Wall Street – Page 2

Volkswagen, Pfizer And Now, General Mills Taps On the Brakes as Advertiser Pause Widens

4Nov

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Technology

Volkswagen, Pfizer And Now, General Mills Taps On the Brakes as Advertiser Pause Widens

[ad_1] Volkswagen AG, Europe’s largest carmaker, joined Pfizer Inc. and General Mills Inc. in temporarily pausing advertising on Twitter. Volkswagen AG, Europe's largest carmaker, joined Pfizer Inc. and General Mills Inc. in temporarily pausing advertising on Twitter as brands rethink their presence on the platform now that Elon Musk has taken over and is making his mark on the social media company. Volkswagen said Friday that it had advised all of its brands to pause spending on the platform “until further notice” while it monitors how Twitter evolves. Brands are concerned that Twitter could host more-objectionable content as Musk rethinks his approach to content moderation, the Wall Street Journal reported, citing people familiar with the matter it didn't name. Others are stepp...

Wall Street sees little respite to Qualcomm’s smartphone gloom

[ad_1] At least 14 brokerages lowered their price targets on the largest maker of smartphone chips on Thursday. Sales at Qualcomm Inc are slowing as the smartphone market heads for its worst contraction in years, and Wall Street analysts don't expect that to turn around anytime soon.At least 14 brokerages lowered their price targets on the largest maker of smartphone chips on Thursday after it gave a forecast $2 billion below market estimates and said it had extra inventory that could take half a year to clear. Shares, which have already lost more than a third of their value so far in 2022, were down nearly 8% before the bell. "We believe a weak market, and even a potential inventory correction was likely not entirely unexpected, though the magnitude is probably worse than what some m...

Amazon Shares Plunge on Forecast for Sluggish Holiday Sales

[ad_1] Amazon.com Inc., shocking Wall Street, projected the slowest holiday-quarter growth in the company’s history. The shares plunged about 14% in premarket trading. Amazon.com Inc., shocking Wall Street, projected the slowest holiday-quarter growth in the company's history. The shares plunged about 14% in premarket trading.The Seattle-based company, which reaped record profits during the pandemic, said sales during the current period will rise just 2% to 8% as shoppers reduce their spending in the face of economic uncertainty. Either figure would be the slowest increase ever for Amazon's “Peak” season, which usually finds warehouse employees rushing to get orders out on time. And the e-commerce giant's other businesses aren't riding to the rescue. Amazon Web Services, the cloud-com...