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☆ Unity shares sink on weak guidance
▼ + stars: | 2024-02-26 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Unity Software shares plummeted 17% in extended trading on Monday after the gaming software company issued weaker-than-expected guidance for the current quarter. The company said going forward, it would only provide revenue guidance for its "strategic portfolio," which includes its engine, cloud and monetization business units. The company said first-quarter guidance for its strategic portfolio would come in between $415 million and $420 million. "We are right sizing our cost structure to grow from a healthy financial position," Unity said in a shareholder letter. WATCH: Unity Software cutting 25% of workforce

Persons: Unity, John Riccitiello, James Whitehurst, Riccitiello's Organizations: Unity Software, Luna, Red Hat, Unity, Software

☆ Unity Software to lay off 1,800 employees, or 25% of staff
▼ + stars: | 2024-01-08 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Unity Software said Monday that it's cutting 1,800 jobs, or about 25% of its workforce, in the latest round of layoffs at the gaming technology company. Unity said in a regulatory filing that the cuts are part of a corporate restructuring plan. In September, Unity announced a pricing change that upset numerous developers who rely on the company's technology to create video games. The following month, John Riccitiello retired as Unity's CEO, also stepping down as chairman and leaving the board. WATCH: Unity Software's John Riccitiello retiring as president and CEO

Persons: Unity, it's, John Riccitiello, James Whitehurst, Roelof Botha Organizations: Unity Software, Unity, Red, Unity's, Sequoia Capital

An aerial view of the San Francisco city skyline in California, U.S., October 28, 2021. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsSAN FRANCISCO, Nov 28 (Reuters) - Videogame software provider Unity Software (U.N) will eliminate 265 jobs or 3.8% of its global workforce and end an agreement with a digital video effects company founded by the "Lord of the Rings" director as part of a "reset," the company said on Tuesday. Tuesday's announcement includes termination of the professional services piece of an agreement Unity struck with movie director Peter Jackson's visual effects company Weta FX in 2021 after Unity purchased the technology and engineering division of Weta FX. As a result, 265 employees whose jobs are related to the agreement will be laid off, the company said. Reporting by Anna Tong in San Francisco Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Barria, John Riccitiello, Jim Whitehurst, Roelof Botha, Peter Jackson's, Whitehurst, Anna Tong, Matthew Lewis Organizations: REUTERS, FRANCISCO, Unity Software, San, Unity, Sequoia Capital, FX, Weta, Reuters, Thomson Locations: San Francisco, California, U.S, Berlin, Singapore, Bellevue , Washington

☆ Unity shares slide as the company posts a revenue miss and skips guidance
▼ + stars: | 2023-11-09 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Unity Software shares fell as much as 15% in extended trading on Thursday after the video-game engine maker reported a third-quarter revenue miss and refrained from issuing guidance. "Our results in the third quarter were mixed," Unity said in a letter to shareholders. Whitehurst sold Red Hat to IBM for $34 billion in 2019. He said he sees some parallels between Red Hat and Unity, including market leadership and revenue growth. Notwithstanding Thursday's move, Unity shares are down about 12% this year, while the S&P 500 index has gained 13%.

Persons: John Riccitiello, Jim Whitehurst, Whitehurst, Luis Felipe Visoso Organizations: Unity Software, StreetAccount, Unity, Red Hat, Management, Hat, IBM, Whitehurst Locations: China

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Top ranking Fed officials indicated rising yields on long-term U.S. Treasury bonds could steer the central bank from further increases in its short-term policy rate. Megacap stocks Microsoft (MSFT.O), Alphabet (GOOGL.O), Nvidia (NVDA.O) and Amazon.com (AMZN.O) added between 0.2% and 0.4% in premarket trading. All three major U.S. stock indexes closed higher on Monday, with energy (.SPNY) leading gains as supply worries ignited by Middle East tensions sparked a rally in crude oil prices. Rivian Automotive (RIVN.O) added 4.1% on a report that UBS upgraded the EV maker's stock to "buy" from "neutral".

