The move, worth $197 million as of July 28, is to “reinvest directly in our people,” Dorsey, who was named as the company’s permanent CEO earlier this month, said in a tweet on Thursday. Twitter did not comment further on the move. The unusual move comes as Dorsey works to rebuild employee morale and confidence at Twitter after a spate of high-level departures over the past several months.
Leon Cooperman and Steven Einhorn’s Omega Advisors told investors the bull market in U.S. shares was intact and that equities should generate a mid-to-high single-digit annual total return despite August’s market turmoil. In a letter to investors dated Oct. 17 and seen by Reuters on Friday, Cooperman and Einhorn said it would take time to restore investor confidence in U.S. shares after the volatility and forced selling that drove stocks
Technology bulls in the stock market are about to get paid.
U.S. equities traded higher after the Chinese central bank cut rates and after three tech giants posted better-than-expected earnings.
Oil prices headed for a second week of declines on Friday as an unabating supply glut weighed even as China’s latest interest rate cut raised hopes for stronger demand from the world’s top energy consumer. Benchmark Brent crude oil fell 38 cents to $47.70 a barrel by 1330 GMT, and was on course for a weekly decline of more than 5.5 percent. U.S. crude for December was down 88 cents
For Alphabet, search traffic on mobiles surpassed desktop traffic worldwide for the first time, while Amazon was able to boost margins, an area of concern, as its cloud business boomed. Microsoft’s growing emphasis on cloud computing under Chief Executive Satya Nadella also put the company on track successfully transition away from its slowing business that relies on sales of personal computers. Alphabet’s shares jumped 10.5 percent to a record high
Procter & Gamble, which is attempting to refocus on core brands and regain its standing as a top competitor, struggled to boost sales in its first quarter. Even stripping out the effects of the strong …
Tesla Motors Inc could begin producing cars in China in two years, Chief Executive Elon Musk said, adding that local production had the potential to slash the sales prices of its models in the world’s largest auto market by a third. Tesla’s negotiations with officials on Chinese production have been quite encouraging and it is likely the company will cooperate with a local partner, Musk said, according to Chinese language
U.S. stocks traded sharply higher on Thursday, as Wall Street digested the European Central Bank’s rates decision.
It’s the debt, stupid!