Futures tied to Wall Street’s key benchmarks were mixed heading into overnight trading Wednesday after stocks closed higher for the fourth straight day on the heels of Big Tech earnings. However, the winning streak in equities was eclipsed by disappointing fourth quarter results from Facebook parent company Meta (FB), which reported figures that missed estimates after the bell on Wednesday. The results sent shares tumbling more than 20% in post-market trading. Contracts on the tech-focused… Source link

Google’s public cloud has been chasing competing services from Amazon and Microsoft for so long, you might think it would be getting winded. But the critical Alphabet division keeps on keeping on, yesterday reporting revenues of more than $5.5 billion for the fourth quarter. That was the good news. The bad news was that Google Cloud accrued operating losses worth $890 million at the same time. It may be hard to understand how a business with a run rate greater than $22 billion is… Source link

Two members of Google’s Ethical AI group have announced their departures from the company, according to a report from Bloomberg. Senior researcher Alex Hanna, and software engineer Dylan Baker, will join Timnit Gebru’s nonprofit research institute, Distributed AI Research (DAIR). In a post announcing her resignation on Medium, Hanna criticizes the “toxic” work environment at Google, and draws attention to a lack of representation of Black women at the company. “Prior to… Source link

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 Wednesday, January 19, 2022 Spotify needs to keep its artists happy, or it will have nothing Spotify (SPOT), the world’s most popular music streaming service, faces an existential threat in the form of a boycott by the very artists it needs to survive. So far, Neil Young and Joni Mitchell have… Source link

There’s not much better than free when it comes to DFS. So with Yahoo and Yahoo Fantasy offering a $15,000 freeroll called the PGA “Yahoo Cup,” now is the time to join for free cash prizes week in and week out. Additionally, there is a season-long points chase with even more money handed out at the end of the year. It will go for 39 weeks, with the lowest nine weeks of scoring being dropped from your total score, so join now for the best chance to win even more prizes. Let’s dig into… Source link

Congress is getting better at heading off devastating recessions. Yet the gusher of stimulus money Congress provided to offset the COVID recession during the last two years included hundreds of billions of dollars for wealthy Americans, with little benefit to the ordinary workers the money was supposed to help. New research by MIT economist David Autor and nine others finds that the Paycheck Protection Program, an $800 billion aid package Congress passed in March 2020, was one of the… Source link

The Google logo is pictured at the entrance to the Google offices in London, Britain January 18, 2019. REUTERS/Hannah McKay Register now for FREE unlimited access to Reuters.com Register University’s patent covers tech for fixing software code Complaint says Google engineer copied code for Android software (Reuters) – Purdue University’s Purdue Research Foundation has sued Google LLC in Texas federal court, alleging that Android software for eliminating programming errors in smartphones copies… Source link

Stocks rose in a choppy session Wednesday as investors mulled a fresh batch of earnings results from some major index components and tried to further shake off January’s volatility. The S&P 500, Dow and Nasdaq gained just after noon in New York.  A spate of better-than-expected corporate earnings helped partially offset some more concerning signs of an Omicron-induced slowdown in growth at the start of the year. ADP reported Wednesday morning that private-sector U.S. employers cut 301,000… Source link

Famed short-seller Carson Block raised the alarm on special purpose acquisition companies (SPAC) at the height of their activity, building his bets while warning retail investors about “a scam” in the market. Now, the CEO of investment research firm Muddy Waters Capital is starting to see the reckoning. Since raising a record $144 billion through 613 blank check IPOs last year, investors have begun to turn on these companies, in the face of poor returns and choppy market conditions. From… Source link

On the National Signing Days of 2016 and 2017, Michigan football coach Jim Harbaugh presided over an event he’d created — “Signing with the Stars.” It was part unveiling of the high school recruits who would play for the Wolverines — prospects such as Rashan Gary, Devin Bush and Donovan Peoples-Jones. Mostly, though, it was a celebration of Michigan football and the carnival barking of Harbaugh hopefully gaining the attention of future recruits. He was newly arrived in Ann Arbor and… Source link