Virgin Galactic is set to launch its first spaceflight in nearly two years on Thursday. Called Unity 25, the mission represents the company’s fifth spaceflight to date and is the first since founder Sir Richard Branson’s launch to the far reaches of space. This is a crucial moment in the history of Virgin Galactic, which … Read more
Shares of Snowflake fell sharply in premarket trading on Thursday after the cloud-based data warehousing company reported strong results for the fiscal first quarter ended April, but offered a disappointing outlook for the third quarter. July, while reducing its forecast for the fiscal year ending in January 2024. . Snowflake (ticker: SNOW) was down 14% … Read more
Nvidia provided a revenue forecast for the July quarter well above expectations, citing growing demand for its chips that enable artificial intelligence applications. Its shares soared in after-hours trading. The semiconductor company reported adjusted earnings per share for the April quarter of $1.09, versus the Wall Street consensus estimate of 92 cents, according to FactSet. … Read more
Semiconductor maker Analog Devices posted a quarterly sales record on Tuesday. The stock fell anyway. Management’s comments on the auto business did. Sales in this end market are expected to fall in the current quarter. The revelation sent shares of a host of other auto-related stocks around the world plummeting. “We delivered another very strong … Read more
Last updated: May 24, 2023 at 4:35 p.m. ET First published: May 24, 2023 at 4:32 p.m. ET Executives from Nvidia Corp. predicted record earnings far beyond anything the company saw on Wednesday, pushing the stock into record territory. Nvidia Guided NVDA to $11 Billion Q2 Revenue, Plus or Minus 2%; the chipmaker has never … Read more
Posted: May 23, 2023 4:24 PM ET Microsoft Corp. co-founder Bill Gates thinks two stalwarts of Big Tech are as susceptible to the downsides of artificial intelligence as the millions of workers who could be displaced by the technology. In a discussion on Monday at an event hosted by Goldman Sachs and SV Angel, Gates … Read more
Bankrupt rocket company Virgin Orbit sold its assets and equipment to Rocket Lab, Stratolaunch and Vast’s Launcher in a bankruptcy auction, and will cease operations. Virgin Orbit filed for bankruptcy protection on April 4 after the company failed to secure a funding lifeline and laid off nearly all of its workforce. Spun off from Virgin … Read more
Bitcoin and other cryptocurrencies rose on Tuesday, but continued to languish below key levels amid a correction from April’s recent spike in digital asset prices. A deal to raise the US debt ceiling remains elusive and has created uncertainty for crypto traders. Bitcoin price rose 2% in the past 24 hours to $27,325. The largest … Read more
Amazon has added an age verification feature to its palm-based payment system that allows users to purchase alcohol by swiping their hand. The company launched the system, called Amazon One, in 2020. Amazon One is now used in select restaurants and stadiums, as well as several Amazon grocery chains. Amazon One connects the shopper’s palm … Read more
Ford Motor on Monday announced a series of new agreements for the supply of lithium products in support of its plan to dramatically increase production of electric vehicles. The automaker said it plans to produce 2 million electric vehicles a year by 2026. The company is expected to outline its path to achieving that goal … Read more
