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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.

☆ These are the 11 cheapest electric cars you can buy in 2023
▼ + stars: | 2023-01-27 | by ( Tim Levin | ) www.businessinsider.com time to read: +6 min

We've found the 11 cheapest new EVs you can buy in 2023. Chevrolet Bolt EVThe 2023 Chevrolet Bolt EV. ChevroletRetail price: $27,800EPA-estimated range: 247 milesQualifies for EV tax creditChevy recently introduced a big brother for the Bolt EV, the Bolt EUV. MazdaRetail price: $34,110EPA-estimated range: 100 milesMazda's first electric model disappoints in the all-important range department. KiaRetail price: $39,550EPA-estimated range: 253 milesThe Kia Niro gets bold new looks for the 2023 model year.

Its customers are also scaling back investments, especially within its key vacuum division which counts the major semiconductor producers as its main clients. In the fourth quarter, order intake at its vacuum business fell 22% to 8.48 billion crowns, once again denting results. On an organic basis, or like-for-like, orders at the vacuum division fell 33%, while for the group as a whole they dropped 7%. JPMorgan said the poor order intake for the vacuum division was expected. Atlas as a group delivered an operating margin of 19.5% compared with 18% at its vacuum division.

Jan 24 (Reuters) - U.S. weapons maker Lockheed Martin Corp (LMT.N) on Tuesday forecast annual profit below Street expectations, hurt by lingering supply bottlenecks and higher costs, though a generous defense budget helped it beat fourth-quarter estimates. The defense contractor said it expected a profit of $26.60 to $26.90 per share in 2023. Lockheed forecast 2023 revenue between $65 billion and $66 billion, compared with market estimates of $65.74 billion. Bethesda, Maryland-based Lockheed Martin posted adjusted net income of $7.79 per share for the three months ended Dec. 31, compared with analysts' estimate of $7.39 per share. It reported fourth-quarter net sales of $18.99 billion, above expectations of $18.27 billion.

☆ An AI porn lobby group had its fundraising campaign booted off Kickstarter after raising $56,000
▼ + stars: | 2023-01-06 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Unstable Diffusion, which campaigns to legitimize AI porn, was banned from Kickstarter last month. Originating on Discord, Unstable Diffusion allows users to artificially generate explicit imagery. The group's campaign was active from December 9 to December 21, raising around $56,000 in its 12-day active period. However, they told Insider that the site had not banned all AI art. Everette Taylor, Kickstarter's CEO, seemingly referenced some of the backlash in a blog post about AI art published on December 21.

☆ A group trying to make AI porn legitimate had its campaign booted off kickstarter after raising $56K
▼ + stars: | 2023-01-06 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

☆ China's retail sales shrink far more than expected, while industrial production disappoints
▼ + stars: | 2022-12-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China reported economic data Thursday that missed expectations across the board during a month in which widespread Covid controls weighed on growth. Retail sales fell by 5.9% in November from a year ago, the National Bureau of Statistics said. Industrial production grew by 2.2% in November from a year ago, missing Reuters' forecast for a 3.6% increase. The reported pace was also slower than the 5% increase in October. Fixed asset investment for the year through November slowed to 5.3% year-on-year growth, missing Reuters' expectations for a 5.6% increase.

☆ 13 Unique Gifts for the Mom Who Doesn’t Want Anything
▼ + stars: | 2022-12-13 | by ( ) www.wsj.com time to read: +7 min

The woman forever insisting she doesn’t need anything for the holidays, her birthday or Mother’s Day. With 200-plus thoughtful prompts and quick-hitting questions (What food do you like to have made for you when you’re sick? For the fragrance fanThis cool subscription service makes a unique gift for any mom, delivering an 8 mL bottle of perfume to her door every month. For the mom who’s tired of getting flowersThink of succulents as the gateway into plant parenthood. For the mom who could use a pick-me-upDare we say this is the sort of offering that will have her buzzing?

