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☆ India starts inquiry into Google app payments antitrust compliance
▼ + stars: | 2023-05-12 | by ( Aditya Kalra | ) www.reuters.com time to read: +2 min

Tinder-owner Match Group (MTCH.O) and Indian startups have asked the watchdog to investigate Google's (GOOGL.O) new User Choice Billing (UCB) system, which they alleged was anti-competitive. The Competition Commission of India (CCI) on Friday issued an order stating "it is of the opinion that an inquiry needs to be made." The order is not public and Google did not immediately respond to a request for comment. Google later began offering UCB to allow alternative payments alongside Google's when purchasing in-app digital content, but some companies complained the new system still imposes a high "service fee" of 11%-26%. Google has previously said the service fee supports investments in the Google Play app store and the Android mobile operating system, ensuring it distributes it for free, and covers developer tools and analytic services.

☆ Factbox: Tech firms, Wall Street lead job cuts in Corporate America
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +8 min

read moreSpotify Technology SA (SPOT.N):Music streaming service Spotify is cutting 6% of its workforce, or roughly 600 roles. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. Workday Inc (WDAY.O):The software company will cut roughly 500 jobs, or 3% of its workforce, citing a challenging macroeconomic environment. Morgan Stanley (MS.N):The Wall Street powerhouse is planning to cut about 3,000 jobs in the second quarter, Reuters reported. MANUFACTURING SECTOR3M Co (MMM.N):The industrial conglomerate said it would cut 2,500 manufacturing jobs after reporting a lower profit.

May 2 (Reuters) - Match Group (MTCH.O) on Tuesday forecast second-quarter revenue below analysts' expectations, but said it is seeing signs of growth at Tinder after it made changes at the dating platform. Shares of the company, whose revenue per paying user grew by about 2% from a year earlier, rose 3% in volatile trading after the bell. The company forecast current-quarter revenue between $805 million and $815 million, compared with analysts' average estimate of $822.3 million, according to Refinitiv. Match Group said it saw paying users across its family of dating apps fall 3% from a year earlier to 15.9 million. The company reported revenue of $787 million in the three-month period ended March 31, compared with analysts' average estimate of $793.8 million.

May 2 (Reuters) - Tinder owner Match Group (MTCH.O) has said it will quit Russia by June 30, citing the need to protect human rights, one of many Western firms to leave since Moscow sent troops into Ukraine last year. "We are committed to protecting human rights," Match said in an annual impact report published on Monday. "Our brands are taking steps to restrict access to their services in Russia and will complete their withdrawal from the Russian market by June 30, 2023." Match shareholder Friends Fiduciary Corp said Match had set an example for others to follow in tying its decision to the human rights risks faced by the Ukrainian people. Moscow denies committing war crimes including forced deportations of children, and says the ICC decision is meaningless as Russia is not a member.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Here are Tuesday's biggest analyst calls of the day: Apple, Amazon, UPS, Netflix, WW, Disney & more
▼ + stars: | 2023-04-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Morgan Stanley names UnitedHealth a top pick Morgan Stanley says the healthcare company is best positioned in a recession. Morgan Stanley reiterates Netflix as equal weight Morgan Stanley said Netflix is the "streaming winner" but that it's "priced as such." Morgan Stanley downgrades Nasdaq to equal weight from overweight Morgan Stanley said that it has growth concerns for the exchange operator. JPMorgan upgrades Federated Hermes to overweight from underweight JPMorgan said the rate environment makes the capital market company's stock more attractive. Morgan Stanley upgrades AstraZeneca to overweight from equal weight Morgan Stanley said the pharmaceutical company is "leading the race" to outsmart cancer.

☆ Barclays upgrades Match shares, says Tinder parent is now a value stock
▼ + stars: | 2023-03-14 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Barclays said it's "swiping right" on Match , viewing it now as a value stock. "We believe MTCH has effectively transitioned from an Internet growth stock over the past few years to now a value stock due to its high-margin profile and strong cash flow generation," analyst Mario Lu wrote in a client note on Tuesday. Lu upgraded Match shares to overweight from equal weight. The analyst noted the continued risk of Tinder, one of Match Group's primary dating platforms, seeing continuous decline in payer growth. Lu estimates that a $500 subscription tier at Tinder could add approximately $560 million in revenue.

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, First Republic, Charles Schwab, Match & more
▼ + stars: | 2023-03-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Wells Fargo reiterates PNC as overweight Wells said PNC should benefit from a "flight to quality." Deutsche Bank reiterates Charles Schwab as buy Deutsche said liquidity risks for Charles Schwab are overblown. Wells Fargo reiterates Western Alliance Bancorp as overweight Wells said it's standing by shares of the regional bank. Wells Fargo reiterates American Express as overweight Wells said investors should buy the dip in American Express shares. Bank of America reiterates Amazon as buy Bank of America said it's standing by its buy rating on shares of Amazon.

