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Snap’s (SNAP) stock was down more than 23% in early trading Friday morning after its earnings report sharply missed revenue expectations the day before. Why the big miss? CEO Evan Spiegel said Apple’s (AAPL) recent privacy changes to iOS hampered advertisers’ efforts to track their campaigns. “Our advertising business was disrupted by changes to iOS ad tracking that were broadly rolled out by Apple in June and July,” Spiegel said during the company’s earnings call. “We have… Source link

If you haven’t noticed yet, your grocery bill is likely much higher than it was just a few months ago. Prices are skyrocketing on a number of consumer staples — everything from coffee to milk to soap — as companies try to offset surging costs due to supply constraints and production challenges. And relief may not be coming anytime soon. In fact, industry experts are warning that consumers will need to dig even deeper into their wallets as we look ahead to next year. “I can tell you… Source link

By Dhirendra Tripathi Investing.com – Phunware stock (NASDAQ:PHUN) was defying all conventions Friday as it rose 1,468% on speculation that the company is being tapped to build former U.S. President Donald Trump’s proposed social media platform. Trading in the stock was halted later. It jumped 1,000% after it resumed. The stock touched a high of $24.04 during the session. It had closed at $1.53 Thursday. More than 197 million shares of the company changed hands on Nasdaq in less than an hour… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, October 22, 2021 The Great Resignation gives way to the Dee Snider workforce “We’ve got the right to choose it There ain’t no way we’ll lose it This is our life, this is our song” —“We’re Not Gonna Take It,” Twisted Sister What to make of the labor market, where unfilled jobs are near a record high, unemployment claims hit yet… Source link

It’s Week 7 in the NFL and with SIX teams on bye, there’s no better place to prepare for your fantasy matchup than with the Yahoo “Fantasy Football Live” crew. We’ll tackle the tough sit-start questions, latest betting trends and preview the Monday night tilt between the Saints and banged-up Seahawks. Could Matt Stafford light up the scoreboard against his former club? What single-game DFS options should be rostered between the 49ers and Colts? Andy Behrens, Liz Loza, Matt Harmon, Tank… Source link

By Anirban Sen and Jessica DiNapoli (Reuters) -A merger with former U.S. President Donald Trump’s new social media venture has delivered a potential windfall of $420 million for a former finance executive who has been trying for a decade to reinvent himself as a serial dealmaker. Benessere Capital CEO Patrick Orlando’s stake in Digital World Acquisition Corp, the Miami-based blank-check acquisition firm he is leading, was worth $423 million on Thursday after his deal to merge with Trump Media… Source link

Raising tax rates on corporations and high-income households is a key part of Democrats’ plan to pay for their proposed multi-trillion-dollar social spending plan, but opposition to that approach from Sen. Kyrsten Sinema of Arizona has sent lawmakers scrambling to find alternative ways to offset costs. Given Sinema’s resistance, there’s a growing chance that the corporate income tax rate could remain untouched in the Democratic budget bill. Even the compromise rate of 25% reportedly… Source link

(Bloomberg) — A collapse in shares of Snap Inc. dragged technology companies exposed to digital advertising lower late on Thursday after the owner of the Snapchat app warned that customers are cutting back on ad spending. Most Read from Bloomberg Facebook Inc. and Twitter Inc. were among the biggest decliners, with each at one point sinking more than 6% in postmarket trading. Google-parent Alphabet Inc. slid 2.8%. Snap cited customers’ supply chain problems and Apple Inc.’s data… Source link

Stock futures opened lower Thursday evening as investors took in another batch of earnings results and more data on the pace of the economy recovery. Contracts on the S&P 500 edged lower by about 0.3% as the overnight session kicked off. The blue-chip index had hit record intraday and closing highs during the trading day on Thursday. Dow and Nasdaq futures also moved lower.  Snap (SNAP) shares sank more than 20% in late trading after missing third-quarter revenues and offering weak… Source link

(Bloomberg) — Intel Corp. Chief Executive Officer Pat Gelsinger spelled out the cost of his drive to return the world’s largest chipmaker to leadership of the industry and investors weren’t pleased. Shares fell about 9% in extended trading. Most Read from Bloomberg Executives said profitability will suffer during the next few years because of increased spending on the company’s manufacturing technology. Near term, if Intel’s fourth quarter comes in as the chipmaker projects, sales… Source link