Jonathan Wong
The Latest
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Alphabet Shares Drop Over 7% as AI Spending Surges, Cloud Growth Slows
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. 
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. -
Walmart Cuts Hundreds of Jobs, Closes North Carolina Office in Workforce Shakeup
Walmart Inc., the nation's largest private employer, is cutting hundreds of jobs and closing an office in Charlotte, North Carolina, as part of a broader effort to consolidate its corporate workforce in Arkansas and California. The move follows a company-wide strategy shift to bring more employees back to in-person work at its key hubs. 
Walmart Inc., the nation's largest private employer, is cutting hundreds of jobs and closing an office in Charlotte, North Carolina, as part of a broader effort to consolidate its corporate workforce in Arkansas and California. The move follows a company-wide strategy shift to bring more employees back to in-person work at its key hubs. -
USPS says it will again accept inbound packages from China, reversing sudden ban
The United States Postal Service said Wednesday it will once again accept inbound parcels and mail from China and Hong Kong, reversing a short-lived suspension announced just a day earlier. The abrupt policy change comes in the wake of President Donald Trump's newly imposed tariffs on Chinese goods and the elimination of the "de minimis" exemption that previously allowed small-value packages from China to enter the U.S. duty-free. 
The United States Postal Service said Wednesday it will once again accept inbound parcels and mail from China and Hong Kong, reversing a short-lived suspension announced just a day earlier. The abrupt policy change comes in the wake of President Donald Trump's newly imposed tariffs on Chinese goods and the elimination of the "de minimis" exemption that previously allowed small-value packages from China to enter the U.S. duty-free. -
GM Slashes Cruise Workforce by 50% as Robotaxi Program Ends
General Motors is laying off roughly half of the employees who remain at its now-defunct Cruise robotaxi division, months after announcing it would no longer fund the project. The Detroit-based automaker said in December it was discontinuing the self-driving ride-hail business, having poured more than $10 billion into Cruise since acquiring a majority stake in 2016. 
General Motors is laying off roughly half of the employees who remain at its now-defunct Cruise robotaxi division, months after announcing it would no longer fund the project. The Detroit-based automaker said in December it was discontinuing the self-driving ride-hail business, having poured more than $10 billion into Cruise since acquiring a majority stake in 2016. -
Pfizer Beats Q4 Earnings Estimates as COVID Sales and Cost Cuts Drive Growth
Pfizer Inc. (PFE) exceeded Wall Street expectations in its fourth-quarter and full-year 2024 earnings report, bolstered by higher-than-anticipated sales of its COVID-19 products and aggressive cost-cutting measures. The pharmaceutical giant posted revenue of $17.76 billion for the quarter, surpassing analyst estimates of $17.36 billion, according to LSEG. Adjusted earnings per share came in at 63 cents, well above the expected 46 cents per share. 
Pfizer Inc. (PFE) exceeded Wall Street expectations in its fourth-quarter and full-year 2024 earnings report, bolstered by higher-than-anticipated sales of its COVID-19 products and aggressive cost-cutting measures. The pharmaceutical giant posted revenue of $17.76 billion for the quarter, surpassing analyst estimates of $17.36 billion, according to LSEG. Adjusted earnings per share came in at 63 cents, well above the expected 46 cents per share. -
Palantir Stock Rallies 27% as AI Momentum Drives Earnings and Outlook Higher
Palantir Technologies soared to a record high on Tuesday, with shares climbing as much as 27% after the Denver-based software company reported fourth-quarter earnings that beat Wall Street's targets and unveiled stronger-than-anticipated guidance for 2025. 
Palantir Technologies soared to a record high on Tuesday, with shares climbing as much as 27% after the Denver-based software company reported fourth-quarter earnings that beat Wall Street's targets and unveiled stronger-than-anticipated guidance for 2025. -
OpenAI Partners with Kakao, Strikes Major SoftBank Venture
OpenAI has announced two sweeping partnerships in Asia, forging a deal with Korea's Kakao and signing a strategic joint venture with Japan's SoftBank. Both moves underscore its ambition to bolster AI services in regional markets while harnessing more localized language data to refine its large language models. They also come at a time of rising competition, especially from Chinese AI company DeepSeek, which recently made headlines in the U.S. 
OpenAI has announced two sweeping partnerships in Asia, forging a deal with Korea's Kakao and signing a strategic joint venture with Japan's SoftBank. Both moves underscore its ambition to bolster AI services in regional markets while harnessing more localized language data to refine its large language models. They also come at a time of rising competition, especially from Chinese AI company DeepSeek, which recently made headlines in the U.S. -
Ontario Cancels $68 Million Starlink Deal as Trump’s Tariffs Target Canadian Imports
Ontario Premier Doug Ford announced on Monday that he is canceling a CA$100 million (US$68 million) contract with Elon Musk's Starlink, in direct retaliation to President Donald Trump's newly announced 25% tariff on most Canadian imports. 
Ontario Premier Doug Ford announced on Monday that he is canceling a CA$100 million (US$68 million) contract with Elon Musk's Starlink, in direct retaliation to President Donald Trump's newly announced 25% tariff on most Canadian imports. -
Apple’s iPhone Sales Miss Expectations as China Revenue Declines 11%
Apple reported a record-breaking $124.3 billion in revenue for the holiday quarter, marking a 4% year-over-year increase. However, the company fell short of Wall Street's expectations for iPhone sales and experienced a significant 11.1% drop in revenue from Greater China, its largest decline in the region in over a year. 
Apple reported a record-breaking $124.3 billion in revenue for the holiday quarter, marking a 4% year-over-year increase. However, the company fell short of Wall Street's expectations for iPhone sales and experienced a significant 11.1% drop in revenue from Greater China, its largest decline in the region in over a year. -
ASML Stock Jumps After Earnings Beat, CEO Sees AI Boom Fueling Demand
Shares of ASML Holding NV surged in premarket trading Wednesday after the Dutch semiconductor equipment giant reported stronger-than-expected fourth-quarter earnings, defying concerns that China's DeepSeek AI breakthrough could curb demand for artificial intelligence chips. 
Shares of ASML Holding NV surged in premarket trading Wednesday after the Dutch semiconductor equipment giant reported stronger-than-expected fourth-quarter earnings, defying concerns that China's DeepSeek AI breakthrough could curb demand for artificial intelligence chips.
