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Take-Two Interactive Software Shares Fall After Leak of Grand Theft Auto Trailer Shares of video game publisher Take-Two Interactive Software dropped up to 4% in after-hours trading on Monday following the release of the trailer for the next Grand Theft Auto game, set to be released in 2025. Originally planned for release on Tuesday, Dec….
Twilio Inc. CEO Jeff Lawson announced that the software provider would be laying off approximately 5% of its workforce due to underachievement in the growth of a targeted unit by activist investors. The news caused the company’s shares to fall by about 0.5%. The company expects restructuring charges ranging from $25 to $35 million. The…
Spotify CEO Daniel Ek announced a significant reduction in the company’s headcount equivalent to about 17%. This decision comes after a reported 65 million euros ($70.7 million) profit in the third quarter, which cited lower spending on marketing and staff. Ek explained that the move is necessary to align Spotify’s cost structure with its financial…
Tencent Music Entertainment Hits Record 100 Million Music Subscribers in China Tencent Music Entertainment (TME) is making significant strides in attracting more paying music subscribers in China. The company recently announced that its online music subscribers surpassed 100 million for the first time since TME listed in the U.S. in late 2018, during the July-to-September…
OpenAI’s tender offer for employees to sell shares to outside investors is moving forward despite leadership changes and board shuffling. Thrive Capital, led by Josh Kushner, will value OpenAI at $86 billion, the same as previously reported in October. This round and valuation were put at risk when CEO Sam Altman was ousted temporarily earlier…
Nvidia’s Surging Revenue in Third Quarter Driven by Singapore Sales In a surprising revelation, Nvidia revealed that 15% of its third-quarter revenue, totaling $2.7 billion, came from Singapore. This represents a 404.1% increase from the previous year and makes Singapore the fourth-largest contributor to Nvidia’s sales, after the U.S., Taiwan, and China including Hong Kong….
Robinhood CEO, Vlad Tenev is standing firm on the company’s use of the payment for order flow (PFOF) model. Despite criticism from consumer trading advocates and regulators, Tenev defended the practice, stating that it is “inherently here to stay.” PFOF involves routing trades through market-makers like Citadel Securities in exchange for a cut of the…
Robinhood, a major player in the online investments app world, has announced a new venture into the U.K. market for the third time. The company plans to launch its platform in early 2024, offering features such as access to 6,000 U.S. stocks and 24-hour trading five days a week. Although Robinhood won’t initially offer U.K….
Salesforce Shares Rise 7% in Extended Trading After Strong Fiscal Third Quarter Results At the Asia-Pacific Economic Cooperation (APEC) Leaders’ Week in San Francisco, Salesforce CEO Marc Benioff participated in a discussion about AI and the future. This was followed by an announcement that Salesforce shares increased by 7% in extended trading on Wednesday due…
