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Uber Cuts 10% of its Workforce to Fund a $10 Billion Robotaxi Bet
Insider Monkey14d agobearish
Uber Cuts 10% of its Workforce to Fund a $10 Billion Robotaxi Bet

Uber Technologies, Inc. (NYSE:UBER) announced on September 2 it will cut roughly 10% of its global corporate workforce, about 3,300 of its 34,000 employees, its largest layoffs since the pandemic, CNBC reported. CEO Dara Khosrowshahi told employees the changes are “designed to do two things: make Uber simpler and faster and create more capacity to […]

Investing.com14d agobearish
JPMorgan cuts off lending to Aschenbrenner’s AI fund after historic losses - FT

Investing.com -- JPMorgan Chase & Co (NYSE:JPM) has terminated its prime brokerage lending relationship with Leopold Aschenbrenner’s hedge fund, Situational Awareness, following record-setting losses linked to a broader downturn in artificial intelligence stocks, according to reporting by the Financial Times. The decision by Wall Street's largest bank cuts off a vital source of leverage for the mid-twenties investor, whose fund suffered the largest dollar loss in hedge fund industry history duri

1 Russell 2000 Stock to Consider Right Now and 2 That Underwhelm
StockStory14d agobearish
1 Russell 2000 Stock to Consider Right Now and 2 That Underwhelm

Small-cap stocks in the Russell 2000 (^RUT) can be a goldmine for investors looking beyond the usual large-cap names. But with less stability and fewer resources than their bigger counterparts, these companies face steeper challenges in scaling their businesses.

Why Did Freeport-McMoRan Stock Drop On Doubts Over A Tariff It Would Gain From?
Trefis14d agobearish
Why Did Freeport-McMoRan Stock Drop On Doubts Over A Tariff It Would Gain From?

Freeport-McMoRan (FCX) stock fell 6.6% on Thursday to close at $71.21, while the S&P 500 slipped 0.6%. Copper sold off on surging yields and on reports that the White House has yet to decide on copper tariffs, raising concern the plan could be dropped over worries about higher manufacturing costs. That doubt lands on the part of Freeport that management says a tariff would help: its US business.

Block's AI layoffs taught it to be a far more efficient company: CFO
Yahoo Finance Video14d agobearishVIDEO
Block's AI layoffs taught it to be a far more efficient company: CFO

Block, Inc. (XYZ) reduced its workforce by 40% earlier this year as it committed to a wider adoption of AI tools. Block CFO Amrita Ahuja sits down with Yahoo Finance Executive Editor Brian Sozzi to discuss this choice and the results from becoming a leaner, more AI-centric company.

Lululemon’s Guidance Cut Sent Shares Down 18%, Was It An Overreaction?
Insider Monkey14d agobearish
Lululemon’s Guidance Cut Sent Shares Down 18%, Was It An Overreaction?

Lululemon Athletica Inc. (NASDAQ:LULU) recently issued its second guidance cut of the year, and investors responded immediately by sending shares down roughly 18%. That selloff came despite an EPS beat, but the headline result was heavily supported by a tariff refund rather than underlying business strength. Brand sentiment, traffic, and leggings sales are all weakening […]