1. Examining the tea bags
The Federal Reserve’s announcement about interest rates on Wednesday is eagerly anticipated by Wall Street. The Dow Jones Industrial Average was up 0.3% and the Nasdaq Composite was down 0.6% on Tuesday, the day before the announcement. The S&P 500 closed almost unchanged.
2. Not up to par
It was decent, but not excellent enough. Despite releasing revenue and results that exceeded forecasts, Alphabet and Microsoft both suffered a decline in their stock prices during extended trading on Tuesday. As the business revealed dismal ad revenue of $65.52 billion, which fell short of StreetAccount analysts’ projection of $65.94 billion, Alphabet shares fell by about 6%.
3. The Boeing malfunction
For the final three months of the year, Boeing posted a smaller loss than anticipated, but its future remains uncertain. As opposed to the analysts’ projected loss of 78 cents, the corporation declared an adjusted loss per share of 47 cents. During that time, there was an increase in both the demand and supply of aircraft.
4. UPS malfunctioning
UPS is laying off 12,000 workers. CEO Carol Tomé described 2023 as a “unique, and quite frankly, difficult and disappointing year” and stated that the shipping giant will save almost $1 billion in costs as a result of the layoffs. As the firm missed Wall Street’s revenue projections on Tuesday, UPS’s stock sank more than 8%.
5. Is it too much?
On Tuesday, a Delaware judge invalidated Elon Musk’s $56 billion Tesla salary, concurring with a complaint that the board had improperly determined Musk’s pay package. The judge remarked that Tesla’s 2018 pay plan for Musk was the biggest in the company’s history, which made it exceptional. Moreover, Musk became the world’s richest person as a result.
Source (CNBC)