Persons: Brendan McDermid, Raffi Boyadjian, Atlanta's Raphael Bostic, Neel Kashkari, Mary Daly, Christopher Waller, Israel, John Riccitiello, J.P.Morgan, Shashwat Chauhan, Ankika Biswas, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, PepsiCo, Dow, Nasdaq, Treasury, Federal, Columbus, Peoples, Microsoft, Nvidia, XM, Traders, JPMorgan Chase, Citigroup, Dow e, Rivian, UBS, EV, Alibaba Group, PDD Holdings, Baidu, Thomson Locations: New York City, U.S, Gaza, Minneapolis, Wells Fargo, Beijing, Bengaluru

☆ Here are 20 stocks I'm watching Tuesday, including Lilly, AMD and Goldman Sachs
▼ + stars: | 2023-10-10 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Here are some of the tickers on my radar for Tuesday, Oct. 10, taken directly from my reporter's notebook:If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. Harley-DavidsonRivian AutomotiveRealty IncomeMizuho lowers WalgreensJMP and Barclays lower RobinhoodBlockUnity Software CEO John Riccitiello out. James Whitehurst, former Red Hat chief in at UnityCiti takes Corning

Persons: Jim Cramer's, Davidson, John Riccitiello, James Whitehurst, Corning Organizations: Realty, Walgreens, Barclays, Unity Software, Red Hat, Unity Citi

☆ Stocks making the biggest moves premarket: Palantir, PepsiCo, Rivian and more
▼ + stars: | 2023-10-10 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Palantir Technologies — Shares of the data analytics company added 2.3% on news that the U.S. Army awarded the company a $250 million contract to test and develop artificial intelligence and machine learning. Unity Software — The game engine stock surged nearly 6% after the company said CEO John Riccitiello would retire. Rivian Automotive — Shares of the electric truck company rose 3% in premarket trading after UBS upgraded Rivian to buy from neutral. PepsiCo — Shares of the beverage giant added roughly 1% after a third-quarter earnings beat. Akero Therapeutics — The biotech company plummeted more than 63% after reporting initial trial data related to a Phase 2B study of cirrhosis drug efruxifermin.

Persons: John Riccitiello, James M, Whitehurst, Rivian, Davidson, Goldman Sachs, —, Jesse Pound, Sarah Min Organizations: U.S . Army, Software, UBS, PepsiCo —, LSEG, Ameris, Bancorp, Arm Holdings, JPMorgan, Deutsche Bank, Akero Therapeutics

☆ Stocks making the biggest moves midday: Block, Truist, PepsiCo, Rivian and more
▼ + stars: | 2023-10-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Solar companies — Shares of solar companies rallied Tuesday, putting the Invesco Solar ETF (TAN) on pace for its best day since March 21. The defense and aerospace companies rose Monday after the Israel-Hamas war began over the weekend. Rivian — Shares of the electric vehicle manufacturer rose more than 5% after UBS upgraded the stock to buy from neutral. Block — Shares added 5.5% after Bank of America reiterated its buy rating on the payments stock. Unity Software — The video game software company added 3.2%.

Persons: Skechers, SolarEdge, Hannon Armstrong, Baird, Rivian, Joseph Spak, Semafor, Jason Kupferberg, efruxifermin, John Riccitiello, James Whitehurst, Davidson, — CNBC's Pia Singh, Tanaya Macheel, Jesse Pound, Michelle Fox, Lisa Kailai Han, Samantha Subin Organizations: UBS, Palantir Technologies, U.S . Army, PepsiCo, LSEG, Sustainability, Bank of America, Electronic Arts, EA's FIFA, Technologies, Northrop Grumman, Hamas, Truist, Therapeutics, Unity Software, Unity, Arm, Deutsche Bank, JPMorgan, Arm Holdings Locations: Israel

