DIRS.INFO The most relevant business & tech news

☆ Inside the week that changed Facebook forever: Record Meta layoffs have sowed confusion and rising anger among employees who are beginning to lash out at CEO Mark Zuckerberg.
▼ + stars: | 2022-11-12 | by ( Kali Hays | Rob Price | Sydney Bradley | ) www.businessinsider.com time to read: +12 min

Meta let go of 11,000 employees, and it's not clear which divisions and roles were most affected. After a harrowing week of record layoffs at Meta, CEO Mark Zuckerberg and other executives convened a town hall meeting on Friday for everyone who survived the cull. During the Q&A part of the call, an employee asked a question referring to Twitter's job cuts, and Zuckerberg weighed in, according to people who attended. Roughly 11,000 staff were let go, the first major job cuts in the company's 18-year history. Analysts at Jefferies called it a "Zuck U-Turn" in a research note to clients, saying the job cuts will boost profits while not impacting Meta's growth trajectory.

☆ This may be the start of a traditional post-midterms rally as signs of cooling inflation emerge
▼ + stars: | 2022-11-10 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

October's cooler-than-expected consumer inflation report triggered a massive surge in stocks that could herald the traditional midterm election year fourth-quarter rally. To be sure, they also caution that there's risk the rally could be derailed by another hot inflation report or other factors, like the crypto meltdown. Thursday's CPI report breaks a string of inflation surprising to the upside. Bitcoin also rallied after the CPI report, gaining more than 6% to a level of $17,554 on Coin Metrics in mid-morning trading. Strategists warn the rally could be temporary, and Emanuel called it a "bear market rally."

☆ Pakistan's Imran Khan relaunches political march after surviving gun attack
▼ + stars: | 2022-11-10 | by ( Asif Shahzad | ) www.reuters.com time to read: +3 min

"Our march wouldn't stop," Khan said, adding the protest will instead gather strength as it closes on the capital Islamabad. His successor Prime Minister Shehbaz Sharif has rejected the demand, saying the election will be held as scheduled later next year. Interior Minister Rana Sanaullah has said the shooter was a "self motivated and committed person" who carried out the attack on religious basis. The former premier instead alleges that Sanaullah, the prime minister and a Pakistan military general from the country's spy agency, Inter Services Intelligence (ISI), were involved in the assassination attempt. The police have the suspected shooter in custody after he was intercepted by a Khan supporter who threw off his aim.

☆ Meta employees are shell-shocked and angry after Mark Zuckerberg laid off 11,000 workers. Remaining staff are still unsure exactly who got fired.
▼ + stars: | 2022-11-10 | by ( Kali Hays | Rob Price | Sydney Bradley | ) www.businessinsider.com time to read: +11 min

Meta let go of 11,000 employees, and it's not clear which divisions and roles were most affected. Shortly before a somber video call with tens of thousands of employees on Wednesday, Mark Zuckerberg hosted a smaller call with managers at Meta. Zuckerberg fielded questions from managers asking how laid-off employees were chosen and how long the plan had been in the works. "Class act as always," one departing employee said sarcastically of Zuckerberg's call for laid-off workers. "This will add up to a meaningful cultural shift in how we operate," Zuckerberg told remaining employees.

☆ Netflix COO Greg Peters is charged with driving the streamer's new ads business. Here's what's at stake and why insiders see him as a future CEO.
▼ + stars: | 2022-11-10 | by ( Lucia Moses | Elaine Low | ) www.businessinsider.com time to read: +8 min

Netflix has tasked COO Greg Peters with figuring out its ad push, its biggest initiative in a decade. And the executive tapped to lead the charge is chief operating officer Greg Peters, who's long been the company's go-to for new business ventures. Joining Netflix in 2008 as chief streaming and partnerships officer, Peters quickly stood out as a rising star. The ads tier could also help Netflix with its expansion overseas, where its results have been uneven so far, Mahaney said. Peters played a key role in getting Netflix's creative execs on board with the ads business, one Hollywood insider noted.

