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Search resuls for: "Denny Jacob"


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☆ Snapchat Parent’s Quarterly Sales Drop
  + stars: | 2023-04-28 | by ( Meghan Bobrowsky | Denny Jacob | ) www.wsj.com   time to read: 1 min
Jack Brody, Snap Inc., vice president of product, at the Snap Partner Summit last week. Photo: frederic j. brown/Agence France-Presse/Getty ImagesSnap Inc. suffered its first quarterly sales drop and indicated a revenue rebound would be slow as the social-media company grapples with disruptions in the digital ad market. Snap generated $988.6 million in revenue in the first quarter, a 7% drop from the year-ago figure, the company behind the popular social media app Snapchat said Thursday. The figure was short of what Wall Street expected, according to analysts surveyed by FactSet.
☆ Tupperware Engages Financial Advisers as Near-Term Liquidity Faces Pressure
  + stars: | 2023-04-08 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
Tupperware products became available in 1946 when chemist Earl Tupper first offered a plastic container with an airtight lid. Tupperware Brands Corp. on Friday said it engaged financial advisers to improve its capital structure. The food-storage container company said the advisers will assist in securing supplemental financing. Tupperware also said it’s reviewing its real-estate portfolio and is exploring right-sizing efforts, among other measures.
☆ Activision Proposes Settlement in DOJ Lawsuit Over Esports Pay
  + stars: | 2023-04-04 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
The U.S. Justice Department is reviewing a proposed settlement to its antitrust lawsuit against Activision Blizzard Inc. after accusing the company of imposing rules that limited competition and suppressed wages for players in two of its videogame franchises’ professional esports leagues. The department alleged that in two of the esports leagues owned Activision, the company and the independently owned teams in each league implemented a so-called Competitive Balance Tax. The tax was structured to penalize teams in the “Overwatch” and “Call of Duty” leagues if a team’s player compensation exceeded a threshold set by Activision, the complaint alleges.
☆ Justice Department Sues Activision Over Esports Leagues
  + stars: | 2023-04-04 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
The U.S. Justice Department on Monday said it filed an antitrust lawsuit against Activision Blizzard Inc. alleging that the company imposed rules that limited competition for players in two of its videogame franchises’ professional esports league and suppressed wages for players in those leagues. The department said its complaint alleges that in two of the esports leagues owned by the videogame company, Activision and the independently-owned teams in each league implemented a so-called Competitive Balance Tax. The tax was structured to penalize teams in the “Overwatch” and “Call of Duty” leagues if a team’s player compensation exceeded a threshold set by Activision, the complaint alleges.
☆ More States Join Antitrust Lawsuit to Block JetBlue, Spirit Merger
  + stars: | 2023-03-31 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
Attorneys general from California, Maryland, New Jersey and North Carolina on Friday joined an antitrust lawsuit seeking to block JetBlue Airways Corp.’s takeover of Spirit Airlines Inc.“This merger could decrease competition in air travel, leading to fewer flight options and increased costs for travelers,” said North Carolina Attorney General Josh Stein . “A merger might benefit the airlines, but it could harm their customers.”
☆ Virgin Orbit Holdings to Cut Workforce by 85%
  + stars: | 2023-03-30 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/virgin-orbit-holdings-to-cut-workforce-by-85-f7f40057
☆ Satellite Operators SES, Intelsat Discuss Merger as Industry Looks to Consolidate
  + stars: | 2023-03-29 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
Starlink, operated by Elon Musk’s SpaceX, uses a fleet of satellites to enable what is designed to be high-speed internet connections. Satellite operator SES SA on Wednesday said it is in talks with Intelsat about a possible combination, the latest example of satellite-internet providers seeking to merge as competition intensifies. Any deal between the two companies would position them to better compete with Starlink, the satellite-internet service operated by Elon Musk’s SpaceX.
☆ Disney to Start Its 7,000 Job Cuts This Week
  + stars: | 2023-03-27 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
The company also plans to slash $5.5 billion in costs. Walt Disney Co. said it would start notifying workers that they are being laid off, as part of the company’s previously announced plan to cut 7,000 jobs. The entertainment company this week will notify employees whose positions are affected in the initial phase of job cuts, according to a note to employees from Chief Executive Robert Iger that was viewed by The Wall Street Journal.
