Shares of Meta Platforms, Google-owner Alphabet and other companies that sell digital ads dropped late on Thursday after Snapchat owner Snap Inc. blamed inflation for its slowest revenue growth since going public five years ago. Snap was the first major social media company to release its September-quarter earnings, and its stock tumbled 25 percent following…
Military Subsidizes Service Members’ Grocery Bills Amid Higher Prices
The U.S. Department of Defense is taking new measures to help U.S. service members deal with rising costs as inflation continues to put the pressure on Americans. Air Force Brigadier General Pat Ryder laid out a series of changes from Defense Secretary Lloyd Austin to help families deal with the recent rise in costs, particularly…
Snap Launches Tools for Parents to Monitor Teens’ Contacts
Snap Inc., owner of the popular messaging app Snapchat, rolled out its first parental control tools on Tuesday, which will allow parents to see who their teens are talking to, but not the substance of their conversations. The new feature called Family Center is launching at a time when social media companies have been criticized…
Shares of Snap Inc. Plummet 43 Percent on Adjusted Revenue, Earnings Expectations
Shares of Snap Inc., the parent company of instant messaging app Snapchat, plunged over 40 percent on May 24 after the company warned investors it would be unable to meet its own targets for revenue and adjusted earnings in the current quarter. Snap said in its first quarter earnings update, which it reported in April, that the company…
Here’s How Benchmark Views Twitter, Pinterest, Snap
Benchmark analyst Mark Zgutowicz initiated coverage of multiple social media stocks. Zgutowicz initiated coverage of Twitter Inc. with a Hold rating and no price target. He views Twitter as providing high utility to a niche user base. Still, he sees limited ability to scale beyond an otherwise event-driven branding platform and does not believe Twitter will ever achieve…
Snap Shares Surge After First-Ever Quarterly Profit
Snap Inc. saw its shares surge by nearly 60 percent after the company reported its first-ever quarterly profit, defying analysts’ predictions that the messaging platform would post another loss. The California-based company said in a Feb. 3 earnings report that its fourth-quarter profit was $22.6 million, or 1 cent per share. The report came as…
Chart Wars: Snap, Twitter Stocks Near Entry Signals to Go Long for 2022—Here’s What to Watch For
Snap Inc. and Twitter Inc. were sliding significantly on Tuesday in sympathy with a number of technology-based stocks, losing more than 7 percent and 5 percent, respectively, intraday while the SPDR S&P 500 fell about 0.33 percent. Both stocks have, mostly, been trading in a heavy downtrend recently with Snap plummeting over 48 percent since its Sept….
Senators Put YouTube, TikTok, Snap on Defensive on Kids’ Use
October 26, 2021
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WASHINGTON—Senators put executives from YouTube, TikTok, and Snapchat on the defensive Tuesday, questioning them about what they’re doing to ensure young users’ safety on their platforms. Citing the harm that can come to vulnerable young people from the sites—ranging from eating disorders to exposure to sexually explicit content and material promoting addictive drugs—the lawmakers also…
Senators Put YouTube, TikTok, Snap on Defensive on Children’s Use
October 26, 2021
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Business & EconomyCompaniescongressexecutivesMedia & Big TechPoliticsSenatorsSNAPSocial IssuesSocial MediaTechTech NewsTikTokUSUS NewsYouTube
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WASHINGTON—Senators put executives from YouTube, TikTok, and Snapchat on the defensive Tuesday, questioning them about what they’re doing to ensure young users’ safety on their platforms. Citing the harm that can come to vulnerable young people from the sites—ranging from eating disorders to exposure to sexually explicit content and material promoting addictive drugs—the lawmakers also…
Nasdaq, S&P 500 End Lower, Dragged Down by Communications Services
October 23, 2021
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The S&P 500 and Nasdaq closed lower on Friday as disappointing quarterly reports from Snap Inc. and Intel Corp. put pressure on the communications and technology sectors and investors turned skittish as Federal Reserve Chair Jerome Powell discussed stimulus tapering. The Dow managed to end the day with a record closing high for the first…
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