Meta CEO Mark Zuckerberg makes a keynote speech at the Meta Connect annual event, at the company’s headquarters in Menlo Park, California, Sept. 25, 2024. Manuel Orbegozo | Reuters Meta shares dropped 9% after the company reported third-quarter earnings on Wednesday that beat on sales. Here’s how the company did, compared with estimates from analysts polled…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: The S & P 500 flipped between positive and negative Wednesday afternoon after Federal Reserve Chairman Jerome Powell said a December interest rate cut was…
The Federal Reserve on Wednesday approved its second straight interest rate cut, though Chair Jerome Powell rattled markets when he threw doubt on whether another reduction is coming in December. By a 10-2 vote, the central bank’s Federal Open Market Committee lowered its benchmark overnight borrowing rate to a range of 3.75%-4%. In addition to…
The shutdown of the U.S. federal government could cost the economy up to $14 billion, depending on how long it lasts, the Congressional Budget Office said Wednesday. The shutdown, now in its fourth week, will result in the loss of at least $7 billion of gross domestic product by the end of 2026 as a…
Microsoft CEO Satya Nadella departs following a meeting of the White House Task Force on AI Education in the East Room of the White House in Washington on Sept. 4, 2025. Eric Lee | Bloomberg | Getty Images Microsoft was hit with outages in its Azure cloud and 365 services on Wednesday, hours before the…
The Ultium Cell factory in Warren, Ohio, is shown, July 7, 2023. Gene J. Puskar | AP General Motors laid off roughly 1,700 workers at manufacturing sites in Michigan and Ohio on Wednesday, citing a slowdown in the electric vehicle market. The company confirmed there were around 1,200 layoffs at Detroit’s electric vehicle plant and 550 cuts…
The Etsy NYC headquarters building is seen in New York City. Michael M. Santiago | Getty Images News | Getty Images Etsy CEO Josh Silverman will step down from his position and move to the role of executive chairman at the end of the year, the online marketplace said Wednesday. Kruti Patel Goyal, Etsy’s president…
Cfoto | Future Publishing | Getty Images Character.AI on Wednesday announced that it will soon shut off the ability for minors to have free-ranging chats, including romantic and therapeutic conversations, with the startup’s artificial intelligence chatbots. The Silicon Valley startup, which allows users to create and interact with character-based chatbots, announced the move as part of…
Fruitist, the healthy snacking company known for its jumbo blueberries, has raised $150 million in an equity funding round led by new investor J.P. Morgan Asset Management, with billionaire Ray Dalio‘s family office doubling down on its existing investment in the farming startup. The company, valued at over $1 billion, is growing distribution rapidly in…
A ‘For Sale’ sign is posted beside property for sale in Alhambra, California. Frederic J. Brown | AFP | Getty Images Mortgage interest rates dropped for the fourth straight week last week, spurring both current homeowners and potential homebuyers to call their lenders. Total mortgage application volume increased 7.1% compared with the previous week, according…
