Meal kit makers Blue Apron announced in an SEC filing on Wednesday that the company is laying off 6% of its employees, or approximately 300 people. The layoffs hit salaried employees hardest, and affected few shift workers in the company’s warehouses, according to two sources with direct knowledge — one current and one laid-off employee. […]
Read moreMore than 40 lawmakers urged President Donald Trump’s administration on Wednesday to reimpose U.S. travel bans on Myanmar’s military leaders and prepare targeted sanctions against those responsible for a crackdown on the country’s Rohingya Muslim minority. In a letter sent to U.S. Secretary of State Rex Tillerson, a group of Republican and Democratic members of […]
Read moreIf you ask CNBC’s Jim Cramer, Johnson & Johnson’s earnings report and subsequent rally settled the bull-bear divide that has plagued its stock recently. “First, though, let’s talk about why the stock became so contentious. Part of it simply comes down to the fact that, even though JNJ is an incredibly well-run company that’s in […]
Read moreCNBC’s Jim Cramer finds that the defining thing about the FANG stocks, his acronym for Facebook, Amazon, Netflix and Google, now Alphabet, is that they are always “in motion.” “Whether it be the imminent decision by Amazon to go into drug stores — those stocks indicate a very near-term threat — or the multiple price […]
Read moreBTIG analysts halved their estimates for Snap’s 2020 revenue and apologized this week for not telling clients to sell Snap shares sooner. “With the stock down 28 [percent] in the past six months since our initiation at Neutral, we were wrong to not have a SELL rating,” the BTIG analysts wrote. “[G]iven a complete lack […]
Read moreAfter IBM’s better-than-expected earnings report fueled the stock’s biggest jump in eight years, CFO Martin Schroeter told CNBC that a weaker U.S. dollar could be a continual driver for IBM. “We now have, for the first time in probably five years, a good tailwind in terms of the dollar,” Schroeter told “Mad Money” host Jim […]
Read moreU.S. Treasury Secretary Steven Mnuchin may have cautioned that the stock market will drop if tax reform is not passed, but CNBC’s Jim Cramer isn’t buying it. “Look, I appreciate [that] he’s trying to get Congress motivated, but just on the facts, I think he’s quite wrong. The truth is, most executives don’t believe tax […]
Read moreAmazon will close the bidding process for its second headquarters on Thursday. The bidding, which was announced in early September, has set off a frenzy across the country, drawing interest from big cities like New York and Chicago to small regions like Lehigh Valley, Pennsylvania. Although we don’t know exactly which cities have officially submitted […]
Read moreBlue Apron on Wednesday said it cut about 6 percent of its workforce, nearly four months after the meal-kit company went public. In a letter sent to employees, CEO Matt Salzberg said the decision stemmed from a roadmapping and reprioritization exercise the company recently undertook. Leadership decided it needed to reduce roles, open others and […]
Read moreAmazon is spreading itself too thin, Patrick Moorhead, president and principal analyst at Moor Insights and Strategy, told CNBC on Wednesday. The e-commerce giant creates technology from e-readers to smart speakers, produces original TV and movie content, dabbles in self-driving cars, and delivers alcohol, groceries and products from third-party sellers on its platform. The company […]
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