U.S. stock futures opened mixed Tuesday evening after the major equity indexes slid during the regular trading day, as concerns over inflation and global economic growth stirred up further volatility across risk assets. Contracts on the S&P 500 dipped. The index dropped 2.8% on Tuesday for its largest decline in seven weeks, with technology shares especially slammed. The Nasdaq Composite sank 4% to fall to 12,490.74 — its lowest level since December 2020. With just three trading days left… Source link

The mysterious New York Yankees letter was leaked to the public Tuesday, just a few days before it was scheduled to be unsealed by judge’s order. We finally know what MLB commissioner Rob Manfred wrote to Yankees GM Brian Cashman regarding MLB’s investigation into cheating allegations against the team. So what did the letter say? There are two main revelations: The Yankees used their dugout phone to relay stolen signs in 2015 and 2016, and Manfred appears to have hid the truth from the public… Source link

(Bloomberg) — Google parent Alphabet Inc. reported first-quarter revenue that fell short of analysts’ expectations, a rare miss for the technology giant reflecting slower ad sales in Europe and a lackluster performance by its YouTube video service. The shares declined about 6% in extended trading. Most Read from Bloomberg The company also announced a $70 billion share buyback program. Revenue, excluding payouts to distribution partners, increased 20% to $56 billion in the period ended March… Source link

Investors are warming to the fact the Federal Reserve is about to throw ice cold water on the hot U.S. economy where inflation is surging to four-decade highs. But whether the Fed hikes 50 basis points next week — or even a previously-unfathomable 75 points — Jerome Powell and company are unlikely to achieve the proverbial (and rare) soft landing, according to one veteran trader. Bill Smead, chief investment officer at Smead Capital Management, compared the present bout of persistently… Source link

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After a record-breaking 2021 with annual revenue of $257 billion — the first time it has gone over $200 billion for a year — Google’s parent company reports in a filing (pdf) that it has started off 2022 with Q1 revenue that’s up 23 percent from the same period last year, reaching $68 billion. However, with expenses up compared to 2021, its net profit actually dropped to $16.4 billion compared to last year’s $17.9 billion. In an accompanying statement, Google and Alphabet CEO… Source link

Google parent Alphabet Inc. GOOG -3.04% posted slower sales growth as global economic turmoil disrupted digital advertising spending, which has already been easing after pandemic-fueled highs. The company said first quarter sales rose 23% from the year-ago period, the lowest rate for the tech giant since late 2020. The company at the time saw a period of massive sales growth, as small and large businesses… Source link

This week at the 2022 NAB Show Streaming Summit, Google launched in general availability Media CDN, a platform for delivering content using the same infrastructure that powers YouTube. With a presence in over 1,300 cities across 200 countries, Google says that Media CDN is designed to — in the company’s words — “automate all facets” of “serving content [close to users].” The pandemic led to an explosion in demand for streaming content as business… Source link

The battle between Apple (AAPL) and Facebook parent Meta (FB) continues to heat up, as the iPhone maker released a new report on Tuesday it says refutes accusations that it profits handsomely from iOS privacy changes last year that have hamstrung Meta’s advertising business. The report, which was funded by Apple and performed by Columbia Business School professor Kinshuk Jerath, is meant to show that while Meta estimates Apple’s App Tracking Transparency technology will cost its ad… Source link

Google’s pandemic boom may finally be slowing. Google’s parent company, Alphabet, reported an 8 percent decline in quarterly profit on Tuesday, dragged down by slowing growth for advertising on YouTube and search as well as a decline in the value of its investments. The company posted a net profit of $16.44 billion for the first quarter, compared with a profit of $17.93 billion in the same period a year earlier — the first time the company’s quarterly profit had fallen from the prior… Source link