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This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/in-a-tech-wreck-barry-diller-could-deliver-buffett-beating-returns-11668386425
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/in-a-tech-wreck-barry-diller-could-deliver-buffett-beating-returns-11668386425
In a recent TikTok video, 98-year-old Lily Ebert told her 1.9 million followers about the Auschwitz number tattooed on her forearm: A-10572. Like many Holocaust survivors, Ebert didn’t talk about the experience for decades. The last family photo of Lily and her siblings, taken around 1944; Lily Ebert is bottom right. The social media sensation known for her lighthearted dance videos has 8.7 million followers on TikTok and 2.8 million on Instagram. Those followers are learning through her new TikTok documentary series “How to: Never Forget” that she is also the granddaughter of two Holocaust survivors.
Elon Musk could succeed in making Twitter Inc. both bigger and smaller. His new rivals certainly wouldn’t mind the latter. The voluble billionaire’s first two weeks running the social platform he spent $44 billion to buy have been predictably messy. Half the workforce has been canned, several top-level executives have either quit or been fired, new subscription plans and verification changes have seen hasty and problem-riddled rollouts, and policies around key topics like content moderation have seemingly been made by tweet and discarded the same way.
The long list of Big Tech companies laying people off surely says something about the current state of the economy, but it might tell us more about the sector’s prospects: Investors probably need to look elsewhere for growth. Business software company Salesforce also started dismissing some employees this week. Marking one of his first moves since taking the company over, Elon Musk axed about half of Twitter’s workforce last week, while ride-hailing company Lyft , payments company Stripe and iBuyer Opendoor Technologies also just announced major reductions. Those followed a dizzying list of earlier announcements from Netflix, Shopify, Tesla, Snap, Compass, Peloton, Twilio and more. Meanwhile, Amazon.com has said it would freeze corporate hiring for months, and Alphabet ’s Google has asked some employees to apply for new jobs to remain at the company.
Lyft Keeps Pumping the Wrong Gas
  + stars: | 2022-11-08 | by ( Laura Forman | ) www.wsj.com   time to read: 1 min
As the great ride-share recovery seems just about tapped out, Lyft insists it is just getting started. On Monday, the ride-hailer reported the slowest revenue growth in more than a year, while adjusted earnings before interest, taxes depreciation and amortization fell slightly on an annual basis in the third quarter. After rising 12% on a sequential basis in the second quarter, active riders increased just 2%, even while still remaining nearly a million riders short of prepandemic levels. Lyft shares fell more than 13% in after-hours trading following the report.
Match Group Has Still Got Some Game
  + stars: | 2022-11-02 | by ( Laura Forman | ) www.wsj.com   time to read: 1 min
In online dating, most people lead with the flashy picture and disappoint in the flesh. New Match Group Chief Executive Officer Bernard Kim did the opposite. Shares of the dating giant rose more than 16% in after-hours trading Tuesday after it posted third quarter numbers that were so boring they were actually kind of sexy. Match’s revenue grew 1% year on year, while its adjusted operating income came in essentially flat on that basis. But when you beat what looks like sandbagged guidance by as much as 10%, as Match did on the bottom line, investors tend to perk right up.
Uber Earns Its Five-Star Rating From Wall Street
  + stars: | 2022-11-01 | by ( Laura Forman | ) www.wsj.com   time to read: 1 min
Uber’s fourth-quarter outlook was better than feared, with the company giving earnings guidance well above consensus forecasts. Wall Street is a tough customer these days, but Uber just scored a big tip. While much of the tech sector has sunk thus far this earnings season due to macroeconomic pressures, currency exchange and—in Meta Platforms ’ case—heavy investments even in the face of a contracting economy, Uber is bucking the trend. Despite reporting that trips per monthly active platform consumer were still below prepandemic levels, higher prices and lower costs helped drive third-quarter revenue and adjusted earnings before interest, taxes, depreciation and amortization above Wall Street’s forecasts.
Consumers are spending a record number of hours on social media, but the platforms have had difficulties profiting off of your time lately. Long booming online ads businesses, historically the predominant way social-media companies made money, have cratered this year thanks to a weakening economy and Apple ’s ad tracking changes that have made it more difficult for platforms to demonstrate return on advertisers’ investments. Snapchat parent Snap Inc.’s growth fell off a similar cliff, down over 60 percentage points over the same period. Shares of major social-media companies, including Facebook owner Meta Platforms, Snapchat and Pinterest , are down an average of 60% this year as investors have broadly lost faith in their first act. Suddenly, subscriptions have gone from a theoretical call option on a secondary revenue stream to a must have.
