Alex Ossola

More on that after the break.

In the latest On Job Cuts, EV startup Rivian laid off about 2% of its workforce today.

The hundreds of employees included people handling sales and marketing.

It's meant to help make the company profitable as it launches a key new model, the R2 SUV.

And brokerage firm Robinhood said it will lay off 10 percent of its workforce, or about 290 jobs.

CEO Vlad Tenev told employees today that the cuts were an effort to keep the company lean, even as its business has never been stronger.

In other corporate news, we're exclusively reporting that more than 50 of America's biggest hotel owners are pressuring Marriott to share more of the wealth from its Marriott Bonvoy loyalty program.

The franchisees say it's costing them too much to provide rooms when customers cash in their credit card points at their Marriott hotels.

Marriott has said that fee revenue from its co-branded credit cards is expected to jump 35 percent this year to nearly $1 billion.

Marriott risks taking a hit to its stock price if it significantly reduces its fee revenue.

Its shares today slipped by less than 1 percent.

Yesterday's market rally didn't carry over to today, and major U.S.

indexes ended the day mixed.

The Dow rose 0.6 percent, while the S&P dropped 0.6 percent and the Nasdaq fell 1.2 percent.

The bull market that has lifted many tech stocks seems to have left Qualcomm behind.

Most people on Wall Street know it as a smartphone chip company.

Not a great place to be as smartphone sales are expected to decline this year.

In its most recent quarter, more than half of Qualcomm's revenue came from sales of smartphone chips, and its stock has returned an anemic 5 percent over the past two years.

An index that tracks chip stocks, meanwhile, is up more than 150 percent during that same period.

However, WSJ Heard on the Street writer Asa Fitch says that lately, it's looking more like Qualcomm could become a force in the data center chip business.