☆ Goldman says it’s ‘difficult’ to envision a scenario where market goes substantially higher in 2023
▼ + stars: | 2022-12-12 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

"It is difficult to outline a realistic scenario that drives the S & P 500 substantially higher next year," David Kostin, Goldman's head of U.S. equity strategy, said in a note. The Wall Street firm said its base case is the S & P 500 will fall about 8% from here to 3,600 in the first half of 2023 before rallying 11% to 4,000 by the year-end. If the economy tips into a recession, Goldman said the S & P 500 would decline to 3,150. The S & P 500 fell into a bear market, and today stands more than 17% lower on the year. The firm noted that S & P 500 companies' third-quarter reports showed margins contracted year over year for the first time since the pandemic.

☆ GameStop's third quarter disappoints on lack of hit titles, inflation pinch
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

GameStop launched a digital wallet earlier this year to enable transactions in a marketplace it is building for gamers and others to buy, sell and trade non-fungible tokens, or NFTs. However, with crypto winter setting in and the value of cryptocurrencies plummeting, GameStop's digital wallet ambitions face a bleak future. GameStop posted revenue of $1.19 billion in the third quarter, missing estimates of $1.36 billion, according to Refinitiv IBES data. On an adjusted basis, the company lost 31 cents per share, compared with analysts' estimates of a loss of 28 cents per share. GameStop's expenses as a percentage of revenue was 32.7% in the quarter, down from 34.1% in the second quarter, as the company has tried to cut costs by reducing its workforce and shutting down stores.

[1/2] The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File PhotoLONDON, Dec 6 (Reuters) - Shares in miner and trader Glencore (GLEN.L) fell as much as 3.5% on Tuesday after 2023 production guidance across all the commodities it mines missed consensus estimates. The company gave guidance towards copper production of 1.04 million tonnes in 2023, down from 1.06 million this year and compared to a consensus of analysts at 1.124 million tonnes. Glencore expects 2022 EBITDA (earnings before interest, tax, depreciation and amortization) at $28.7 billion and free-cash-flow at $14.7 billion. Roughly 20% of total copper output comes from the mine.

Forecasts suggest La Nina may fade into a neutral phase midway through Argentina’s growing season, but it is too early to say with certainty. Current trade wind and ocean temperatures, including those in the Indian Ocean, could support further strengthening of La Nina in the coming weeks. But that should not necessarily heighten concerns since crop impacts are not perfectly correlated with La Nina strength. Rain during the 2008-09 growing season was less than two-thirds of normal, resulting in terrible crop yields, particularly for soybeans. Growing season rains were a third heavier than usual, and soybean yields were very good, but corn was excellent.

☆ Premarket stocks: Crypto is in crisis. It's not just because of FTX
▼ + stars: | 2022-11-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN Business —The stunning downfall of FTX, one of the largest cryptocurrency exchanges, sent shockwaves through the crypto universe last week. Sam Bankman-Fried, the 30-year-old crypto titan and chief executive of FTX, watched billions of his fortune evaporate in a bankruptcy filing that shook the trillion-dollar industry to its core. Those efforts mean capital is drying up – and that’s not just bad for crypto but other asset classes including stocks, too. Cryptocurrencies enjoyed huge injections of money during the pandemic era thanks to the Federal Reserve’s easy money policy. “In all, the slowdown in global money growth looks set to continue over the coming year, with some contraction looking likely in the US,” wrote JPMorgan strategist Nikolaos Panigirtzoglou in a note.

☆ The Fed made a 'serious mistake' by raising interest rates, and it could land the US in another Great Depression, says Ark's Cathie Wood
▼ + stars: | 2022-11-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The Fed is ignoring deflationary signals in an hark back to start of the Great Depression, tweeted Cathie Wood. Wood said she wouldn't be surprised to see broad-based inflation turn negative in 2023. To cool inflation, the Fed hiked interest rates sharply from 1919 to 1920, from 4.6% to 7%, she further noted. The central bank then raised rates in 1929 to curb market speculation — a move which, together with the Smoot-Hawley Tariff Act — contributed to the Great Depression. This time round, the Fed has already raised interest rates 16-fold — which Wood felt was a "serious mistake."

