JPMorgan Chase CEO and Chairman Jamie Dimon gestures as he speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, D.C., on Dec. 6, 2023. Evelyn Hockstein | Reuters A Russian court sided with state-run lender VTB Bank […]
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Meta’s Reality Labs posts $3.85 billion loss in first quarter
Facebook co-founder and chief executive, Mark Zuckerberg, speaks at an Oculus developers conference while wearing a virtual reality headset in San Jose, California. Glen Chapman | AFP | Getty Images Meta shows no signs of substantially trimming its losses from investing in the metaverse, as competition heightens between the Facebook […]
Chipotle posts big earnings beat as diners shake off higher prices
Chipotle Mexican Grill on Wednesday reported quarterly earnings and revenue that beat analysts’ expectations, fueled by higher traffic to its restaurants. The stock rose 4% in extended trading. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per share: $13.37 adjusted […]
Meta plunges 16% on weak revenue guidance even as first-quarter results top estimates
Meta shares plunged 16% in extended trading on Wednesday after the company issued a light forecast, which overshadowed better-than-expected first-quarter results. Here are the key numbers: Earnings per share: $4.71 per share vs. $4.32 per share expected by LSEG Revenue: $36.46 billion vs. $36.16 billion expected by LSEG Revenue increased […]
Rubrik prices IPO at $32 per share, above the expected range
Bipul Sinha, co-founder and CEO of data security software company Rubrik. Sinha previously backed cloud management company Nutanix. Greylock Partners Rubrik, a data-management software company backed by Microsoft, priced its IPO at $32 a share, according to a person familiar with the matter. That’s above its expected range. The 10-year-old […]
Meta shares plunge on weak revenue guidance
Mark Zuckerberg, CEO of Meta, testifies during the Senate Judiciary Committee hearing titled “Big Tech and the Online Child Sexual Exploitation Crisis,” in Dirksen building on Wednesday, January 31, 2024. Tom Williams | CQ-Roll Call, Inc. | Getty Images Meta shares plunged in extended trading on Wednesday after the company […]
Ford tops first-quarter earnings estimates as commercial unit offsets EV losses
The Ford display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBC DETROIT — Sales of Ford Motor‘s trucks and other commercial vehicles led the automaker to beat Wall Street’s earnings estimates during the first quarter, offsetting losses of its electric vehicles. The company […]
IBM to acquire HashiCorp in $6.4 billion deal, reports another revenue miss
IBM CEO Arvind Krishna appears at the World Economic Forum in Davos, Switzerland, on Jan. 16, 2024. Stefan Wermuth | Bloomberg | Getty Images IBM shares slipped as much as 6% in extended trading on Wednesday after the hardware, software and consulting provider said it would acquire cloud software maker […]
Employee stock purchase plans offer ‘free money’ — but also carry complexity and risk, experts say
Morsa Images | E+ | Getty Images If you work for a publicly traded company, you may have access to discounted company shares via an employee stock purchase plan, or ESPP. While the benefit can be valuable, you need to know the rules and risks before opting into your company’s […]
U.S. Chamber of Commerce, business groups sue FTC over ban on noncompete clauses
FTC Chairwoman Lina Khan testifies during a budget hearing of the House Energy and Commerce Subcommittee on Innovation, Data, and Commerce, April 18, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images The U.S. Chamber of Commerce and several other business groups on Wednesday sued the Federal Trade Commission […]