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Bank of America Stock Drops After Q3 Earnings Miss and $1.2 Billion Penalty, as BofA Adds 1,000 Contractors to Fix Mythos-Exposed Flaws

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Bank of America Stock Drops After Q3 Earnings Miss and $1.2 Billion Penalty, as BofA Adds 1,000 Contractors to Fix Mythos-Exposed Flaws

Bank of America shares sank on Wednesday after the lender reported third-quarter revenue below expectations and absorbed a $1.2 billion penalty from U.S. regulators. In the same round of commentary, CEO Brian Moynihan disclosed that the bank had put 1,000 outside contractors to work patching software weaknesses exposed by Anthropic’s Mythos, a rare public accounting … Read more

Netflix Layoffs: NFLX to Cut About 1,000 Jobs, 6% of Workforce, Days Before Third-Quarter Earnings

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Netflix Layoffs: NFLX to Cut About 1,000 Jobs, 6% of Workforce, Days Before Third-Quarter Earnings

Netflix told employees on Wednesday that it will let go of roughly 6 percent of its staff, close to 1,000 positions, in its largest round of job cuts in years. The announcement arrives less than a week before the company reports third-quarter results and at a moment when the world’s biggest subscription streamer is under … Read more

Dell Technologies Stock Plunges 11% After Barclays Downgrade as AI Infrastructure Spending Fears Grow

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Dell Technologies Stock Plunges 11% After Barclays Downgrade as AI Infrastructure Spending Fears Grow

Dell Technologies shares plunged 11 percent on Wednesday, the steepest drop among a group of AI infrastructure companies that fell as investors questioned how quickly corporate customers will turn artificial intelligence experiments into the large-scale spending that Wall Street has already priced in. The selloff hit Dell hardest, but it spread to server makers, cloud … Read more

Nvidia (NVDA), AMD and Micron Stocks Slide as Chip Selloff Deepens on Hot Inflation Data and AI Financing Fears

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Nvidia (NVDA), AMD and Micron Stocks Slide as Chip Selloff Deepens on Hot Inflation Data and AI Financing Fears

Nvidia, AMD and Micron all closed sharply lower on Wednesday and extended their losses in early trading on Thursday, as a hotter-than-expected inflation report collided with growing unease over how the AI building boom is being paid for. Wall Street’s biggest artificial intelligence names took another beating this week, and the pain spread quickly from … Read more

U.S.–China Deal Near, But Tariff Storm Brews

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U.S.–China Deal Near, But Tariff Storm Brews

The United States and China are edging closer to a limited trade agreement that could ease some long-standing tensions between the world’s two largest economies. However, as negotiations gain momentum behind closed doors, a separate wave of escalating tariffs looms, raising concerns among businesses and economists about potential price shocks and renewed strain on global … Read more