Core Insights - 23andMe appointed three new independent directors to its board following the resignation of all seven previous members due to concerns over the company's strategic direction [1][2][5] - The new directors are Andre Fernandez, Mark Jensen, and Jim Frankola, who will serve on the audit and compensation committees [3][4] - The company has faced significant challenges, including a user data leak in 2023, declining stock values, and consumer privacy concerns [5][6] Board Changes - The previous board members resigned in September, expressing disappointment in the company's strategic direction and a proposal to take 23andMe private [6][7] - The special committee formed by the board was dissatisfied with the proposal submitted by CEO Anne Wojcicki, indicating a lack of a fully-financed and actionable plan [6][8] - The new board members are committed to addressing the company's challenges and revitalizing its strategic direction [8] Compensation - Each new director will receive $1 million in cash compensation as per the SEC filing [9]

Microsoft's Q1 profits beat analysts' estimates as cloud computing continued to grow. Q1 capital spending reached $20 billion, up from $19 billion in Q4. Microsoft shares edged higher in after-hours trading. Insider Today Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address ...

Starbucks' new CEO, Brian Niccol, is set to lay out plans to turn around the struggling coffee chain. "It is clear we need to fundamentally change our strategy to win back customers," he said Wednesday. The company released preliminary numbers last week. Insider Today NSIDER TODAY Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics ...

AMD's GPU sales are nearing CPU sales, driven by AI data center demand. AMD raised its 2024 GPU sales forecast to over $5 billion, up from $4.5 billion. Analysts predict AMD's GPU sales will grow, but CPUs remain crucial for AI workloads. Insider Today NSIDER TODAY Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalize ...

Chipotle says it's tried to ensure "consistent and generous portions" after customer complaints.The move and unusual price fluctuations for avocados have hit the chain's profitability.Execs say the brand's focus on offering value has had a positive response. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized ...

A Russian court fined Google for not restoring YouTube accounts linked to Russian TV channels.The fine is about $20.6 decillion — a figure many orders of magnitude beyond the world's GDP.Google's Russian entity filed for bankruptcy in 2022 in a wider exodus from Russia, leaving few ways to extract payment. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! ...

Riyadh Air signed a deal for 60 Airbus A321neo jets on Wednesday. It was reportedly set to opt for Boeing 737 Max narrowbody jets after buying the 787 Dreamliner. The boost for Airbus comes at a testing time for Boeing. Insider Today NSIDER TODAY Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're ...

Reddit shares surged 25% after it reported a revenue beat and turned a profit for the first time.The company saw a 68% revenue increase and a 47% rise in daily active visitors in Q3.Reddit's AI-driven translation and revamped AMA product contributed to user growth. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a person ...

Core Insights - Snap's stock increased by 10% following a third-quarter revenue report that exceeded Wall Street expectations, with revenue growing 15% year-on-year to $1.37 billion, surpassing analyst estimates of $1.36 billion [1][3][4] Revenue Growth - The revenue growth was primarily driven by the introduction of AI features and an increase in Snapchat+ subscribers, which reached 12 million, contributing approximately $123 million to quarterly revenue [6][7] - Snap's CEO highlighted that AI-generated features and machine learning for personalization are beginning to show positive results in user engagement [3][4] User Engagement - Daily active users increased by 11 million in the third quarter, representing a 9% year-on-year growth, although the company projects a more modest increase of 8 million users in the current quarter [4][5] - The number of creators posting content on the platform grew by approximately 50% year-on-year in Q3, attributed to new AI tools for creators [4] Advertising Strategy - Snap has revamped its advertising approach, shifting from brand awareness ads to more expensive direct response ads that encourage user action [7] - Despite positive developments, Snap reported a loss of $368 million in Q3, continuing a trend of financial losses [7][9] Competitive Landscape - Snap's user base of 443 million is significantly smaller compared to competitors like Meta and TikTok, which have 3.3 billion and over 1 billion users respectively, leading to challenges in capturing ad revenue [8] - Analysts noted that the performance gap between Snap and larger competitors is widening, contributing to market share losses [8][9]

General Motors CEO Mary Barra said on Tuesday that EV manufacturers face steep competition in China.That competition comes with prices that are going "lower and lower," she said.It's not sustainable for EV manufacturers like GM, Barra said. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're ...