Meta Platforms Inc
LGBTQ harassment, slurs abound on social media, per GLAAD report
Social media platforms including Facebook and TikTok are failing to stop hate and threats against LGBTQ users, a report issued Wednesday from advocacy group GLAAD found. Those are some of the internet’s most vulnerable users, with a majority of LGBTQ people saying they’ve faced menacing posts or comments when they’re scrolling through social media. But it’s unclear how […]
Read More
5 things to know before the stock market opens Wednesday
Traders work on the floor of the New York Stock Exchange (NYSE) on May 12, 2022 in New York City. The Dow Jones Industrial Average fell in morning trading as investors continue to worry about inflation and other global issues. Spencer Platt | Getty Images Here are the most important news items that investors need […]
Read More
Facebook cuts hundreds of custodial jobs after ending contract with facility management vendor
Facebook parent Meta has cancelled a contract with custodial workers at its Silicon Valley headquarters, resulting in hundreds of job cuts later this month. Meta informed facilities management vendor ABM Industries of the cancellation in mid-June, and the cuts will go into effect on July 25, according to documents filed with the state of California’s […]
Read More
Microsoft cuts small percentage of employees as new fiscal year begins
Satya Nadella, chief executive officer of Microsoft Corp., speaks during a panel session on day two of the World Economic Forum in Davos, Switzerland, on May 24, 2022. Hollie Adams | Bloomberg | Getty Images Microsoft said Tuesday it cut a small number of workers, days after the software maker began its 2023 fiscal year, […]
Read More
Stocks making the biggest moves midday: Twitter, Wynn Resorts, Lululemon, Nio and more
Traders work on the floor of the New York Stock Exchange. NYSE Check out the companies making headlines in midday trading. Twitter — Shares of the social media company dropped more than 8% after Elon Musk walked away from his $44 billion deal to buy Twitter. Musk alleged that Twitter under-reported the number of spam bots on the […]
Read More
It’s time to sell Meta until it figures out the metaverse, Needham says in downgrade
Investors should sell shares of Meta until the social media company figures out the metaverse, according to Needham. Analyst Laura Martin downgraded shares of Meta Platforms to underperform from hold, noting that the company’s heavy investments in the metaverse — just as it expects slower revenue growth — may take too long to pay off. […]
Read More
Asset manager names his top stocks trading at a ‘sizable discount’ right now
With stock markets yet to emerge from the doldrums of a brutal first half sell-off, investors are increasingly seeking strategies to preserve and grow their capital. Asset manager Jack Ablin tells CNBC how he’s trading the market volatility, highlighting some of his top stocks along the way. Investors should be putting their money in companies […]
Read More
How to trade mounting recession risks, according to Goldman Sachs, Wells Fargo and more
After a beaten-down first half for stocks that ranked among the worst in decades, investors are now bracing for continued volatility. A growing chorus of recession warnings have emerged on Wall Street as market watchers weigh the likelihood that an aggressive rate hike cycle by the Federal Reserve will curtail growth. As it stands, the […]
Read More
Meta nudges its big VR push another step away from the Facebook legacy
Mark Zuckerberg, chief executive officer of Facebook Inc., speaks during the virtual Facebook Connect event, where the company announced its rebranding as Meta, in New York, U.S., on Thursday, Oct. 28, 2021. Michael Nagle | Bloomberg | Getty Images Meta is introducing a new way for people to log in to virtual reality headsets without […]
Read More
Analyst Mark Mahaney sees more trouble ahead for internet stocks, but has some top picks
Internet stocks took a heavy blow during the first half of 2022 as rising inflation spooked investors away from the growth sector, which is among those most sensitive to rising interest rates. Further pain is ahead as the economy shows signs of softening consumer demand, but some stocks may weather the storm better than others, […]
Read More