Jaw-dropping layoff announcements from giant tech names Amazon (AMZN) and Salesforce (CRM) to kick off 2023 may not make their battered stocks great buys just yet. “I think we go through this round of quarterly earnings reports and hopefully companies guide very ugly because it’s in their benefit to do so for next year,” veteran tech watcher Paul Meeks explained on Yahoo Finance Live (video above). “So they announce their blood-letting, whether it being operational costs including trimming… Source link
Read More »Tech Giant Yandex, Battered By Wartime Censorship, Reorganizes, Will Leave Russia
Russian tech giant Yandex has said it is reorganizing its operations, moving to cut its ties with Russia in a restructuring that solidifies government control over a company once seen as a bellwether for the country’s digital economy. The announcement comes after months of internal turmoil, with executives departing, the sale of the two of the company’s best-known products, and company shares hitting basement prices prior to being frozen on international stock exchanges. “These are… Source link
Read More »Tech Giant Yandex, Battered By Wartime Censorship, Reorganizes, Moves To Leave Russia
Russian tech giant Yandex has said it is reorganizing its operations, moving to cut its ties with Russia in a restructuring that solidifies government control over a company once seen as a bellwether for the country’s digital economy. The announcement comes after months of internal turmoil, with executives departing, the sale of the two of the company’s best-known products, and company shares hitting basement prices prior to being frozen on international stock exchanges. “These are… Source link
Read More »Planet Fitness CEO flexes on 0 gym closures as pandemic battered industry
It has been a long and winding road during the pandemic for gym chain giant Planet Fitness, and its efforts to get through to the other side of the health mess shows. “I am extremely happy to say we lost no gyms in the pandemic. The industry lost 22% of the gyms open, closed permanently. We lost none,” Planet Fitness CEO Chris Rondeau said on Yahoo Finance Live. Planet Fitness currently operates 2,254 locations in the District of Columbia, Puerto Rico, Canada, Panama, Mexico and… Source link
Read More »Here’s the next shoe to probably drop on battered investors
Lordstown Motors (RIDE) looks like one hot uninvestable mess right now, plainly put. But the rollercoaster of a ride for beleaguered investors (what is left of them, anyway) is likely far from over. Lordstown Motors said Monday that CEO and founder Steve Burns and CFO Julio Rodriguez have resigned. Angela Strand — its lead independent director — will assume the CEO position until a permanent leader is found. Becky Roof — an outside hire with extensive finance function experience —… Source link
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