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Alibaba-backed Xreal launches augmented reality glasses with new chip as Meta rivalry heats up
The Xreal One Series features the X1 chip which is the company’s first self-designed processor for its glasses. Xreal Xreal on Wednesday launched its latest generation of augmented reality (AR) glasses as it looks to fend off competition from the likes of Meta and Snap. The company, which is backed by Chinese e-commerce giant Alibaba, […]
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Wall Street is gearing up for an M&A boom under Trump. These companies could be attractive targets
Wall Street is cheering a potential revival of mergers and acquisitions when the new Trump administration takes office, and bankers and investors alike are already trying to find out what deals could be coming first. The combination of rate hikes from the Federal Reserve and an aggressive antitrust approach, embodied by Federal Trade Commission Chair […]
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Silicon Valley’s General Catalyst makes first investment into Saudi Arabia through fintech Lean Technologies
Silicon Valley venture capital firm General Catalyst has made its first investment in Saudi Arabia through fintech startup Lean Technologies, which just closed a Series B round worth $67.5 million. General Catalyst has $30 billion in assets under management and has backed major U.S. tech companies like Snap, Stripe and AirBnb. Lean Technologies’ fundraising round also […]
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Pinterest stock plunges following weak Q4 revenue guidance
Bill Ready, CEO of Pinterest, rings the opening bell at the New York Stock Exchange on May 15, 2024. Brendan McDermid | Reuters Pinterest shares plunged as much as 15% on Thursday after the social media company provided soft guidance for its fourth-quarter revenue despite beating on the top and bottom lines with its third-quarter […]
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As Americans head to the polls, social media companies are in the spotlight
Kamala Harris and Donald J. Trump social media sites on X, formerly known as Twitter, are displayed on mobile phones screens for illustration photo. Beata Zawrzel | Nurphoto | Getty Images With Americans heading to the polls on Election Day, social media companies like Meta, TikTok, X and YouTube are under intense pressure to handle […]
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Amazon shares jump 7%, approach record after earnings beat
Amazon CEO Andy Jassy speaks at the Bloomberg Technology Summit in San Francisco on June 8, 2022. David Paul Morris | Bloomberg | Getty Images Amazon shares jumped 7% on Friday and neared an all-time high after the company reported better-than-expected earnings, driven by growth in its cloud computing and advertising businesses. The stock is […]
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Amazon’s advertising business grew 19% in the third quarter
Dominika Zarzycka | Nurphoto | Getty Images Amazon’s online advertising business brought in $14.3 billion in the third quarter, up 19% year over year, in line with analysts’ estimates of $14.3 billion. The Seattle tech giant revealed the financial results of its growing advertising unit as part of its latest earnings report Thursday. Amazon’s overall […]
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Stocks making the biggest moves midday: Reddit, Super Micro Computer, Garmin, Snap and more
Check out the companies making headlines in midday trading. Reddit – Shares soared 41% after the social media company reported a blockbuster third-quarter report . Reddit reported earnings of 16 cents per share, while analysts surveyed by LSEG had expected a loss of 7 cents. The company’s $348.4 million revenue also exceeded consensus estimates of […]
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Meta set to report Q3 earnings after the bell
Mark Zuckerberg, chief executive officer of Meta Platforms Inc., arrives for the Meta Connect event in Menlo Park, California, US, on Wednesday, Sept. 25, 2024. David Paul Morris | Bloomberg | Getty Images Meta is slated to report third-quarter earnings on Wednesday after the close of regular trading. Here’s what analysts polled by LSEG are […]
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Stocks making the biggest moves premarket: Eli Lilly, Caterpillar, VinFast, Alphabet and more
Check out the companies making headlines in premarket trading. Eli Lilly — The drug maker tumbled 7.5% after missing analyst expectations for the third quarter and cutting full-year guidance. Eli Lilly earned $1.18 per share, excluding items, on $11.44 billion in revenue. Analysts polled by LSEG had anticipated earnings of $1.47 a share and $12.11 […]
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