Anthony Noto, CEO of SoFi, speaking with CNBC at the annual Allen & Co. Media and Technology Conference in Sun Valley, Idaho on July 10th, 2025.
David A. Grogan | CNBC
SoFi shares fell almost 6% in extended trading Thursday after the fintech company announced a $1.5 billion stock offering.
The company, which provides online loans and other banking services, said in a press release that it will use the proceeds for “general corporate purposes, including but not limited to enhancing capital position, increasing optionality and enabling further efficiency of capital management, and funding incremental growth and business opportunities.”
The announced offering comes after SoFi’s market cap almost doubled so far in 2025. The stock price is up more than sixfold since the end of 2022.
A company’s share price often drops on a planned share sale as the offering dilutes the value of existing holders’ stakes.
In its third-quarter earnings release in late October, SoFi reported revenue growth of 38% from a year earlier to $961.6 million, while net income more than doubled to $139.4 million. The company reported cash and equivalents of $3.25 billion.
Lisa Jackson, senior vice president of environment, policy and social initiatives at Apple Inc., speaks during the TechCrunch Disrupt 2017 in San Francisco, California, U.S., on Tuesday, Sept. 19, 2017.
David Paul Morris | Bloomberg | Getty Images
Apple’s general counsel, Kate Adams, and its vice president for environment, policy, and social initiatives, Lisa Jackson, are retiring from the company, the iPhone maker announced on Thursday.
Jennifer Newstead, Meta’s chief legal officer, will become Apple’s new general counsel in March, and Jackson’s government affairs staff will report to her starting late next year, Apple said.
The two executives, who both reported to Apple CEO Tim Cook, are the latest members of senior leadership to exit the company. In recent weeks, Apple’s head software designer said he was leaving to join Meta, while Apple said its AI chief was retiring, along with its chief operating officer.
Adams joined Apple from Honeywell and became general counsel in 2017, and oversaw legal matters including litigation, global security, and the company’s privacy initiatives. Under Adams, Apple grappled with rising antitrust scrutiny and regulation around the world, including major lawsuits in the U.S. over the iPhone App Store’s restrictions and fees.
Jackson joined Apple in 2013, and led the company’s diversity programs as well as much of its policy work in Washington, D.C. Before that, she spent four years as administrator of the U.S. Environmental Protection Agency, a position she was appointed to by President Barack Obama.
With her emphasis in areas like social justice and renewable energies, Jackson’s job lost relevance during the second Trump administration, which has publicly denounced diversity, equity and inclusion programs and slammed efforts to combat climate change.
Apple has faced increased tariffs from the Trump administration, and Cook has met with President Donald Trump several times to tout the company’s American manufacturing plans as part of an effort to influence policy.
Jackson was instrumental in Apple’s launch of its Racial Equity and Justice Initiative following the 2020 murder of George Floyd. She then helped expand the company’s equity and justice efforts to other countries, including the U.K., Mexico and New Zealand, according to a report published in 2023.
“At Apple, we pledge that our resolve will not fade,” Jackson wrote in a section of that report. “We won’t delay action. We will work, each and every day, on the urgent task of advancing equity.”
Jackson also worked on Apple’s environmental image. Her job “focused on reducing greenhouse gases, protecting air and water quality, preventing exposure to toxic contamination, and expanding outreach to communities on environmental issues,” according to her bio on the company’s website. She discussed Apple’s plans to become carbon neutral at iPhone launch events.
Jackson also accompanied Cook to several official functions in Washington, including state dinners.
Apple CEO Tim Cook and Apple Vice President Lisa Jackson arrive at the White House for a state dinner on April 10, 2024 in Washington, DC.
Tasos Katopodis | Getty Images
Newstead, who will become Apple’s top lawyer, has overseen Meta’s legal and regulatory matters pertaining to its family of apps like Facebook, Instagram, WhatsApp since 2019. A Meta spokesperson said Newstead will be staying through the end of the year and that the company is actively searching for her replacement.
Prior to Meta, Newstead served as a Trump-appointed legal advisor at the State Department during the president’s first administration in 2019.
Before that, she was a partner at Davis Polk & Wardwell and a general counsel of the White House Office of Management and Budget, among other roles in the U.S. government.
