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
Check out the companies making headlines in the dinner trade. Lyft — Shares of Lyft plunged 22.9% after the company’s earnings report showed mixed results last quarter. The ride-hailing company reported adjusted earnings per share of 10 cents, beating analysts’ expectations of 7 cents, but revenue fell short of the Street’s forecast, coming in at … Read more
Krisztian Bocsi | Bloomberg | Getty Images The port of Bremerhaven, the most important roll on/roll off port in Germany and one of the largest automotive hubs in the world, is in crisis. The combination of the lack of drivers to move containers and cars out of the port and large volumes of regular trade … Read more
Billionaire Chris Sacca Courtesy of Collision Conference The venture capitalist Chris Sacca, one of the first investors in Twitter and an early evangelist of the place, Elon Musk says he needs people around him who are willing to “speak some truth to power” because the company’s problems are too big for him to solve on … Read more
Elon Musk attends the 2022 Met Gala celebrating “In America: An Anthology of Fashion” at the Metropolitan Museum of Art on May 2, 2022 in New York City. (Photo by Gotham/Getty Images) Gotham | Getty Images Since Tesla CEO Elon Musk announced his bid to buy the social network Twitter, shares of his electric car … Read more
Ron Baron, founder of Baron Capital Anjali Sundaram | CNBC I began my career as a securities analyst in 1970. It was a turbulent time. The Vietnam War, Watergate, the resignation of President Richard Nixon, the Iran hostage crisis, a recession, inflation, double digit interest rates, tripled gas prices. The only crisis we didn’t have … Read more
Elon Musk, founder and chief engineer of SpaceX, speaks during the Satellite 2020 conference in Washington, DC, US on March 9, 2020. Yasin Ozturk | Anadolu Agency | Getty Images Twitter has suffered a “massive drop in revenue” due to advertisers pausing spending on the social media platform, Elon Musk, the new owner of the … Read more
Here’s Thursday’s biggest call on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said recent disclosures indicate Apple’s app store revenue may have bottomed out. “Overall, October marked the 4th consecutive month of App Store net revenue declines, although we are closely monitoring the App Store’s performance in the month of November to … Read more
Twitter is a lousy business. have always been. The company has never had a sustained profit. Its audience is much smaller than Facebook or Instagram (both owned by Meta), YouTube (which is part of the Google) or TikTok (owned by China’s ByteDance). It’s not even as big as Snapchat in terms of daily users. Elon … Read more
Elon Musk’s image is seen through a Twitter logo in this illustration taken Oct. 28, 2022. Given Ruvic | Reuters Twitter employees expect an overall reduction of 50% effective after Tesla and SpaceX CEO Elon Musk took the reins of the social network last week. This corresponds to around 3,700 employees. The newly minted CEO … Read more