Technology
Bitcoin miner Main Scientific troubles personal bankruptcy warning and the stock is down 97% for the 12 months
An array of bitcoin mining models inside of a container at a Cleanspark facility in Faculty Park, Georgia, U.S., on Friday, April 22, 2022. Elijah Nouvelage | Bloomberg | Getty Photos Main Scientific, one of the largest publicly traded crypto mining businesses in the U.S., elevated the probability of personal bankruptcy in a statement submitted […]
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Amazon will open up 172,000-sq.-foot Kuiper internet satellite manufacturing facility
Rendering of a United Launch Alliance’ Atlas V rocket carrying Amazon satellites. ULA/Amazon Amazon explained on Thursday it will open up a new plant in a Seattle suburb to make satellites for Venture Kuiper. Job Kuiper, unveiled in 2019, is Amazon’s program to build a community of 3,236 satellites in lower Earth orbit to deliver […]
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Fb used to be a Huge Tech large — now Meta is just not even in the prime 20 most useful U.S. providers
Mark Zuckerberg for the duration of Metaverse conversation on CNBC Supply: CNBC Sixteen months after Facebook crossed $1 trillion in marketplace cap, signing up for an distinctive club consisting of Apple, Microsoft, Alphabet and Amazon, its guardian enterprise Meta is really worth significantly less than Household Depot and scarcely additional than Pfizer and Coca-Cola. Far […]
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Shopify shares pop 18% on scaled-down-than-predicted decline
Shares of Shopify jumped 18% after the e-commerce firm documented earnings that beat Wall Street’s income estimates and a narrower-than-predicted reduction for the 3rd quarter. Reduction for every share: decline of $.02, adjusted, vs. loss of .07 envisioned by analysts according to Refinitiv. Revenue: $1.37 billion vs $1.33 billion anticipated, according to Refinitiv. Income was […]
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Not a good buy: Rent the Runway, exactly one-year after IPO, is down nearly 90%
While Rent The Runway closed its retail stores due to the pandemic, it still has a network of drop-off locations in major cities, including New York. Shannon Stapleton | Reuters In this weekly series, CNBC takes a look at companies that made the inaugural Disruptor 50 list, 10 years later. More than 50% of clothing […]
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Twitter ‘cannot turn into a cost-free-for-all hellscape,’ Musk tells advertisers
On the eve of his deadline to purchase Twitter to steer clear of a new courtroom date, billionaire Elon Musk sought to assure advertisers the system is not going to turn into a put that’s also unsavory to devote their pounds. “Twitter clearly can’t grow to be a totally free-for-all hellscape, where by anything at […]
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Amazon CEO Andy Jassy violated labor regulations with modern union remarks, officials allege
Amazon CEO Andy Jassy speaks with CNBC’s Jon Fortt. CNBC Amazon CEO Andy Jassy violated federal labor legal guidelines when he remarked in latest interviews about how workforce could be negatively impacted by unions, a federal labor agency reported. In a criticism late Wednesday, the Countrywide Labor Relations Board pointed to opinions Jassy manufactured in […]
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The greatest tech shares have misplaced $3 trillion in industry cap over the last year
FAANG shares exhibited at the Nasdaq. Adam Jeffery | CNBC So this is a superior trivia dilemma: Of the “FAANG” megacap tech shares, which has lost the most current market worth about the past calendar year? Amid the earnings-associated bloodbath so far this week, there have been massive losses. Alphabet, Microsoft and Meta have presently […]
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Morgan Stanley downgrades Meta after earnings miss, says higher spending will hurt the stock
Meta’s latest quarterly earnings results should give investors pause, according to Morgan Stanley. Analyst Brian Nowak downgraded shares of Meta to equal weight from overweight and roughly halved his price target on the social media stock, citing higher capital expenditures and lower free cash flow from the company. “We see META’s $69bn of capex over […]
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Wall Street analysts are worried about Meta as it plans to spend even more money on the metaverse
Meta ‘s third-quarter results have Wall Street analysts split on the struggling tech stock. Shares of Meta plunged 23% in Thursday premarket trading after the social media company reported an earnings miss and issued a weaker-than-expected forecast for the fourth quarter. The tech stock is already down more than 60% year to date as the […]
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