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Reddit, the social media platform synonymous with retail traders involved in the GameStop (GME) frenzy, could reportedly go public early next year. The company is looking to hire investment bankers and lawyers to prepare for an IPO in New York, according to a Reuters report. Some users on the Reddit forum WallStreetBets are concerned with how going public will impact the 16-year-old platform. WallStreetBets exploded in popularity during the GameStop frenzy and now has more han 10 million… Source link

The August jobs report added just a third of the jobs expected, changing the expectations for the Fed’s future moves. Economists agree that the rising specter of the Delta variant over the economy is responsible for the slowdown in jobs numbers. Though demand for labor is still strong, the changes in the economy’s trajectory make it “unlikely” the Fed will announce a taper at the September meeting, Bank of America analysts wrote in a note Friday. A taper is when the Fed slows down its… Source link

The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. But when you pick a company that is really flourishing, you can make more than 100%. For instance, the price of Yandex N.V. (NASDAQ:YNDX) stock is up an impressive 254% over the last five years. And in the last month, the share price has gained 15%. We note that Yandex reported its financial results recently; luckily, you can catch up on the latest revenue and profit… Source link

With the White House aiming for a Sept. 20 start date for COVID-19 booster shots for adults in the U.S., the countdown has begun for the U.S. Food and Drug Administration (FDA) to review booster data from vaccine companies.  Moderna (MRNA), meanwhile, is focused on halving its booster shot, from the current 100 microgram dose. The company submitted to the FDA an initial round of data to support the half dose this week. According to Moderna officials, the lower dosage has production benefits… Source link

The August jobs report out just before Labor Day missed big. The economy added just 235,000 new payrolls, dramatically falling short of expectations of 733,000 — by a third. The unemployment rate stayed the same at 5.4%. So why did it miss so big? Expectations underestimate the rising number of COVID cases. It sounds obvious in retrospect, but this month’s data encompasses the Delta variant’s economic impact, particularly on the leisure and hospitality sector. After adding 415,000 jobs in… Source link

In fact, the distribution payments were a centerpiece of last October’s Department of Justice antitrust lawsuit against Google, for good reason. It makes it nearly impossible for a smaller startup to get a foothold in the market where Google has a monopoly-type hold. According to StatCounter, the internet giant has 92% of the global search engine industry. And with the payouts only inclined to soar further, I don’t see how this blatantly anti-competitive practice can stand in court. Source link

Apple CEO Tim Cook announces the new iPhone 11 Pro as he delivers the keynote address during a special event on September 10, 2019 in the Steve Jobs Theater on Apple’s Cupertino, California campus. (Photo by Justin Sullivan/Getty Images) Apple (AAPL) is expected to launch its new iPhone, likely called the iPhone 13, later this month. Like football, the autumnal equinox, and pumpkin spice lattes, it’s all but a guarantee this fall. So what can you expect from Apple’s next-generation… Source link

Pinterest gave all its staff a day off on Friday. It joins firms like Nike, Bumble, and LinkedIn in giving employees bonus time off to combat burnout. Yahoo also gave staffers a day off to celebrate the firm’s acquisition by private equity firm Apollo. … Source link

The Pixel 6 phones are coming. How will they measure up to the Pixel 5? Google … 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, September 3, 2021 The August jobs report matters like every other jobs report.  In just a few hours, the Labor Department will release the August jobs report, and expectations are that hiring slowed down last month.  Consensus estimates call for non-farm payroll growth of 725,000 during the month, with the unemployment rate expected to… Source link