Afternoon Coffee: Apple Stock Slides, Business Insider Says Apttus CEO Left After Sex Abuse Case

Sasajo/Adobe Stock

Apple released its earnings, which came with a weak outlook, after the bell Thursday, and its stock has taken a hit — with its market cap falling below $1 trillion, Bloomberg reports. “Shares of the world’s most valuable public company fell 7.1 percent on Friday after revealing stagnant iPhone sales and forecasting revenue for the holiday quarter that fell short of Wall Street expectations at the midpoint,” Bloomberg reports.

Report: Apttus CEO Left After Abuse Case

Remember when Apttus CEO Kirk Krappe left the $1.86 billion startup in July? Business Insider reports that his exit was related to a sexual abuse case at a company retreat in Cabo. The story also alleges the company had instances of sexual harassment and inappropriate relationships. Two months after the CEO left, the private equity firm Thoma Bravo acquired Apttus.

Exploding Container Held Recycling

An ongoing investigation found that a shipping container that exploded Tuesday evening at the Port of Los Angeles had come from a nearby recycling center and was marked as holding metal for recycling in Taiwan, Supply Chain Dive reports. The port was evacuated, and no injuries were reported, said the Dive, which takes a look at other times containers exploded.

250,000 Jobs Added

And finally, an update on jobs: U.S. job numbers released Friday showed that 250,000 were added for October, reports The Wall Street Journal, which also sees higher wages as unemployment stays low.

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