Markets

AMC Scores an Earnings Beat at a Difficult Time for Meme Stocks

AMC Scores an Earnings Beat at a Difficult Time for Meme Stocks

AMC Entertainment shares, along with other meme stocks, haven’t been spared during the broader market rout of the last few weeks. Mandel Ngan/AFP via Getty Images Text size AMC Entertainment Holdings stock jumped after the move theater firm beat Wall Street’s expectations for the first quarter. The company reported a non-GAAP net loss of 52 …

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Uber, Amazon, and Facebook Have Slowed Hiring.  Why Others Could Follow.

Uber, Amazon, and Facebook Have Slowed Hiring. Why Others Could Follow.

Text size Uber is one of multiple tech companies slowing down hiring and cutting back on spending. Drew Angerer/Getty Images facebook parent Meta Platforms , ride-share service provider Uber Technologies and tech and online retail giant Amazon.com have announced hiring slowdowns in recent weeks. It’s all about keeping down costs, according to one economist. Peter …

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Rivian Stock Slumped.  Ford Plans to Sell Part of Its Stake.

Rivian Stock Slumped. Ford Plans to Sell Part of Its Stake.

Text size Ford is planning to sell 8 million of the roughly 100 million shares of Rivian the company holds, according to multiple reports. Courtesy Rivian Shares of the electric-truck startup Rivian Automotive fell Monday. Ford-Motor is the main reason, but there is something else troubling investors. Just look at the overall market. Everything ended …

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Uber to cut down on costs, treat hiring as a 'privilege': CEO email

Uber to cut down on costs, treat hiring as a ‘privilege’: CEO email

Uber will cut back on spending and focus on becoming a leaner business to address a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC. “After earnings, I spent several days meeting investors in New York and Boston,” Khosrowshahi said in the email, which was sent out late …

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Dow tumbles 1,000 points for the worst day since 2020, Nasdaq drops 5%

Dow tumbles 1,000 points for the worst day since 2020, Nasdaq drops 5%

Stocks pulled back sharply on Thursday, completely erasing a rally from the prior session in a stunning reversal that delivered investors one of the worst days since 2020. The Dow Jones Industrial Average lost 1,063 points, or 3.12%, to close at 32,997.97. The tech-heavy Nasdaq Composite fell 4.99% to finish at 12,317.69, its lowest closing …

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