is halting hiring for roles in the company’s workforce, the company announced in a memo to staff Thursday. The company had already announced last month that it would freeze hiring for corporate … Read more

Etsy earnings Q3 2022

Etsy earnings Q3 2022

Josh Silverman, CEO of Etsy Adam Jeffery | CNBC Etsy shares rose as much as 10% in extended trading Wednesday after the online marketplace’s third-quarter revenue and earnings beat expectations. The company also issued positive guidance for the current period. Here’s how the company did it: Earnings: 58 cents per share, adjusted, versus 36 cents … Read more

Cloud stocks rose as the Fed indicates more rate hikes are on the way

Cloud stocks rose as the Fed indicates more rate hikes are on the way

Investors pounded cloud software stocks on Wednesday on concerns that interest rates will rise further than previously expected. Stocks initially rose when the Federal Reserve announced it would raise its benchmark interest rate by 75 basis points. But after Powell began speaking at the central bank’s press conference, stocks reversed their gains and fell to … Read more

Qualcomm (QCOM) earnings Q4 2022

Qualcomm (QCOM) earnings Q4 2022

Cristiano Amon, president and CEO of Qualcomm, speaks during the Milken Institute Global Conference on May 2, 2022 in Beverly Hills, California. Patrick T. Fallon | AFP | Getty Images Qualcomm shares fell 7% in extended trading Wednesday after the chipmaker reported in-line fiscal fourth-quarter earnings but offered poor guidance for the first quarter. The … Read more