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☆ Stocks making the biggest premarket moves: Meta, Rivian, WW International, KeyCorp and more
▼ + stars: | 2023-03-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

WW International — Shares of company formerly known as Weight Watchers jumped as much as 17.6% in premarket trading after announcing a deal to acquire telehealth firm Sequence. The Wall Street firm said the aircraft's weight has raised questions and led him to wonder if the design is "overly aggressive." Its price target of $39 implies 24.5% upside from Monday's close. The Wall Street firm said there is a large unmet need for resistant hypertension treatment and said Mineralys has "potential best-in-class" data. The Wall Street firm said Hensai "outshines peers, with its superior scale and margin, and its strong project pipeline."

☆ The job cuts by companies like Uber and GM targeting low performers show CEOs are taking a hard-line approach to management
▼ + stars: | 2023-03-04 | by ( Rebecca Knight | Marguerite Ward | ) www.businessinsider.com time to read: +6 min

To wit, GM this week said it was axing roughly 500 salaried positions in performance-related job cuts. Business advisors who work with executives told Insider that companies conduct what are sometimes called "quiet layoffs" for two main reasons. Job cuts send a potent messageGM this week said it was axing roughly 500 salaried positions in performance-related job cuts. He recently told Insider that the widespread layoffs in tech are more likely due to companies parroting each other rather than necessary cost-cutting. In other words, a rival's announcement of job cuts gives other companies reason to follow suit.

☆ Stocks making the biggest moves midday: Apple, Meta, Costco, Marvell, C3.ai and more
▼ + stars: | 2023-03-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

Costco Wholesale — The retailer's shares dropped 3.4% after the company's fiscal second-quarter earnings missed analysts' expectations. Marvell Technology — The chip stock lost 7.3% after Marvell Technology reported mixed quarterly results and provided weak guidance. The move comes after Bumble announced it would price a secondary offering of 13.75 million shares of its common stock at $22.80 per share. The company earned an adjusted 37 cents per share, above the 29 cents expected by analysts, according to Refinitiv. The company posted a loss of 6 cents per share, compared to Refinitiv analysts' estimates for a 22 cent loss.

☆ Stocks making the biggest moves midday: Norwegian Cruise Line, Target, Advance Auto Parts and more
▼ + stars: | 2023-02-28 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Hims & Hers Health — Shares of the telehealth stock soared by 17% after the company reported quarterly results that surpassed estimates. However, Target's full-year earnings guidance came in below expectations. Zoom's full-year revenue guidance came in lighter than expected, but topped estimates on its earnings guidance for 2023. Norwegian Cruise Line Holdings — The cruise company fell 12% after reporting a wider-than-expected loss for the fourth quarter. Analysts surveyed by Refinitiv had forecast an 85 cents per share loss on revenue of $1.5 billion.

☆ Twitter's team focused on ethics rushed to publish research papers before Elon Musk's takeover fearing he would lay them off, report says
▼ + stars: | 2023-02-16 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Twitter's AI ethics team hurriedly published studies in the weeks before Elon Musk's takeover, Wired reported. The team feared "the runway would shut down when the Elon jumbo jet landed," one ex-staffer told Wired. In Musk's first week owning Twitter, he laid-off most of the team, known internally as META. "We were rightfully worried about what this leadership change would entail," Rumman Chowdhury, who was engineering director on the team, told Wired. Employees told Wired that several more papers on misinformation and algorithms were quickly published too around the time of the takeover.

☆ Stocks making the biggest moves midday: Zillow, Microsoft, Meta, Fidelity National and more
▼ + stars: | 2023-02-13 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Microsoft — The technology corporation's shares rose more than 3% on Monday, pushing its market cap over $2 trillion once again, after Morgan Stanley reiterated its overweight rating for the stock. Ralph Lauren — Shares of the apparel giant rose almost 4% after Bank of America upgraded the stock to buy from neutral. Meta — The Facebook parent's stock rose nearly 3% after the Financial Times reported it is planning another round of layoffs. Five Below — The discount retailer's stock rose 2.9% after Roth MKM upgraded it to buy from hold, noting it sees attractive growth ahead. Late last week, Reuters reported that Tesla must open its supercharging network to competitors in order to qualify for U.S. subsidies.

