Tag Archives: company

Alphabet, Google’s parent company, briefly hit a market cap of $2 trillion. The tech behemoth’s market cap is currently at a comfortable $1.98 trillion, but crept over the $2 trillion mark midday Monday, later closing out at $2,987.03 per share. Alphabet’s market cap has just about doubled from $1 trillion since January 2020. In the third quarter of 2021, Alphabet had a record quarter, earning a hefty $65.1 billion. The company reported that its revenue soared by 41 percent, while… Source link

Google’s parent company, Alphabet, is launching an operation dedicated to drug discovery. The new company, called Isomorphic Labs, will build on recent research from DeepMind, a London-based artificial intelligence lab also owned and operated by Alphabet. Demis Hassabis, the co-founder and chief executive of DeepMind, will also serve as chief executive of Isomorphic Labs as it maps out its technical strategy and hires its first employees. Isomorphic and DeepMind announced the creation of the… Source link

WATCH 1:44 | Nov 02, 2021, 11:32am EDT Yahoo is the second U.S. tech giant in weeks to pull out of China, symbolically ending its services in the world’s second-biggest economy after years of winding down because of an “increasingly challenging business and legal environment.” Source link

Supply chain issues may be keeping many Americans up — literally — due to backlogs experienced by the world’s largest bedding provider. “We’re seeing it a little bit in trucking, obviously the shipping, a little bit in the component issues, primarily chemicals, … it’s getting better, but it continues to be a challenge,” Scott Thompson, chairman, president, and CEO of Tempur Sealy, told Yahoo Finance Live (video above). “And we think we’ll be working through supply issues probably here… Source link

It’s been a huge week for Tesla (TSLA).  Shares jumped to new highs as the market cap of the pure-play electric vehicle maker topped $1 trillion for the first time, making it the 5th most valuable company in the S&P 500 (^GSPC) — and sending Elon Musk’s personal fortune north of $300 billion. A huge deal with Hertz buying 100,000 Teslas for its rental fleet, and a big bullish note from Morgan Stanley analyst Adam Jonas had shares jumping. But it also follows a big earnings report in the… Source link

Apple (AAPL) is no longer the most valuable publicly traded company in the world. After a disappointing earnings report marred by the impact of the global chip shortage, Apple’s stock fell more than 2% Friday, putting it $10 billion behind the new top dog, longtime nemesis Microsoft (MSFT). Yes, Microsoft is still a massive player in the PC space. And that sector has been hurt by the shortage. But investors see the company more as a cloud play. And that segment has been growing at a rapid… Source link

Check out what’s clicking on FoxBusiness.com. A continued rebound in digital ad spending at Google drove its parent company’s profit up 68% in the third quarter. Mountain View, California-based Alphabet Inc. said Tuesday that it earned $18.94 billion, or $27.99 per share, in the July-September period. Revenue rose 41% to $65.12 billion. GET FOX BUSINESS ON THE GO BY CLICKING HERE Analysts polled by FactSet expected earnings of $23.73 per share on revenue of $63.53 billion. Shares… Source link

Bank of America (BAC) CEO Brian Moynihan sees his firm not only as a legacy bank, but as a financial technology company on the cutting edge of digital innovation.  “We’re clearly a technology company,” Moynihan said at Yahoo Finance’s All Markets Summit on Monday. “We spend about $3.5 billion a year on new code implementation. New products and services are driven by technology.”  Digital payments have been a key component of Bank of America’s business, and have comprised a sizable proportion… Source link

Jeff Bezos, Amazon’s founder. Alex Wong/Getty Images An Amazon worker on leave emailed Jeff Bezos to say she’d been underpaid, The New York Times said. A subsequent investigation found that Amazon was systematically underpaying some workers on leave. A spokesperson told The Times that Amazon was still identifying underpaid workers. An email sent to Jeff Bezos from an Amazon worker who was on leave triggered an internal investigation that exposed flaws with the company’s payroll system, The New… Source link

For the moment, investors seem wildly optimistic about the new media company Donald Trump is forming. Shares of little-known Digital World Acquisition Corp. (DWAC) soared 350% in one day after the shell company said it was merging with a new Trump entity aiming to build a social-media platform, a streaming operation and more. That could be the peak, however. Trump obviously has a massive following, but it’s important to keep in mind that Trump’s popularity comes from his combativeness. He… Source link