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“Buy the dip” has been a headline-making phrase lately. Whether from professional strategists, or in the form of a meme on Twitter, the mantra has inspired an entire generation of investors to go bargain hunting for stocks in the face of a market pullback. Moreover, price action since the onset of the pandemic has generally favored that strategy: every drawdown since the beginning of 2020 has been followed by a comeback to a new high. But after a dismal start to the year for equities, and… 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 Thursday, February 3, 2022 Omicron wave retreats, leaving wreckage in its wake Like a strong tide that crashes into a beach shore before it washes back out to sea, the Omicron variant of COVID-19 — which has spent months buffeting the global economy — is mercifully in retreat. But it’s leaving some debris in its wake. On Wednesday, we learned… Source link

Technologists, for one, are also talking about a radical shift to Web3, where large online platforms will be replaced by systems underpinned by blockchain, a move that would require rethinking the companies’ revenue model. Regulators, meanwhile, are targeting Google and Facebook’s dominance of the digital ad space; and young people’s gravitation to gaming, messaging and TikTok has already threatened Facebook’s all-important engagement metrics with advertisers. Source link

SEOUL, Feb 3 (Reuters) – South Korea’s telecommunications regulator wants better compliance plans from Apple Inc (AAPL.O) and Alphabet’s (GOOGL.O) Google before finalising rules for a law banning app store operators from forcing software developers to use their payments systems, officials said on Thursday. South Korea passed the law, an amendment to the Telecommunication Business Act, last year. The rules, due to be drawn up by March 15 and called the enforcement ordinance, will lay out what… Source link

On Tuesday, Google announced its earnings for the final quarter of 2021. Like many of its tech brethren, it was a very good quarter. Google reported record revenue of $75 million, most of which came from the company’s advertising business.  In fact, Google’s advertising business is so good that the company loses money on everything else, but still managed to post one of the most profitable quarters of any company, ever. For the three months ending in December, Google made almost $21 billion… Source link

Did you know that Google Maps has a nifty little trick that lets you adjust zoom with just one finger? Because I sure as hell didn’t until yesterday, when a tweet from Sketchfab CEO Alban Denoyel alerted me to its existence via a years-old YouTube video from 2013. The shortcut is simple: just double-tap the maps interface, but instead of lifting your finger after the second tap (the shortcut for zooming in), you leave it touching the screen. Then a swipe up zooms out, and a swipe down… Source link

After more than 24 hours to think about it, Miami Dolphins owner Stephen Ross issued a fiery response to the claims made against him by ex-coach Brian Flores. Ross released a statement just before midnight local time on Wednesday calling Flores’ allegations in a class-action lawsuit “malicious” and “defamatory” while vowing to defend himself.  “With regards to the allegations being made by Brian Flores, I am a man of honor and integrity and cannot let them stand without responding,” Ross… Source link

Wendy’s (WEN) — the self-proclaimed “Queen of Spice” — is adding two new menu entrees: a hot honey chicken biscuit breakfast sandwich and a chicken sandwich. Dubbed the “hot honey duo,” the latest entrants into the chicken sandwich wars will retail for $5.99 (chicken sandwich) and $3.19 (chicken biscuit), hitting Wendy’s locations nationwide on February 8th. Both options include what the company says is the “sweet taste of honey with a fiery habanero kick” and will be a part of the ‘Made… Source link

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