Alphabet, Meta Platforms Targets Cut at KeyBanc on Tougher Ad Environment By

© Reuters. By Senad Karaahmetovic KeyBanc analysts lowered price targets on Alphabet (NASDAQ:) and Meta Platforms (NASDAQ:) amid increasing concerns the ad market will see a downturn in 2023. These concerns have made investors further skeptical of revenue estimates for both META and GOOGL, analysts said in a client note. As a result, the analysts … Read more

Musk plans to cut 75% of Twitter staff if he takes over: Report

San Francisco, Oct 21 (IANS) As part of his bid to acquire Twitter, tech billionaire Elon Musk is reportedly planning to lay off close to 75 per cent of the microblogging site’s workforce. Job cuts are expected in the coming months no matter who owns the company, according to the report, which cited interviews and … Read more

Oracle launches B2B Commerce service to cut cost of doing biz

Las Vegas, Oct 19 (IANS) Cloud major Oracle (NYSE:) on Wednesday launched a new service that will integrate and automate end-to-end business-to-business (B2B) transactions. Oracle B2B Commerce will provide integrations with J.P. Morgan’s Payments business for integrated banking and J.P. Morgan travel card and expenses services as well as a planned logistics services integration as … Read more

Microsoft Cut Nearly 1,000 Jobs

© Reuters. By Senad Karaahmetovic Tech giant Microsoft Corp (NASDAQ:) reportedly reduced its workforce by almost 1,000 people, Axios reports today. The company reported a headcount that exceeded 220,000 at the end of Q2, meaning the latest job cuts affected less than 1% of Microsoft’s total workforce. The software giant said earlier that it is … Read more

Oil Rises as OPEC+ Members Voice Support For Supply Cut

By Ambar Warrick– Oil prices rose on Monday, recovering some of last week’s losses as more OPEC+ members expressed support for a recent production cut of over 2 million barrels per day, despite increased opposition from the United States.   Several members of the Organization of Petroleum Exporting Countries and its allies, including Saudi Arabia, the … Read more

White House Says Saudis ‘Coerced’ OPEC+ to Cut, Escalating Feud

(Bloomberg) — The White House accused Saudi Arabia of coercing other OPEC+ countries into agreeing to a huge cut in oil production last week, escalating a dispute with Riyadh over the move, and said the administration had urged the kingdom for a delay that would effectively postpone a decision until after US midterm elections. National … Read more

Intel to Reportedly Cut Thousands of Staff, Seen as a Necessary Step but Still Insufficient By

© Reuters. By Senad Karaahmetovic Intel Corp . (NASDAQ:) is looking to make major staff cuts in the coming period, Bloomberg News reported citing people with knowledge of the situation. The chipmaker plans to announce cost-cutting measures this month, somewhere around its Q3 earnings report that is scheduled for October 27. Intel could cut up … Read more

Europe Stocks Head Lower on BoE Confusion, Philips Guidance Cut

By Geoffrey Smith — European stock markets steadied after a shaky start on Wednesday after some weak and high-profile updates from companies across the region combined with the general uncertainty over the Bank of England’s next moves to dampen market sentiment.  By 04:45 ET (08:45 GMT), the benchmark index was down 0.2 points or … Read more

Suzlon’s Rs 1,200 cr rights issue launched, company aims to cut down debt

New Delhi Oct 11 (IANS) Suzlon Energy’s rights issue worth Rs 1,200 crore opened on Tuesday, under which fresh equity shares are offered by a company to existing shareholders. These shareholders will get the right to buy fresh shares using their ‘Rights Entitlement’. The closing date for the rights issue is October 20. Meanwhile Suzlon’s … Read more

Leggett & Platt Shares Plunge 8% on 2022 Guidance Cut By

© Reuters. By Davit Kirakosyan Leggett & Platt (NYSE:) shares plummeted more than 8% after-hours following the company’s 2022 EPS and revenue guidance cut. The company lowered its fiscal 2022 Sales guidance to $5.1-$5.2 billion from $5.2–$5.4 billion, primarily due to lower volume than previously expected. The consensus estimate stands at $5.32 billion. Full-year EPS … Read more