☆ Morning Bid: 'Remarkable' US markets surf crosscurrents
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Stock futures are higher once again ahead of the bell today. As cash Treasury markets returned from Monday's Columbus Day holiday to a week of heavy long-term debt auctions, they were also greeted with rekindled optimism about the Federal Reserve's policy rate trajectory. Ten-year U.S. Treasury yields are set to kick off Tuesday's U.S. trading day at some 4.65% - almost a quarter of a percentage point below the peak set just after Friday's blowout September jobs report. Elsewhere, PepsiCo (PEP.O) edged 0.8% higher ahead of the beverage maker's third-quarter results and Unity (U.N) jumped 6.4% after the video-game software maker said its CEO John Riccitiello would retire.

Persons: Brendan McDermid, Mike Dolan, Lorie Logan, Logan, Philip Jefferson chimed, John Riccitiello, Christopher Waller, Neel Kashkari, Mary Daly, Raphael Bostic, Ed Osmond Organizations: New York Stock Exchange, REUTERS, Columbus, Federal, Dallas Fed, Treasury, Monetary Fund, IMF, World Bank, Fund, HK, Bloomberg, Alibaba, Baidu, PepsiCo, Reserve, San Francisco Fed, Atlanta Fed, PepsiCo NFIB Consumer, Reuters Messaging, Thomson, Reuters Locations: New York City, U.S, Israel, Marrakesh, China, Beijing, Minneapolis, San

☆ Unity CEO John Riccitiello is retiring from gaming software company after controversial pricing change
▼ + stars: | 2023-10-09 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +2 min

Unity CEO John Riccitiello is retiring from the gaming software company following a controversial pricing change that frustrated numerous developers. Riccitiello, who has been running Unity for nine years, will also step down as chairman and is leaving the board, the company said Monday. James Whitehurst, former CEO of Red Hat, will become Unity's interim CEO. Unity said it will begin searching for a permanent CEO and Riccitiello "will continue to advise Unity to ensure a smooth transition." In September, Unity announced a pricing change that upset numerous developers who rely on the company's technology to create video games.

Persons: John Riccitiello, James Whitehurst, Roelof Botha, Unity, It's, Riccitiello, John Riccitello Organizations: Red, Sequoia, Unity's, Unity

☆ Unity Software CEO to retire effective immediately
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: 1 min

Oct 9 (Reuters) - Video-game software maker Unity (U.N) said on Monday John Riccitiello would retire as chief executive officer, effective immediately. The company has appointed James Whitehurst as interim CEO and Roelof Botha as chairman, it said in a statement. He joined IBM through the acquisition of software company Red Hat, where he was president and CEO from 2008 to 2020. Riccitiello would continue to advise Unity and the board would initiate a process to appoint a permanent CEO. The company behind the Unity Engine software had in September rolled back key parts of a new "runtime fee" pricing policy that sparked backlash from gaming developers.

Persons: John Riccitiello, James Whitehurst, Roelof Botha, Whitehurst, Riccitiello, Samrhitha, Shilpi Majumdar Organizations: Unity, IBM, Hat, Thomson Locations: Bengaluru

☆ Unity CEO on Apple partnership: We're in the early innings of something big that's about to take off
▼ + stars: | 2023-07-19 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUnity CEO on Apple partnership: We're in the early innings of something big that's about to take offJohn Riccitiello, Unity Software CEO, joins 'Closing Bell Overtime' to talk Unity partnering with Apple on the 'Vision Pro' headset.

Persons: John Riccitiello Organizations: Apple, We're, Unity Software

☆ Unity shares rise 15% after company announces A.I. marketplace
▼ + stars: | 2023-06-27 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

AI companies will be able to distribute their software to game makers and charge for it through Unity's Asset Store. The surge in Unity's price comes as company officials have talked about the potential they see in AI in recent weeks. "I think AI will change gaming in a couple of pretty profound ways. Separately, the company was also given an overweight rating and a target price of $48 by Wells Fargo analyst Brian Fitzgerald in a note Tuesday. Before Unity started directing investor attention to AI, it was closely linked to headset efforts, such as Meta 's, because its software can be used to create virtual reality apps.