☆ Bumble positive on 2023 as user growth defies economic gloom
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +2 min

Bumble forecast 2023 revenue growth between 16% and 19%, the midpoint of which was higher than analysts' estimates of 16.97%, according to Refinitiv data. Revenue at Badoo and its other apps, which accounts for nearly one-fifth of the total, fell 11.9% to $50.8 million. The company also said it expects paying users will continue to drop at Badoo - which has a more economically sensitive user base and has a large presence in Western Europe. In the last three months of 2022, Bumble's total paying users increased to 3.4 million from 3 million a year earlier. Quarterly net loss widened to $159.2 million, or 85 cents per share, from $13.9 million, or 7 cents per share, a year earlier.

☆ Bumble confident on 2023 as user growth defies recession fears
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

Feb 22 (Reuters) - Bumble Inc (BMBL.O) projected full-year revenue growth for 2023 above market estimates on Wednesday as users continued to sign up to its dating app despite a looming recession, sending the company's shares up 6% in extended trading. For the full year 2023, Bumble forecast revenue growth between 16% and 19%, the midpoint of which is above analysts' estimate of 16.97%, according to Refinitiv data. In the last three months of 2022, Bumble's total paying users increased to 3.4 million, from 3 million a year earlier. The company reported revenue of $241.6 million for the quarter, compared with analysts' estimate of $235.9 million, according to Refinitiv data. Reporting by Samrhitha Arunasalam and Vansh Agarwal in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Premarket stocks: Why traders are so infatuated with inflation
▼ + stars: | 2023-02-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

What’s happening: Investors will get some market direction clarity on Tuesday morning with the release of key inflation data. It’s not all about the Fed: Traders are infatuated with CPI, but it’s likely going to affect markets more than it will future Fed policy. “CPI is the big inflation report that affects markets more than any other,” he said. Even beyond housing, the services sector has seen year-over-year inflation higher than 3.9% every month since March 2021, said Chaudhuri. And as Powell noted in Washington last week, the stickiness of core services inflation is his greatest concern.

☆ Factbox: Tech firms, Wall Street titans lead job cuts in corporate America
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +8 min

REUTERS/Lucy Nicholson/File PhotoFeb 8 (Reuters) - Big Tech firms and Wall Street titans are leading a string of layoffs across corporate America as companies look to rein in costs to ride out a global economic downturn. Here are some of the job cuts by major American companies announced in recent weeks. TECHNOLOGY, MEDIA AND TELECOM SECTORIBM Corp (IBM.N):The software and consulting firm said it will lay off 3,900 employees. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. MANUFACTURING SECTOR3M Co (MMM.N):The industrial conglomerate said it would cut 2,500 manufacturing jobs after reporting a lower profit.

☆ Here are Thursday's biggest analyst calls: Meta, Nvidia, Tesla, FedEx, First Solar, Costco & more
▼ + stars: | 2023-02-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

"We downgrade First Solar to Neutral following +50% outperformance since August based on the benefit from the Inflation Reduction Act. Bank of America upgrades FedEx to buy from neutral Bank of America said in its upgrade on cost cuts. Bank of America upgrades Meta to buy from neutral Bank of America said it sees "multiple expansion" possibilities for Meta. Bank of America reiterates Costco as buy Bank of America said the warehouse club giant has a "strong value proposition." Bank of America reiterates Nvidia as buy Bank of America said it's standing by its buy rating ahead of the company's earnings report later this month.

The company gave a lackluster quarterly revenue forecast a day earlier that it blamed on a tough economy, a strong dollar and "significant" poor product execution at Tinder. The cuts have already taken place in the United States and are being implemented in other countries. "In addition to the cuts, we expect Match to place greater emphasis on marketing its Tinder and Hinge brands, core areas of growth for 2023," CFRA Research analyst Angelo Zino said. It forecast first-quarter revenue between $790 million and $800 million, lower than analysts' estimates of $817.3 million, according to Refinitiv data. The company also reported its first-ever quarterly revenue decline.

REUTERS/Dado Ruvic/IllustrationFeb 1 (Reuters) - Match Group Inc (MTCH.O) said on Wednesday it would lay off about 8% of its workforce, a day after it forecast first-quarter revenue below Wall Street expectations. Shares of the Texas-based firm were down 7.8%, having lost 11% after the bell on Tuesday following its downbeat forecast. The dating company joins Big Tech firms and Wall Street titans in reducing staff as they strive to cut costs amid concerns of a recession. The workforce reductions at Match are in-line with staff cuts across the broader tech sector, Zino added. Reuters GraphicsMatch forecast first-quarter revenue between $790 million and $800 million on Tuesday, lower than analysts' estimates of $817.3 million, according to Refinitiv data.

☆ Tinder owner Match to cut staff by about 8%
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: 1 min

Feb 1 (Reuters) - Match Group Inc (MTCH.O) said on Wednesday it would lay off about 8% of its workforce, becoming the latest tech company to cut jobs in the face of rising interest rates and lower spending from consumers. Reporting by Vansh Agarwal and Shreyaa Narayanan in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

While a tough economy and a stronger dollar had also crimped its business, poor product execution at Tinder was the "significant" culprit, Match said. Match reaffirmed its 2023 revenue growth forecast of 5% to 10%. It expects revenue growth to reach double digits by the fourth quarter on increasing momentum in the second half. The company forecast first-quarter revenue between $790 million and $800 million, lower than analysts' estimates of $817.3 million, according to Refinitiv data. Revenue fell 2% to $786 million in the fourth quarter ended Dec. 31, also missing expectations of $787.3 million.

