Bret Taylor will be co-CEO alongside Marc Benioff, who built Salesforce into one of the world’s largest enterprise software companies. Taylor was quickly promoted at Salesforce after the company acquired his productivity software start-up Quip in 2019. Taylor has been a prominent voice on earnings calls and played a key role in Salesforce’s Slack acquisition.
Salesforce reported fiscal third-quarter earnings on Tuesday. Salesforce named Bret Taylor to be co-CEO alongside current CEO Mark Benioff. Salesforce said earnings per share for the December quarter would be between 72 and 73 cents, lower than Refinitiv analyst expectations of 81 cents. Salesforce reported fiscal third-quarter earnings on Tuesday for the period ending Oct.
Microsoft shareholders voted for the proposal, backed by Arjuna Capital, at the company’s annual general meeting. The move comes after a board-level investigation into co-founder Bill Gates’ activities almost two decades earlier. Microsoft shareholders on Tuesday approved a proposal asking the board to publish a report on the effectiveness of its workplace sexual harassment policies
Apple stock was up more than 2% on Tuesday as stocks across industries tumbled on concerns of the new omicron Covid variant, showing investors see the company as a safe haven during market uncertainty. Needham analyst Laura Martin said investors turned to Apple on Tuesday because the company has prodigious cash flow, allowing it to
David Marcus, the head of Facebook parent company Meta’s cryptocurrency efforts, announced on Tuesday he will be leaving the company at the end of the year. Marcus’s departure comes after the company tried and failed to launch a cryptocurrency that could be used by online users to send money to anyone in the world via
Elon Musk described a dire situation with SpaceX’s development of Raptor rocket engines the day after Thanksgiving in a company-wide email, a copy of which was obtained by CNBC. “The Raptor production crisis is much worse than it seemed a few weeks ago,” Musk wrote. Raptor engines power the company’s Starship rocket, with Musk adding
Defense attorneys wrapped up their questioning of Theranos founder Elizabeth Holmes on Monday, her fourth day on the stand. Holmes gave emotional testimony, accusing Theranos ex-president Ramesh “Sunny” Balwani of physical and psychological abuse. Prosecutors now get their opportunity to cross-examine Holmes, who is facing 11 counts of wire fraud and conspiracy to commit wire
HashiCorp, a developer of software for managing cloud infrastructure, said on Monday that it plans to sell shares in its IPO for $68 to $72 each. The “remote-first” company is poised to cash in on a booming market for high-growth cloud software companies. Revenue in the latest quarter climbed 49% to $82.2 million, while the
Parag Agrawal, Twitter’s incoming CEO, is an engineer who worked his way up over the past decade to become the company’s technology chief. Agrawal has been Jack Dorsey’s closest partner in thinking about the future of the Twitter platform and decentralizing social media, a former company executive told CNBC. “He’s been my choice for some
Tesla will spend at least $1.06 billion on a new vehicle factory in Austin, Texas, according to public filings. Construction on facilities intended for body work, stamping, casting, painting, and full vehicle assembly are scheduled to be completed by Dec. 31. The permits show that Tesla’s previously announced expansion on the edge of the Colorado
Rocket Lab CEO Peter Beck has dramatically changed his tune on reusing rockets, a practice made increasingly popular by Elon Musk’s SpaceX. “I think anybody who’s not developing a reusable launch vehicle at this point in time is developing a dead-end product because it’s just so obvious that this is a fundamental approach that has
Elon Musk’s SpaceX is set to launch a first-of-its-kind planetary defense mission for NASA in the early hours of Wednesday morning. “We’re smashing into an asteroid,” NASA’s Launch Services Program senior launch director Omar Baez said. The mission is known as the Double Asteroid Redirection Test (or DART). NASA is trying to learn how to
Zoom exceeded analysts’ estimates for the quarter and issued better-than-expected guidance. The company called off its planned $14.7 billion Five9 acquisition during the quarter. Zoom reported better-than-expected quarterly earnings on Monday, while warning investors of a revenue slowdown at the video-chat company as the pandemic comes to an end. Here’s how the company did: Earnings:
The leadership of SpaceX’s rocket business has been shaken up, CNBC has learned, including the departure of two vice presidents. SpaceX vice president of propulsion Will Heltsley has left, multiple people familiar with the situation told CNBC, having been with the company since 2009. Lee Rosen, SpaceX vice president of mission and launch operations, left
Shares of rocket builder Astra surged in trading on Monday after the company reached orbit for the first time over the weekend. The company’s rocket LV0007 launched from the Pacific Spaceport Complex in Kodiak, Alaska, carrying a test payload for the U.S. Space Force. “Getting to orbit was really hard. Astra and only a few
