Business news

Business news • Jun 23

White House PQC order ‘lights a fire’ under post-quantum transition

The White House is accelerating the governmentwide shift to post-quantum cryptography through new deadlines and pilots, but key questions remain about how...

1 0 0

Business news • Jun 23

Alphabet added to Dow Jones Industrial Average, replacing Verizon

Alphabet will replace Verizon in the Dow Jones Industrial Average.

1 0 0

Business news • Jun 23

MTA chair calls Amtrak's Penn Station planning 'bizarre,' declines to join as partner

MTA Chair Janno Lieber raised several concerns over Amtrak's oversight of the Penn Station reconstruction effort.

1 0 0

Business news • Jun 23

Cerebras falls 10% after chipmaker forecasts shrinking margin in first earnings report since IPO

Cerebras went public on the Nasdaq in May, giving Wall Street access to a pureplay AI company.

1 0 0

Business news • Jun 23

FedEx Revenue Beats But Stock Is Sliding. This Is Why.

FedEx (FDX) easily beat revenue estimates for its fiscal fourth quarter after Tuesday's market close, its first report after executing a momentous...

1 0 0

Business news • Jun 23

Here’s Why Micron Shares Fell 13% Tuesday

Micron shares plummeted over 13% on Tuesday, falling as South Korea's Financial Supervisory Service contributed to a global chip sell-off with a warning...

1 0 0

Business news • Jun 23

SpaceX Stock Price Is Slumping After Its Blockbuster IPO

On Tuesday, SpaceX briefly fell below $150 a share, which was where the stock began trading when the company listed publicly just over a week ago.

1 0 0

Business news • Jun 23

Tech Stocks Retreat on Concerns over AI Spending, Valuations

Plus, SpaceX shares snap losing streak and Oracle puts a number on layoffs.

1 0 0

Business news • Jun 23

FedEx posts strong earnings results in last quarter with freight business

FedEx posted strong fiscal fourth quarter earnings on Tuesday in the company's last quarter that included the freight business before its spin-off.

1 0 0

Business news • Jun 23

FedEx Sees Profit Gain While Warning on Inflation, Trade Turmoil

FedEx Corp. reported profit that beat Wall Street's expectations as the courier navigated tumultuous trade policies and rising costs that have buffeted the...

1 0 0

Business news • Jun 23

FedEx Reports Strong Fourth Quarter and Full-Year Results

FedEx Corp. (NYSE: FDX) today reported the following consolidated results for the fourth quarter ended May 31 (adjusted measures exclude the items listed...

1 0 0

Business news • Jun 23

Is AI 'one big bubble'? Behind the tech sell-off

Investors are selling off AI-related stocks as doubts are starting to surface over whether the massive spending on AI is worth the investment and whether...

1 0 0

Business news • Jun 23

Mark Zuckerberg wants Meta to launch its own prediction market

The app would be independent of Meta's other social media offerings, although sources told the NYT that those social sites could direct users to engagement...

1 0 0

Business news • Jun 23

Alphabet Stock Extends Losses as Wall Street Asks if It Remains an AI Winner

Alphabet stock falls as the tech selloff accelerates and Wall Street questions whether Google brain drain hurts its AI ambitions.

1 0 0

Business news • Jun 23

Tesla claims driver ‘manually overrode self-driving’ in deadly Texas crash

Tesla is pushing back on claims that its Full Self-Driving technology contributed to a Texas crash that killed a 76-year-old woman after a Model 3 plowed...

1 0 0

Business news • Jun 23

Meta prediction markets app Arena sinks DraftKings, Robinhood stock

Meta $META CEO Mark Zuckerberg has directed a small team to build a prediction markets app, sending shares of DraftKings and Robinhood lower after the plans...

1 0 0

Business news • Jun 23

SpaceX Dodges Danger Zone, Rebounds Above $2 Trillion Valuation

Shares headed higher on Tuesday after a brief slide earlier in the day drove the space exploration-and-AI company below a $2 trillion market cap.

1 0 0

Business news • Jun 23

Computer wars heat up as Chinese supercomputer tops all US machines in speed for first time since 2017

China's LineShine supercomputer surpasses El Capitan for world's fastest on the TOP500 List, the first time since 2020 a U.S. system lost the crown.

1 0 0

Business news • Jun 23

Meta is building a prediction markets app. These stocks fell in response

The report said that CEO Mark Zuckerberg directed staff to develop a prediction markets platform, internally known as "Arena."

1 0 0

Business news • Jun 23

Jobs bloodbath at Oracle as 21,000 staff let go amid huge strategy pivot

Oracle has quietly axed 21,000 workers in a massive jobs bloodbath as it pours billions into artificial intelligence, all while admitting the technology is...

1 0 0