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Krispy Kreme — Krispy Kreme popped nearly 30% and headed for its best day on record. Trump Media & Technology Group — Shares of former President Donald Trump's social media company surged 35% after it began trading on the Nasdaq . Trump Media completed its merger with shell company Digital World Acquisition Corp . McCormick — The stock jumped 10% after the spice maker topped earnings and revenue expectations for its fiscal first quarter. Reddit — Reddit popped about 15% as investors continued buying up the social media stock following its Thursday debut on the New York Stock Exchange .
Persons: Kreme, McDonald's, Donald Trump's, McCormick, Morgan Stanley, Alex Harring, Michelle Fox, Jesse Pound, Pia Singh Organizations: Trump Media & Technology, Nasdaq, Trump Media, Revenue, New York Stock Exchange, Viking Therapeutics, Seagate Technology, Micron Technology, Mizuho Securities, UPS —, UPS, JPMorgan Locations: FactSet
"Advertising on Reddit is rapidly evolving, and we are still in the early phases of growing this business," Reddit wrote in its IPO filing. The company said advertisers were attracted to Reddit due to its "high-intent" audience, much of which is hunting for product recommendations. And elsewhere, Reddit doesn't have the kind of e-commerce structure that Meta, TikTok, and Google have built, experts said. It has poached ad talent from companies like Pinterest and Meta to grow its ad business. Also last year, Jim Squires, a former longtime Meta ad exec, joined Reddit in a new role as EVP of business marketing and growth.
Persons: it's, Reddit, Reddit hasn't, Brad Kay, Reddit didn't, haven't, TikTok, Jerry Daykin, Daykin, Carly Carson, Reddit doesn't, Anthony Macro, Harold Klaje, Klaje, Jim Squires, Jeff MacDonald, That's, MacDonald, PMG's Carson Organizations: Google, Business, Brand, Meta, Beam Suntory, PPC, Reddit, YouTube Locations: Meta
SAN FRANCISCO (AP) — Reddit said Friday that the Federal Trade Commission has opened an inquiry into the social media platform’s sale, licensing or sharing of its users' posts and other content to outside organizations for use in training artificial intelligence models. The company disclosed the inquiry Friday in a filing with the Securities and Exchange Commission that cited a letter from the FTC dated Thursday. That arrangement will also give Reddit access to Google AI models for improving its internal site search and other features. Reddit declined to comment or answer questions beyond a written statement about the deal. Friday's disclosure comes as Reddit prepares to sell shares to the public for the first time.
Persons: — Reddit, , ” Reddit, Reddit Organizations: FRANCISCO, Federal Trade Commission, Securities and Exchange Commission, FTC, Google Locations: San Francisco
The search giant is paying Reddit $60 million a year for access to its content. Google has signed a content licensing deal with the social media platform, Reuters reported on Wednesday, citing sources familiar with the matter. The search giant will pay Reddit $60 million a year for access to its content, per Reuters. It's not clear at this point what part of Reddit's content Google will end up using most while training its AI. However, some Reddit users have slammed Google's deal with Reddit and accused the social network of profiting off its users' data without their consent.
Persons: , It's, Reddit Organizations: Google, Service, Reuters
Alexis Ohanian and the Williams sisters have bought another sports team to bring to Los Angeles. Ohanian and the Williams sisters are the first to buy a TGL golf league team. Ohanian is already the principal owner and founding investor of LA's National Women's Soccer League team, Angel City FC. Alexis Ohanian said in a tweet that their daughter Olympia is also a co-owner of the new golf team. A rendering of the TGL golf league venue in Florida.
Persons: Alexis Ohanian, Williams, Tiger Woods, Rory McIlroy, Ohanian, Serena Williams, Venus, Eva Longoria, Jessica Chastain, Christina Aguilera, Charles Krupa, Woods, McIlroy, Mike McCarley, McIIroy, Justin Thomas, Jon Rahm, LIV Golf, LIV, Phil Mickelson, Brooks Koepka, There's, LIV Golf's Organizations: TGL, Angel City FC, Morning, Los Angeles Golf Club, NFL, MLB, NBA, NHL, MLS, Seven, Los, LA's, Women's Soccer League, Williams, Serena Ventures, TMRW Sports, PGA, NBC Sports, Golf, PGA Tour, Tour, Masters Locations: Los Angeles, Angeles, Olympia, Palm Beach , Florida, Florida, Saudi Arabia
It's the first team for TGL, a new pro golf league established by Tiger Woods and Rory McIlroy. The couple, along with Williams' sister Venus, have bought the first golf team for TGL, a new league developed by golf greats, Tiger Woods and Rory McIlroy. Ohanian and the Williams sisters are the first to buy a TGL golf league team. Alexis Ohanian said in a tweet that their daughter Olympia is also a co-owner of the new golf team. A rendering of the TGL golf league venue in Florida.
Persons: Alexis Ohanian, Williams, Tiger Woods, Rory McIlroy, Ohanian, Serena Williams, Venus, Eva Longoria, Jessica Chastain, Christina Aguilera, Charles Krupa, Woods, McIlroy, Mike McCarley, McIIroy, Justin Thomas, Jon Rahm, LIV Golf, LIV, Phil Mickelson, Brooks Koepka, There's, LIV Golf's Organizations: TGL, Angel City FC, Morning, Los Angeles Golf Club, NFL, MLB, NBA, NHL, MLS, Seven, Los, LA's, Women's Soccer League, Williams, Serena Ventures, TMRW Sports, PGA, NBC Sports, Golf, PGA Tour, Tour, Masters Locations: Los Angeles, Angeles, Olympia, Palm Beach , Florida, Florida, Saudi Arabia
The decisions by Twitter and now Facebook-parent Meta to bring back Trump could push — or at least provide cover for — a number of other platforms to make similar moves. Facebook and Twitter restricted Trump’s accounts in the aftermath of the January 6 attack. Many other platforms followed suit by banning or restricting Trump, including YouTube, Snapchat and game streaming platform Twitch. On Wednesday, Snapchat parent Snap indicated that it is not planning to revisit its decision to ban Trump’s account two years ago. “In January 2021, Donald Trump’s Snapchat account was terminated for violating our Terms of Service and Community Guidelines,” a Snap spokesperson said in a statement to CNN.
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