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
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
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
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 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
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
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
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
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
Text size Berkshire CEO Warren Buffett has steadily accumulated Occidental stock this year. AFP via Getty Images Berkshire Hathaway now owns just over 20% of Occidental Petroleum after about $400 million in fresh purchases of the energy company in recent days, according to a filing late Monday. With a 20.2% stake, Berkshire Hathaway (ticker: BRK/A, … Read more