☆ WeWork to exit 40 U.S. locations to cut costs, revenue outlook disappoints
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

Nov 10 (Reuters) - WeWork Inc (WE.N) said on Thursday it will exit about 40 locations across the United States and forecast current-quarter revenue below estimates as the flexible workspace provider faces high expenses and a strong U.S. dollar. WeWork went public in 2021 after a two-year struggle and currently has a market cap of around $1.77 billion. The New York-based firm also reported third-quarter revenue of $817 million, below market expectations of $865 million, according to a Refinitiv poll of five analysts. Net loss per diluted share came in at 75 cents per share, below estimates for a loss of 45 cents. WeWork expects fourth-quarter revenue to be between $870 million and $890 million, below expectations of $923.8 million.

☆ Lyft shares plunge after revenue forecast disappoints
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Lyft logo is seen on a parked Lyft Scooter in Washington, U.S., March 29, 2019. REUTERS/Brendan McDermid/File PhotoNov 7 (Reuters) - Ride-hailing company Lyft Inc (LYFT.O) on Monday forecast current-quarter revenue slightly below Wall Street estimates, hurt by competition from Uber Technologies Inc , sending its shares down 13% in extended trading. But revenue per active rider increased 13.7% to $51.88, the highest growth compared to the prior two quarters. Lyft forecast current-quarter operating profit above Wall Street estimates, as it bets on demand for rideshare and cost cuts such as headcount reduction and closing office spaces. For the fourth quarter, the company expects revenue between $1.15 billion and $1.17 billion, while analysts expect $1.17 billion.

☆ Asia stocks resilient as Wall Street slips, China trade disappoints
▼ + stars: | 2022-11-07 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

"With China going into winter, most analysts think a change in zero-COVID is unlikely until at least March." A little of that reversed on Monday, with the Aussie down 0.7% at $0.6421 after jumping 3% on Friday. S&P 500 futures dipped 0.2%, while Nasdaq futures lost 0.3%. EUROSTOXX 50 futures lost 0.2% and FTSE futures 0.6% amid reports the UK government was planning tax rises and spending cuts. Oil futures lost some of their recent gains with Brent off $1.07 at $97.50, while U.S. crude dropped $1.26 to $91.35 per barrel.

☆ 11 Unique Gifts for the Mom Who Doesn’t Want Anything
▼ + stars: | 2022-11-05 | by ( ) www.wsj.com time to read: +6 min

The woman forever insisting she doesn’t need anything for the holidays, her birthday or Mother’s Day. For the mom who’s an open bookQuestions About Me Tell Me Your Life Story, Mom: A Mother’s Guided Journal and Memory Keepsake Book $10 at AmazonHere’s a way to give Mom what she really wants: a connection to you. With 200-plus thoughtful prompts and quick-hitting questions (What food do you like to have made for you when you’re sick? For the mom who’s tired of getting flowersThink of succulents as the gateway into plant parenthood. For the mom on the goThink of this elegantly shaped hat as an upgrade to her standard pony or top knot.

☆ 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.

☆ The Fed is expected to raise interest rates by three-quarters of a point and then signal it could slow the pace
▼ + stars: | 2022-11-01 | by ( Patti Domm | In | ) www.cnbc.com time to read: +5 min

The Federal Reserve is expected to raise interest rates by three-quarters of a percentage point Wednesday and then signal that it could reduce the size of its rate hikes starting as soon as December. Markets are primed for the fourth 75-basis point hike in a row, and investors are anticipating the Fed will slow down its pace before winding down the rate-hiking cycle in March. Gapen said he expects Fed Chair Jerome Powell to indicate during his press briefing that the Fed discussed slowing the pace of rate hikes but did not commit to it. He expects the Fed would then raise interest rates by a half percentage point in December. The stock market has already rallied on expectations of a slowdown in rate hikes by the Fed, after a final 75 basis point hike Wednesday afternoon.

