"Cisco Systems announced plans to lay off 5% of its global workforce, translating to over 4,000 employees. This decision is part of the company's strategic realignment to concentrate on burgeoning sectors like AI, amid a challenging economic landscape that has seen many tech giants reevaluate their workforce and investment priorities.
Lyft, the renowned ride-sharing company, faced an extraordinary situation due to a typographical error in its earnings report. This incident not only led to a dramatic fluctuation in the company's stock prices but also spotlighted the critical nature of financial communications and the repercussions of inaccuracies, however minor they may seem.
"JetBlue Airways saw its shares surge by over 15% following the revelation that corporate titan Carl Icahn had acquired a nearly 10% stake in the airline, branding it as undervalued. The disclosure of Icahn's significant investment has stirred the market, coming at a crucial juncture for JetBlue as it endeavors to navigate post-pandemic recovery and the fallout from a thwarted merger with Spirit Airlines.
A Delta Air Lines flight from Minneapolis experienced a serious incident upon landing at Toronto Pearson International Airport on Monday, with images circulating online showing the aircraft flipped upside down on a snow-covered runway.
JPMorgan Chase & Co. CEO Jamie Dimon has made it clear that employees unwilling to comply with the company's full return-to-office mandate should consider working elsewhere. Speaking at a recent town hall meeting, Dimon dismissed an internal petition against the policy, reportedly saying, "I don't care how many people sign that f****** petition."
CVS Health reported stronger-than-expected fourth-quarter earnings Wednesday, with revenue surpassing Wall Street estimates despite ongoing challenges in its insurance unit. Shares of the retail pharmacy giant surged 10% in premarket trading as investors reacted positively to the earnings beat and the company's reaffirmed full-year profit outlook.
Shopify removed an online store linked to rapper Ye, formerly known as Kanye West, after the website sold T-shirts featuring a swastika, the e-commerce platform confirmed Tuesday. The move came after Ye ran a Super Bowl advertisement directing viewers to Yeezy.com, where the controversial merchandise was listed for sale.
Shares of Chinese electric vehicle giant BYD hit a record high on Tuesday after the automaker announced the rollout of its advanced driver-assistance system, DiPilot, across its lineup-including on a model priced below $10,000. The system will integrate artificial intelligence from DeepSeek, a rising AI startup that has drawn comparisons to OpenAI.
McDonald's reported weaker-than-expected fourth-quarter revenue on Monday, as U.S. sales were hit by declining consumer spending and an E. coli outbreak linked to its Quarter Pounder hamburgers. The fast-food giant's global same-store sales edged up 0.4% in the quarter, surpassing Wall Street expectations of a decline, but U.S. same-store sales fell 1.4%, deeper than analysts' projected 0.6% drop.
Yum Brands reported fourth-quarter earnings and revenue on Thursday that exceeded Wall Street estimates, driven by strong sales at Taco Bell and international growth in its KFC division. The company's net sales increased 16% to $2.36 billion, while adjusted earnings per share came in at $1.61, slightly above analysts' expectations of $1.60.
Honeywell announced plans on Thursday to break itself into three publicly traded companies, dismantling one of the last remaining U.S. industrial conglomerates. The move follows mounting pressure from activist investor Elliott Investment Management, which disclosed a $5 billion stake in the company late last year and urged structural changes to unlock shareholder value.
Google's parent company, Alphabet, has quietly removed a key restriction from its artificial intelligence (AI) principles, eliminating language that explicitly banned the use of its AI technologies for weapons development and surveillance.
Alphabet Inc. shares fell more than 7% on Wednesday, marking their worst single-day performance in over a year, after the company missed Wall Street's revenue expectations and revealed higher-than-anticipated capital expenditures aimed at bolstering its artificial intelligence (AI) infrastructure.