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, AMC, Kroger, Disney, Robinhood & more
▼ + stars: | 2022-11-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Evercore ISI upgrades Kroger to outperform from in line Evercore said in its upgrade of the stock that it sees "high teen upside." Wedbush reiterates Tesla as outperform Wedbush says it's concerned about company founder Elon Musk selling shares of Tesla. "For Musk who multiple times over the past year has said he is 'done selling Tesla stock' yet again loses more credibility with investors and his loyalists in a boy who cried wolf moment. Musk is the most important part of the Tesla story by a wide margin and every move he makes has a major impact on Tesla stock." Morgan Stanley reiterates Disney as outperform Morgan Stanley says it's standing by shares of Disney after the company's disappointing earnings report on Tuesday.

☆ 3 takeaways from our daily meeting: CPI in focus, Disney’s dismal quarter, Meta layoffs
▼ + stars: | 2022-11-09 | by ( Krystal Hur | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Looking ahead to CPI Disney's dismal earnings Club names in the news 1. Club names in the news: META, CSCO Meta Platforms (META) laid off 13% of its workforce , or over 11,000 employees, on Wednesday. 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.

☆ Stocks making the biggest moves midday: Disney, Meta Platforms, Lucid Motors, Roblox and more
▼ + stars: | 2022-11-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Meta Platforms — The stock jumped 8% after the company announced it will lay off more than 11,000 employees. News Corp — Shares slid 5% after the company reported a slight miss on its fiscal first quarter earnings, compared to FactSet estimates. AMC Entertainment — Shares dropped 9.8% after the company reported another quarterly loss as operational costs increased. SeaWorld Entertainment — The stock fell 8% after the company reported weaker-than-expected earnings or $1.99 per share on revenue or $565 million. Roblox — Shares tumbled more than 15% after the company reported a bigger loss than expected for the third quarter.

☆ Evercore ISI upgrades Kroger, sees shares jumping 18% as inflation boosts grocery shopping
▼ + stars: | 2022-11-09 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

Now is the time to buy into shares of Kroger, according to Evercore ISI. The firm on Wednesday upgraded the grocery chain to outperform from in-line and raised its price target to $56 from $49. He also sees further potential for upside when the merger between Kroger and Albertsons is completed, adding fuel to his bull case for the stock. Albertsons merger boost The planned merger with Albertsons could add a nice kicker to Kroger shares at the end of the year. If the merger doesn't go as smoothly as hoped or price cuts hurt Kroger's sales, the upside that Evercore sees could fizzle.

☆ Meta didn't slow its expense growth fast enough, says Evercore's Mark Mahaney
▼ + stars: | 2022-11-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMeta didn't slow its expense growth fast enough, says Evercore's Mark MahaneyMark Mahaney, Evercore ISI, joins 'Closing Bell' to discuss Meta after the company announces plans to cut 13 percent of its workforce, about 11,000 workers.

☆ Mark Zuckerberg's giant middle finger to Wall Street backfired for Meta. Welcome to the 'biggest two week pivot' analysts have ever seen.
▼ + stars: | 2022-11-09 | by ( Alistair Barr | ) www.businessinsider.com time to read: +4 min

The move went stunningly wrong, crushing the shares of Facebook parent company Meta. What really surprised Wall Street were the other steps Zuckerberg is taking:Meta extended its hiring freeze through the first quarter of 2023. This one by Zuckerberg ranks at or near the top, with the analyst calling it "the biggest two week pivot we've ever seen." For Zuckerberg, Meta and even Silicon Valley, this is another sign that the eras of abundance and founder-friendly investing are ending. For Wall Street, this all came about two weeks too late.

☆ Lack of 'red wave' means market risk is to the downside, Evercore ISI says
▼ + stars: | 2022-11-09 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

The stock market may be vulnerable to further losses if Republican performance doesn't live up to pre-election expectations, Evercore ISI said. The bank's senior U.S. policy and politics strategist Tobin Marcus said a "red ripple" or "purple haze" rather than an expected "red wave" could spur a market selloff, which Evercore ISI would see as an opportunity to accumulate stocks. "Because we believe that a clearer red wave was priced in, the immediate risk to markets is probably to the downside," Marcus said in a note to clients. NBC News has yet to call which party will hold the House or Senate, given the uncertainty in key races. Marcus said a Republican-majority House is still in the picture, which means market expectations could stay intact.

