BOISE, Idaho — A group of conservative Idaho lawmakers is asking managers of the state’s employee retirement system to divest in tech companies they say don’t value free speech.  The 22 Republican lawmakers and Republican Lt. Gov. Janice McGeachin in a letter sent Monday say that $650,000 should be removed from Twitter, Amazon, Google, Apple and Facebook. Those companies have either banned former… Source link

Wednesday, January 27, 2021 This article was first featured in Yahoo Finance Tech, a weekly newsletter highlighting our original content on the industry. Get it sent directly to your inbox every Wednesday by 4 p.m. ET. Subscribe GameStop’s stock is on fire, but that has nothing to do with reality GameStop (GME). Who would have thought the most talked about stock on Wall Street in early 2021 would be a past-its-prime mall retailer? And yet here we are. The company’s stock has gained an… Source link

Alphabet Inc.’s broad product portfolio should serve it well through mid-2021 despite a raging pandemic. For that reason, Wall Street analysts agree, the financial stars are aligning for Google’s parent GOOGL, -4.67% GOOG, -4.51%, scheduled to report fiscal fourth-quarter results on Tuesday. A projected bump in advertising factored into J.P. Morgan analyst Doug Anmuth’s projection of sizable jumps in 2021… Source link

Bloomberg Hedge-Fund Titans Lose Billions to Reddit Traders Running Amok (Bloomberg) — For once, Main Street is beating Wall Street.In a matter of weeks, two hedge-fund legends — Steve Cohen and Dan Sundheim — have suffered bruising losses as amateur traders banded together to take on some of the world’s most sophisticated investors. In Cohen’s case, he and Ken Griffin ended up rushing to the aid of a third, Gabe Plotkin, whose firm was getting beaten down.Driven by the frenzied trading… Source link

A convergence of factors joined forces on Wednesday to scare the bull thesis in stocks and really club the market into the ground. Losses on the Dow Jones Industrial Average (2.2%), Nasdaq Composite (2.7%) and S&P 500 (2.6%) all accelerated into the close. The selloffs marked the biggest plunges for the major indexes since October, notes Yahoo Finance markets reporter Jared Blikre. The session was wobbly out of the gate Wednesday, but experts point to two things in particular for the hearty… Source link

Tesla (TSLA) reported fourth-quarter results Wednesday after market close, offering the last look at the electric car-maker’s performance at the end of a record-breaking year and early guidance for 2021. The company posted its first-ever quarter doing $10 billion or more in revenue. However, Tesla’s earnings fell short of estimates, though the company did eke out a sixth straight quarterly profit. Shares fell more than 4% in late trading after the results. Here were the main results in… Source link

RFI China and US swap accusations of genocide, but does it make any sense? The last official act of out-going US Secretary of State Mike Pompeo was to accuse China of perpetrating “genocide” against its Uyghur population. China was quick to point to the US’s treatment of its own indigenous people, to the American history of slavery and discrimination. The increasingly vitriolic war of words adds to the ongoing deterioration of ties between Beijing and Washington. In a strongly worded press… Source link

A clash of the classes — “proletariat vs bourgeoisie” — is at the heart of the GameStop (GME) short squeeze saga, says one WallStreetBets participant. “WSB feels like it’s the working class vs. the hedge funds. The poor vs. the rich,” Twitter user @redditinvestors, who has been following Reddit’s WallStreetBets forum for years, told Yahoo Finance on Wednesday morning. WSB user and YouTuber Louis Rossman agrees. “There’s a lot of pent-up aggravation at the financial services… Source link

Google is advising site owners a message that was recently sent via Search Console may contain errors due to a known bug. Google Search Console is sending emails recommending the use of domain properties, emphasizing how much data is missing without one. The email begins with a headline that highlights the amount impressions data a site’s reports can gain with a verified domain property. Many of these messages were received with a glaring error at the beginning where the site’s URL either… Source link

Microsoft (MSFT) is officially a cybersecurity giant. For the first time on Tuesday, Microsoft disclosed revenue from its various security offerings as part of its quarterly earnings — $10 billion over the last 12 months. That amounts to a 40% year-over-year jump in the growing security business, making up roughly 7% of the company’s total revenue for the previous year. “We waited in some sense [until] this milestone to show the depth, the breadth, the span of what we are doing,”… Source link