☆ Stocks making the biggest moves premarket: Fidelity, Ralph Lauren, Caterpillar and more
▼ + stars: | 2023-02-13 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

The company's stock price has soared by more than 44% so far this year. Caterpillar — Shares of the machinery company fell more than 1% after Baird downgraded Caterpillar to neutral from outperform. The call follows an upbeat earnings report on Thursday. Cadence Design Systems — Shares were up 1.7% in premarket trading ahead of the company's scheduled fourth-quarter earnings release on Monday. Cadence expects to report revenue in the range of $870 million to $890 million.

☆ Ex-Meta exec had 'real issues' with the company's decisions and spending: 'I thought large fractions were really poorly spent'
▼ + stars: | 2023-02-06 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Former Meta VR exec John Carmack said he had "real issues" with the company's plans and spending. "I was having some real issues at Meta with large-scale strategic directions," Carmack said in an interview with the business publication, Dallas Innovates. "I'm sure you've seen some of the headlines about how much money they're spending, and I thought large fractions were really poorly spent." He had previously been Oculus' CTO. Zuckerberg has taken several strides in recent months to cut back on company spending — including embracing his role as "Chopper-in-Chief," Insider's Kali Hays reported.

☆ Stocks making the biggest moves midday: Meta, Align Technology, Coinbase, Eli Lilly and more
▼ + stars: | 2023-02-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Late Wednesday, Meta reported revenue that topped analysts' expectations and announced a $40 billion stock buyback plan. Firms also responded positively to Meta's earnings report, with Bank of America and Goldman Sachs rating the stock a buy. W.W. Grainger reported adjusted quarterly earnings of $7.14 per diluted share, which came in ahead of the $7.01 per share estimated by analysts, according to FactSet. Align Technology — The orthodontics company saw its shares surge 28% the day after its quarterly earnings and revenue beat analysts' expectations, according to Refinitiv. The company posted earnings and revenue that came in short of analysts' estimates, according to FactSet.

☆ Stocks making the biggest moves premarket: Meta, Align Technology, FedEx, Honeywell and more
▼ + stars: | 2023-02-02 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Align Technology — The orthodontics company saw its shares rise 14% after its quarterly earnings and revenue beat analyst expectations. Align also said it will repurchase up to $1 billion of its common stock over the next three years. The company generated $9.19 billion of revenue, while analysts surveyed by Refinitiv were looking for $9.25 billion. Beauty — Shares for the cosmetics company jumped 1.67% after its fiscal third quarter revenue topped analysts' estimates. Refinitiv analysts had previously called for per-share earnings of 23 cents on revenue of $121.8 million.

☆ Stocks making the biggest moves after hours: Meta, Align Technology, e.l.f Beauty and more
▼ + stars: | 2023-02-01 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Meta — The Facebook parent jumped 17% after the company announced a $40 billion stock buyback when reporting quarterly results. Meta beat analysts' estimates for fourth-quarter revenue, according to Refinitiv. Align Technology — Shares of the orthodontics company gained 14% after the company beat analysts' estimates in its latest quarter. e.l.f Beauty – The cosmetics company's shares leapt 11% after e.l.f Beauty exceeded analysts' estimates in its fiscal third quarter. That compares with analysts' estimates of $1.38 in per-share earnings on $5.68 billion in revenue.

☆ Harvard professor emerita says Elon Musk's Twitter takeover is 'fundamentally intolerable' and a threat to political stability
▼ + stars: | 2023-01-31 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Data privacy expert Shoshana Zuboff told the FT that Elon Musk's Twitter is a threat to democracy. The former Harvard Business School professor calls Musk's Twitter takeover "fundamentally intolerable." However, The New York Times reported that racist, homophobic, and anti-semitic slurs have increased on the platform after Musk's takeover. But Zuboff thinks the risks of the Musk takeover and the corporate control of information by big tech are even bigger — and may result in unintended consequences. "These spaces cannot exist solely under corporate control," Zuboff said.

☆ Google let go of 31 massage therapists at its California offices amid mass layoffs
▼ + stars: | 2023-01-25 | by ( Aaron Mok | Grace Dean | ) www.businessinsider.com time to read: +3 min

Google laid off 31 massage therapists in California, according to state filings. The massage therapists were among the 12,000 employees Google let go last Friday. Out of the 12,000 employees Google let go last Friday, 31 of them were massage therapists based in California, according to WARN (Worker Adjustment and Retraining Notification) notices that Google filed with California on January 20. Twenty-seven massage therapists were let go from Google's Mountain View office, the filings show. Google, which is known for its generous staff perks, gave employees free massages based on their performance.

