Avaya Taps Legal Advisers After Earnings Miss

Avaya Holdings Corp. tapped law firm Kirkland & Ellis LLP to advise the company on its options following an earnings miss that tanked prices of a $600 million debt deal completed in June, according to people familiar with the matter. The cloud-communications company also said Tuesday that there is substantial doubt about its ability to … Read more

AppLovin Proposes to Buy Unity Software in Deal Valued at $20 Billion

Text size The all-stock merger would value Unity at $58.85 a share with a $20 billion enterprise value. David Paul Morris/Bloomberg App marketing services company AppLovin has proposed to buy video gaming company Unity Software in an all-stock transaction valued at $20 billion. U nder the terms of the deal, each outstanding share of Unity … Read more

Upstart earnings spark questions about company’s ‘fintech’ narrative

Shares of Upstart Holdings Inc. were sinking more than 11% in premarket trading Tuesday as analysts digested the lending company’s new reality. While executives at Upstart UPST, -7.43% defended the performance of their artificial-intelligence loan model in a Monday afternoon conference call, they pointed to funding challenges as some bank partners pull back due to … Read more

10 Stocks That Should Shine in a 2023 Recession: Citi

As the risk of a recession draws nearer, Citi group has produced a screen of 30 stocks to help investors find opportunities during the second half of 2022.  Stocks have rebounded in recent weeks with major indexes up by double digits from their June lows. The S&P 500 has risen about 10% since the end … Read more

Micron Stock Falls After Chip Maker Warns of Weakening Demand, Lower Sales

Micron Technology said it intends to invest $40 billion through the end of this decade in expanding domestic manufacturing capabilities. Photo: Steve Helber/Associated Press Updated Aug. 9, 2022 10:52 am ET Micron Technology Inc. MU -5.60% said revenue could slide lower than previously expected in the current quarter as demand for computer memory chips continues … Read more

Norwegian Stock Sinks as It Predicts Losses to Continue

Text size The cruise company predicted it would continue to be unprofitable in the third quarter. Alexandre Meneghini/Reuters/Alamy Shares of Norwegian Cruise Line Holdings fell in premarket trading Tuesday after the cruise company predicted it would continue to be unprofitable in the third quarter. Norwegian (ticker: NCLH ) posted a second-quarter adjusted loss of $478.3 … Read more

Micron Stock Slides on Reduced Fourth-Quarter Revenue Forecast

Text size Courtesy of Micron Micron Technology shares fell in premarket trading Tuesday after the chip company said it was reducing its guidance for fourth-quarter revenue. Micron said in a filing that it expects revenue in the period “may come in at or below the low end of the revenue guidance range” the company provided … Read more

Alibaba Says Primary Listing in Hong Kong Is Approved

Text size Alibaba said the effective date of converting its primary listing to Hong Kong is expected ‘prior to the end of 2022.’ Photograph by David Becker/Getty Images Alibaba , the Chinese e-commerce giant, said its application for a primary listing in Hong Kong has been approved. In a filing, Alibaba (ticker: BABA) said the … Read more

10 Stocks That Should Shine in a 2023 Recession, Citi Says

As the risk of a recession draws nearer, Citi group has produced a screen of 30 stocks to help investors find opportunities during the second half of 2022.  Stocks have rebounded in recent weeks with major indexes up by double digits from their June lows. The S&P 500 has risen about 10% since the end … Read more

What Caused Nvidia’s Shortfall? Gamers or Crypto Mining?

Text size Nvidia has been hurt by fading pandemic-era demand for gaming graphics cards. Justin Sullivan/Getty Images Nvidia warned on Monday that shortfalls in its gaming segment revenue would hamper second-quarter results. Analysts were left wondering how much can be blamed by a drop in demand from gamers, compared with cryptocurrency miners. The company said … Read more