Tesla CEO Elon Musk donated 11.5 million shares, which is equivalent to $1.9 billion of Tesla stock, to charity last year. The donation would make him the second-largest charitable donor in 2022. Musk’s net worth at the end of 2022 stood at $137 billion, so the donation represented about 1 point 4 percent of his net worth at that time. […]
Snapchat suffered a huge setback when its stock stumbled, trading below par at the close of the week. Shares of Snap closed down 39% after the company reported disappointing second-quarter results. Snap missed Wall Street expectations on the top and bottom lines and said it plans to slow hiring. The social media company attributed its results to a challenging economy, […]
The S&P 500 fell 165.17 points to 3,923.68, while the Dow slid 1,164.52 points to 31,490.07. The Nasdaq slid 566.37 points to 11,418.15. The stock market took its biggest hit in nearly two years against the backdrop of Target and other major retailers reporting less than stellar performance. Target lost a quarter of its value after reporting earnings that fell […]
Apple Inc., the multinational technology giant, ceded its position as the world’s most valuable company amid a broad sell-off of technology stocks. Saudi Arabian oil and gas producer Aramco has reclaimed its number one position for the first time in almost two years. Investors have been selling shares in technology firms as they move into what they see as less […]
Global markets took a beating as Wall Street suffered its worst day of decline within the year. Major European indexes fare no better in early trading. In the U.S., the losses came after the Dow dropped more than 1,100 points and the S&P 500 fell 3.7 percent on Thursday, wiping out Wednesday’s gains as investors worried about the impact of […]
Netflix, the American subscription streaming service and production company’s stock plunged after news that the number of subscribers to the platform fell for the first time in over a decade. The stock plummeted 21 percent in after-hours trading, as Wall Street reacted to Netflix losing 200,000 subscribers in the first quarter and predicting further losses in the second quarter. The […]
Facebook’s stock was up against the wall in trading as shares of the company recently dropped by over 24%. Over $29 billion was reportedly peeled off Mark Zuckerberg’s personal net worth given this fall. According to Dow Jones Market Data Group, over $219 billion in market value has been erased, the most for any U.S. company in a single day. […]
With the expectation of a rise in inflation in the U.S, stock markets worldwide took a nosedive with major US indexes falling more than one percent on Tuesday. Meanwhile, European bourses saw steep declines on fears among traders that rising consumer prices could push up interest rates. The UK’s benchmark share index, the FTSE 100, closed 2.47 per cent lower. […]
A shift in consumer preference for freshly produced products over-processed foods is putting Kraft Heinz under pressure to catch up with consumers’ needs. The company reported fourth-quarter sales recently shows a five percent dip in sales, falling short of Wall Street’s forecasts. Although earnings beat analysts’ estimates, shares of Kraft Heinz have shown a eight percent decline. The stock is […]
More and more countries and companies are seeking to cash in on the green cannabis ‘gold’ market. Up to five companies active in the cannabis industry could go public in 2020 in Europe, a continent whose stock markets have largely missed out on the North American “pot stocks” frenzy. This was revealed by insiders at European investment bank, Bryan Garnier. […]
