Microsoft Invests Billions In OpenAI, Bans Use of ChatGPT Temporarily By Pierre Herubel In an unexpected move, Microsoft temporarily banned the use of OpenAI’s famous product, ChatGPT, for its employees. The ban was attributed to security and data concerns, prompting Microsoft to restrict access to the AI tool on corporate devices. Alongside ChatGPT, the company…
Top Companies Experience Volatility in After-Hours Trading Several major companies saw significant shifts in their stock prices during after-hours trading, with Wynn Resorts, Illumina, Synaptics, TKO Group Holdings, Unity Software, The Trade Desk, and Capri Holdings all making headlines. Wynn Resorts shares dropped by 6% following the release of the casino operator’s third-quarter earnings. While…
Democratic Senator Joe Manchin of West Virginia announced on Thursday that he will not be seeking reelection in 2024, but indicated that he will continue to be active in politics. In a video posted on X, Manchin stated, “I have made one of the toughest decisions of my life, and decided that I will not…
In midday trading, several companies are making significant headlines. Affirm’s shares surged by 17%, following their fiscal first-quarter revenue report that exceeded expectations. Virgin Galactic Holdings saw a 20% rally after announcing cost-saving initiatives, including pausing spaceflight operations next year and laying off 18% of its workforce. Duolingo also experienced a 17% surge in shares,…
Stocks in the US edged higher on Thursday, with the S&P 500 headed for its ninth consecutive day of gains. The rise in stocks is attributed to solid third-quarter earnings results. The Nasdaq is also on track for its tenth straight gain, while the Dow broke its winning streak on Wednesday. So far, 90% of…
Oil India Ltd’s second quarter net profit has seen an 81% drop due to a one-time provisioning for tax liability, according to a filing with the stock exchange. The company’s standalone net profit for the July-September period was reported at Rs 325.31 crore, down from Rs 1,720.53 crore in the same period last year. As…
Quiet IPO Market Reflects Challenging Times All seems quiet in IPO land as traders at the New York Stock Exchange (NYSE) reflect on the scarce activity ahead of the typically bustling holiday season. With the usually active pre-Thanksgiving period yielding little to no sign of significant IPOs, companies and market analysts are expressing doubts about…
Welspun Enterprises Ltd, a prominent infrastructure developer based in New Delhi, has reported a significant 48.1% decrease in consolidated profit for the September quarter. According to the filing submitted to the BSE, the company’s profit dropped to Rs 69.01 crore from Rs 132.98 crore in the same period last year. Despite the decrease in profit,…
Virgin Galactic has laid off 185 employees, representing about 18% of its workforce, as the space-tourism company shifts its focus to building new spaceships capable of carrying six passengers. According to a report by CNBC, CEO Michael Colglazier informed employees via email that they would receive phone calls by Thursday to learn if they were…
Ircon International Ltd, a leading turnkey construction company and navratna public sector enterprise, has reported a 44% increase in consolidated Profit After Tax (PAT) to Rs 250.8 crore in the September quarter. This marks a significant rise from the Rs 174.2 crore PAT recorded in the year-ago period, as stated in a filing to the…
