Amazon.com said it plans to launch a dedicated air cargo service in India. Wayfar said it plans to lay off 10% of its staff. Spotify to cut 6% of its staff. Baker Hughes quarterly earnings plunged.
Charles Schwab benefitted from the rising rate environment. Fastenal results indicated a weakening construction cycle. P&G quarterly earnings fell on higher input costs. Netflix added more than estimated subscribers.
Amazon.com commenced its largest lay off in the retailer's history. Microsoft plans to take a one-time charge to cover severance and retail lease consolidation costs. PNC Financial earnings fell.
Goldman Sachs said earnings dropped on higher loan loss provisions. Morgan Stanley said earnings were supported by improvement in its wealth management unit. Vodafone agreed to sell its majority stake in Ghana telecom.
Bank of America and JPMorgan Chase forecasted a mild recession in 2023. Citigroup and Wells Fargo increased provisions for credit losses. Goldman Sachs disclosed its push in consumer banking cost $3 billion.
American Airlines revised higher its revenue outlook. Swiss tech company Logitech slashed its quarterly sales outlook. KB Home forecasted flat home sale price in the current quarter. Infosys sales rose on higher digital revenues.
Intuitive Surgical reported a decline in new surgical systems installations and in revenues in the fourth quarter. Tesla said it plans to expand its factory in Texas.
Bed Bath & Beyond rushes to close stores and cut expenses as sales decline and cash dwindles. Coinbase announced a second layoff in seven months. Danaher lifted its fourth quarter outlook.
Biotech firms Albireo agreed to be acquired by France-based Ipsen and CinCor by AstraZaneca. Duck Creek Tech agreed to go private. Lululemon's guidance disappointed investors. Teladoc narrowed its fourth quarter revenue outlook.
World Wrestling Entertainment said its founder will return to its board and the company may look for a buyer. Greenbrier dropped after the railcar maker swung to a quarterly loss. Tesla extended its discounts for sales in China.
Amazon.com reported its plans to lay off more workers than previously estimated. Silvergate Capital total customer digital assets plunged. Bed Bath Bath & Beyond is running out of cash.
GE Healthcare Technologies traded higher on the first day of trading as a separate company. Salesforce said it will take a restructuring charge and trim its workforce. Carnival hiked cruise travel prices.
Apple fell on sales worries. Tesla plunged on weaker-than-expected sales in December. China-linked casino stocks advanced on the hopes of a rebound in social mobility.
