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Amazon has let go of some of the employees in its Pharmacy business, the company confirmed to CNBC.

A “small number” of staffers in the Amazon Pharmacy division were informed Thursday they were being laid off, Amazon spokesperson Brad Glasser said in a statement. Roughly 80 employees were laid off, according to Semafor, which previously reported the news.

“Like many businesses, we are always improving our processes, for both quality and efficiency, and identifying how we can deliver on the best customer experience,” Glasser said. “As a result, we have made the decision to adjust resources and a small number of roles have been eliminated on the Amazon Pharmacy Services team.”

The cuts come as Amazon recently wrapped up the largest layoffs in its 29-year history. The company laid off 18,000 employees over several months last fall and earlier this year, then announced an additional 9,000 employees would be let go in March. Amazon CEO Andy Jassy has been aggressively slashing costs across the company as the e-retailer reckons with an economic downturn and slowing revenue growth. Jassy has targeted some of Amazon’s more unproven bets like grocery and devices, while freezing corporate hiring and slowing warehouse expansion.

Amazon’s healthcare businesses were affected by the layoffs earlier this year. Some employees in the company’s pharmacy, digital health tools and Halo fitness band units were laid off, CNBC previously reported.

Amazon has spent years trying to crack the healthcare market. The company launched its own online pharmacy in 2020, a service that was born out of its acquisition of PillPack in 2018. Amazon introduced, then shuttered, a telehealth service called Amazon Care, and announced in July it would acquire boutique primary care provider One Medical for $3.9 billion.

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Apple brings its TV streaming service to rival Android platform

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Apple brings its TV streaming service to rival Android platform

Britt Lower and Adam Scott in “Severance,” now streaming on Apple TV+.

Source:  Apple TV+

Apple TV+ is now available on Android devices as the iPhone maker on Wednesday released its video streaming service for Google’s mobile computing platform. 

It’s unusual for Apple to release Android apps. The company typically focuses on software for its own iOS and MacOS platforms, but Wednesday’s release is the latest sign that Apple won’t be limiting the growth potential of its Services division by keeping popular services like Apple TV+ exclusive to its own devices.

More people have iPhones than Android phones in the U.S., but globally, Android claims a 72% market share, according to Statcounter. Releasing Android apps significantly expands Apple’s market.

Apple’s Services business is its second largest behind iPhone sales, and Services hit a $100 billion per year revenue rate last year. In addition to subscriptions like iCloud, the unit also includes sales from advertising, search deals with Google, AppleCare warranties and payment fees from Apple Pay.

Apple TV+ is among Apple’s most popular services, and it’s best known for shows like “Ted Lasso” and “Severance.” It also broadcasts Major League Soccer and Major League Baseball games.

The company has never released viewership numbers for Apple TV+, but Nielsen estimates say it accounts for a small fraction of total American TV watching. It costs $10 per month in the U.S. and is included in several bundles alongside iCloud storage, Apple Music and other subscriptions.

Besides a few niche apps, Apple doesn’t have a long track record of making Android apps. Its last significant services app for the Google platform was a decade ago when the company released its Apple Music streaming service for Android.

The Apple TV+ app is available to download through the Google Play app store, and users will be able to pay with their Google accounts. Apple did not disclose a revenue-sharing arrangement with Google, but both companies typically take about 15% of billings from streaming services through their app stores.

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Lyft shares sink 6% on underwhelming fourth-quarter results

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Lyft shares sink 6% on underwhelming fourth-quarter results

Cheng Xin | Getty Images

Lyft shares shed about 6% after the ride-sharing app reported lackluster fourth-quarter results and offered weak bookings guidance as it lowers prices to keep up with competition.

The company reported revenues of $1.55 billion, versus the $1.56 billion expected by analysts polled by LSEG. Revenues grew 27% from $1.22 billion a year ago. Bookings, which measures the charges posed to customers for rides and services, came in at $4.28 billion, behind a $4.32 billion FactSet estimate.

“I think what the future holds is great, because it’s a huge market, and we’re doing a great job,” CEO David Risher told CNBC’s “Squawk Box” on Wednesday. “We got to figure out how to get the traders on the bus.”

The company did beat expectations on fourth-quarter earnings, reporting an adjusted 29 cents per share compared to the LSEG expectation of 22 cents per share. The figure excluded certain amortization and compensation charges, and a gain from terminating a lease.

Lyft also said it anticipates a slowdown in gross bookings as it grapples with a lower pricing environment. The company expects bookings to range between $4.05 billion and $4.20 billion, versus a $4.24 billion FactSet forecast.

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During the earnings call, Chief Financial Officer Erin Brewer said the company lowered prices and used discounts in the end of the year to keep up with the market. Ongoing pricing headwinds could lead to a low single-digit percentage point impact on gross bookings, she added.

Brewer also said that the end of its partnership with Delta Air Lines will weigh on rides and gross bookings in the 1% to 2% range during the second quarter.

Last week, Uber shares also declined on mixed fourth-quarter results and soft guidance. The ridesharing competitor also signaled that it may take years to build out and commercialize autonomous vehicles.

Lyft reported net income of $62.8 million for the period, or 15 cents per share. That’s compared to a loss of $26.3 million a year ago, a loss of 7 cents per share.

During the fourth quarter, Lyft also recorded 24.7 million active riders, ahead of the 24.6 million StreetAccount estimate.

Alongside the results, the company announced a $500-million share repurchase plan and said it aims to roll out its Mobileye-powered taxis as soon as 2026 in Dallas.

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Neuralink competitor Paradromics secures investment from Saudi Arabia’s Neom

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Neuralink competitor Paradromics secures investment from Saudi Arabia's Neom

Paradromics scientists at work

Source: Paradromics

Texas-based neurotech startup Paradromics on Wednesday announced a strategic partnership with Saudi Arabia’s Neom and said it will establish a Brain-Computer Interface Center of Excellence in the region.

Neom is a developing area within northwest Saudi Arabia that’s touted as “a hub for innovation,” according to its website. The area’s strategic investment arm, the Neom Investment Fund, led the partnership. Paradromics declined to disclose the investment amount.

Paradromics is building a brain-computer interface, or a BCI, which is a system that deciphers brain signals and translates them into commands for external technologies. The company will work with Neom to “advance the development of BCI-based therapies” and set up the “premier center for BCI-based healthcare” in the Middle East and North Africa, it said in a release.

“Working together, we can accelerate the rate of innovation in BCI and expand access to impactful BCI-based therapies.” Paradromics CEO Matt Angle said in a statement.

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Paradromics is one of several companies racing to commercialize BCIs, including Elon Musk’s startup Neuralink. Earlier this month, Neuralink announced it has implanted three human patients with its technology, according to a blog post. Precision Neuroscience and Jeff Bezos and Bill Gates-backed Synchron have also implanted their systems in humans.

None of these companies have secured the FDA’s final stamp of approval.

Paradromics’ BCI, the Connexus Direct Data Interface, is an array of tiny electrodes designed to be implanted directly into the brain tissue. The system could eventually help patients with severe paralysis regain their ability to communicate by deciphering their neural signals. 

The company is gearing up to launch its first human trial this year, and announced its official patient registry in July. Paradromics’ technology has not yet been approved by the U.S. Food and Drug Administration, and it still has a long way to go before commercialization. In 2023, the company received the FDA’s Breakthrough Device designation, which aims to help accelerate the go-to-market process.

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