Arvind Jain, CEO Glean, on SaaS Monster stage during day one of Web Summit 2022 at the Altice Arena in Lisbon, Portugal.Harry Murphy | Sportsfile | Getty ImagesAI-powered search startup Glean said Tuesday it has raised $260 million in a funding round that values the tech company at $4.6 billion — more than double its last reported valuation. The Palo Alto, California-based firm, ranked No. 43 on this year’s CNBC Disruptor 50 list, has now raised more than $600 million to date from more than 20 investors.Glean competes with a herd of well-financed generative AI startups and tech giants, attempting to compete with Microsoft Copilot…
Author: usaeverydaylife
Some broadcasting notes from the NFL’s Week 1:1. So who had Bill Belichick having more broadcasting jobs than Ryan Seacrest? But there was Belichick on ESPN2 Monday night, playing the role of Charles Grodin to Peyton and Eli Manning’s David Letterman. His first-half spot during the New York Jets–San Francisco 49ers game was his debut as a permanent guest on ESPN’s “Monday Night Football with Peyton and Eli” — and it was excellent. The former Patriots head coach also has gigs with ESPN’s “The Pat McAfee Show,” the CW’s “Inside the NFL,” a 30-minute show with Peyton Manning on ESPN+, SiriusXM’s…
Check out the companies making headlines in midday trading: Ally Financial — Shares of the lender fell 17% after Ally Chief Financial Officer Russell Hutchinson said at an industry conference that credit challenges have increased during the third quarter, particularly with auto loans for retail customers. Mission Produce , Calavo Growers — Shares gained 20% after the avocado producer reported a year-over-year revenue increase of 24% for the fiscal third quarter. Mission Produce posted $324 million in sales, more than the $261.4 million posted in the year-ago period. Calavo Growers advanced around 12% after the rival producer reported adjusted earnings…
The tech slide has many investors anxious to buy the dip, but now is the time for caution, some say. Communication services and information technology stocks are the two worst-performing S & P 500 sectors this quarter, after having fallen into a correction from their peaks in July. Communication services is more than 11% off its 52-week high, while information technology is more than 12% off its recent high. For much of this year, any dips in the high-flying tech stocks have proven to be a buying opportunity for investors, as the promise of artificial intelligence has traders unable to…
Brian Niccol, incoming CEO of StarbucksAnjali Sundaram | CNBCNew Starbucks CEO Brian Niccol will focus on improving the chain’s U.S. business in his first 100 days on the job before he moves to fix its issues abroad, according to an open letter published on Tuesday.”… In some places — especially in the U.S. — we aren’t always delivering,” Niccol wrote in the open letter addressed to customers, employees and stakeholders. “It can feel transactional, menus can feel overwhelming, product is inconsistent, the wait too long or the handoff too hectic. These moments are opportunities for us to do better.”Niccol, who…
Cunaplus_m.faba | Istock | Getty ImagesInternet service providers like Charter, Verizon and Comcast have quietly scaled back their efforts to revive the Affordable Connectivity Program, an expired federal internet subsidy that helped low-income households pay for broadband.The $14.2 billion program provided a discount of up to $30 per month for some qualifying households and up to $75 a month for households on eligible tribal land. But it officially ended in June after Congress decided not to renew its funding.The ACP served roughly 23 million households, two-thirds of which had either inconsistent or zero internet access prior to enrolling, according to…
By Tim Britton, Chad Jennings and Kaitlyn McGrathEvery week, we ask a selected group of our baseball writers — local and national — to rank the teams from first to worst. Here are the collective results.All right, enough fooling around. There are less than three weeks left in the regular season, and these games are starting to carry real weight and significance. These wins and losses really mean something.The Mets got red-hot last week to stay very much in the hunt. The Royals swept the Twins over the weekend to take control of a wild-card spot. The Red Sox failed to…
Daniel Pinto, JPMorgan’s chief executive of corporate and investment bank. Simon Dawson | Bloomberg | Getty ImagesJPMorgan Chase shares fell 7% Tuesday after the bank’s president told analysts that expectations for net interest income in 2025 were too optimistic.The current estimate for NII — one of the main ways that banks earn money — of about $90 billion is too high given expectations for interest rate cuts, JPMorgan president Daniel Pinto told an audience at a financial conference.The figure “will be lower,” he said.The move was the New York-based bank’s worst drop since June 2020, according to FactSet.This story is…
Here are Tuesday’s biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight The firm said it is sticking with Apple as a top pick following its iPhone event on Monday. “Apple’s iPhone 16 launch event was as-expected, with new details on the Apple Intelligence rollout, a new Visual Intelligence feature, and iPhone pricing the most important incremental announcements.” Deutsche Bank resumes Tesla as buy Deutsche Bank resumed coverage of the electric vehicle maker and said it is a top pick. ” Tesla is in a league of its own and represents our highest conviction secular leader, poised to…
A green tea pod inside a Keurig brand coffee maker, Dec. 17, 2022.Gado | Archive Photos | Getty ImagesThe Securities and Exchange Commission has charged Keurig Dr Pepper over what the agency said are inaccurate claims by the company about the recyclability of its disposable K-Cup pods, the agency said Tuesday.Keurig has agreed to pay a $1.5 million civil penalty without admitting or denying the agency’s findings.As consumers have become more conscious of their carbon footprints, questions about K-Cups’ environmental impact have dogged Keurig for more than a decade. The pods’ inventor told the Atlantic that he feels bad “sometimes”…
