Cisco to Cut Over 4,000 Jobs, Redirecting Investments Towards Artificial Intelligence
Company
Earnings Typo Error Sends Lyft Stock on Wild Ride, Questions Raised
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JetBlue Shares Soar After Carl Icahn Discloses Stake
"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. -
Diamondback Energy's $26B Acquisition to Create a New Global Oil Giant Valued at over $50B
"Diamondback Energy, an American shale oil and gas producer, has announced a colossal acquisition that could give birth to a new global oil behemoth.
The Latest
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Reddit Shares Soar After Strategic AI Partnership with OpenAI
Shares of Reddit (NYSE: RDDT) surged by 14% on Friday, buoyed by the announcement of a strategic partnership with OpenAI, a leading artificial intelligence firm. This alliance is expected to enhance the user experience on Reddit's platform through AI-driven features, while also attracting more advertising revenue. 
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Alibaba Shares Soar Over 7% as Former Short-Seller Citron Research Predicts Over 20% Rise
On May 16, Alibaba's shares listed in the U.S. opened up 1.2% and increased throughout the morning. By midday, the shares had soared over 7%, peaking at a 7.5% gain and maintained around a 7% increase, potentially setting a new closing high since November 15, 2023. 
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GameStop and AMC Shares Plummet further After Roaring Kitty's Brief Return
GameStop and AMC, two iconic meme stocks that captivated retail investors during the 2021 frenzy, saw their shares tumble again on Thursday, marking the second consecutive day of declines. The brief surge earlier in the week, fueled by the return of Keith Gill, known as "Roaring Kitty," quickly lost momentum, leaving investors to reassess their positions. 
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Resilient Walmart Reports Strong Q1 Earnings as Consumers Seek Low Prices
Walmart Inc., the nation's largest retailer, reported robust first-quarter earnings on Thursday, showcasing its resilience in a high-inflation environment. The retailer's performance was driven by consumers increasingly seeking low prices, propelling Walmart's stock up over 5% in premarket trading. 
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GameStop and AMC Shares Tumble as Meme Stock Rally Loses Steam
The recent resurgence of meme stock fervor, sparked by the reemergence of Keith Gill, known online as "Roaring Kitty," on X (formerly Twitter), appears to be short-lived as shares of GameStop, AMC Entertainment, and other popular meme stocks declined on Wednesday morning. 
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DOJ Accuses Boeing of Violating 2021 Agreement, Considers Criminal Prosecution Over 737 Max Crashes
The Department of Justice (DOJ) has informed a federal judge that Boeing may have violated a 2021 agreement that shielded the company from criminal prosecution following two deadly 737 Max crashes overseas, which claimed the lives of 346 people. 
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GameStop and AMC Soar Amid 'Roaring Kitty' Return, but Experts Doubt Meme Stock Rally's Sustainability
GameStop (GME) and AMC (AMC) shares have skyrocketed once again, with both stocks more than doubling in value over the past week. The surge in these meme stocks has been attributed to the reemergence of Keith Gill, also known as "Roaring Kitty," whose bullish stance on GameStop ignited the 2021 meme stock rally. However, Wall Street strategists caution that this recent burst of enthusiasm is unlikely to match the intensity of the 2021 mania. -
Walmart Cuts Hundreds of Corporate Jobs, Relocates Remote Workers to Main Offices
Walmart, the world's largest retailer, announced significant changes to its corporate workforce on Tuesday, revealing plans to cut hundreds of jobs and relocate many remote employees to larger office hubs. The move, outlined by Chief People Officer Donna Morris in a memo to employees, aims to enhance collaboration, innovation, and operational efficiency. 
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AMC Raises $250 Million Amid Meme Stock Surge, Stocks Skyrocket
AMC Entertainment Holdings successfully raised $250 million in new equity capital amid a revived meme stock rally, completing the sale on Monday. The movie theater chain sold 72.5 million shares in an at-the-market offering, launched on March 28, at an average price of $3.45 per share. The news of the stock sale sent AMC shares soaring another 110% in morning trading on Tuesday. 
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Alibaba's Profit Plunges 86% Despite Revenue Beat Amid Strategic Overhaul, Shares Drop
Alibaba Group Holding Ltd. reported a significant 86% decline in net profit for its fiscal fourth quarter, sending its shares down by 5% in premarket trading on Tuesday. 
