A tumultuous first quarter came to a close Friday, with markets rocked by banking chaos and more rate hikes from the Federal Reserve. Still, the three-month trajectory has been particularly good for tech stocks, including chipmaker Nvidia . Indeed, the Nasdaq-100 — which includes the top 100 stocks of the Nasdaq Composite — outperformed all … Read more
Virgin Orbit Holdings (ticker: VORB) fell 42.6% to about 20 cents after its aerospace launch said it would cut 85% of its workforce. The job cuts occurred “in light of the company’s inability to raise meaningful funding,” according to a filing. Virgin Orbit has been trying to raise additional funding since mid-March and has suspended … Read more
Shares of Micron Technology were slightly higher at the end of trading on Tuesday after the memory chip company posted financial results for its fiscal second quarter, which ended March 2, that were roughly in line with expectations as a weak market for PCs and smartphones continued to weigh on the company’s results. Micron also … Read more
UBS (UBS), the bank that bought Credit Suisse for about $3 billion, fell 0.9% after being downgraded from Buy to Hold by Jefferies analysts. Activision Blizzard (ATVI) rose 5.9% after Britain’s Competition and Markets Authority said it was no longer concerned that Microsoft (MSFT) would use its $68.7 billion deal to snag the video game … Read more