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Pandemic stars like Netflix and Peloton sink from grace
... tied to the vagaries of the pandemic. They are facing a slowing of profit growth and pressure on valuations. The Nasdaq 100 Stock Index fell 9% this month, which is on pace to be the worst since 2008. When technology giants like Microsoft Corp. and Apple Inc. deliver their quarterly results next week, Netflix 's numbers will get more context. These results cast a shadow on the rest of tech, said Gene Munster, co-founder of Loup Ventures. The tech market will be on edge until Apple reports and we hear ...
Updated: 01/21/2022
Nasdaq ends down 10.7% from record high as traders fret over inflation
... last correction of the Nasdaq was in early 2021 when the tech-heavy index fell more than 10% from Feb. 12 to March 8. It was the fourth time in the two years since the coronaviruses shook global markets that the index had found itself in a correction. Apple AAPL.O shares fell by 2.1%, weighing the most on the Nasdaq , while declines in Tesla TSLA.O and Amazon also dragged on the index. In 2022, stocks have gotten off to a rocky start due to a fast rise in Treasury yields amid concerns that the Fed ...
Updated: 01/21/2022
Google reports 27% higher lobbying spending in 2021
... 2020. In the fourth quarter of 2021, Google spent $2.2 million on lobbying. Google 's lobbying spend dipped in 2020 as it restructured its government relations teams. The biggest technology companies, including Amazon.com Inc., Facebook FB.O and Apple Inc. AAPL.O, have been under pressure from Congress over allegations that they abused their market power. A long list of bills have been introduced aimed at reining them in, but none have become law. One of the bills, which would stop platforms from giving ...
Updated: 01/21/2022
Peloton, the fitness fitness trainer, is in the grip of the pandemic
... alone in suffering. On Thursday, Nautilus Inc. fell 8.3% as investors fretted about a broader slump. Peloton slashed its sales forecast in November, sending the stock on its worst rout ever. It has been facing increased competition from companies like Apple Inc. , which has a fitness digital workout service that has been gaining traction. The outlook doesn't look brighter now, months after the forecast reduction. Peloton said in a presentation from Jan. 10 that its fitness equipment faced a significant reduction ...
Updated: 01/21/2022
Netflix shares plunge after hours after it said streaming growth slowed
... argued that it was holding its own against fierce streaming competition from the likes of HBO Max and Disney and that it may be affecting our marginal growth. Analysts from Parrot Analytics think Netflix is a big player in the business. They said Apple TV Disney and HBO Max account for almost all of Netflix 's losses in global demand for original content over the last two years. The world's leading streamer faces more intense competition than ever in 2022, they added. The markets are jittery ...
Updated: 01/21/2022
India talks deadlocked over tax benefits for Tesla
... dealership in London , Britain, on May 14, 2021. REUTERS Matthew Child NEW DELHI, Jan 20 Reuters - Talks between India and Tesla Inc TSLA.O over potential tax benefits are deadlocked as the government is not keen to give the company any breaks without a commitment ... ... government has taken a hardline approach towards foreign companies in the past, as it focuses on boosting local production. In 2017 Apple sought tax concessions, including lower import duties, to make iPhones locally, but many of its demands were rejected by ...
Updated: 01/21/2022
Google reports 27% higher lobbying spending in 2021
... fourth quarter of 2021, Google spent $2.2 million on lobbying. In 2020, Google 's lobbying spend dipped as it restructured its government relations teams. The biggest technology companies, including Amazon.com Inc, Meta Platforms Inc.'s Facebook and Apple Inc. , have been under pressure from Congress over claims that they abused their market power. A long list of bills have been introduced aimed at reining them in, but none have become law. A bill that would stop the platforms from giving preference to ...
Updated: 01/20/2022
Netflix has forecast for Q 1 22 as it struggles to keep up with streaming activity
... the macroeconomic hardship in several parts of the world. After hiking prices in October 2020 for the U.S. and Canada, Netflix confirmed last week it is doing so again for that region, pushing the price of its basic plan higher than the cost of AT&T Inc.'s T, HBO Max streaming service. In the holiday quarter, Netflix said its sales grew to $7.71 billion, up from $6.6 billion a year ago. The cost of expensive content, such as The newest season of The Witcher, was predicted to decline as a wave of ...
Updated: 01/20/2022
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