Elon Musk Offloads Additional $687 Million Worth of Tesla Shares
(Reuters) Tesla CEO Elon Musk has sold about $687 million worth of the company’s stock, days after selling another $5 billion. The share sale was made on November 11 through…
Coupang’s Q3 Net Revenue Jumps by 48% as Ad Earnings Almost Triples
(Coupang) Coupang Inc. registered total revenues of $4.6 billion in the third quarter of 2021, a jump of 48% from the prior year. The company’s advertising revenue almost tripled from…
Xpeng Jumps 10% on Prospects of a Debut of New Sports Utility Vehicle Next Week
(CNBC) Shares of Chinese electric maker Xpeng rose more than 10% in Hong Kong on Friday after the company teased a new sports utility vehicle. The utility vehicle, set to…
Toshiba Aims to Split Into 3 Entities Amid Investor Discord
(FT) Conglomerate Toshiba Corporation is planning to split the company into three entities and shelving calls to take the whole company private. Upon split, one division will hold the company’s…
Evergrande Lifts Chinese Property Stocks After Settling a Last-Minute Bond
(Reuters) Chinese property developer Evergrande Group has reportedly paid several bondholders everting a looming default on overdue coupons. The paid coupons relate to three bond tranches worth at least $148…
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.…
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…
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…
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