Meta shares soared Wednesday despite an earnings miss, as the Facebook parent company guided for potentially more revenue than Wall Street expected
Earnings Results: Elf Beauty stock rallies 12% on ‘terrific’ quarter
Elf Beauty Inc. stock skyrocked 12% in the extended session Wednesday after the beauty products maker and retailer reported quarterly profit and sales well above Wall Street hopes and raised its outlook for the year.
The Wall Street Journal: Rivian to lay off 6% of workforce in EV maker’s second round of job cuts
Rivian Automotive Inc. plans to initiate another round of layoffs, the latest in the electric-vehicle startup’s efforts to preserve cash as it confronts challenges scaling its business.
: ChatGPT to charge $20 a month for premium subscriptions, as chatbot grows faster than TikTok
Users of ChatGPT will soon be able to subscribe to a premium tier of the buzzy chatbot service, its creator said Wednesday.
The Margin: Dangerous drug-resistant fungal infections tripled in 2021, CDC says
‘The Last of Us’ in real life? While the show is a work of fiction, a growing body of real-world research suggests severe fungal infections are increasing.
Crypto: Bitcoin jumps 3% after Powell says ‘disinflation’ underway
Bitcoin jumps 3% after the Federal Reserve on Wednesday raised its key interest rate by a quarter of a percentage point, but signaled that only “a couple more” rate increases may be needed before the central bank takes a pause on its fight against inflation.
The Ratings Game: Electronic Arts stock logs worst decline of pandemic as ‘rare’ disappointment resets expectations
Shares of Electronic Arts, which avoided the worst of 2022’s tech declines, fall up to 14% as Wall Street reset its expectations for the videogame publisher.
: Intel cuts pay, bonuses and other benefits while maintaining dividend
Intel Corp. continues to cut costs for everything except payments to investors.
: Move over, Punxsutawney: The movie ‘Groundhog Day’ turned this Illinois town into a tourist hot spot
Bill Murray starred in the 1993 film, but Woodstock, Ill., also played a key part.
The Fed: Fed lifts interest rates again but sees only a ‘couple more hikes’ in fight against inflation
The Federal Reserve on Wednesday raised its benchmark rate to a range of 4.5%-4.75% but signaled that the end of rate hikes is near.