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During a speech in December of 1996, then Fed Chair Alan Greenspan uttered the somewhat immortal phrase “irrational exhuberance” while discussing asset values and the historical role of central banking. Although the context of his comment did not specifically reference 1996 stock valuations, investors inferred from the statement that Greenspan thought equity assets were overpriced….
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Twilio, which provides communication technology to ride-sharing company Uber, filed for an initial public offering (IPO) last week. The San Francisco-based company is looking to raise up to $100 million in an IPO. Twilio intends to list the Class A common stock on the New York Stock Exchange under the symbol “TWLO.” In an IPO prospectus submitted…
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Tesla Motors Inc could use some help as the firm works hard to deliver on its promise to to build an EV that will fit just about any budget. Tesla is on a hiring spree and qualified talent is hard to find. If the firm is going to continue to defy the pessimism of naysayers,…
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Alphabet Inc ’s former communications head, Rachel Whetstone, who joined Uber recently, appears to have hired one more of Internet firms employee – Niki Christoff, says a report from BI. Last week, there were reports that more than a dozen employees on Uber’s communications and policy team have been laid off by Whetstone. Losing talent…
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Microsoft Corporation is one of the only big tech firms that isn’t making an effort to change the future of transport. As with the boom in social networks, however, the firm is looking to get exposure to the big changes ahead without needing to change its core business to suit. Microsoft made a $100m investment…
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Tesla Motors Inc (NASDAQ:TSLA) is set to put a self-driving car on the road this Summer, and the firm’s attempts to make cars run themselves are attracting a huge amount of attention. Uber is one of the firms with the most to gain from the introduction of the RoboCar, and the firm’s CEO has made…
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After around a month of rumors, Meta Platforms (NYSE: META) has announced its second round of mass layoffs. Would other tech peers follow suit? Last year, Meta Platforms laid off 11,000 employees which were 13% of its workforce. Now, the company has said that it would lay off another 10,000 people and close another 5,000…
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Institutional investors in Big Tech companies have been a worried lot as the stocks have sagged this year. In the latest move, TCI Fund Management has written a letter to Alphabet calling upon the company to lower costs. TCI said that it has been a “significant shareholder” of Alphabet since 2017 and currently holds around…
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Meta Platforms stock (NYSE: META) fell 6% on Monday and continued its dismal run. The stock lost 24% last week and it was the worst month on record for the social media giant. While October was a good month for US stocks and the Dow Jones had its best month since 1976, there was a…
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Alphabet (NYSE: GOOG) stock is trading sharply lower in US premarket price action today after it missed both the topline and bottomline estimates for the third quarter of 2022. Alphabet reported revenues of $69.09 billion in the third quarter which were 6% higher than the corresponding period last year. In constant currency terms, the revenues…