☆ Oil prices drop as Chinese demand data disappoints
▼ + stars: | 2022-10-24 | by ( Noah Browning | ) www.reuters.com time to read: +2 min

LONDON, Oct 24 (Reuters) - Oil prices slid on Monday after Chinese data showed that demand from the world's largest crude importer remained lacklustre in September as strict COVID-19 policies and fuel export curbs depressed consumption. Brent crude futures for December settlement were down $1.17, or 1.3%, at $92.33 a barrel by 1217 GMT, after rising 2% last week. But bank Goldman Sachs said the stocks release was unlikely to have a large impact on prices. "Such a release is likely to have only a modest influence (<$5/bbl) on oil prices", the bank said in a note. U.S. energy firms added oil and natural gas rigs last week for the second week in a row as relatively high oil prices encourage firms to drill more, energy services firm Baker Hughes Co said in a report.

☆ Oil prices drop as China demand data disappoints
▼ + stars: | 2022-10-24 | by ( Noah Browning | ) www.reuters.com time to read: +2 min

LONDON, Oct 24 (Reuters) - Oil prices slid 2% on Monday after Chinese data showed that demand from the world's largest crude importer remained lacklustre in September as strict COVID-19 policies and fuel export curbs depressed consumption. Brent crude futures for December settlement fell $1.67, or 1.8%, to $91.83 a barrel by 0855 GMT after rising 2% last week. U.S. West Texas Intermediate crude for December delivery was at $83.27 a barrel, down $1.78, or 2.1%. Brent rose last week despite U.S. President Joe Biden announcing the sale of a remaining 15 million barrels of oil from the U.S. Strategic Petroleum Reserves. U.S. energy firms added oil and natural gas rigs last week for the second week in a row as relatively high oil prices encourage firms to drill more, energy services firm Baker Hughes Co said in a report.

☆ Oil prices drop more than 1% as China demand data disappoints
▼ + stars: | 2022-10-24 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

SINGAPORE, Oct 24 (Reuters) - Oil prices slid more than 1% on Monday after Chinese data showed that demand from the world's largest crude importer remained lacklustre in September as strict COVID-19 policies and fuel export curbs depressed consumption. Brent crude futures for December settlement slid $1, or 1.1%, to $92.50 a barrel by 0609 GMT after rising 2% last week. Although higher than in August, China's September crude imports of 9.79 million barrels per day were 2% below a year earlier, customs data showed on Monday, as independent refiners curbed throughput amid thin margins and lacklustre demand. "Biden's comments that the U.S. will only buy crude once prices hit USD70/bbl provides a strong support level," ANZ said. Last week, U.S. energy firms added oil and natural gas rigs for the second week in a row as relatively high oil prices encourage firms to drill more, energy services firm Baker Hughes Co said in a report on Friday.

☆ Oil prices slide as China demand data disappoints
▼ + stars: | 2022-10-24 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

SINGAPORE, Oct 24 (Reuters) - Oil prices fell on Monday after China released much-delayed trade data which showed that demand in the world's largest crude importer remained lacklustre in September as strict COVID-19 policy and fuel export curbs depress consumption. Brent crude futures for December settlement slid 40 cents, or 0.4%, to $93.10 a barrel by 0340 GMT after rising 2% last week. Despite rising from August, China's crude imports in September of 9.79 million barrels per day were 2% below the amount brought in a year earlier, customs data showed on Monday, as independent refiners curbed throughput amid thin margins and lacklustre demand. read more"Biden's comments that the U.S. will only buy crude once prices hit USD70/bbl provides a strong support level," ANZ said. Last week, U.S. energy firms added oil and natural gas rigs for the second week in a row as relatively high oil prices encourage firms to drill more, energy services firm Baker Hughes Co said in a report on Friday.

☆ Citigroup beats 3rd-quarter profit estimates but stock falls after fixed-income trading revenue disappoints
▼ + stars: | 2022-10-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Citigroup reported third-quarter earnings on Friday that beat revenue and profit estimates. But revenue derived from the bank's fixed income and trading arm fell short, hurting the stock price. The company generated $3.06 billion in revenue from its fixed income sales and trading division, which fell short of analyst estimates for $3.17 billion in revenue. Investment banking revenue of $631 million fell well short of analyst estimates for $1.07 billion. Also on Friday, JPMorgan beat its earnings estimates as the bank saw revenue derived from its fixed-income trading unit beat expectations.

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