Elon Musk announced on social media that Tesla shareholders were voting to approve a $56 billion pay package for him, and also to move the legal home of the electric vehicle maker to Texas. The voting results indicated wide margins in favor of both proposals. Shareholders are considering ratifying Musk’s 2018 incentive package, which was
Profitability
Oracle, a leading software maker, saw its shares spike by more than 12% to reach an all-time high following the announcement of cloud deals with Google and OpenAI. The database management company revealed plans to bring its database to Google’s cloud in November, as well as partnering with Microsoft and OpenAI to provide supplemental computing
Affirm Holdings saw a nearly 7% increase in its stock following the announcement that its buy now, pay later loans will be integrated into Apple Pay, providing another payment option for U.S. Apple users. This move is expected to boost Affirm’s reach and popularity among consumers, potentially driving further growth in the future. General Motors
The leadership team at Paramount Global recently presented a go-forward plan at their annual shareholder meeting, outlining strategic priorities in the event that a sale of the company does not happen. The plan, presented by the “Office of the CEO” comprised of CBS CEO George Cheeks, Paramount Media Networks CEO Chris McCarthy, and Paramount Pictures
Monzo, a prominent British digital challenger bank, recently made headlines by announcing its first full year of profitability. According to the fintech startup’s annual financial report, it recorded pre-tax profits of £15.4 million ($19.6 million) in the 2023-2024 fiscal year. This achievement marked a significant turnaround from the previous year, where Monzo suffered a loss
Dutch digital bank Bunq has set its sights on obtaining a banking license from UK financial regulators, with hopes of achieving this milestone by the end of the year or early next year. CEO and founder Ali Niknam expressed optimism about the process, acknowledging the differences in regulatory requirements between the UK and other European
Pegasus Airlines, a budget carrier based in Turkey, is gearing up for its next phase of growth by placing a significant order for 36 Airbus A321neo planes. This move comes on the heels of a strong recovery in travel demand post-pandemic. The airline has shown resilience and forward-thinking in its strategic decision-making, with total orders
Dell Technologies experienced a significant drop in share price, with shares falling more than 16% following the release of the company’s fiscal first-quarter results. Despite beating analysts’ expectations, investors were discouraged by Dell’s lower-than-expected artificial intelligence server backlog and the anticipated decline in margins. The stock market’s negative reaction to these news highlights the underlying
Morgan Stanley’s analysts recently increased their price targets on Toyota and Honda, with Honda specifically highlighted as their top choice among Japanese automakers due to improved profitability prospects and sustained shareholder returns. This strategic move is based on the idea that Honda’s profitability is expected to shine brighter in the coming days with a broader
Pinduoduo (PDD) has emerged as a dominant player in China’s e-commerce landscape, beating out competitors such as Alibaba and JD.com. The company’s value-for-money positioning and the growth of its Temu marketplace have propelled it to the top spot in terms of market capitalization. With stellar first-quarter results and a surge in share value, PDD is
The premarket trading session has seen companies like Nvidia, Super Micro Computer, and Advanced Micro Devices making impressive gains. Nvidia soared by 7.4% after announcing strong fiscal first-quarter results, better-than-expected guidance, and a 10-for-1 stock split. Similarly, Super Micro Computer and Advanced Micro Devices saw a jump of more than 5% and 3% respectively. These
Red Lobster, a well-known seafood chain, recently filed for Chapter 11 bankruptcy protection. This move is part of the company’s strategy to reduce its size and attract potential buyers. The company disclosed that it has received a preliminary bid from its current lenders to acquire the business, unless a higher offer is presented. In a
The CEO and co-founder of Navan, Ariel Cohen, has been diligently preparing the company for an eventual initial public offering this year. With recent adjustments to the leadership structure and board of directors, Navan is showing signs of maturity and readiness for the public markets. Rich Liu, an expert in scaling companies from seed to
Last year, media giants heavily relied on sports to attract advertisers during the Upfronts meeting week. The aftermath of a Hollywood strike and cost-cutting measures forced companies to lean more on sports than scripted shows. The decline in content and star power due to the strike led to a focus on live sports, which still