Corporate Lunch
It’s shaping up to be a weak fourth quarter 2022 earnings season. The estimated earnings growth rate for the S&P 500 is -5.0%. 109 companies are reporting this week.
Microsoft is investing $10 billion (with a B) investment in ChatGPT-maker OpenAI.
Google may be sued by the Department of Justice over its digital advertising market dominance. I mean, the term “Google” is already in the dictionary. You can’t take it back.
Amazon announced a new $5 per-month unlimited, generic prescription drug delivery service.
Blackstone is in talks with Bain to sell about half of its stake in Indian REIT Embassy Office Parks in a $480 million deal.
Big Blue (aka IBM for anyone born after 1990) had a pretty good quarter.
Elon Musk put on the Tesla CEO hat and joined the company’s earnings call. He said demand is strong and orders are at almost twice the rate of production.
Bank of America, JPMorgan, and other banks are teaming up to create a digital wallet to rival Apple Pay.
The nation’s largest employer, Walmart, is raising its minimum wage to $14 an hour for store employees. The retail giant employs 2.3 million associates across the globe, jeepers.
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