Apple (AAPL) – A report from Bloomberg citing unnamed sources stated that Apple would be “eliminating a small number of roles” on corporate retail teams since the company started to look at cost cutting. The company may be under less pressure of large layoffs than other tech rivals due to hiring fewer additional workers in the several few years.
Virgin Orbit (VORB) – The Richard Branson founded rocket company filed for Chapter 11 bankruptcy after failing to receive new investment funding or a buyout. The company was founded in 2017 as a spin-off of Virgin Galactic (SPCE).
e.l.f. Beauty (ELF) – Cosmetics giant L’Oreal S.A. (EPA: OR) announced its largest acquisition ever in a $2.5 billion deal to buy upmarket beauty brand Aesop from Natura & Co. (NTCO).
UBS Group AG (UBS) – The chairman of Credit Suisse (CS), Axel Lehmann gave a public apology to shareholders, saying “We failed to stem the impact of legacy scandals, and counter negative headlines with positive facts” at the bank’s annual general meeting.
Getty Images (GETY) – Stock photo and digital media company Getty Images could be a potential short squeeze target as volume and price shot up over the last few trading days — however, share price was relatively stable pre-market just below $6.