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Samsung’s shares were up on Thursday after the company posted a “better than feared” earnings guidance for its second quarter. The positive guidance came as chip stocks have seen increased pressure amid supply chain problems and rising inflation that has put a damper on consumer demand. But the South Korean...
According to a senior analyst from Columbia Threadneedle, semiconductors stocks might rebound in the next couple of years. Analyst Dave Egan referred to a contraction of valuation multiples in the S&P 500 SPX and the PHLX Semiconductor Index, or SOX. Thus far in 2022, the SPX has fallen by...
In a recent annual proxy statement filing with the Securities and Exchange Commission, electric vehicle and renewable energy company Tesla unveiled its plans for a 3-for-one stock split. The company also announced that Larry Ellison, a Tesla board member, will resign from his board duties. The company said in the...
Netflix has announced that it is laying off approximately 150 of its staff, just under 2 percent of the streaming service company’s total employee count. The majority of the layoffs will impact its U.S. workers. The reduction in its staff count is occurring just under a month after the company...
During premarket trading, Twitter shares fell by 18 percent after Tesla CEO Elon Musk announced that a deal with Twitter was on hold until he gets more information about the social media company’s fake accounts. Meanwhile, Tesla shares climbed by almost 7 percent during Friday’s premarket trading.  Last month, Musk...
The wireless technology company, Qualcomm, reported elevated earnings on Wednesday for the second quarter. Per its earnings report, all of the I0T company’s major chip markets had grown and smashed analysts’ expectations by the end of the second quarter, which ended in March. The Android chipmaker reported its revenue at...
According to an SEC filing on Monday, Elon Musk recently purchased 9.2 percent of Twitter stock, culminating in a $3 billion stake in the network. The buy positioned Musk as the largest shareholder in the social networking service, and Twitter stock saw its best trading day on Monday since its...
Tesla has reported that its electric vehicle deliveries reached 310,048 in the first quarter of the year. The deliveries fell slightly short of analysts’ expectations. Analysts had predicted 317,000 vehicle deliveries for Tesla during the first three months of 2022. Vehicle deliveries are an estimation of Tesla’s sales numbers. The...
The U.S. Defense Department says that it is planning to award up to $9 billion in cloud infrastructure contracts around December, or about eight months later than it initially expected to do so. The purpose of having multiple contract awards is not to be totally reliant on one. The initiative,...
Google has announced that it plans to acquire Mandiant, a cybersecurity firm founded in 2004, to increase its protection for its cloud customers. If the deal is approved, Google is paying $23 a share, or approximately $5.4 billion, for the publicly-traded firm in a deal expected to close late...