Musk Wins Shareholder Vote on Massive Pay Plan That Could Reach $1 Trillion
The Vote Tesla shareholders overwhelmingly approved Elon Musk's massive pay package. Results announced Thursday at the Austin annual meeting showed 75% support among voting shares. The board recommended approval. Top proxy advisors Glass Lewis and ISS recommended voting against it. The pay plan consists of 12 tranches of shares granted if Tesla hits certain milestones […]
Lucid Narrows Production Guidance and Posts Wider-Than-Expected Loss
The Earnings Report Lucid delivered disappointing results for the second consecutive quarter. The EV maker posted an adjusted loss of $2.65 per share versus the $2.27 loss expected. Revenue came in at $336.6 million, well short of the $379.1 million estimate. Net loss for the quarter hit $978.4 million, or $3.31 per share, compared to […]
Layoff Announcements Surge to 21-Year High as AI and Cost-Cutting Drive Job Cuts
The Layoff Surge October was brutal for American workers. Employers announced 153,074 job cuts last month - nearly triple the 55,597 cuts in October 2024, according to Challenger, Gray & Christmas. That's the worst October in over 20 years and the highest total for a single month in Q4 since 2008, when the financial crisis […]
Snapchat Lands $400M Deal With Perplexity AI, Warns of User Decline Ahead
The Results Snap delivered a solid quarter and strong guidance. Q3 sales grew 10% year-over-year while the company narrowed its net loss to $104 million from $153 million last year. Adjusted EBITDA hit $182 million, crushing the $125 million StreetAccount estimate. For Q4, Snap projects adjusted EBITDA between $280-$310 million, topping the $255.4 million forecast. […]
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