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Robinhood CEO Vlad Tenev said Tuesday in a press release that the company will reduce its headcount by approximately 23%. The layoffs will be primarily in operations, marketing and program management. In the release, Tenev blamed “deterioration of the macro environment, with inflation at 40-year highs accompanied by a broad crypto market crash.” Robinhood had previously laid off 9% of its workforce in April. “I want to acknowledge how unsettling these types of changes are,” Tenev said. In the release, Tenev said the company would flatten its organizational structure to give new general managers broad responsibility for its businesses. He also said that affected employees would receive an email and a Slack message letting them know if they were being let go or still had a job, immediately after an all-hands meeting to discuss the move on Thursday. The company also dropped its earnings report for the second quarter, one day earlier than expected. Here’s how it did. Revenue:  $318 milli...

In this article TMUS DXCM DVA EW AMZN INTC AAPL Follow your favorite stocks CREATE FREE ACCOUNT Customers shop at the Apple Fifth Avenue store for the release of the Apple iPhone 14 in New York City, September 16, 2022. Andrew Kelly | Reuters Check out the companies making headlines in midday trading. Apple – Shares of Apple jumped 8% after the technology giant beat both top and bottom line estimates when it reported earnings results for its latest quarter. Intel – The chip stock popped 10% after surpassing analysts' estimates for the recent quarter and outlining a plan to reduce costs by $10 billion over the next three years. Amazon – Shares of Amazon slipped 9% Friday after the retailer on Thursday reported quarterly revenue that fell short of Wall Street's expectations. The company also projected weaker holiday sales than analysts expected. T-Mobile – T-Mobile stock jumped 6% after the telecom company reported the largest jump in subscriber numbers since 2020, when it m...

The logo of Alphabet Inc's Google outside the company's office in Beijing, China, August 8, 2018. Thomas Peter | Reuters Check out the companies making headlines after hours. Alphabet — The search engine parent dropped 5.8% after Alphabet missed third-quarter earnings expectations, and reported a decline in YouTube ad revenue. Alphabet earned $1.06 per share on revenue of $69.09 billion. Analysts surveyed by Refinitiv were forecasting $1.25 earnings per share on revenue of $70.58 billion. Microsoft — Shares slipped 2.7% after Microsoft reported weaker-than-expected cloud revenue in its latest quarterly results, despite otherwise beating earnings and revenue forecasts . Texas Instruments — Shares declined 5.7% after TI's Q4 revenue and earnings forecasts missed the average analyst's consensus estimate, according to FactSet. Texas Instruments posted Q3 revenue of $5.24 billion, greater than the $5.14 billion forecast, according to consensus estimates from Refinitiv...

Robinhood CEO Vlad Tenev said Tuesday in a press release that the company will reduce its headcount by approximately 23%. The layoffs will be primarily in operations, marketing and program management. In the release, Tenev blamed “deterioration of the macro environment, with inflation at 40-year highs accompanied by a broad crypto market crash.” Robinhood had previously laid off 9% of its workforce in April. “I want to acknowledge how unsettling these types of changes are,” Tenev said. In the release, Tenev said the company would flatten its organizational structure to give new general managers broad responsibility for its businesses. He also said that affected employees would receive an email and a Slack message letting them know if they were being let go or still had a job, immediately after an all-hands meeting to discuss the move on Thursday. The company also dropped its earnings report for the second quarter, one day earlier than expected. Here’s how it did. Revenue:  $318 milli...