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Market Coverage – Wednesday July 27 Yahoo Finance – Yahoo Finance Source link

Shopify (SHOP) today joined the ranks of tech companies laying off employees, announcing that it was set to cut 10% of its workforce. The recent tech layoffs and hiring freezes stems from a so-called boomerang effect, LinkedIn Principal Economist Guy Berger told Yahoo Finance Live (video above). “Tech just kept hiring, just kept rising and rising and rising, at least to the end of last year, and now it’s coming down much faster,” he said. “I would say it’s kind of like a boomerang in that it… Source link

It looks like Netflix’s (NFLX) $200 million bet on “The Gray Man” might have paid off. The action-packed film starring Ryan Gosling, Chris Evans, and Ana De Armas made its debut on the platform on Friday and quickly climbed its way to the top of the streamer’s competitive top 10 list, despite lackluster reviews. According to the company’s latest global viewing report, subscribers watched more than 88 million hours of the movie within its first three days on the platform (July 22 – July 24). For… Source link

NFL training camp season is officially here, and with come a cavalcade of news — both good and bad. Veterans reported to camp Tuesday, which kicks off the beginning of the last phase before the 2022 NFL season begins on Sept. 8 with the Buffalo Bills taking on the reigning Super Bowl champion Los Angeles Rams. Here is a brief breakdown of the biggest news and updates from around the league. The biggest news coming out of 49ers camp Tuesday revolves around the future of two of their young… Source link

Julio Jones is signing a one-year deal to join the Tampa Bay Buccaneers, ESPN’s Adam Schefter reports. Terms of the deal weren’t initially reported. The seven-time Pro Bowl receiver joins his second team since leaving the Atlanta Falcons after a single season last year with the Tennessee Titans. He’ll team up with Tom Brady in pursuit of his first Super Bowl championship. [Set, hut, hike! Create or join a fantasy football league now!] Jones joins the Bucs as leading receiver Chris Godwin… Source link

Aaron Rodgers is moving on from John Wick to Cameron Poe. (Photo by Carmen Mandato/Getty Images for The Match) Aaron Rodgers spent last season trying to look like John Wick. This year, it appears he has a new inspiration. [Set, hut, hike! Create or join a fantasy football league now!] The Green Bay Packers quarterback arrived at training camp Tuesday with some long hair, a short beard, a white tank top and some light blue jeans. In other words, he was styled exactly like Nicolas Cage’s… Source link

Though a recent tech rout has led to widespread pessimism about the sector, long-term investors should still be considering Big Tech names like Amazon (AMZN), according to Jefferies Senior Research Analyst Brent Thill (video above). “Look, tech is at a discount right now,” he told Yahoo Finance. “It’s not the space where people want to be; they want to be in other sectors… I do think ultimately the opportunity is to tuck this away for three years, and you’re going to be pretty happy three… Source link

Walmart’s second earnings warning of 2022 says a great deal about the financial stresses U.S. consumers are increasingly seeing amid sky-high inflation, a bear market in stocks, and lofty gas prices. The world’s largest retailer slashed its second-quarter and full-year profit outlooks late Monday owing to rampant inflation and a consumer retrenchment for discretionary items such as apparel. Walmart now sees full-year earnings tanking 11% to 13% compared to a prior estimate for a 1% drop. “This… Source link

Spotify (SPOT) is set to report its fiscal second quarter earnings on Wednesday before the bell as the platform doubles down on podcasts amid an increasingly crowded music streaming landscape. Here’s what Wall Street expects, according to Bloomberg consensus estimates: Revenue: $2.87 billion expected Adjusted loss per share: -$0.66 expected Total monthly active users (MUAs): 428 million expected In the first quarter of 2022, total monthly active users grew 19% year-over-year to 422 million in the… Source link

After more than a year of negotiations, Congress is on the cusp of passing a bill to alleviate the chip shortage and shore up U.S. competitiveness with China — in part by giving $50 billion to the semiconductor industry. The Senate voted 64-32 on Tuesday to end debate on the so-called “CHIPS+” bill. This key step, which required 60 votes, now sets the stage for final passage in the coming days. As the key procedural step got underway, Senate Majority Leader Chuck Schumer (D-NY) said the… Source link