tech stocks

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Meta Results Beat Analysts' Expectations

Company reports strong results as advertising rebounds

(Newser) - Facebook parent company Meta Platforms posted stronger-than-expected results for the second quarter on Wednesday, buoyed by a rebound in online advertising after a post-pandemic slump. The Menlo Park, California-based company earned $7.79 billion, or $2.98 per share, in the April-June period, the AP reports. That's up 16%...

Tech Giants Drop After Reporting Weak Earnings
Tech Giants Drop After
Reporting Weak Earnings
MARKETS
Oct 26, 2022 3:58 PM CDT

Tech Giants Drop After Reporting Weak Earnings

Google's parent company slumped 9.1%

(Newser) - Stock ended mixed on Wall Street on Wednesday as investors weighed the latest batch of earnings reports, including weak results from several heavyweight technology companies. The S&P 500 fell 28.51 points, or 0.7%, to 3,830.60. The Dow Jones Industrial Average ended just barely in the...

Meta Plunge Knocks Zuckerberg Out of Top 10 Billionaires

Bezos is set to get $20B richer

(Newser) - Share price swings have brought the fortunes of two tech billionaires up—and down—by amounts equivalent to the GDPs of small countries. Shares in Meta, Facebook's parent company, plummeted 26% on Thursday, bringing Mark Zuckerberg's net worth down by around $29 billion to $85 billion, reports Reuters...

S&P 500 Just Had Its Biggest Drop Since May
S&P 500 Just Had Its
Biggest Drop Since May
MARKETS
Sep 28, 2021 3:57 PM CDT

S&P 500 Just Had Its Biggest Drop Since May

Nasdaq drops 2.8% amid tech sell-off

(Newser) - Technology companies led a broad slide in stocks on Wall Street Tuesday as investors reacted to a surge in US government bond yields. The benchmark S&P 500 index had its worst drop since May, and the tech-heavy Nasdaq had its worst drop since March. The main action was again...

Tech Sell-Off Drags Nasdaq Down 2.5%
Big Drops for Tech Stocks
Drag Markets Down
MARKETS
May 10, 2021 3:36 PM CDT

Big Drops for Tech Stocks Drag Markets Down

Musk's 'SNL' appearance didn't help Tesla stock

(Newser) - Drops in several Big Tech companies led the stock market lower Monday, pulling major indexes below the record highs they set last week. The S&P 500 lost 1% after spending the first half of the day wobbling between small gains and losses. The tech-heavy Nasdaq gave back 2.5%...

Tech Stocks Drag Broader Market Down
Tech Stocks Drop
for 6th Day in a Row
MARKETS
May 4, 2021 3:59 PM CDT

Tech Stocks Drop for 6th Day in a Row

Apple, Amazon saw some of the biggest falls

(Newser) - Stocks closed lower on Wall Street Tuesday, dragged down by big technology companies like Apple and Microsoft. The declines marked the sixth straight losing day for technology stocks, the AP reports. Investors continue to focus on corporate earnings and gauge the economic recovery’s progress. Earnings and most economic indicators...

Tech Stocks Take a Beating on Wall Street
GameStop Just Lost
a Third of Its Value
MARKETS
Mar 24, 2021 3:53 PM CDT

GameStop Just Lost a Third of Its Value

Tech stocks took a beating Wednesday

(Newser) - Stocks gave up an early gain and wound up broadly lower on Wall Street, led by declines in tech heavyweights like Facebook and Apple. The S&P 500 gave up 0.5% Wednesday, its second loss in a row, while the tech-heavy Nasdaq dropped 2%. Bond yields mostly fell after...

Nasdaq Roars Back After Bond Yields Dip
Nasdaq Roars Back
After Bond Yields Dip
MARKETS
Mar 9, 2021 3:49 PM CST

Nasdaq Roars Back After Bond Yields Dip

Tech-heavy index had best day in almost a year

(Newser) - Gains for major tech companies powered a 3.7% surge in the Nasdaq Tuesday, the largest jump for the index in almost a year. The latest swing came a day after the tech-driven index sank more than 10% below its February peak. Markets have been adjusting to a rapid increase...

