Opendoor co-founder and newly minted board chair Keith Rabois said remote work and a “bloated” workforce have been a drag on the company’s culture, as he vowed to slash headcount. “There’s 1,400 employees at Opendoor. I don’t know what most of them do. We don’t need more than 200 of them,” Rabois told CNBC’s “Squawk…
Affirm stock popped 10% Friday after the buy now, pay later firm beat Wall Street’s expectations across the board in its fiscal fourth-quarter results. CEO Max Levchin told CNBC on “Money Movers” Friday that the company is “firing on all pistons.” Earnings came in at 20 cents a share and nearly doubled analyst expectations, with…
Affirm shares rose 15% in extended trading on Thursday after the provider of buy now, pay later loans reported better-than-expected earnings and revenue for the fiscal fourth quarter. Here’s how the company did versus LSEG consensus estimates: EPS:Â 20 cents vs. 11 cents estimated Revenue:Â $876 million vs. $837 million estimated Revenue climbed 33% in the period…
Alphabet CEO Sundar Pichai during the Google I/O developers conference in Mountain View, California, on May 10, 2023. David Paul Morris | Bloomberg | Getty Images Google executives are pushing employees to act with more urgency in their use of artificial intelligence as the company looks for ways to cut costs. That was the message…
He helped clinch the top two spots on Morningstar‘s best performing ETFs last quarter, and now Ark Invest’s Brett Winton is looking to do it again with extensive exposure to Big Tech and aerospace. Winton helps set strategy for the No. 1 ranked Ark Innovation ETF (ARKK) and runner-up Ark Space Exploration & Innovation ETF…
People watch as the logo for Coinbase, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron at Times Square in New York on April 14, 2021. Shannon Stapleton | Reuters Coinbase is the top performer in the S&P 500 in June, boosted by positive regulatory updates, product launches and, of course, its…
These are the stocks posting the largest moves in midday trading. [title_words_as_hashtags
Mathisworks | Digitalvision Vectors | Getty Images While the government cost-cutting initiative known as the Department of Government Efficiency, which resulted in thousands of federal job cuts, winds down, mass layoffs are still roiling corporate America. Companies are under increasing pressure to trim costs against the backdrop of global economic uncertainty brought on by President…