☆ Stocks making the biggest moves midday: Wayfair, Meta, Apple, Spotify, Qualcomm and more
▼ + stars: | 2023-01-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Wayfair — Shares of the furniture retailer jumped 24.1% on Monday after Wayfair received upgrades from multiple Wall Street firms, include a double upgrade to overweight from underweight at JPMorgan. Spotify — Spotify gained 3.1% after the company sent an internal memo to staff on Monday announcing plans to lay off 6% of its global workforce, or about 600 employees. Western Digital — Shares jumped 7% after Bloomberg reported that merger talks between Western Digital and Kioxia are advancing. Western Digital would spin off its flash business and merge it with Kioxia in a separately traded company, the report said. Evoqua shares jumped more than 14% following the announcement.

☆ Trump's campaign plans to push Facebook to let him back on the site — and use House Republicans' power as leverage: report
▼ + stars: | 2023-01-18 | by ( Chris Panella | Madison Hall | ) www.businessinsider.com time to read: +3 min

Trump's campaign plans to leverage House Republicans' power to get his Facebook account reinstated early, according to NBC News. A Trump campaign adviser told NBC News that "keeping Trump off Facebook just looks political." Trump was suspended after the Capitol riot two years ago, with Facebook planning to review his suspension this year. A Trump adviser told NBC News that they plan to use House Republicans to pressure Meta into letting him access his account if Meta doesn't reinstate him. "If Facebook wants to have this fight, fine, but the House is leverage, and keeping Trump off Facebook just looks political," the adviser told NBC News.

☆ Crypto is a ‘hot ball of money’ with very little intrinsic value, hedge fund says
▼ + stars: | 2023-01-17 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

For the uninitiated: Momentum trading is in an investment strategy that aims to capitalize on a trend. See a stock going up, buy the stock, make money. See a stock going down, short it, make money. The crypto trading world functions in much the same way. The momentum effect becomes self-fulfilling “as market participants attempt to front run the hot ball of money.”

☆ Meta's ad business is making a comeback thanks to its AI-powered improvements — but core Facebook is still struggling to get spend
▼ + stars: | 2023-01-12 | by ( Lauren Johnson | Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

They're now seeing improvements in performance, and are planning to devote bigger budgets to the platform this year. Those capabilities are finally showing up in Meta's ad offering. Another example is a recently-released feature called Advantage+ that uses Meta's AI to find relevant audiences for ads. Analysts at Arete research forecast a 6% decline in Facebook's annual ad revenue to $72.4 billion this year, though they also expect Instagram ad revenue will grow by 2% to $36 billion. Besides TikTok, Meta is now going head-to-head with Apple, and a host of new retail media and streaming TV ad businesses.

☆ It's too early to share Wall Street's renewed optimism for mega-cap tech stocks
▼ + stars: | 2023-01-06 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Some Wall Street analysts are starting to like Big Tech again, following the sector's beatdown in 2022. What Wall Street is saying Piper Sandler called out Club stocks Alphabet (GOOGL) and Amazon (AMZN) as top buys. As a result, Snapchat (SNAP) and Club name Meta Platforms (META) can now only track your activity outside of their own apps if you allow it. Piper analysts note that year-over-year comps for Amazon will be easier in 2023 than they were last year. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Silicon Valley's job cuts are everybody else's gain as tech workers find exciting new opportunities outside Big Tech
▼ + stars: | 2022-12-21 | by ( Diamond Naga Siu | Rebecca Knight | ) www.businessinsider.com time to read: +7 min

Recruiters and other experts tell Insider that tech workers are in especially high demand in sectors including insurance, healthcare, retail, government, and banking. As you may expect, the traditional tech industry remains the largest employer of tech workers, the experts say. ZipRecruiter's Pollak said the turmoil in Big Tech was pushing "some tech workers to explore opportunities outside" the usual suspects for the first time. Tech job creation and hiring numbers remain strong, but layoffs keep coming, underscoring a tech labor market in flux. As for how laid-off tech workers ought to position themselves for these jobs, the Hired Guns recruiter Hemming has some advice.

