Sonos’ profits plummeted in FY2022, in line with industry
Tech market tanks By Jorge Mercado Senior Staff Writer Santa Barbara-based Sonos’ profits plummeted in fiscal 2022, in line with the technology sector. The maker of smart speakers’ net income plunged 33% in its recently ended fiscal year, the company announced after the market close Nov. 16. By comparison, First Trust’s NASDAQ-100-Technology Sector Index Fund fell Read More →
Retailers Cautious as Season Opens
Retailers cautious as season opens By Madeleine Benn Staff Writer The outlook for regional retailers appears mixed this key holiday season. Industry observers, local merchants and shoppers interviewed voiced differing expectations about spending during a time of the year that remains crucial for many retailers, as November and December has traditionally been when consumers have Read More →
U.S. grants PG&E $1.1B to keep Diablo open longer
By Jorge Mercado Senior Staff Writer The federal government has turbocharged Pacific Gas & Electric’s push to keep its controversial Diablo Canyon nuclear power plant online. The U.S. Department of Energy has given the project a $1.1 billion grant to help keep California’s last nuclear power plant operating through 2030, PG&E announced Nov. 21.The lifeline Read More →
Artera visits Wall Street, hints at IPO
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Olaplex struggles despite beating expectations
Montecito-based Olaplex beat analysts’ expectations with its financials for the third quarter of 2022, but the company’s shares are still struggling after it slashed its full-year guidance. Olaplex, a seller of hair-care products, reported revenue of $176.5 million for the quarter ended Sept. 30, an increase of 9.2% from the same period a year ago. Read More →