will be laying off more than 600 workers following the tech giant’s decision to cancel its electric-car project. According to filings with the California Employment Development Department,
notified 614 employees on March 28 that they would lose their jobs, effective May 27. Apple abandoned its car project at the end of February, reports said, in favor of working more on generative artificial intelligence. Apple shares rose 0.3%.
was up 0.4% in premarket trading to $171.80. Shares of the electric-vehicle company rose to as high as $177.19 on Thursday, recouping losses that hit the stock following
Tesla
’s
first-quarter delivery report. Coming into Friday, Tesla shares have declined 31% this year.
Shares of
were rising 1.2% to $517 in premarket trading. Meta, the parent company of Facebook and Instagram, closed Thursday at $510.92 but earlier in the session jumped as much as 4.6% to an intraday record high of $530. The stock has risen 44% this year.
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was up 0.8% after the stock jumped 5% on Thursday following a report from Reuters that said
has been talking to its advisers about making an offer for the marketing software company.
rose 3.8% to $19.47 after analysts at Wells Fargo raised their recommendation on the movie theater operator to Overweight from Underweight and boosted the price target to $23 from $13.
reported fiscal second-quarter sales of $57.3 million, up 31% from a year earlier and beating analysts’ estimates. The sushi restaurant also slightly raised its fiscal-year revenue guidance for revenue. Shares rose 7.7% in after-hours trading Thursday.
Railcar maker
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is scheduled to report quarterly earnings Friday.
Write to Joe Woelfel at joseph.woelfel@barrons.com