Meta’s Reverse Darkens Mark Zuckerberg’s Dream
  + stars: | 2022-10-26 | by ( Laura Forman | ) www.wsj.com   time to read: 1 min
Mark Zuckerberg wants to sell the world on his “amazing” $1,500 virtual-reality headset. Meta Platforms said Wednesday that its revenue fell 4% year on year in the third quarter—its second consecutive quarter of annual declines—while net income fell 52%. For the fourth quarter, the company formerly known as Facebook is forecasting revenue to fall ever further annually with the midpoint of its outlook implying a drop of about 7%. Meanwhile, although Meta claims to be making changes across the board to operate more efficiently, its expense projection for the full year remains little changed. Beyond that, the company said it expects operating losses for its Reality Labs division, which houses its metaverse ambitions, to grow significantly next year.
Grindr Public Listing Can’t Keep It Casual
  + stars: | 2022-10-22 | by ( Laura Forman | ) www.wsj.com   time to read: 1 min
Investors will soon be able to hook up with the world’s most-popular gay-dating platform. A merger with the special-purpose acquisition company Tiga Acquisition, announced in May, values Grindr at $2.1 billion and is expected to close by the end of the year. Grindr’s popularity relative to its total market size is impressive. A study commissioned by Grindr estimates the size of the LGBTQ+ population as of 2021 was just about 7% of the global tally. Meanwhile, Grindr had amassed 601,000 paying users as of last year, according to its registration filing, about 40% of the number of paying users of Bumble , the No.
Snap Crackled, Now It Stopped
  + stars: | 2022-10-20 | by ( Laura Forman | ) www.wsj.com   time to read: 1 min
For a company focused on filters, Snap sure is getting some raw treatment in the stock market this year. And, like social media users today, things are only getting more real. Snap shares fell 25% after hours on Thursday following a third-quarter report that showed revenue rising just 6% year-over-year—below both Wall Street’s expectations and the 8% growth Snap said it was experiencing as of late August. Facing a weakening macroeconomic environment, platform policy changes and increased competition, Snap declined to provide guidance Thursday, but did warn that revenue growth “is highly likely” to decelerate further in the fourth quarter.
Boston Beer has an average analyst rating of hold and 8% downside to the average price target, according to FactSet. "In a recession, beer tends to gain about one percentage point of share from spirits. How to play the space With that mindset, you shouldn't alter your long-term investments because of a potential recession, Sarwat said. Its average price target is buy. Duckhorn also has an average rating of buy, with 30% upside to the average price target.
Cruise Stocks Don’t Lead to Buried Treasure
  + stars: | 2022-10-12 | by ( Laura Forman | ) www.wsj.com   time to read: 1 min
Cruise-line stocks have been taking on water since Covid-19 hit, but lately investors have really abandoned ship. Shares of Carnival, Royal Caribbean Group and Norwegian Cruise Line Holdings are down an average of 23% over the past month, with Carnival shares falling nearly 36% over that period. The cruise industry has been one of the hardest hit throughout the pandemic. Yet now, regulators are allowing more ships in the water, capacity is up, and mask and vaccine restrictions are lifting. So why are investors bailing?
Louise Fletcher, a late-blooming star whose riveting performance as the cruel and calculating Nurse Ratched in “One Flew Over the Cuckoo’s Nest” set a new standard for screen villains and won her an Academy Award, has died at age 88. Fletcher died in her sleep surrounded by family at her home in Montdurausse, France, her agent David Shaul told The Associated Press on Friday. Fletcher had moved to Los Angeles to launch her acting career soon after graduating from North Carolina State University. Estelle Louise Fletcher was born the second of four children on July 22, 1934, in Birmingham. The Fletcher children were helped by their aunt, with whom they lived in Bryant, Texas, for a year.
Oscar winner Louise Fletcher dies at 88- AP
  + stars: | 2022-09-24 | by ( ) www.reuters.com   time to read: +1 min
Fletcher died in her sleep surrounded by family at her home in Montdurausse, France, her agent David Shaul told the news agency, without giving a cause for her death. Register now for FREE unlimited access to Reuters.com RegisterReuters was not immediately able to reach Fletcher's agent or son for comment. The movie also won awards for Best Picture, Best Director, Best Leading Actor and Best Screenplay. Fletcher divorced Bick in 1977 and is survived by her sons, according to the Associated Press. Register now for FREE unlimited access to Reuters.com RegisterReporting by Juby Babu in Bengaluru.
