WeWork stock plummets 50% after impending bankruptcy reports
WeWork, a company once valued at $47 billion, now sells for around $1.12 per share at a market capitalization of $59 million.
Stocks
Alphabet Earnings: Google parent stock slides despite profit, sales beats
Alphabet brought in a robust $59.6 billion in ad revenue last quarter but Wall Street soured on weaker than anticipated profits in the company’s cloud business.
General Motors stock slides: 3-year low amid $5 billion strike slump
General Motors shares tanked again Thursday as a possible issue with its airbags added to negative concerns over the auto workers strike for the limping legacy American automaker.
Donald Trump, Sam Bankman-Fried And The Snapchat founders: Here’s who fell off the 2023 Forbes 400 list
These 24 billionaires lost a combined $43 billion—and their spot among the nation’s wealthiest people.
Lachlan Murdoch wins his family’s ‘Succession’: Here’s how he took over the Fox/News Corp juggernaut
Rupert described his eldest son as a “passionate, principled leader” in a statement naming his successor.
Foot Locker gets credit rating lowered to junk
New York-based footwear and apparel retailer Foot Locker Inc. reported weaker than expected second-quarter earnings amid elevated promotional activity and weak consume…
Arm, the largest IPO of the year, explodes 17% in first day of trading
The largest IPO in 22 months, Arm opened with a $54.5 billion market capitalization.
Birkenstock files for IPO two years after its $4.3 billion acquisition
The IPO could be valued at more than $8 billion, according to Bloomberg,
Larry Ellison’s net worth drops nearly $20 billion as Oracle stock has worst day in decades
Ellison’s software company suffered its worst day on the stock market since 2002 on Tuesday.
Robinhood shares jump after buying back Bankman-Fried’s $605m in seized shares
Robinhood’s shares, which had been slumping in recent weeks, shot up after it announced it bought more than $605 million in shares that had previously been controlled by Sam Bankman-Fried.