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Yahoo BusinessAug 10, 2022
Musk Sells $6.9 Billion of Tesla to Avoid Twitter Fire Sale

Elon Musk Sells Nearly $7 Billion Worth of Tesla Stock Amid Twitter Uncertainty (Yahoo Business)
Elon Musk changes plans, sells $6.9 billion in Tesla shares with Twitter trial looming - The Verge (Google Business News)

KiplingerAug 09, 2022
Stock Market Today: S&P, Nasdaq Extend Losing Streaks on Micron Demand Woes
The latest batch of corporate earnings updates sparked a selloff in stocks on Tuesday, with the tech-heavy Nasdaq leading the path lower. 

Travel stocks were hit particularly hard after Norwegian Cruise Lines (NCLH) reported its second-quarter results. For the three-month period, the cruise operator brought in revenue of $1.2 billion and recorded a per-share loss of $1.14, missing analysts' consensus estimates. And in the company's earnings call, CEO Frank Del Rio said that bookings in the second half remain below the "extraordinarily strong" levels they were at in 2019. This sparked a 10.6% drop in NCLH stock to a point not much above its pandemic lows. Other travel-related names like Royal Caribbean Cruises (RCL, -5.6%) and American Airlines (AAL, -2.7%) fell as well.

SEE MORE 10 Metaverse Stocks for the Future of Technology Meanwhile, Micron Technology (MU, -3.7%) followed in the footsteps of fellow chipmaker Nvidia (NVDA, -4.0%), whose revenue warning on Monday put pressure on tech stocks. This morning, MU said it anticipates challenging market conditions to last through its next fiscal year, sparked by lower demand for its memory chips.

"[The] memory industry, including Micron, is in the m

KiplingerAug 09, 2022
Amazon Adds Another Popular Smart Home Brand to its Amazon Prime Mix
That Roomba vacuum robot you were considering buying - or that's already patrolling your floors for dust bunnies - will soon have ties to your go-to online shopping service.

SEE MORE Alternatives to Amazon Prime for Free Shipping and More Amazon, which recently raised its Amazon Prime subscription price, is spending $1.7 billion to buy iRobot, the maker of the Roomba lineup of robot vacuum cleaners. This is Amazon's fourth-largest deal to acquire top brands offering popular consumer products. The iRobot purchase, pending shareholder approval at iRobot, follows the recent $3.9 billion acquisition of One Medical, a boutique primary care provider that directs Amazon deeper into the medical field. Amazon also spent $13.7 billion when it bought Whole Foods in 2017 and $8.45 billion buying MGM studios.

What does this mean for you? Just that the dots from famous brand names you know continue to connect to one name-brand owner: Amazon. And Amazon would like to make even more of your everyday and big-ticket purchases through Amazon Prime, not just on Amazon Prime Day. (If Amazon going deeper is a  turnoff, you can always step away from the online

NYTimes BusinessAug 09, 2022
Coinbase Reports 63% Drop in Revenue Amid Crypto Industry Slump
The cryptocurrency exchange lost more than $1 billion in the second quarter.
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