The price of ethereum, a bitcoin rival, fell more than 15.5 percent Wednesday amid a flood of demand and increased worries it may face a divisive debate on how to upgrade its network. Ethereum, also known as ether, traded near $303 Wednesday afternoon, according to CoinDesk. The sharp fall comes after ethereum shot up more […]
Read moreJeff Bezos made his fortune founding Amazon, and spent $250 million of that fortune buying The Washington Post in 2013. After nearly four years running the Post, which Bezos says turned a profit in 2016 and is expected to do the same this year, Bezos has some valuable lessons to pass along to the rest […]
Read moreIn the wake of the resignation by Uber CEO Travis Kalanick and expectations for the company to hold an initial public offering in the near future, Jared Carmel said in an interview Wednesday with CNBC’s “Power Lunch” that it was the right time for the company to have new leadership. Carmel, a managing partner at […]
Read moreOracle shares jumped as much as 9 percent in extended trading on Wednesday after the company beat earnings estimates for the fiscal fourth quarter. EPS: 89 cents vs. 78 cents as expected by analysts, according to Thomson Reuters. This was excluding certain items. Revenue: $10.9 billion vs. $10.5 billion expected by analysts. Revenue for the […]
Read moreUber’s Travis Kalanick resigned as CEO on Tuesday, following a personal tragedy and a string of scandalous allegations at his company. Kalanick had hired the law firm of former U.S. Attorney General Eric Holder to investigate the allegations. In the report released last week, Holder’s team proposed 47 recommendations, including the establishment of a board […]
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Shares of Advanced Micro Devices surged 9 percent Wednesday for their third gain of more than 4 percent in the past three sessions. And AlphaShark’s Andrew Keene says there’s more room to run. The company’s release of details about new processing chip Epyc appears to have substantially excited investors. Meanwhile, from a technical analysis perspective, […]
Read moreJack Ma, founder of Chinese e-commerce behemoth Alibaba, sees serious change on the horizon. In the next 30 years, artificial intelligence will outpace human knowledge, leading to job loss, the billionaire tells CNBC’s David Faber. “The new wave is coming. Jobs will be taken away,” Ma says. “Some people, who catch up [with] the wave, […]
Read moreA leading shareholder advisory firm is buying up environmental data and analytics companies, because its says investors are increasingly concerned about the impact climate change will have on their portfolios. Institutional Shareholder Services said it is buying the investment climate data division of South Pole Group, a Zurich-based environmental advisory firm on Monday. The division, […]
Read moreAlphabet wants to expand its Silicon Valley footprint in a big way after winning the right to negotiate with San Jose, California, for large tracts of land just west of the city’s downtown. If Google buys the parcels, it plans to build a campus of buildings with between 6 million and 8 million square feet […]
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Twitter shares popped Wednesday after a research firm said advertisers gave “more constructive” feedback on the social media company’s strategy. Twitter shares briefly climbed more than 6.5 percent and last traded about 5.4 percent higher around $17.80 a share, on pace for its best day since May 1. Cleveland Research, a boutique equity research firm, […]
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