Snap shares tanked 35% in Wednesday morning trading, a day after the social media company missed revenue estimates and issued light guidance in its fiscal fourth-quarter earnings report. The company is struggling with a slower rebound from a tough 2022 advertising market compared to other firms such as Meta. Snap […]
CNBC News
U.S. engineer contacted China before stealing missile tracking tech, DOJ says
A deactivated Titan II nuclear intercontinental ballistic missile, or ICBM, is seen in a silo at the Titan Missile Museum in Green Valley, Arizona, May 12, 2015. Brendan Smialowski | AFP | Getty Images Federal prosecutors charged an engineer who worked at a Los Angeles-area company with stealing trade secret […]
GM to spend $19 billion through 2035 to source EV battery materials from LG Chem
2025 Cadillac Escalade IQ GM DETROIT – General Motors plans to spend $19 billion over roughly the next decade through a new supplier deal to source critical materials for use in electric vehicle batteries from LG Chem, the companies said Wednesday. The long-term supplier contract will see LG Chem supply […]
Fed Governor Kugler backs caution on rates; Kashkari expects only two or three cuts
Federal Reserve Governor Adriana Kugler said Wednesday inflation is showing solid signs of slowing down, but she is not ready yet to start lowering interest rates. In her first major policy address since being confirmed to the Board of Governors in September 2023, Kugler said three factors are converging to […]
NYCB shares fall as much as 13% after Moody’s cuts regional bank’s credit rating to junk
The New York Community Bank (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024. Bing Guan | Bloomberg | Getty Images New York Community Bank on Wednesday promoted its chairman to help stabilize the company’s operations, hours after Moody’s Investors Service downgraded the bank’s credit ratings two notches to junk. […]
Snap shares drop 30% after company’s revenue miss and weak guidance
Evan Spiegel, CEO of Snap Inc., speaks onstage during the Snap Partner Summit 2023 at Barker Hangar on April 19, 2023 in Santa Monica, California. Joe Scarnici | Getty Images Entertainment | Getty Images Snap shares tanked 30% in Wednesday morning trading, a day after the company missed revenue estimates […]
Fed’s Neel Kashkari expects only two or three interest rate cuts this year
Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis, speaks during an interview with Reuters in New York City, New York, May 22, 2023. Mike Segar | Reuters Minneapolis Federal Reserve President Neel Kashkari said Wednesday he expects the central bank to cut rates only a few […]
NYCB names new chairman after Moody’s downgrades bank’s credit rating to junk
The New York Community Bank (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024. Bing Guan | Bloomberg | Getty Images New York Community Bank’s shares whipsawed between losses and gains early Wednesday after Moody’s Investors Service downgraded the bank’s credit ratings two notches to junk. NYCB […]
Roblox shares rise 13% after company beats estimates and issues strong guidance
The New York Stock Exchange welcomes executives and guests of Roblox in celebration of its direct listing, March 10, 2021. NYSE Roblox reported results for the fiscal fourth quarter on Wednesday that beat consensus estimates on the top and bottom lines. Shares jumped 13% in pre-market trading. Here’s how the […]
How Axe Body Spray is trying to move beyond teenage boys’ lockers
If you were a teenage boy in the early 2000s, there’s a good chance you wore Unilever‘s Axe Body Spray at some point. “The idea that you spray this on and you get the girl is sort of nonsense, really. I mean, they know it, we know it. … So […]