WASHINGTON (Reuters) -A U.S. appeals court on Thursday refused to revive a lawsuit filed by states against Meta’s Facebook that alleged the company had broken antitrust law. Dozens of states led by New York asked the U.S. Court of Appeals for the District of Columbia last year to reinstate the lawsuit, which U.S. District Judge…
By Ismail Shakil OTTAWA (Reuters) – Canada’s Senate on Thursday passed the government’s online streaming legislation after a 10-month debate over a law that will force firms like Netflix and Alphabet Inc-owned YouTube to offer more Canadian content. Bill C-11, or the Online Streaming Act, cleared the unelected upper chamber of the Canadian parliament with…
By Sinéad Carew, Sruthi Shankar and Ankika Biswas (Reuters) – The tech-heavy Nasdaq led a Wall Street rally on Thursday as a strong quarterly report from Facebook parent Meta Platforms Inc overshadowed concerns over slowing U.S. economic growth. Shares in Meta closed up 13.9% after touching their highest level in more than a year after…
By Sheila Dang (Reuters) -Snap Inc on Thursday missed analyst expectations for quarterly revenue as changes to its advertising platform hurt demand for ads, and warned results in the next quarter could fall below Wall Street’s targets. Shares of Snap tumbled 19% in after-market trading. The Santa Monica, California-based company, which owns photo messaging app…
By Vansh Agarwal (Reuters) -Pinterest Inc forecast second-quarter revenue growth below Wall Street estimates on Thursday, as the image-sharing platform grapples with a pullback in advertising spending, sending its shares down 13% in trading after the bell. While Pinterest said that the ad market was stabilizing, it warned the market was still uncertain. Shares of…
By Sheila Dang (Reuters) -Advertisers are sticking with safe havens Alphabet and Meta Platforms in an uncertain economy, their quarterly results showed, likely helping the tech giants take market share away from smaller digital ad sellers such as Snap Inc. Following a pandemic-led spending bonanza by advertisers who wanted to reach customers online, ad sales-reliant…
(Reuters) -Wireless carrier T-Mobile US Inc missed Wall Street estimates for first-quarter revenue and wireless subscriber additions on Thursday, weighed down by intense competition and consumers postponing upgrades to their plans. High inflation and macro economic challenges have forced consumers to cut back spending even as rivals undercut each other with cheaper and bundled offerings,…
(Reuters) – The FBI carried out a search on Thursday morning at the Potomac, Md., home of former FTX executive Ryan Salame, the New York Times reported, citing two people with knowledge of the matter said. The FBI, Salame and his attorney did not immediately respond to Reuters requests for comment. Days before FTX filed…
By Chris Prentice and Hannah Lang NEW YORK/WASHINGTON (Reuters) -Coinbase Global has reiterated its view to the U.S. Securities and Exchange Commission that it has not broken any securities laws in its formal response to a legal threat received from the regulator, the firm said on Thursday. Coinbase CEO Brian Armstrong and Chief Legal Officer…
By Lewis Krauskopf NEW YORK (Reuters) – Some market participants are warning that the U.S. market’s biggest tech and growth stocks may be getting too expensive, even as better-than-expected earnings reports stand to further boost their appeal. The Nasdaq 100 has rallied 19% this year, while four stocks that alone have a 40% weight in…
