Big Blue has reportedly begun the workforce reductions it said in April it would make. IBM (IBM) has said it would spend $1 bil on the reductions, which target employees at all levels, including line workers as well as executives. IBM announced the cuts after its Q1 profit of $3 per share missed analysts' $3.05 target. IBM will likely cut 6,000-8,000 jobs, about 2% of its workforce, Oracle Investment Research told Bloomberg. IBM shares fell 1.4% to 201.20 .
In response to California's new $20 minimum wage law, fast food franchises are being forced to rethink their business strategies to stay afloat. Scott Rodrick, who owns 18 McDonald's franchises in the state, is considering measures to manage the increased labor costs without resorting to layoffs, which he sees as a last resort. Don't Miss: 82% of Americans aren’t using this government secured 5% passive income stream, are you one of them? The average American couple has saved this much money for
A Reuters review of hundreds of tender documents shows 10 Chinese entities acquired advanced Nvidia chips embedded in server products made by Super Micro Computer Inc., Dell Technologies Inc. and Taiwan's Gigabyte Technology Co Ltd after the U.S. on Nov. 17 expanded the embargo to subject more chips and countries to licensing rules. Specifically, the servers contained some of Nvidia's most advanced chips, according to the previously unreported tenders fulfilled between Nov. 20 and Feb. 28.
Sam Bankman-Fried has inked a settlement agreement with a group of FTX customers who have agreed to drop their class action lawsuit against him in exchange for his help going after celebrity promoters of the collapsed exchange.
Though this highflying stock is making Nancy Pelosi and her venture capitalist husband richer, more than a half-dozen billionaires have sent it to the chopping block.
Bank of America said Apple could announce a 5% dividend increase and $90 billion share buyback program when it releases earnings next week.
Six of the largest tech companies are expected to see earnings growth slow over the next year, leaving room for other companies to lead the next leg of the stock market rally, UBS analysts say.
AI stocks have soared over the last year, but these two could be at risk of a sell-off.
Among Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta Platforms, and Tesla, there are two former highfliers that are no longer magnificent.
The "Magnificent Seven" garner a lot of hype in artificial intelligence (AI). But one company sticks out thanks to savvy investments and strong financials.
Not only are these stocks great for income, but they can be more exciting investments than you think.