Tag: Business

Stock exchange

Snowflake stock drops after sales forecast that CFO admits is ‘conservative’

Shares of Snowflake Inc. fell more than 5% in after-hours trading Wednesday, when the data-software company’s executives announced quarterly revenue that topped expectations but came up shy with their fourth-quarter sales outlook. Revenue increased to $557 million from $334 million in the third quarter, whereas analysts were modeling $540 million. Snowflake SNOW, +4.64% reported $523 […]

business

Elon Musk And The Confessions Of An Ayn Rand Reader

GRUENHEIDE, GERMANY – MARCH 22: (Alternate crop of #1239417601) Tesla CEO Elon Musk contemplates during the official opening of the new Tesla electric car manufacturing plant on March 22, 2022 near Gruenheide, Germany. The new plant, officially called the Gigafactory Berlin-Brandenburg, is producing the Model Y as well as electric car batteries. (Photo by Christian […]

Stock exchange

TikTok CEO offers reassurances over data privacy

TikTok Chief Executive Shou Chew said the video-sharing platform is taking greater steps to keep user data secure and that it needs to invest more in protecting young people from getting exposed to harmful content. “We have very rigorous data-access protocols,” he said at the New York Times’s Dealbook Summit in New York on Wednesday, adding that […]

business

Powell Signals Downshift Likely Next Month, More Hikes to Come

Jerome Powell, chairman of the US Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, Nov. 2, 2022. Federal Reserve officials delivered their fourth straight 75 basis-point interest rate increase while also signaling their aggressive campaign to curb inflation could be approaching its […]

Stock exchange

Dow rises 250 points after Powell signals smaller interest-rate hikes ahead

U.S. stocks rose in afternoon trading on Wednesday after Federal Reserve Chairman Powell said the central bank’s pace of interest-rate increases can slow as soon as its December meeting, while investors digested a round of economic data, including a weaker-than-expected reading on private-sector payrolls and an upward revision to third-quarter economic growth. How are stocks […]