Top Company News of the Day: Twitter, Target, Plastiq, Nvidia

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May 25th, 2023 3:41 am EST

Twitter Event With DeSantis Hits Technical Issues

Twitter suffered apparent technical problems during an event where Elon Musk planned to host the Republican’s presidential campaign announcement on the platform.

Target Lands in Culture-War Crosshairs Over Pride Month

The retailer’s halt to its sale of some Gay Pride items fuels criticism it gave in to pressure from anti-LGBT comments.

Payments Processor Plastiq Files Bankruptcy After Aborted SPAC Deal

Payments processor Plastiq has filed for bankruptcy, less than a year after an aborted merger with a special-purpose acquisition company and weeks after Silicon Valley Bank’s collapse temporarily halted its operations.

More Airlines Are Encountering Near Collisions-and No One Knows Why

As summer travel season kicks off, regulators and carriers are scrambling to address potential safety threats.

Leon Black Wins Dismissal of Rape Suit

A judge sided with the private-equity billionaire in a suit brought by Black’s ex-lover.

Nvidia Poised for Record Sales as AI Demand Kicks In

The graphics-chip giant forecast a strong revenue bounce back for the current quarter, driven by growing appetite for generative AI technology.

Splunk Earnings Top Estimates, as Cost Cuts Boost Margins

The cyber security and data analytics software company posted better-than-expected results and lifted its full-year guidance.

Snowflake slashes forecast due to ‘unsettled demand,’ stock slumps after earnings

Shares of Snowflake sank nearly 13% in after-hours trading Wednesday after the data-software company cut its outlook for the full year.

Bill Ackman resurrects billionaire feud, saying Carl Icahn needs a friend

Bill Ackman posted a long tweet on Wednesday, arguing the situation at Icahn Enterprises reminds him of failed Archegos investment fund.

Petco Stock Sinks on Earnings Disappointment

The company reports a loss in its latest quarter, citing ‘a more cautious consumer.’

Source: Dow Jones Newswires