☆ Jobs report to give clues about where economy is headed
▼ + stars: | 2023-01-29 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

Investors will get another clue when the January jobs report is released on Friday. Economists predict that 185,000 jobs were added last month, a slowdown from the gain of 223,000 jobs in December and 263,000 in November. A further deceleration in the labor market would likely please the Fed, as it would show that last year’s rate hikes are successfully taking some air out of the economy. Along those lines, average hourly earnings, a measure of wages that is also part of the monthly jobs report, are expected to increase 4.3% year-over year. So far, tech earnings season is not off to an inspiring start, with Microsoft (MSFT), Intel (INTC) and IBM (IBM) all reporting weak results.

☆ Here comes the biggest week of earnings. Plus an AI ode to the Dow
▼ + stars: | 2023-01-28 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

While only six companies in the Dow Jones Industrial Average are reporting next week, about 20% of the S & P 500 reports, making it the biggest week of earnings this season. The Dow and the S & P 500 gained 2.2% and 2.9% this week, respectively, while the Nasdaq Composite rose 4.7%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Inflation is killing the first dinner date
▼ + stars: | 2023-01-01 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

Eighty-four percent of singles say they now prefer a casual first date, according to the survey. “Singles, more than ever, are open to free dates,” Rachel DeAlto, Match’s chief dating expert, said in an interview. Prior to the pandemic, around 8% of people were open to a video date before meeting in person, according to Match. “Less affluent people are being more careful.”People still want to date, he said, but they are making adjustments. “Why should I spend extra time and money just to go on a date that might end poorly?”

☆ Premarket stocks: Wall Street's biggest winners and losers in 2022
▼ + stars: | 2022-12-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

The S&P 500 is down nearly 20% and with two trading days left in the year, investors’ hopes of a miraculous recovery have been dashed. The energy sector has so far returned more than 60% this year, significantly outperforming every other S&P 500 sector. Occidental Petroleum has been the biggest gainer of the year in the S&P 500, up 122% year-to-date. The energy sector reported the highest year-over-year earnings growth of all 11 sectors, at 137.3%. Elon Musk’s Tesla (TSLA) is also down about 70%, making the auto tech company the third worst performer this year.

☆ The 10 biggest losers in the S&P 500 this year have erased $1.6 trillion in market value
▼ + stars: | 2022-12-27 | by ( Carla Mozée | ) www.businessinsider.com time to read: +9 min

In a losing year for US stocks, here are the 10 biggest percentage decliners on the S&P 500. The 10 largest S&P 500 stock losers wiped out $1.6 trillion in market value. The 10 S&P 500 companies that have experienced the largest stock-price declines heading into the end of 2022 have wiped out a combined market value of more than $1.6 trillion. PayPalTicker: PYPLYTD Performance: -63.4%Market Value Decline: $142.49 billionLike many tech companies, the digital payments processor is seeing a slowdown after a pandemic boom. Photo by George Frey/Getty ImagesTicker: GNRCYTD Performance: -73.8%Market Value Decline: $16.6 billionMass COVID lockdowns helped sparked big demand for backup generators as people worked and studied at home.

☆ Bumble shares tumble after weak fourth-quarter revenue forecast on forex hit
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

Bumble also faces competition from larger rival Match Group Inc (MTCH.O), which topped revenue estimates last week on the back of a jump in paying users for its flagship app Tinder. Bumble now expects current-quarter revenue between $232 million and $237 million, compared to Wall Street's estimates of $254.5 million, according to Refinitiv data. Earlier in March, Bumble said it is discontinuing operations in Russia, including the removal of all of its apps from Apple App Store and Google Play Store in Russia and Belarus. Bumble, which made its market debut in February 2021, said its total paying users increased to 3.3 million during the quarter. Reporting by Vansh Agarwal and Shreyaa Narayanan in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Morgan Stanley says online dating stock Match is one of the best stories heading into 2023
▼ + stars: | 2022-11-03 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Match, the company behind dating platforms such as Tinder, Hinge and OkCupid, is worth loving – even during its current troubles, Morgan Stanley said. Analyst Lauren Schenk reiterated Match as overweight, saying it's at an attractive entry point despite disappointing market performance this year. One point of concern for Match is its fourth-quarter outlook, the analyst said, as the guide was slightly softer than expected. She said Morgan Stanley's estimates on 2022 and 2023 revenue and EBITDA remain largely unchanged. However, with the stock down 65.4% this year, Schenk did note there was multiple contractors driving down performance.

SummarySummary Companies Fed rate decision due at 2 p.m. However, U.S. private payrolls increased more than expected in October, the ADP National Employment report showed, offering further evidence that the Fed's rapid rate hikes have yet to significantly slow economic growth. The report showed private payrolls rose by 239,000 jobs last month. The non-farm payrolls report due on Friday will offer further clues on the outlook for interest rates. read more read moreTinder-owner Match Group (MTCH.O) rose 6.7% after reporting better-than-expected third-quarter revenue.

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