☆ Stocks making the biggest moves midday: Disney, Tesla, Mesa Air and more
▼ + stars: | 2022-12-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Check out the companies making the biggest moves midday Monday:Disney — Disney fell 3.6% after its film, "Avatar: The Way of the Water" fell short of box office expectations. The highly-anticipated movie brought in $134 million, less than the $175 million expected by analysts and under the $135 million to $150 million range Disney had forecast. Casino operators — Wynn Resorts fell 4.2%, while MGM Resorts lost 2.9% and Las Vegas Sands dropped 1.6%. Mesa Air Group — Shares of the airliner jumped 5% after Mesa Air announced it is finalizing a deal to run regional flights for United Airlines, while ending its partnership with American Airlines. Warner Music Group — Shares gained 2.5% following an upgrade to overweight from Atlantic Equities.

☆ Twitter slipped on removing hate speech even before Elon Musk takeover, E.U. says
▼ + stars: | 2022-11-24 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +3 min

Twitter removed 45.4% of hate speech posts it was notified about in a sample this year, down from 49.8% in 2021, European Union officials wrote in their report. The data was collected from March to May, months before tech magnate Elon Musk bought Twitter for $44 billion and began loosening the site's enforcement even more around hateful posts. law, the Digital Services Act, threatens tech companies with fines in the billions of dollars if they don't strictly police their platforms. Musk has said he's focused less on removing hateful posts and more on limiting how often people view such posts — keeping them from going viral. officials said that they worked with 33 civil society organizations and three public bodies to notify tech companies of violations and monitor takedowns.

☆ Zuck refuses to let his metaverse dream die. Wall Street has finally had enough.
▼ + stars: | 2022-10-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Meta shares slumped nearly 20% in after-hours trade to $104.30 on Wednesday. The drop in Meta's share price this year has shaved off 61% off Mark Zuckerberg's net worth. The share price slide is also chipping a chunk off CEO Mark Zuckerberg's rapidly shrinking fortune. Following Wednesday's earnings announcement, Meta shares slumped nearly 20% in after-hours trade to $104.30. However, the metaverse is likely "the most potent headwind" to Meta's share price, he added.

☆ Stocks making the biggest moves premarket: Meta, Ford, Honeywell, Caterpillar & more
▼ + stars: | 2022-10-27 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Meta — The social media stock dropped 22.8% after Meta reported an earnings miss and a weaker-than-expected fourth-quarter forecast. Meta reported earnings of $1.64 per share on revenue of $27.71 billion. Caterpillar — Shares popped 5.1% after Caterpillar reported earnings that beat on the top and bottom lines. Caterpillar was expected to earn $3.16 per share on revenue of $14.33 billion, according to consensus estimates from Refinitiv. The defense company reported revenue of $8.97 billion, compared to forecasts of 9.13 billion, according to consensus estimates compiled by Refinitiv.

☆ Josh Brown buys Meta shares, betting Zuckerberg 'doesn't want to burn his own house down'
▼ + stars: | 2022-10-27 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Ritholtz Wealth Management CEO Josh Brown is taking advantage of Meta's stock plunge. He bought shares before the open Thursday, although it is not a substantial position, he said on CNBC's " Halftime Report ." Brown's move isn't necessarily an endorsement of the company or its CEO Mark Zuckerberg . "I can come in today and make the bet that this guy doesn't want to burn his own house down," Brown said. "The issues with Meta — the spending, the lack of focus, the lack of clarity — all of that stuff I think is fixable," Brown said.

☆ A year ago, Mark Zuckerberg rebranded Facebook as Meta to 'bring the metaverse to life.' His net worth has since collapsed from $118 billion to $37 billion.
▼ + stars: | 2022-10-27 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Mark Zuckerberg announced a year ago that Facebook had rebranded to become Meta. Meta stock, which accounts for most of Zuckerberg's wealth, has since crashed. Zuckerberg was worth $118 billion on October 28, 2021 — the day the Meta rebrand was announced — according to the Bloomberg Billionaires Index. This morning, his net worth was about $37 billion, according to Insider's own calculations based on Bloomberg's index. ET on Thursday, Facebook stock had crashed 23.4%, to $99.39.

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