On Thursday, Cisco made a bold move by announcing a 7% reduction in its workforce, which resulted in a surge of 8% in its shares. This news marked the company’s best day since March 2020. The decision to trim down its employee base was coupled with the release of quarterly results that outperformed analyst expectations.
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A bipartisan group of federal lawmakers recently raised concerns regarding Meta’s failure to prevent illicit drug advertisements from circulating on its platform. The lawmakers referenced reports from reputable sources such as The Wall Street Journal and the nonprofit Tech Transparency Project, which revealed a significant number of ads on Facebook and Instagram promoting the sale
In the world of investing, seeking out advice on where to put your money can be a daunting task. Some people rely on their own research, while others turn to traditional investment advisors with years of experience. However, there is a growing trend of individuals turning to a new breed of advisors known as “finfluencers.”
Blake Lively’s latest film, “It Ends With Us,” continues to dominate the box office, outperforming her husband Ryan Reynolds’ film, “Deadpool & Wolverine.” The romantic drama, directed and starring Justin Baldoni, has been a surprise hit, earning $5.5 million on Wednesday alone. Despite facing competition from “Alien: Romulus,” “It Ends With Us” is projected to
Financial technology firm Klarna is making significant moves into the banking industry by introducing new products aimed at enhancing customer experiences and loyalty. The company’s CEO and founder, Sebastian Siemiatkowski, highlighted the importance of disrupting retail banking and promoting the use of Klarna for day-to-day spending. Klarna is rolling out two new products, “balance” and
Despite the ongoing litigation and financial challenges faced by Landmark Theatres, the company remains resilient in its commitment to the business. With a recent judge setting an auction date for the chain and other properties due to defaulting on a significant loan, the future may seem uncertain. However, Landmark Theatres is dedicated to finding a
UBS CEO Sergio Ermotti recently addressed the issue of market volatility, predicting that it could potentially intensify in the second half of the year. While some investors have expressed concerns about a possible recession in the United States, Ermotti remains optimistic, stating that a slowdown is more likely than a full-blown recession. The recent sell-offs
Cisco Systems experienced a 6% jump in its stock after reporting an earnings and revenue beat for its fiscal fourth quarter. The networking company posted adjusted earnings of 87 cents per share on revenue of $13.64 billion, surpassing analysts’ expectations. Despite this positive news, both revenue and earnings for the fiscal year decreased, marking the
The U.S. stock index futures saw a slight rise on Wednesday evening, following positive momentum on Wall Street upon the release of data showing a cooling in consumer inflation during July. This development raised expectations for a reduction in interest rates by the Federal Reserve. The softer-than-expected inflation readings this week have fueled speculations that
The volatile nature of the stock market is evident in the premarket trading activities of various companies. Kellanova’s shares rose significantly after agreeing to be acquired by Mars, while Alphabet experienced a drop in share prices due to reports of potential regulatory actions. This highlights the influence of external factors on company performance and investor
Starbucks recently announced that Brian Niccol will be taking over as CEO and Chair, leaving his role as chief executive at Chipotle Mexican Grill. In order to attract Niccol to the company, Starbucks offered him a significant pay increase and one-time awards. Niccol’s compensation package includes a base salary of $1.6 million annually, with the
Brinker International saw a significant stock drop of around 12% after reporting disappointing fourth-quarter earnings. The adjusted earnings per share fell short of expectations, leading to a weaker profit forecast for the full year. This indicates potential issues within the company’s operations and financial performance. On the other hand, Victoria’s Secret experienced a surge of
Australia’s corporate regulator, ASIC, has filed a lawsuit against the country’s bourse operator, ASX Ltd, for allegedly making deceptive statements regarding the timeline to replace its trading platform, Clearing House Electronic Subregister System (CHESS). ASIC claims that ASX’s statements about the project’s progress and timeline were misleading and deceptive. ASIC alleges that ASX’s claims that
Recently, a New York State Supreme Court judge announced an auction date of November 8 for the properties owned by Charles Cohen’s Cohen Realty Enterprises. This includes the U.S. Landmark and UK Curzon arthouse cinema chains that he acquired in 2018 and 2019. The reason behind this auction is the lawsuit filed by Fortress Credit