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Tag: Big Tech

The Dow and Nasdaq sink as Microsoft and Meta lead the selloff in tech stocks

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The Dow and Nasdaq sink as Microsoft and Meta lead the selloff in tech stocks

In this story The Dow Jones Industrial Average fell more than 400 points Thursday morning, along with sharp declines in the Nasdaq and S&P 500, after Microsoft's weaker-than-expected earnings reports (MSFT-5.59%) and Meta (META-3.99%). super microcomputer (SMCI-13.76%) The stock continued to fall afterwards the resignation of Ernst & Young, the company's auditor, and now it's […]

Alphabet's profit estimates fall as its cloud business expands

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Alphabet's profit estimates fall as its cloud business expands

Google parent Alphabet (GOOG, GOOGL) reported fiscal third-quarter earnings after the bell on Tuesday, beating analysts' estimates on revenue and profit, as its cloud business continues to expand and Big Tech's profits with a robust bottom line ushered in. The search giant reported earnings per share of $2.12 on revenue of $88.27 billion. Analysts expected […]

What you should know this week

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What you should know this week

Stocks are in one of the busiest weeks of the year and are nearing record highs. A late-week rally led by a rise in Tesla shares (TSLA) helped the Nasdaq Composite close the week just shy of a new record high, up about 0.9%. Meanwhile, the S&P 500 (GSPC) fell more than 0.3% and the […]

Nvidia stock closes at a high as Wall Street eyes AI demand

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Nvidia stock closes at a high as Wall Street eyes AI demand

Nvidia CEO Jensen Huang at the Bipartisan Policy Center on September 27, 2024 in Washington, DCphoto: Chip Somodevilla (Getty Images) In this story Nvidia (NVDA+4.08%) closed at a record high on Monday as Wall Street awaits Big Tech's November earnings report. Novo Nordisk's pill form of the drug Ozempic may reduce the risk of heart […]

Meta Axes employee accused of abusing food benefits amid more frequent layoffs

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Meta Axes employee accused of abusing food benefits amid more frequent layoffs

Meta has reportedly fired around two dozen employees for misusing their meal credits. The dismissal, how reported The Financial Times (FT) Wednesday (October 16) comes amid a major series of layoffs at Meta. According to the report, the Los Angeles-based employees had used $25 worth of meal credits to purchase various household items. The FT […]