Tag: technology

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 […]

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

Stocks that top tech investor Paul Meeks is buying

It has been a rough year for the tech sector, as investors pulled out of growth stocks such as tech amid soaring inflation, interest rate hikes and other headwinds that have left investors clamoring for safer bets. The tech-heavy Nasdaq Composite is down around 30% this year. That’s worse than the broad-based S & P 500 , […]

business

‘I’ve had a bad month, ‘didn’t ever try to commit fraud:’ Former FTX CEO Sam Bankman-Fried

Striking a contrite tone, former FTX CEO Sam Bankman-Fried said he “didn’t do a good job” at upholding his responsibilities to regulators, customers, and investors in a hotly anticipated conversation with CNBC’s Andrew Ross Sorkin at the Dealbook Summit. “I didn’t ever try to commit fraud on anyone,” Bankman-Fried said. “I saw it as a […]

business

Amazon touts record sales over holiday shopping weekend

An Amazon worker moves a cart filled with packages at an Amazon delivery station on November 28, 2022 in Alpharetta, Georgia. Justin Sullivan | Getty Images Amazon said Wednesday it rang up record-breaking sales in the five-day period beginning Thanksgiving Day and ending on Cyber Monday, adding to what has been a strong showing for […]

business

XPeng (XPEV) Q3 earnings: Revenue, profit miss expectations

XPeng has been dealing with rising material costs, which forced the company to hike the price of its cars earlier this year. Chen Yihang | Visual China Group | Getty Images Chinese electric carmaker XPeng posted a wider than expected loss and its revenue fell short of expectations — thanks to rising competition and a […]