A view of clouds over Manhattan skyline in New York, United States on August 08, 2023. (Photo by Fatih Aktas/Anadolu Agency via Getty Images)Anadolu Agency | Anadolu Agency | Getty ImagesManhattan rents fell for the first time in over two years, as the supply of empty apartments grew and...
A Cruise self-driving car, which is owned by General Motors, is seen outside the company's headquarters in San Francisco.Heather Somerville | ReutersGeneral Motors' Cruise autonomous vehicle unit has dismissed nine "key leaders" amid ongoing safety investigations sparked by an October accident in San Francisco, according to an internal message...
Adobe CEO Shantanu Narayen.Linda Dimyan | CNBCAdobe shares dropped more than 6% in extended trading Wednesday after the software maker posted a lighter-than-expected forecast for 2024.Here's how the company did, compared to consensus estimates from LSEG, formerly known as Refinitiv:Earnings per share: $4.27, adjusted vs. $4.14 expectedRevenue: $5.05 billion...
Federal Reserve Board Chairman Jerome Powell answers a question during a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy at the Federal Reserve in Washington, November 1, 2023.Kevin Lamarque | ReutersThe Federal Reserve dialed back its inflation projections on Wednesday,...
A sign hangs in front of the world headquarters of Vertex Pharmaceuticals in Boston on Oct. 23, 2019.Brian Snyder | ReutersShares of Vertex Pharmaceuticals jumped Wednesday after the company's painkiller, which is being tested as an alternative to opioids, significantly decreased pain in a midstage trial.Those positive results for...
Check out the companies making headlines in midday trading. Etsy — Etsy's stock sank 5% after the e-commerce company said it's laying off 11% of its workforce , or about 225 employees, as it deals with a difficult macro and competitive environment. The e-commerce marketplace also updated its fourth-quarter...
SpaceX's next-generation Starship spacecraft atop its powerful Super Heavy rocket is launched from the company's Boca Chica launchpad on an uncrewed test flight, near Brownsville, Texas, U.S. November 18, 2023. Joe Skipper | ReutersThe valuation of Elon Musk's SpaceX hit $180 billion based on an ongoing secondary share sale, CNBC confirmed Wednesday.The...
Etsy is laying off 11% of its workforce at the height of the holiday season as the e-commerce giant looks to restructure its business and streamline costs against a "very challenging" macro and competitive environment, the company announced on Wednesday. Approximately 225 employees will be cut from Etsy's workforce, which...
Shares of Pfizer fell Wednesday after the drugmaker forecast 2024 revenue and profit below Wall Street's expectations, as it sees weak demand for its once-blockbuster Covid products. Pfizer also raised the target of its sweeping cost-cutting plan by $500 million, bringing the anticipated total to $4 billion.The company expects 2024...
Wholesale prices were flat in November, providing a leading indicator that inflation is easing, the Labor Department reported Wednesday.The producer price index, which measures a broad range of prices on final demand items, was unchanged for the month, following a 0.4% decrease in October but less than the Dow...