Tech earnings due out this week: Amazon, Microsoft in focus
01/30/2024 00:18
A majority of the Magnificent Seven component stocks — Alphabet (GOOG, GOOGL), Amazon (AMZN), Apple (AAPL), Meta Platforms (META), Microsoft (MSFT) — are set to report fourth-quarter earnings this week. Yahoo Finance Live co-hosts Rachelle Akuffo and Akiko Fujita examine expectations on Amazon's business segments and AI tech drivers after Microsoft surpassed a $3 trillion market cap. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.
Reuters
Amazon, iRobot abandon merger in face of EU opposition
Amazon and robot vacuum maker iRobot said Monday they would end their plans to merge in the face of opposition from EU antitrust regulators. iRobot announced a significant restructuring plan to reduce costs and said it would cut about 31% of its workforce, or 350 jobs. The company also said founder Colin Angle has stepped down as its CEO.
Bloomberg
Blackstone Hires Ex-Diplomat Nides As Firm’s Influence Grows
(Bloomberg) -- Blackstone Inc. is hiring Washington and Wall Street power broker Thomas Nides, bringing on the former diplomat as the firm navigates its growing reach as a $1 trillion powerhouse.Most Read from BloombergTraders Line Up for ‘Once-in-a-Generation’ Emerging Markets BetBlackstone Is Building a $25 Billion Empire of Power-Hungry Data CentersTrump Cash Stockpile at Risk From $450 Million Dual VerdictsEvergrande Set for Liquidation as China Property Crisis Drags OnAmazon Drops iRobot De
The Wall Street Journal
iRobot Has a Major Cleanup After Scrapped Amazon Deal
The [announcement Monday morning](https://www.wsj.com/business/retail/amazon-irobot-scrap-acquisition-deal-7072122f?mod=hp_lead_pos4) that Amazon and iRobot have called off their merger may be the least surprising news of the day. The deal has [looked iffy for a year now](https://www.wsj.com/articles/amazons-roomba-deal-keeps-getting-messier-73f09651) as regulators have signaled growing concerns about its effect on competition, and it [wasn’t considered a slam dunk](https://www.wsj.com/articles/amazons-roomba-deal-has-shades-of-fitbit-11659725501?mod=article_inline) even before that. The original deal announced in August 2022, and iRobot’s shares ended that year 21% below Amazon’s offer price of $61 per share.