Volvo Stocks Surges 22% to a Market Cap of $23B in an IPO
(FT) Volvo Car shares rose 22.1% after an initial public offer to a market capitalization of about $23 billion from $18 billion. The new capitalization missed an earlier estimate of…
Facebook Rebrands to Meta as it Eyes New Ambitions in AR and VR
(Meta) Facebook has announced a change of its name to Meta in its push to an avatar-filled virtual world or metaverse. CEO Mark Zuckerberg says Facebook represents an iconic social…
Amazon Downgrades Guidance as Net Income Almost Halves in the Third Quarter
(Amazon) Amazon Inc. reported a net income of $3.2 billion in the third quarter of 2021, down from $6.3 billion in the comparable quarter of 2020. In the nine months…
Apple’s Revenue Jumps 29% In Q4. Sales Miss Expectations
(Apple) Apple Inc. announced an increase in revenue to $ 83.4 billion in the fourth quarter of the 2021 fiscal year from $64.7 billion reported in the same period of…
Google and Twitter Leads Tech Companies Seeking to Boost Diversity in Silicon Valley
(Bloomberg) Google, Twitter Inc., and Snap Inc are among other major tech firms joining hands in push for more workplace diversity in Silicon Valley. The firms announced the Catalyze Tech…
Airbus Updates Guidance as Revenue Climbs 17% in 9 Months of 2021
(Airbus) Airbus SE reported revenues of 35.2 billion euros in the nine-month period of 2021, up by 17% from the comparable period of 2020. Revenues in the third quarter dropped…
Third Point Heaps Pressure on Shell to Split to Retain Investors
(WSJ) Third Point LLC is urging Royal Dutch Shell PLC to split into two companies to attract and retain investors dumping the stock on environmental concerns. Third Point, which now…
Uber Enters Into a Car Rental Deal With Hertz to Offer up to 50,000 Tesla EVs
(Uber) Uber drivers in the US will have access to 50,000 fully electric Tesla vehicles by 2023 after the ride-sharing giant entered into a rental deal with Hertz. Uber’s deal…
Apple Glass Could Soon Skip Tiny Screens as iPhone Giant Embarks on Research
(Apple Insider) Apple is researching how its future AR devices, including Apple Glass, can skip tiny screens and use micro projectors to send images directly into the person’s retina. Apple’s…
Robinhood Stock Plunges to Its IPO Price as Q3 2021 Crypto Revenues Disappoint
(Robinhood) Robinhood Markets Inc.'s shares fell more than 10% on Wednesday to trade at around its July $38 IPO price after its crypto revenue fell 78% to $51 million in…
Facebook Project a $10B Profit Hit on Metaverse Exploits This Year
(Business Insider) Social media giant Facebook is expecting its investment into the Reality Labs project to cut its profit by about $10 billion this year. Facebook says it believes in…
GM to Accelerate EV Infrastructure With 40,000 Charging Points in US and Canada
(Reuters) General Motors is targeting up to 40,000 charging stations as it seeks to accelerate its electric vehicle infrastructure in the US and Canada. GM said it aims to expand…
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