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Pre-Market: Amazon, OpenAi, Neiman Marcus, Bitcoin & Ethereum, and Red Sea Saga

  • Writer: Mathieu Desfosses
    Mathieu Desfosses
  • Jan 11, 2024
  • 2 min read

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Amazon cuts hundreds of jobs in Prime Video and MGM Studios

  • Amazon is letting go of hundreds of employees in its Prime Video and MGM Studios divisions.

  • Mike Hopkins, who oversees those units, sent a note to staffers informing them of the job cuts.

  • The cuts come after mass layoffs at the company that began in 2022 and extended through 2023, with more than 27,000 employees being let go.

OpenAI debuts GPT Store, new business tier after leadership fracas

  • OpenAI debuted two new products and services Wednesday: the GPT Store and ChatGPT Team.

  • OpenAI’s announcements underline its efforts to rapidly evolve its offerings in an effort to stay ahead of rivals such as Anthropic, Google and Meta in the AI arms race. 

  • Both ChatGPT Team and the GPT Store are new revenue drivers for the company that have been in the works for a while, but the GPT Store had been on hold until now due to Altman’s temporary ouster and the ensuing board shuffle.

Neiman Marcus CEO says there’s ‘no need’ to sell the business as Saks takeover rumors swirl

  • Neiman Marcus CEO Geoffroy van Raemdonck said there’s “no need” to sell the business as rumors swirl that rival Saks Fifth Avenue is eager to take it over.

  • “Our shareholders don’t have the need to sell the business because we have a billion of available liquidity, we’re profitable and we’re reporting results that are in a good place and can only be better,” van Raemdonck told CNBC.

  • Over the recent holiday, comparable sales trends at Neiman were down low single digits compared to last year, while store comparable sales trends were flat compared to the prior period.

Bitcoin falls ahead of ETF decision, ether surges to its highest level since May 2022

  • The price of bitcoin fell more than 2% Wednesday, extending losses from the previous day.

  • Meanwhile, ether rose more than 7%.

  • Both coins initially spiked on Tuesday afternoon in the short period before the SEC said its X, formerly known as Twitter, account had been compromised and misinformed the public.

Houthi militias launch biggest attack to date on merchant vessels in Red Sea

  • U.S. Navy officials tell CNBC four warships from Operation Prosperity Guardian are engaged in the fighting

  • Approximately 50 merchant vessels are in the area of the attack

  • This is the largest attack to date launched by Iranian-backed Houthi militants against commercial shipping vessels



 
 
 

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