Amazon is laying off hundreds of employees across its Prime Video and MGM Studios divisions. Mike Hopkins, who oversees those units, sent a note to staffers on Wednesday informing them of the job cuts, according to a copy of the memo viewed by CNBC. An Amazon spokesperson confirmed the layoffs. Hopkins said the company moved … Read more
Picture Alliance | Picture Alliance | Getty Images It’s the third act of the streaming wars. That’s the time a hero, seemingly beaten and broken, rises up and saves the day. But Wall Street is worried that hero may never come for Hollywood. Legacy media companies including Disney, Warner Bros. Discovery, Comcast and Paramount Global … Read more
CNBC’s Jim Cramer on Tuesday shared what he learned from his two days at JPMorgan‘s health-care conference. He marveled at the myriad of uses for generative artificial intelligence in health care, but concluded that Wall Street is more concerned with using that new technology for advertising. Cramer told investors that “Magnificent Seven” members Amazon and … Read more
CNBC’s Jim Cramer applauded Monday’s market gains for Big Tech, which had seen a sell-off in the early days of the new year as Wall Street shifted its focus to a number of other sectors. He advised investors to keep a diverse portfolio, buying shares in health-care companies and paying attention to industry leaders who … Read more
Jtsorrell | Istock | Getty Images A new mysterious nonprofit group backed by the crypto industry has set up a mailing address about 100 miles away from Washington, D.C., and is making movies to exert power in the nation’s capital. The Cedar Innovation Foundation, a 501(c)(4) that was incorporated in Delaware in April, has launched … Read more
Shoppers walks past advertisements on the opening day of fast-fashion e-commerce giant Shein, which hosted a brick-and-mortar pop up inside Forever 21 at the Ontario Mills Mall in Ontario on Oct. 19, 2023. Allen J. Schaben | Los Angeles Times | Getty Images ORLANDO, Fla. — Little is known about how much revenue Shein draws … Read more
Traders work on the floor of the New York Stock Exchange. NYSE Stock markets have entered a new phase that will involve a broadening of last year’s bull market as big U.S. tech stocks come under pressure, according to the CIO of a Swiss private bank. Charles-Henry Monchau, chief investment officer at Bank Syz, told … Read more
The brand new rocket, United Launch Alliance’s (ULA) Vulcan Centaur, lifts off from Space Launch Complex 41d at Cape Canaveral Space Force Station in Cape Canaveral, Florida, on January 8, 2024, for its maiden voyage, carrying Astrobotic’s Peregrine Lunar Lander. Chandan Khanna | AFP | Getty Images A new U.S. rocket reached orbit early Monday, … Read more
It’s not being talked about enough. This market move off the November lows and the Fed pivot — signaling an end to the central bank’s rate-hiking cycle — is one of the most astonishing and satisfying I have seen in 43 years of investing. In nine weeks, we blew through price targets on so many … Read more
At age 12, Bella Lin had a problem. Her guinea pigs were disappearing. In those days, Lin let her three guinea pigs roam her parents’ grassy, fenced-in backyard just outside of San Francisco. It was better than the alternative, she thought: The two-pound creatures “looked miserable” in their cramped, “prison-barred” cage, Lin, now 17, tells … Read more
