Beyond Meat Widens Losses in Q3 2021. Stock Tumbles 18%
(Beyond Meat) Shares of Beyond Meat fell more than 18% on Thursday premarket trading after third-quarter net loss widened to $54.8 million from $19.3 million in the prior year. Depressed…
Elon Musk Sells $5 Billion Worth of Tesla Stock
(Reuters) Tesla CEO Elon Musk has sold shares worth almost $5 billion in the company, days after fans urged him to unload 10% of his holding via a Twitter poll.…
Bitcoin Touches ATH of Almost $69,000 as US Inflation Jump Fuels Cost Concerns
Bitcoin rose 1.9% to a record $68,991 as US consumer prices rose at the fastest annual rate since November 1990. Bitcoin’s surge on high inflation in the US reflects the…
Meta’s Workplace to Integrate With Microsoft’s Teams in New Partnership
(CNBC) Meta has agreed to integrate its Workplace enterprise social network software with rival’s Microsoft Teams. The integration is expected to give users access to Workplace content inside the Teams…
Tencent Revenue Growth Hits 17-Year Low on Regulatory Crackdown
(Reuters) Chinese tech giant Tencent Holdings posted a 17-year low revenue growth due to the ongoing regulatory crackdown in the country. Tencent’s top line grew 13% to 142.4 billion yuan…
US Annual Consumer Prices Rise the Highest in Almost 31 Years in October
(BLS) US posted a 6.2% increase in Consumer Price Index over the 12 months that ended in October, the biggest jump since November 1990. On a monthly basis, consumer prices…
EU Court Upholds $2.8 Billion Antitrust Fine Against Google
(CNBC) The EU’s General Court has ruled in favor of the European Commission in a contested antitrust fine of 2.42 billion euros or $2.8 billion by search giant Google. The…
Rivian Automotive Prices IPO at $78 a Share, Above Previous Raised Target
(Bloomberg) Rivian Automotive Inc. is expected to debut its IPO at $78 per share, which is above the raised target of $72 to $74 apiece announced on Friday last week.…
Coinbase Tanks Almost 15% as Q3 2021 Revenues Disappoint, Active Users Fall
(Coinbase) Shares of Coinbase fell almost 15% on Tuesday after-hours trading after its third-quarter revenue of $1.31 billion missed expected $1.58 billion. The revenue was more than 300% increase from…
DoorDash Jumps After a €7B Deal to Buy Finnish Delivery Firm Wolt
(FT) Delivery firm DoorDash rose about 20% in premarket trading on Wednesday on news it will acquire Finnish delivery operator Wolt for 7 billion euros. DoorDash expects the deal to…
China’s Producer Prices Hits a 26-Year High Fueling Stagflation Concerns
(NBS) Factory gate inflation in China rose 13.5% in October from the prior year, the highest since July 1995 and higher than forecasted 12.4%. On a monthly basis, the producer…
US PPI Jumps 0.6% in October as Final Demand Goods Prices Soar the Most
(Bureau of Labor Statistics) US posted a 0.6% increase in the Producer Price Index in October, a further rise after a 0.5% jump in September, but below 0.7% in August.…
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