Persons: John Riccitiello, Wells, Brian Fitzgerald, Fitzgerald, Riccitiello Organizations: Unity's, Associated Press, Unity, Apple, Vision Pro Locations: Wells Fargo

☆ Unity stock jumps 17% on Apple Vision Pro partnership
▼ + stars: | 2023-06-05 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

The New York Stock Exchange welcomes Unity Software Inc. (NYSE: U) Friday, September 18, 2020, as they officially begin trading today. Unity shares surged 17% after Apple on Monday said it's working with the game-development software maker as part of the release of its Vision Pro headset. Apple is working to build the third-party ecosystem of apps that people will be able to use in the $3,499 device. The iPhone maker said Adobe , Cisco and Microsoft are among the companies creating Vision Pro apps. Unity, which helps developers incorporate advertising into their apps, was one of the companies hurt by Apple's iOS privacy changes.

Persons: it's, Susan Prescott, we've, John Riccitiello Organizations: New York Stock Exchange, Unity Software Inc, Unity, Apple, Cisco, Microsoft

☆ Unity to lay off 600 employees, or 8% of its workforce
▼ + stars: | 2023-05-03 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Unity CEO John Riccitiello speaks onstage during Day 1 of TechCrunch Disrupt SF 2018 at Moscone Center on September 5, 2018 in San Francisco, California. Unity Software announced plans to cut about 600 jobs, or 8% of its workforce, according to a company filing with the Securities and Exchange Commission Tuesday. Unity went public in 2020 pricing shares at $52 apiece, initially valuing the company at $13.7 billion. Unity eliminated 284 jobs in January and around 225 jobs in June of last year, according to a report from The Wall Street Journal. In January, Google revealed plans to lay off more than 12,000 workers, Microsoft disclosed plans to cut 10,000 employees and Salesforce announced plans to lay off 7,000 workers.

☆ Unity aims to open generative AI marketplace for video game developers
▼ + stars: | 2023-03-22 | by ( Anna Tong | ) www.reuters.com time to read: +2 min

March 22 - Unity Software Inc (U.N), producer of the eponymous video game development environment, aims to open a marketplace for generative artificial intelligence (AI) software, Chief Executive John Riccitiello told Reuters. Game developers routinely spend significant resources creating assets such as characters and sound effects. Major software firms have since announced a flurry of generative AI projects to capitalize on what is widely seen as game-changing technology. "In every video game in history, the dialogue was written by somebody," Riccitiello said in an interview on Tuesday. "But now what you can do with (generative AI) is give these characters motivation, personality, and objectives and then they can spawn dialogue that doesn't require a writer."

☆ There's no question there's some conservatism among ad buyers, says Unity Software CEO
▼ + stars: | 2022-11-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's no question there's some conservatism among ad buyers, says Unity Software CEOJohn Riccitiello, Unity Software CEO, joins 'TechCheck' to discuss the discipline he intends to bring to the company, Unity Software's quarterly earnings results and to what degree a slower consumer spending affects the advertising environment and products Unity Software offers.

☆ 8 companies Amazon, Microsoft, or Google might buy as they shop for deals amid the market downturn, including Workday, Unity, and Roku
▼ + stars: | 2022-09-15 | by ( Belle Lin | ) www.businessinsider.com time to read: +13 min

That means Amazon Web Services, Microsoft Azure, and Google Cloud could be poised for a merger-and-acquisition spree. As for cloud acquisitions, analysts said Amazon's cloud unit didn't often buy companies. Cybersecurity has been a greater focus for Microsoft, AWS, and Google Cloud after the hack of the IT-software company SolarWinds in 2020. In 2019, Google purchased the data-analytics company Looker for $2.6 billion in cash under Google Cloud CEO Thomas Kurian. With Kurian at the helm, bringing with him the Oracle acquisition playbook, Google Cloud may now have a bigger M&A appetite.

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