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Tech News
Netflix is laying off about 1,000 employees, or 6% of its global workforce, according to Variety. Co-CEOs Greg Peters and Ted Sarandos told staff in an email that the cuts will mostly affect product, technology, legal and human resources teams. The reductions come a week ahead of the company's quarterly earnings report.
ASML's Q3 2026 earnings showed net profit of €4.96 billion on €11.7 billion in sales, with CEO Christophe Fouquet saying customers are already booking advanced lithography machines for delivery in 2029 and 2030. The company will raise prices starting in 2027, fully reflected by 2028, even as it adds 30% capacity in both 2027 and 2028, and lifted its full-year sales guidance to €44-45 billion.
CNBC's Jim Cramer outlined a busy week ahead featuring quarterly results from Goldman Sachs, Wells Fargo, JPMorgan Chase, Citigroup and Johnson & Johnson on Tuesday, followed by the Consumer Price Index report Wednesday and earnings from chip equipment maker ASML. He said stocks rallied Friday after a volatile week marked by high Treasury yields, rising oil prices and an AI stock pullback.
President Trump said on Truth Social that the US will not attack Iran before the November 3 midterm elections, citing "productive discussions" between the two countries—a reversal from comments made a day earlier. He said the US naval blockade on Iran's ports remains fully in effect and that Iran still cannot be allowed a nuclear weapon. Oil prices rose during Thursday's trading session despite the de-escalatory tone.
Delta Air Lines reported third-quarter results showing a significant drop in net income and issued a more conservative forecast for coming periods. The announcement sent its shares down more than 3% in Friday morning trading.
Costco's chief financial officer confirmed on a late-September earnings call that a fan-favorite food court menu item is returning. The announcement came during the company's quarterly earnings discussion rather than a dedicated food court update.
Apple announced it will release its fiscal fourth-quarter 2026 results, with a conference call following at 2 p.m. PT featuring new CEO John Ternus alongside CFO Kevan Parekh. Last year's Q4 saw $102.47 billion in revenue and $27.47 billion in profit, and Apple has guided for 9-11% year-over-year revenue growth this quarter despite currency headwinds and supply constraints.
Tom Matthesen, who leads business advisory at Balentine, says business owners commonly overlook four areas—capital planning, talent, earnings quality, and succession planning—because daily operational pressures crowd out longer-term review. He argues these issues are interconnected, so weakness in one area tends to create problems in the others. Matthesen recommends owners address capital strategy proactively rather than waiting until a funding need arises from an acquisition or shortfall.
The SEC has floated an accounting rule change that would let public companies report financial results less often than the current quarterly cadence. Investors and market participants have pushed back strongly, warning the move could reduce transparency into corporate performance.
Nike CEO Elliott Hill told employees in a memo that the company is restructuring its operating model in a way that will reduce the number of roles at the company. The announcement coincided with weak first-quarter results, and Nike shares fell to new lows in Friday trading.
Accenture reported fourth-quarter profit of $1.99 billion, or $3.29 per share, up from $1.41 billion, or $2.25 per share, a year earlier. The consulting firm's stock rose following the results, which the company attributed partly to growing client demand for artificial intelligence services.
Nvidia announced a new $150 billion share repurchase authorization on Monday, adding to the $80 billion buyback plan it revealed in May alongside a dividend increase to 25 cents per share from 1 cent. The move comes as Nvidia's forward price-to-earnings ratio has fallen to 14.5, well below its five-year average of 62.9, even as analysts project net income near $385 billion in fiscal 2028.