Reuters reports Saudi Arabia will chop its oil exports in August to the lowest level of the year. Oil prices have sold off sharply in the past month, and the move might stabilize the market.
Twitter Inc. (NASDAQ: TWTR) added a new chief financial officer. Ned Segal comes from tax software company Intuit, where he was the head financial officer of the small business group. Twitter has lost key executives on an ongoing basis for the past two years as it has struggled to make money on its 300 million users. The stock has been battered because of its lack of progress.
Time Inc. (NYSE: TIME) may rebrand itself, according to The Wall Street Journal. Time has been the company’s flagship brand since 1923. However, Time’s print products are a marker of its past, and not what management believes is its future, and it may want a corporate name more reflective of this.
Snap Inc. (NYSE: SNAP) shares dropped below their initial public offering price as one of its IPO underwriters, Morgan Stanley, cuts its rating on the stock. Snap is under siege from other products, particularly Facebook Inc.’s (NASDAQ: FB) Instagram. Morgan Stanley analyst Brian Nowak wrote:
SNAP’s ad product is not evolving/improving as quickly as we expected and Instagram competition is increasing.
Bloomberg reported that most self-driving car companies will fail according to one expert:
The race to field the first autonomous car will be a Darwinian exercise, with more than 50 major competitors reduced to a handful of winners over the next decade, according to a new study by consultant AlixPartners LLP.
“You’ve got 50 major players trying to develop autonomous software and you’ll probably get three or four of them who will win,” John Hoffecker, global vice chairman of the Southfield, Michigan-based firm, said in a speech Tuesday to the Automotive Press Association in Detroit. “There will be billions and billions of dollars lost in bets that were put in the wrong place.”
Amazon.com Inc. (NASDAQ: AMZN) said Prime Day, a major sales event for the company, will be a smash success. According to CNBC:
Amazon.com Inc said on Tuesday its Prime Day sale was on track to be the biggest shopping event in its history by sales.
The world’s largest online retailer said customers ordered more than three times as many Echo-family speakers than during Prime Day 2016, which at the time broke records for Amazon devices.
The Average American Has No Idea How Much Money You Can Make Today (Sponsor)
The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.
But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.