☆ What Cramer is watching Wednesday — Disney CEO must go, no Red wave, Meta job cuts
▼ + stars: | 2022-11-09 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

We looked how Club stocks did a year after the past five midterms. Affirm (AFRM): Many price target cuts and the stock down 12% in the premarket. Morgan Stanley cuts price target to $11.50 per share from $15; keeps underperform (sell) rating. BofA cuts price target to $61 per share from $73. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Here are Tuesday's biggest analyst calls: Apple, Meta, Lyft, Nvidia, Roblox, Freshpet & more
▼ + stars: | 2022-11-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Tuesday: Deutsche Bank reiterates Roblox as buy Deutsche says it expects a strong earnings report for Roblox when the online gaming platform company releases results on Wednesday. Deutsche Bank upgrades Dave & Buster's to buy from hold Deutsche said in its upgrade of the stock that it sees a "compelling" risk/reward. Bank of America reiterates Meta as neutral Bank of America says it sees too many headwinds for Meta shares right now. Bank of America reiterates Nvidia as buy Bank of America says it's standing by shares of Nvidia heading into earnings next week. Deutsche Bank reiterates Electronic Arts as a top pick Deutsche says it's very bullish on the company's upcoming release slate. "

☆ Evercore ISI downgrades Lyft, recommends owning Uber shares instead
▼ + stars: | 2022-11-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Lyft 's latest earnings report underscores why Uber is the stock to own in the ongoing battle between the two ridesharing companies, according to Evercore ISI. To be sure, Lyft saw one of its strongest periods of active driver growth over the last year, Mahaney noted. That said, Lyft did lose some market share to Uber as the company rolled out temporary driver incentives. Looking ahead, Mahaney called Lyft's fourth-quarter outlook "soft," noting that he expects slower year-over-year revenue growth. Lyft shares have tumbled roughly 67% this year.

☆ Why technology spending will rise even as tech stocks tank and layoffs mount
▼ + stars: | 2022-11-07 | by ( Tim Mullaney | ) www.cnbc.com time to read: +6 min

The path of tech demand has been one of the key questions as markets try to handicap the odds of a 2023 recession. "CEOs and CFOs have no intention of cutting tech spending," said Gartner chief forecaster John-David Lovelock. On the bright side, the GDP report painted a picture of fairly strong technology demand, said Bank of America Merrill Lynch economist Michael Gapen. The shortfall in investment spending was driven by a sharp decline in residential investment, he said. In percentage terms, cloud spending will rise by about 20 percent for the next two to three years, according to Gartner's forecast.

☆ Apple's ad business is quietly expanding into streaming ads and sponsorship, as it pitches $4 million packages for Major League Soccer
▼ + stars: | 2022-11-07 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

Apple's advertising empire is extending into its Apple TV service. Apple's advertising empire is set to expand beyond the App Store when Apple TV begins broadcasting Major League Soccer for ten seasons beginning February 2023 — a global deal that is costing Apple $250 million per season. The next tier comes at $3 million and the last tier was described by one person familiar as more "a la carte," in which advertisers can cherry-pick a smaller number of specific placements. The Apple TV app will host an exclusive MLS streaming service, and Apple TV+ customers and MLS season ticket holders will be able to access it for free. Today, that business is mostly focused on search ads in the App Store, as well as ads within its News and Stocks apps.

☆ This move can trim or erase a tax bill if you had to sell stocks at a loss this year
▼ + stars: | 2022-11-07 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +6 min

That means many investors will have to sell assets at a loss, going against one of the most basic investing rules, to buy low and sell high. How tax loss harvesting works Investors who have sold assets at a loss this year from a brokerage account can use that to offset or even completely erase any capital gains taxes owed. If your losses exceed your capital gains or you didn't have any, you can deduct up to $3,000 of income from your federal tax bill. Evercore ISI in a Nov. 6 note made a list of such stocks that it sees as good buying opportunities if you sold a similar name for tax loss harvesting. Because of this, it may make sense to consult both a tax professional and a financial advisor to ensure you're using tax loss harvesting as efficiently as possible.

