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Meta’s (META) supersized layoffs unveiled on Wednesday could serve up a major profit tailwind. “We believe Meta’s decision to lower the midpoint of FY23 total expense and capex guides by $1.5 billion and $1 billion, respectively, should provide a minimum 8% boost to FY23 EPS [earnings per share],” Jefferies Tech Analyst Brent Thill wrote in a note to clients. Meta said Wednesday it will slash 13% of its workforce, more than 11,000 employees, as it looks to redirect resources to Mark… Source link

Wall Street is growing more cautious on the outlook for corporate profits amid persistent inflation and rising interest rates, and Mr. Market may be starting to take notice. Down goes profits. Fourth quarter earnings estimates for the S&P 500 have tanked 4.9% since Sept. 30, according to new research from Credit Suisse strategist Jonathan Golub. Energy profits remain strong. The downward revisions have been most acute in the tech space as the sector deals with slowing growth, which has led to… Source link

Disney (DIS) stock plummeted on Wednesday after the media giant reported fourth-quarter earnings results that missed expectations across the board, with the exception of subscriber net additions. “A big part of the miss was really on the parks side,” Geetha Ranganathan, senior media analyst at Bloomberg Intelligence, told Yahoo Finance Live (video above), citing the parks’ consistent performance up until this quarter. “We were seeing them report some really, really stupendous numbers in terms… Source link

This article is part of our Yahoo DFS Basketball series. Get ready for a packed Wednesday in the NBA. There are 13 games on the schedule, leaving us with several intriguing matchups. Among the games with the earliest start times is a matchup between the Nets and Knicks in Brooklyn. The Knicks are coming off a win over the Timberwolves on Monday that improved their record to 5-5 for the season. The Nets are just 4-7, but they have been more competitive in their last few games. Another… Source link

The bloodletting in big tech continues after a year of slowing sales and profits along with de facto valuation resets at the hands of an aggressive Federal Reserve. Meta said Wednesday it will slash 13% of its workforce as it looks to redirect resources to Mark Zuckerberg’s metaverse project and appease angry shareholders. Meta stock popped 8% on the news, paring the year-to-date decline to 69%. Meta was the top trending ticker on the Yahoo Finance platform through early afternoon. Meanwhile, a… Source link

Today is known as ‘Exploit Wednesday’ because it follows Patch Tuesday when big-name vendors release multiple security patches. I have already reported this morning how Microsoft confirmed no less than four new Windows zero-days being actively exploited in the wild. While none are zero-days, Google is also rolling out an update to address six high-severity security issues impacting the Chrome browser. Four of these earned the hackers who reported them a total of $45,000. What are the six… Source link

Cadence Bank Houston Open Houston, TexasMemorial Park Golf Course – Par 70 – 7,412 yardsField – 132 entrantsPurse – $8.4M The Preview Nearly 50 players finished in double-digit red numbers last week at Mayakoba, but 10-under-par could be close to the winning score this week in Texas as a much tougher Memorial Park Golf Course hosts the Cadence Bank Houston Open for the third time since 2020. Length is emphasized on this 7,412-yard layout that features a trio of difficult par-5s, two of which… 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 Wednesday, November 9, 2022 Today’s newsletter is by Ethan Wolff-Mann, senior writer at Yahoo Finance. Follow him on Twitter @ewolffmann. Read this and more market news on the go with Yahoo Finance App. What’s hot? Anything but stocks for much of 2022. Many online savings accounts are paying north of 2.50%. A 6-month Treasury bond is yielding… Source link

Don’t expect a big move in the markets following the much-awaited conclusion of the midterm elections, Wall Street pros contend. “We actually think politics is going to have a somewhat minimal impact on the markets,” Emily Roland, co-chief investment strategist at John Hancock Investment Management, said on Yahoo Finance Live (video above). Wells Fargo strategist Chris Harvey echoed Roland’s sentiments in a recent note to clients: “Post-election, we would expect a small lift in the equity… Source link

Every SEO professional knows content is king. And not all content is created equal. But does your content’s readability affect how Google ranks you in search results? There are a lot of misconceptions about this. But what exactly is readability? If you’ve done any content creation, there’s a good chance you’ve come across readability tools like the popular Yoast SEO WordPress plugin before. These valuable tools evaluate your copy and generate statistics such as passive voice,… Source link