CNN —Louise Fletcher, the actress who won an Academy Award for playing the villainous Nurse Ratched in “One Flew Over the Cuckoo’s Nest,” died Friday in France, according to her agent David Shaul. “One Flew Over the Cuckoo’s Nest” starred Jack Nicholson as a new patient at a mental institution, where Mildred Ratched – played by Fletcher – reigns as an authoritarian, controlling nurse. In her Oscar speech, Fletcher sweetly thanked her “Cuckoo’s Nest” colleagues and then, using sign language, acknowledged her deaf parents watching at home. Louise Fletcher Wins Best Actress: 1976 Oscars“I want to say thank you for teaching me to have a dream. The film swept the top five Oscars for 1975 – for Best Picture, director Milos Forman, adapted screenplay, actor Nicholson and actress Fletcher.
A striking dockworker on a picket line outside the Port of Liverpool during a strike in Liverpool, UK, on Tuesday, Sept. 20, 2022. This eight-day strike overlaps with a second strike at the UK's largest container port, the Port of Felixstowe, set to begin on Sunday. With multinational companies including Ford — which on Monday warned of a significant cost increase from supply chain pressures — exporting from the UK, the continuing labor strife will stress an already congested European port network. Ford is one of thousands of companies that use both the UK ports and the ports in Germany, Belgium, and Netherlands to export auto parts. According to FreightWaves SONAR data, the Port of New York and New Jersey receives 30 percent of all UK exports.
Sursa foto: David Forman / ImageSource / ProfimediaDin mai, Cipru renunță la carantină pentru turiștii vaccinați sau cu un test PCR negativAutoritățile cipriote au anunțat că renunţă la carantină pentru vizitatorii din alte state ale Uniunii Europene şi multe alte ţări începând cu data de 10 mai. Condiţia este ca vizitatorii să fie vaccinaţi cu dozele necesare împotriva COVID-19 sau să poată prezenta un test negativ PCR nu mai vechi de trei zile, a declarat adjunctul ministrului cipriot pentru turism, Savvas Perdios, citat de Agerpres. Vaccinarea cu serul rusesc Sputnik V va fi tratată în mod egal cu inocularea cu alte vaccinuri, a spus Perdios. Aceste reguli se vor aplica tuturor statelor din zona Schengen, precum şi vizitatorilor din SUA, Regatul Unit, Israel, Egipt, Qatar, Emiratele Arabe Unite, Canada, Elveţia, Australia şi Noua Zeelandă, informează postul de radio de stat RIK. Turismul este pentru Cipru cel mai important sector economic, notează dpa.
Persons: David Forman Organizations: Uniunii Europene, Agerpres Locations: Cipru, SUA, Regatul Unit, Israel, Egipt, Qatar, Emiratele Arabe Unite, Canada, Elveţia, Australia, Noua Zeelandă
„Remember, remember the 5th of November”, cu aceste cuvinte începe unul dintre cele mai apreciate filme din istoria cinematografiei. Astfel, V îndeamnă concetățenii să i se alăture și să participe la complotul de pe 5 noiembrie împotriva guvernării, parlamentului, întregului sistem. Pe 5 noiembrie 1605, Guy Fawkes a fost descoperit într-un tunel de dedesubtul Parlamentului cu 36 de butoaie de praf de pușcă. Departamentul pompierilor dintr-un orășel de provincie dă o petrecere mare pentru a celebra a 86-a aniversare a fostului lider. Joker devine nu doar un sumbru caz social, ci și o poveste moralizatoare.
Persons: James, Guy Fawkes, James I . Fawkes, Fawkes, Milos Forman, Patrick McMurphy, Mildred Ratched, McMurphy, J.J . Dawson, Michael, Winston Smith, John Hurt, Gregor Fisher, Smith, Julia, Suzanna, Terry Gilliam, Sam Lowry, Jill, François Truffaut, Montag, Linda, Cineva, Todd Phillips, Arthur Fleck Organizations: Adevărului Locations: Marii Britanii, Angliei, Americii, Londra, Oceaniei
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