☆ What Cramer is watching Friday — Starbucks soars on China hope, jobs growth still strong
▼ + stars: | 2022-11-04 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Club holding Coterra Energy (CTRA): In Q3, nearly 500% year-on-year revenue growth to $2.52 billion. Cowen downgrades, sees acute pressure from worsening macro; management pulled 30% growth target. Warner Bros Discovery (WBD): $2.5 billion in cash, $50 billion in gross debt. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Midterms could be a positive catalyst for stocks as investors await next big inflation report
▼ + stars: | 2022-11-04 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

There are two big hurdles for markets in the week ahead - another potentially hot consumer inflation report and the Congressional midterm elections. "100% of the time, the S & P 500 has been up 12 months after the midterm election." Midterm rallies Stocks tend to gain in the final months of midterm election years, and strategists have been expecting the market to move higher. CFRA Chief Market Strategist Sam Stovall said even when interest rates are climbing, the midterm election has been a catalyst for stocks. He examined market performance in other midterm election years when interest rates were going up.

☆ Is it now time to buy Uber shares? Two market players give their take
▼ + stars: | 2022-11-03 | by ( Zavier Ong | ) www.cnbc.com time to read: +5 min

With such a mixed picture, should investors buy the dip on Uber, or should they continue to stay on the sidelines? But for those who are looking for growth and future profit assets — which is a very tough thing to do in this market — there's Uber. While Uber's growth potential is undeniable, investors have long been skeptical about its ability to do so profitably. The company will generate about $4 billion in free cash flow in 2024 and $5 billion in 2025, he estimates. It's popping on free cash flow.

☆ Streaming tech firm Roku dives as tough ad market hits performance
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +2 min

Nov 3 (Reuters) - Roku Inc (ROKU.O) market-cap dropped by nearly a fifth on Thursday following downbeat forecasts a day earlier, as the streaming tech provider suffers from a collapse in advertising dollars. The company expects fourth-quarter revenue substantially below market estimates, while its adjusted operating loss outlook was much wider than Wall Street expectations. "We expect these conditions to be temporary, but it is difficult to predict when they will stabilize or rebound," Roku Chief Executive Anthony Wood said in a letter to investors. Roku stock, down 19% at $43.74 before the bell, has lost more than three-quarters of its value this year. "Roku is likely dead money over the next two quarters at least, but should rebound within the next twelve months," Wedbush Securities said.

☆ With Fed over, the midterm election next week is new anxiety point for markets
▼ + stars: | 2022-11-03 | by ( Bob Pisani | ) www.cnbc.com time to read: +1 min

After the bizarre Fed press conference yesterday, there was much chest-thumping from the punditry class loudly trumpeting how much they knew — just knew — that the move off the recent lows was nothing but a bear market rally. "A retest of the October lows, particularly Growth centric NDX [Nasdaq 100], becomes base case," Julian Emanuel, a senior managing director at Evercore ISI, said. For strategists and analysts, the psychological effect may be earnings estimates will continue to come down, something Haefele acknowledged. "We now expect global earnings per share to fall by 3% in 2023, versus the bottom-up consensus for 5% growth," Haefele said. While the November Fed meeting does clear away some uncertainty (the VIX dropped Wednesday), the election next week is the next anxiety point for the markets.

☆ The market will see a new bottom long-term, says Evercore ISI's Julian Emanuel
▼ + stars: | 2022-11-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe market will see a new bottom long-term, says Evercore ISI's Julian EmanuelJulian Emanuel, Evercore ISI senior managing director, joins 'Closing Bell: Overtime' to discuss the choppiness in the market and upcoming headwinds and tailwinds for stocks.

Nov 2 (Reuters) - CVS Health Corp (CVS.N) on Wednesday forecast a 2023 profit below Wall Street estimates and said it hoped to mitigate the hit from a performance rating decline for its most popular Medicare plan by encouraging members to shift to other plans. read more CVS took a pre-tax charge of $5.2 billion in the third quarter related to the settlement. The settlement price, which was below investor expectations, according to Evercore ISI analyst Elizabeth Anderson, and other measures announced by the company helped lift CVS Health shares nearly 5%. In its insurance business, CVS said it is trying to move members out of Aetna's National PPO plan, which currently accounts for 59% of its Medicare Advantage plan members. CVS' health insurance business as well as peers Elevance Health (ELV.N) and UnitedHealth (UNH.N) have benefited from a slow recovery in elective procedures and a fall in COVID cases that has kept costs in check.

Search resuls for: "Isi"

25 mentions found