Check out the companies making headlines in midday trading. Tesla — Shares fell 2.8% after an internal memo said the electric vehicle maker is planning to lay off more than 10% of its global workforce . “As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity,” CEO Elon Musk said in the memo. Tesla had almost 141,000 employees as of December 2023. Goldman Sachs — Shares climbed 3.4% after the investment bank beat Wall Street’s first-quarter earnings expectations , reporting a 28% jump in profit to $4.13 billion from the year-earlier period due to a rebound in capital market activities. Goldman posted earnings of $11.58 per share on revenue of $14.21 billion for the period, while analysts surveyed by LSEG had called for earnings of $8.56 per share on revenue of $12.92 billion. Logitech — Shares dropped 6.4% after Morgan Stanley downgraded the computer peripherals stock to underweight, saying the market is “mis-pricing” the company’s “future growth algorithm.” Analyst Erik Woodring forecast only 3% annual revenue growth through fiscal 2027, which is below consensus. Salesforce — The customer relations management software stock shed more than 5%, becoming the biggest loser in the blue-chip Dow Jones Industrial Average, after The Wall S …
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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines in midday trading. Tesla — Shares fell 2.8% after an internal memo said the electric vehicle maker is planning to lay off more than 10% of its global workforce . “As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost reductions and increasing productivity,” CEO Elon Musk said in the memo. Tesla had almost 141,000 employees as of December 2023. Goldman Sachs — Shares climbed 3.4% after the investment bank beat Wall Street’s first-quarter earnings expectations , reporting a 28% jump in profit to $4.13 billion from the year-earlier period due to a rebound in capital market activities. Goldman posted earnings of $11.58 per share on revenue of $14.21 billion for the period, while analysts surveyed by LSEG had called for earnings of $8.56 per share on revenue of $12.92 billion. Logitech — Shares dropped 6.4% after Morgan Stanley downgraded the computer peripherals stock to underweight, saying the market is “mis-pricing” the company’s “future growth algorithm.” Analyst Erik Woodring forecast only 3% annual revenue growth through fiscal 2027, which is below consensus. Salesforce — The customer relations management software stock shed more than 5%, becoming the biggest loser in the blue-chip Dow Jones Industrial Average, after The Wall S …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