☆ Disney to Start Laying Off 7,000 Employees This Week
  + stars: | 2023-03-27 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
The company also plans to slash $5.5 billion in costs. Walt Disney Co. said it would start notifying workers that they are being laid off, as part of the company’s previously announced plan to cut 7,000 jobs. The entertainment company this week will notify employees whose positions are affected in the initial phase of job cuts, according to a note to employees from Chief Executive Robert Iger that was viewed by The Wall Street Journal.
☆ FedEx Earnings Fall During Shipping Slowdown
  + stars: | 2023-03-17 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
FedEx workers sort packages in New York City. FedEx Corp.’s earnings fell for the second straight quarter, as a slowdown in shipping collides with turbulent economic conditions. The delivery company said that ongoing cost cuts and higher shipping rates it charges led to improvements at its Ground and Freight divisions, while its Express unit struggles to cope with a decrease in shipping volumes.
☆ YouTube to Raise Prices on TV Offering
  + stars: | 2023-03-16 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
Existing subscribers will see the price change in April. YouTube on Thursday said it is raising the price of its TV subscription offering, citing increasing content costs. The Alphabet Inc.-owned video platform said the monthly cost will increase for the first time in three years to $72.99 from $64.99. The company first offered it for $35 a month in 2017.
☆ FedEx Raises Earnings Outlook Despite Shipping Slowdown
  + stars: | 2023-03-16 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
FedEx workers sort packages in New York City. FedEx Corp.’s stock climbed more than 11% in after-hours trading as the delivery company raised its outlook and said it cut more of its costs after earnings declined for the second straight quarter. The delivery company said that by May it would reduce its U.S. head count by 25,000, among other expense reductions. Shares rose to $227.25.
☆ DocuSign Shares Slide 22% as Margins Face Scrutiny
  + stars: | 2023-03-10 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
DocuSign plans to reinvest savings in areas of product development with an eye on growth. DocuSign Inc. shares lost more than a fifth of their value Friday after the company warned of a worsening macroeconomic backdrop and analysts raised concerns about stepped-up competition for e-signature options. Shares of the e-signature company were down 22% to $50.34 in midday trading. The stock is down about 49% over the last 12 months.
☆ DocuSign Shares Slide 23% as Margins Face Scrutiny
  + stars: | 2023-03-10 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
DocuSign plans to reinvest savings in areas of product development with an eye on growth. DocuSign Inc. shares lost more than a fifth of their value Friday after the company warned of a worsening macroeconomic backdrop and analysts raised concerns about stepped-up competition for e-signature options. Shares of the e-signature company closed 23% lower to $49.69. The stock is down about 47% over the last 12 months.
☆ Samuel Adams Brewer’s Finance Chief Steps Down
  + stars: | 2023-03-07 | by ( Denny Jacob | ) www.wsj.com   time to read: +1 min
Boston Beer Co. said Tuesday that Frank Smalla is stepping down as treasurer and chief financial officer to join a KKR -backed private-equity company. Mr. Murphy is currently the chief accounting officer, a position he has held since August 2015. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. PREVIEW Mr. Smalla, who informed the company of his decision on Friday, is leaving to be chief financial and operating officer with the KKR-backed company. Mr. Smalla was named treasurer and CFO in February 2016, according to the company’s website.
☆ Zoom Revenue Up on Growth From Big Customers
  + stars: | 2023-02-28 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
Zoom Video Communications Inc. posted higher sales in the fourth quarter on strong growth from enterprise customers and forecast profit ahead of Wall Street expectations. The videoconferencing company on Monday said sales grew 4% to $1.12 billion, just ahead of the $1.1 billion expected by analysts recently polled by FactSet. Enterprise revenue rose 18% compared with last year, while online revenue, which measures individual customers, fell 10%.
