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ASML Soars to Record High; Amazon to Cut 16,000 Corporate Positions; GE Vernova 4Q Revenue Beats Estimates
Description
On this episode of Stock Movers:
- ASML Holding (ASML NA) shares soared to the highest ever after orders in the fourth quarter far exceeded analysts’ expectations and the Dutch semiconductor equipment maker announced job cuts to boost efficiency.Bookings in the fourth quarter were a record $15.8 billion, as artificial intelligence fueled demand for its most sophisticated equipment, the Veldhoven, Netherlands-based company said in a statement on Wednesday.
- Amazon.com (AMZN) will terminate about 16,000 corporate employees, ratcheting up efforts to streamline bureaucracy amid rising competition over artificial intelligence. The company will offer US-based employees 90 days to search for a new role internally, as well as severance and other transition support, Beth Galetti, Amazon’s senior vice president of people experience and technology said Wednesday in a blog post.
- GE Vernova’s (GEV) total backlog jumped by $31.2 billion last year amid strong orders for gas turbines and grid equipment. The backlog has now reached $150 billion, and includes an increase in gas turbine orders from 33 gigawatts to 40 gigawatts, the company said Wednesday in its earnings report.
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