A general view of the Microsoft office building is seen in Cologne, Germany, on November 18, 2025.
Nurphoto | Nurphoto | Getty Images
Microsoft said Thursday that it will increase the prices of Office productivity software subscriptions for commercial and government clients on July 1.
The company’s Office applications, which include Word, Excel, PowerPoint and Outlook, have been facing increased competition in recent years from Google.
“We are continuously investing and innovating our platform for the future,” Nicole Herskowitz, corporate vice president for Microsoft 365 and Copilot, wrote in a blog post. “In the last year, we released more than 1,100 features across Microsoft 365, Security, Copilot, and SharePoint.” The new features have added value to the suites, she wrote.
Price hikes for commercial Office subscriptions have been infrequent. In 2022, Microsoft raised prices of its productivity bundles for the first time since launching the original Office 365 subscriptions in 2011. Microsoft changed the name of Office 365 to Microsoft 365 in 2020. In January, Microsoft announced a price hike for consumer Office bundles.
Microsoft offers Office 365 subscriptions for commercial use that include access to its productivity applications, along with higher-priced Microsoft 365 subscriptions that also include Windows operating system updates.
Here’s a breakdown of the commercial price changes:
For small and medium-sized businesses, Microsoft 365 Business Basic will cost $7 per person per month, up from $6.
Microsoft 365 Business Standard will be available for $14, up from $12.50.
Microsoft 365 Business Premium will continue to cost $22.
The entry-level Office 365 E1 offering for enterprises will still be sold for $10.
Office 365 E3 will jump 13% to $26 from $23.
The Microsoft 365 E3 package including Windows for enterprises will rise 8% to $39 from $36.
The full-featured Microsoft 365 E5 will increase to $60 from $57.
For front-line workers such as cashiers, Microsoft 365 F1 subscriptions will cost $3, up from $2.25.
Microsoft 365 F3 will be available for $10, up from $8.
The U.S. Defense Department and other government clients will face similar percentage price increases.
The various subscriptions all exclude access to the $30 Microsoft 365 Copilot add-on that draws on generative artificial intelligence models. Some companies have started widely rolling out Copilot, while others have held off on expanding their deployments, CNBC reported last week.
In many cases, organizations receive discounts off of list prices, but Microsoft has cut back on direct volume deals for some types of customers.
Almost 43% of Microsoft’s $77.7 billion in fiscal first-quarter revenue came from its Productivity and Businesses Processes segment, which includes Office. In October, the company said revenue from Microsoft 365 commercial cloud services jumped 17%, while seats increased 6%, mainly from products targeting small and medium-sized businesses and front-line workers.
Every weekday, the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. 1. Stocks were little changed Thursday as Wall Street overlooked mixed labor market data. U.S. layoff announcements in November pushed the year’s total above 1.1 million, the highest level since 2020, according to job placement firm Challenger, Gray & Christmas. Initial jobless claims, however, came in lower than expected for the week ending Nov. 29. Despite the muted session, Jim Cramer says the market’s still overbought. That means we’re not looking to put new money to work right now. Meta Platforms was an outperformer in the portfolio. Shares jumped 4% after Bloomberg reported that the Facebook parent plans to make deep cuts to its metaverse unit. 2. Costco reported U.S. sales for November that were slightly weaker than the month before, sending shares down 3%. Company-wide same-store sales, however, accelerated last month, up 6.9% from October’s 6.6% gain. The stock’s weakness Thursday doesn’t present a buying opportunity just yet, according to Jim, because its multiple is still too high. “There are periods of underperformance in Costco, but if you look at the longer term, it’s one of the greatest performers of all time,” he added. 3. Salesforce stock was up after management posted a huge quarterly earnings beat and raised guidance Wednesday evening. The company missed slightly on revenue. We liked all the paid deals Agentforce, Salesforce’s AI-powered platform, pulled in this quarter. Still, generative AI adoption continues to pose a risk to Salesforce’s seat-based business model. CEO Marc Benioff will be on “Mad Money” on Thursday. 4. Stocks covered in Thursday’s rapid fire at the end of the video were: Snowflake , Five Below , Hormel Foods , PayPal , and Kroger. (Jim Cramer’s Charitable Trust is long META, CRM, COST. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.