Intel Corp (NASDAQ:INTC) shares are seen nearly 2% higher in Wednesday's early premarket trade, after the firm announced after yesterday's close it plans to spin out its programmable chip division as a standalone business, starting in January and ultimately hold an initial public offering (IPO) within three years. Read more
Meta Platforms Inc (NASDAQ:FB) plans to lay off employees from its Reality Labs division on Wednesday, according to reporting from Reuters. Workers were informed through Meta’s internal discussion forum that they would find out about their employment status by early Wednesday morning, according to a source familiar with the matter.
Meta shares were down 0.45% in Wednesday's premarket deals, having fallen nearly 2% Tuesday to $300.94. Read more
Zoom Technologies Inc (NASDAQ:ZOOM), down 0.78% at $67.51, has unveiled Zoom Docs, a new "modular workspace" designed for collaboration, set to be widely available in 2024. This addition to Zoom's offerings aims to compete with established office suites such as Google Workspace and Microsoft 365, both of which have recently integrated their own AI-powered tools. Read more
General Motors Company (NYSE:GM) stock edged into positive territory in Wednesday's premarket, up 0.22% to $31.38, following third-quarter 2023 sales reported 21.4% higher year over year after a significant improvement to supply chain issues experienced in the comparative period last year. Auto analysts expected a 15% to 16% increase in 3Q sales for the overall industry.
The sales report comes as the United Auto Workers (UAW) strike has shown signs of slowly expanding, which will impact supply in the months ahead. Read more
Stellantis NV (NYSE:STLA, EPA:STLA), meanwhile, saw its sharesdown 0.27%, at $18.65, after it reported a third-quarter sales decline of 1% year-over-year. Read more
Payment token Ripple (XRP) pulled ahead of other digital assets in the crypto market today, rising 0.33% whilst most other ‘top’ coins and tokens fell, after the US Securities and Exchange Commission (SEC) copped another blow in its long-running litigation against XRP developer Ripple Labs. Read more
Elsewhere, Spotify Technology SA (NYSE:SPOT) has announced that its audiobook service will offer well over 150,000 titles to premium subscribers at no extra cost. In a move set to see it rival Amazon.com Inc (NASDAQ:AMZN) (Amazon.com Inc (NASDAQ:AMZN))’s Audible service, Spotify will offer subscribers some 15 hours worth of spoken books per month from a catalogue of over 150,000 titles. Read more