☆ Intuit Names Next CFO Following Michelle Clatterbuck’s Planned Departure
  + stars: | 2023-02-23 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
Intuit Inc. on Thursday named Sandeep Singh Aujla as its next chief financial officer following Michelle Clatterbuck’s pending departure. The tax preparation software maker said Mr. Aujla, currently senior vice president of finance of its small business and self-employed group as well as its technology organization, will take over as CFO effective Aug. 1. Ms. Clatterbuck, who has served as CFO since February 2018, plans to step down on July 31. Write to Denny Jacob at denny.jacob@wsj.comCopyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
☆ Cisco Raises Outlook as Its Earnings Top Expectations
  + stars: | 2023-02-15 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
Cisco’s prediction for its current quarter came in above Wall Street estimates. Cisco Systems Inc. raised its outlook for the year after posting better-than-expected results, a bright spot among technology companies facing continuing challenges from inflation and other macroeconomic impacts. The results beat Cisco’s forecast for the quarter on both the top and bottom lines, and its outlook for the current quarter also came in ahead of Wall Street estimates, according to FactSet.
☆ Barney Is Back With a Reboot, New Look
  + stars: | 2023-02-13 | by ( Jennifer Calfas | Denny Jacob | ) www.wsj.com   time to read: 1 min
Barney is coming back. Mattel Inc. said Monday it is relaunching Barney, the purple dinosaur who was a staple of children’s television in the 1990s and early 2000s, as an animated character. The reimagined Barney will appear in film, television and other content, including a new animated series set to come out in 2024.
☆ Barney, the Purple Dinosaur, Is Making a Comeback
  + stars: | 2023-02-13 | by ( Jennifer Calfas | Denny Jacob | ) www.wsj.com   time to read: 1 min
Barney is coming back. Mattel Inc. said Monday it is relaunching Barney, the purple dinosaur who was a staple of children’s television in the 1990s and early 2000s, as an animated character. The reimagined Barney will appear in film, television and other content, including a new animated series set to come out in 2024.
☆ GM, GlobalFoundries Sign Chip Supply Deal
  + stars: | 2023-02-09 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/gm-builds-semiconductor-pipeline-with-globalfoundries-partnership-11675968495
☆ Meta Platforms Shares Surge on Cost Cuts, Stock Buyback
  + stars: | 2023-02-02 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
Meta Platforms Inc. shares jumped Thursday after a tough 2022, when a slowdown in advertising spending, among several factors, weighed down on the stock. Facebook parent Meta Platforms Inc. shares are on pace for their best day in nearly a decade after the company embraced investor-friendly moves including boosting its stock through a $40 billion buyback and cutting expenses in the face of increased competition. Shares of the social-media company jumped 27% to $193.95 in midday trading Thursday and are up 61% year to date. The stock is on pace for its largest percentage increase since July 2013, when it rose nearly 30%.
☆ Hasbro to Cut Global Workforce by 15%
  + stars: | 2023-01-27 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
The toy company Hasbro said that it would cut around 1,000 jobs. Hasbro Inc. on Thursday said it would eliminate 15% of its global workforce this year in the latest indication that economic uncertainty is spreading to sectors beyond technology and media. The toy and entertainment company said the reduction, which will comprise around 1,000 positions, will start to take effect within the next few weeks.
☆ Tesla Stock Rallies On Optimistic Outlook From Elon Musk
  + stars: | 2023-01-26 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
Tesla Inc. shares rallied after Elon Musk struck an upbeat tone about demand for the company’s vehicles and its ability to navigate a potential economic downturn. Shares leapt more than 8% to $156.72 in Thursday morning trading and are up 27% year to date. The stock is bouncing back after suffering its worst performance ever last year and is on pace for its largest percent increase since July 2022. It currently is the second best performer in the S&P 500.
☆ IBM to Cut 3,900 Jobs Amid Broader Tech Slowdown
  + stars: | 2023-01-26 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
IBM said its fourth-quarter revenue was $16.69 billion compared with $16.70 billion a year earlier. International Business Machines Corp. on Wednesday joined the wave of companies making layoffs, saying it would cut about 3,900 jobs. The cuts will stem from Kyndryl Holdings Inc., the IT services business that IBM spun off last year, and its healthcare divestiture, from which the company will incur about a $300 million charge, a spokesman confirmed.
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