Astra Space reached orbit for the first time with rocket LV0007 on Saturday. “This is an incredibly hard thing to do,” Astra CEO Chris Kemp said on the company’s webcast. Astra joins SpaceX, Rocket Lab and Virgin Orbit in the group of U.S. companies that have reached orbit with a privately-funded rocket. Astra Space reached
Space company Firefly is preparing for the second orbital launch attempt of its Alpha rocket, as the venture looks to build out the foundation of its business. “Firefly is aiming to be the next SpaceX, a very transformative space transportation company,” Firefly CEO Tom Markusic told CNBC. The company recently gave CNBC an inside look
Start-up Avegant has built an LED light engine that could enable device manufacturers to build small, stylish augmented reality smart glasses. I demoed Avegant’s light engine in October and was blown away by the crystal clarity of the AR visuals created by the component. I recently tried a pair of prototype smart glasses from Avegant
Theranos founder Elizabeth Holmes was called to the stand in her criminal trial on Friday. After 11 weeks of witnesses called by the prosecution, the defense began to make its case Friday morning. The defense hadn’t indicated whether Holmes would testify. SAN JOSE, CALIF — A smiling Elizabeth Holmes took the stand on Friday to
Canadian satellite communications company Telesat went public Friday on the Nasdaq, bringing another space pure-play stock to the market. The listing came following an exchange with Telesat’s shareholders, with the company effectively taking the place of formally public Loral Space & Communications. Telesat’s core growth project is the low Earth orbit broadband satellite network it’s
German laser communications company Mynaric recently listed on the Nasdaq, and CEO Bulent Altan, a former SpaceX executive, spoke to CNBC about the company’s U.S. initial public offering. Mynaric makes optical communication terminals, a device which uses a laser to send data from one point to another. Satellite companies are the firm’s target customer base.
Sierra Space, the subsidiary of private aerospace contractor Sierra Nevada Corporation, raised $1.4 billion in new capital. The company’s valuation jumped to $4.5 billion following the raise, with investors including General Atlantic, Coatue, and Moore Strategic Ventures, as well as the funds of private equity firms BlackRock and AE Industrial Partners. Sierra Space has two
More Americans between the ages of 12 and 17 are using TikTok than Instagram on a weekly basis, according to survey findings published by Forrester on Thursday. Facebook said last month that it was trying to appeal better to younger users with its services, including Instagram. “We heard from Gen Z youth that they find
Jeff Bezos’ Blue Origin raised its offer to cover NASA costs of an astronaut lunar lander from $2 billion to “over $3 billion” as the company battled in federal court. The sweetened offer came as Bezos’ company fought NASA’s decision to solely award SpaceX with a $2.9 billion contract under the agency’s Human Landing System
Around 30 million people use Grammarly each day. The start-up doesn’t see a direct competitor, although Microsoft offers some similar capabilities. Grammarly, a start-up whose software highlights issues as people write in its web app and other programs, said Wednesday that it sports a $13 billion valuation after taking on $200 million in new funding
Even as prices for digital currencies have soared throughout 2021, Nvidia has not cashed in on making the digital “shovels” for miners. In March, Nvidia introduced versions of its chips specifically targeted at cryptocurrency pros called CMP. Nvidia said on Wednesday that CMP sales declined 60% sequentially to $105 million in the most recent quarter.
Elon Musk on Wednesday said SpaceX is “hoping” to launch the first orbital flight test of its mammoth Starship rocket in January, depending on testing and regulatory approval. Starship is the massive, next-generation rocket SpaceX is developing to launch cargo and people on missions to the moon and Mars. The company’s next major step in testing Starship
Cisco fell short of analysts’ estimates on revenue in the quarter. The company also issued guidance that missed analysts’ predictions. Higher component prices and other costs are pressuring the company’s gross margin. Cisco shares tumbled as much as 8% in extended trading on Wednesday after the computer networking company reported quarterly revenue that fell short
Nvidia reported third fiscal quarter earnings after the bell on Wednesday. Nvidia stock has been on a big run over the past year, with shares up more than 123% so far year-to-date. Nvidia stock rose over 5% in extended trading after it reported earnings on Wednesday for its third fiscal quarter that beat expectations for
Microsoft is shifting to an annual release cycle for Windows 10, which will be supported through 2025. The Windows 11 release process is moving more swiftly than the company had expected, and Microsoft is now making it available to more devices. Windows remains critical to Microsoft’s business, contributing about 13% of revenue. Microsoft made a