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“Boeing shares plunge as technical problems persist” Boeing unveiled $2.7 billion in charges and added costs across its aircraft portfolio on Wednesday, and expressed doubts over hitting jet delivery targets as technical problems, inflation and supplier risks cloud its path toward recovery. Shares of the US planemaker fell to a nearly 1-1/2 year low after it posted a…
“Archegos founder Bill Hwang arrested, charged with fraud” Archegos Capital Management founder Bill Hwang and the fund’s chief financial officer Patrick Halligan were arrested Wednesday by federal agents on criminal charges including securities fraud, wire fraud and racketeering. In a lawsuit filed in the Southern District of New York, US prosecutors allege Hwang — whose…
“General Electric shares fall on supply chain, inflation woes” General Electric on Tuesday said fresh COVID-19-related lockdowns in China as well as the war in Ukraine have exacerbated supply chain disruptions and inflationary pressure, putting its full-year profit outlook at risk and plunging its shares. While the Boston-based industrial conglomerate retained the outlook issued in January, it…
“Jack Dorsey set for $978M payday from Elon Musk Twitter buy” Jack Dorsey, the co-founder of Twitter who stepped down as CEO last year, stands to pocket $978 million once Tesla CEO Elon Musk completes his $44 billion takeover of the social media platform. Parag Agrawal, the current chief executive of the San Francisco-based tech…
“Shaun King, other liberals vow to leave Twitter in protest of Elon Musk” Outraged liberals were fleeing Twitter left and right Tuesday in the wake of Elon Musk’s $44 billion takeover — as prominent progressives claimed the social-media platform would become a “hellhole” with the billionaire Tesla and SpaceX CEO at the helm. Black Lives Matter activist…
“Twitter accepts Elon Musk’s $44 billion bid” Twitter’s board of directors said Monday afternoon that it has accepted Tesla CEO Elon Musk’s $44 billion offer to buy the company — bringing an end to a weekslong saga and ushering in a new era for the struggling social-media platform. Musk, who has said he wants to…
“US stocks slide as economic worries mount ahead of crucial tech earnings” US stocks sold off in early trading on Monday in a sign of mounting investor anxiety as Wall Street enters a week of crucial earnings reports from major tech firms. The Dow Jones Industrial Average fell more than 230 points, or about 0.7%,…
“Activision Blizzard sales miss on weak ‘Call of Duty’ demand” Videogame publisher Activision Blizzard missed estimates for first-quarter sales on Monday, hurt by low demand for its latest title “Call of Duty: Vanguard.” Activision’s performance has taken a hit from lower premium sales for “Call of Duty: Vanguard” and weaker engagement in “Call of Duty: Warzone,” with…
“Twitter set to accept Elon Musk’s $43 billion offer: report” Twitter is reportedly on the verge of accepting Elon Musk’s $43 billion bid to take the social network private, according to a report. Twitter may announce it has accepted Musk’s offer later on Monday once its board has met to recommend the transaction to Twitter…
“Melvin Capital’s Gabe Plotkin apologizes for losses to investors — who want their money back” In a dramatic about-face on Sunday, Melvin Capital founder Gabe Plotkin told investors he was delaying a surprise plan to return their money he revealed last week, The Post has learned. Instead, Plotkin said he planned to take the next…