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August 12, 2022
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  • Finance

5 top after-hours movers on Yahoo Finance

Administrator July 28, 2022

Stocks rallied Wednesday afternoon, hitting the highs of the session after the Federal Reserve raised interest rates by 0.75% and Federal Reserve Chairman Jerome Powell signaled the central bank may slow the pace of its hiking cycle. The tech-heavy Nasdaq jumped 4% during the session, posting its best gain in more than two years.

Here are five top trending tickers on Yahoo Finance:

Meta (META): The company reported second-quarter earnings after the bell Wednesday, missing Wall Street’s expectations on the top and bottom lines. Meta posted sales of $28.82 billion, its first ever year-over-year revenue decline. EPS of $2.46 was short of street’s expectations of $2.52. Facebook daily active users increased by 8 million to 1.97 billion, but Facebook monthly active users fell to 2.93 billion. Jefferies’ Brent Thill told Yahoo Finance that it is a ‘tough environment for ad-driven names’ and that it’s ‘impossible to forecast what Facebook is doing right now.’ The stock is down nearly 50% since the start of the year.

Qualcomm (QCOM): Qualcomm reported third-quarter earnings of adjusted EPS of $2.96 on revenue of $10.93 billion, beating the street’s expectations. Revenue guidance for the current quarter missed expectations, weighing on shares in after-hours trading. Moor Insights and Strategy Founder and CEO Patrick Moorhead told Yahoo Finance there was “a lot of good news in this release but the very important guidance piece is spooking investors, and that’s all about the consumer market.” Qualcomm also announced a 7-year extension of its patent licensing agreement with Samsung through 2030.

Best Buy (BBY): The retailer cut its forecast for the quarter, citing weaker demand for consumer electronics. Best Buy now expects Q2 FY23 comparable sales to decline approximately 13%. Best Buy CEO Corie Barry wrote “While our financial results are not where we expected them to be this year, our sales continue to be higher than they were pre-pandemic. We remain a strong, profitable company with a unique position in an extremely innovative, vibrant industry that is more relevant than ever in the lives of consumers.”

Etsy (ETSY): Shares jumped more than 15% in after hours after the company reported second-quarter earnings that beat on the top and bottom lines. Etsy recorded EPS of $0.51 on revenue of $585 million. Etsy CEO Josh Silverman said in a press release that the quarter’s revenue growth was “attributable to the Etsy marketplace transaction fee increase, the addition of Depop and Elo7 to our House of Brands portfolio, and the strength of our Etsy Ads product, which continues to be a great solution for sellers looking to grow their businesses.”

Spirit (SAVE), Frontier (ULCC): The airlines called off a proposed merger, ending one of the most watched battles in the airline industry. The decision came after JetBlue had offered a cash deal of about $3.7 billion compared to Frontier’s $2.6 billion cash and stock offer. Spirit Airlines CEO and President Ted Christie said “Moving forward, the Spirit Board of Directors will continue our ongoing discussions with JetBlue as we pursue the best path forward for Spirit and our stockholders.”

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  • National Business

National Business Research Institute recognizes BrightView for Its Commitment to Customer Engagement

Administrator July 28, 2022

BrightView PLANO, Texas (PRWEB) July 28, 2022 The National Business Research Institute (NBRI) is pleased to once again welcome BrightView (NYSE: BV), the nation’s leading commercial landscaping company, to the NBRI Circle of Excellence! This is the fourth consecutive year that BrightView’s Snow Services team has won the prestigious award. The NBRI Circle of […]

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VICTORIA, Seychelles, July 08, 2022–(BUSINESS WIRE)–KuCoin, a leading global cryptocurrency trading platform, announced that its venture capital arm – KuCoin Ventures – has made a strategic investment in Torches Finance, the decentralized lending protocol based on KuCoin Community Chain (KCC). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220708005104/en/ KuCoin Ventures Makes Strategic […]

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Administrator July 18, 2022

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 Monday, July 18, 2022 Today’s newsletter is by Brian Sozzi, an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. So there I am […]

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Social Media ‘Financial Gurus’ Are Changing The Finance Landscape, For The Worse

Administrator July 9, 2022

Over the last few years, social media influencers have gained immense prominence as a larger number of users continue joining social media platforms. These influencers create content in the form of photos, and short and long-form videos, usually focusing on a particular topic. For instance, some influencers focus on wellness, while others focus on fitness, […]

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