Slumping Tech Stocks Drag S&P 500 Down
Slumping Tech Stocks
Drag S&P 500 Down
MARKETS
Mar 8, 2021 3:51 PM CST

Slumping Tech Stocks Drag S&P 500 Down

Investors are betting stimulus will work

(Newser) - Wall Street ended mixed as slumps in several Big Tech companies offset gains in many other parts of the market. Because of their huge size, the drops in Apple, Google’s parent company, and other major technology stocks pulled the S&P 500 to a loss of 0.5% Monday...

Tesla Drops 8.5% on Bad Day for Big Tech
Big Tech Just Had
a Bad Day on Wall St.
MARKETS
Feb 22, 2021 3:50 PM CST

Big Tech Just Had a Bad Day on Wall St.

American Airlines was among the big winners

(Newser) - Stocks closed mostly lower on Wall Street Monday, dragged down by losses in several Big Tech companies. The pullback helped drag down the Nasdaq and the S&P 500, while the Dow, which isn't as heavily weighted with tech stocks, rose, the AP reports. The S&P 500 fell...

Apple Hits Huge Milestone, Investors Are Unimpressed

Company reports $111B earnings in Q1

(Newser) - Wednesday was a tough day for tech stocks and things didn't improve for Apple in after-hours trading—despite the fact that it had just reported record-breaking results. The company reported a record $111.4 billion in revenue for its fiscal first quarter, well ahead of expectations and up 21%...

Wall St. Rally Loses Steam
Wall St. Rally Loses Steam
MARKETS
Nov 11, 2020 3:29 PM CST

Wall St. Rally Loses Steam

But tech stocks clawed back some losses

(Newser) - An early rally on Wall Street lost steam by the closing bell Wednesday, leaving major indexes mixed. The S&P 500 rose 0.8%, thanks largely to gains in big technology companies. The Nasdaq rose 2% to 11,786.43, and the Dow Jones industrials edged down 0.1%, or...

Investor Makes $12B on Biggest Software IPO Ever
Investor Makes $12B on
Biggest Software IPO Ever
the rundown
Sep 17, 2020 10:40 AM CDT

Investor Makes $12B on Biggest Software IPO Ever

Snowflake has a massive debut

(Newser) - If you're hearing the word "snowflake" a lot today, it has nothing to do with politics. Snowflake the tech company is coming off the largest software IPO in history on Wednesday, reports CNN . The company priced its shares for the initial public offering at $120, but they opened...

Tech Stocks Pull Markets Higher
Tech Stocks Are
Climbing Again
MARKETS
Sep 15, 2020 3:56 PM CDT

Tech Stocks Are Climbing Again

They helped pull markets higher Tuesday

(Newser) - Stocks overcame a late-afternoon burst of selling and closed higher Tuesday, as gains in big technology companies outweighed losses in banks and elsewhere in the market. The S&P 500 rose 0.5% after being up 1.1% earlier. It's the second straight sizable gains for the benchmark index...

Dow Up 439 Points s as Tech Stocks Bounce Back
Dow Jumps 439 Points
as Tech Stocks Rebound
MARKETS
Sep 9, 2020 3:50 PM CDT

Dow Jumps 439 Points as Tech Stocks Rebound

'We were due for a bounce'

(Newser) - Wall Street snapped back Wednesday from its recent tumble, as the bloodletting for big technology stocks came to at least a temporary halt. Apple, Amazon, Zoom Video Communications, and other tech companies that suddenly lost their momentum late last week on worries their stocks soared too high all regained some...

Dow Drops 632 Points as Tech Stocks Slump
Dow Drops 632 Points
as Tech Stocks Slump
MARKETS
Sep 8, 2020 3:39 PM CDT

Dow Drops 632 Points as Tech Stocks Slump

Nasdaq is down 10% over 3 trading days

(Newser) - Big technology stocks tumbled again on Tuesday, continuing the Icarus-like flight path for companies that just a week ago were the high-flyers carrying Wall Street to record heights. The S&P 500 fell 95.12, or 2.8%, to 3,331.84 and clinched its first three-day losing streak in...

'Exhaustion' Finally Catches Up to Markets

Apple and other tech stocks lead the plunge

(Newser) - On Wednesday, the stock market had a very good day as the Dow climbed back over 29,000. Thursday is telling a much different story. The numbers around midday were bleak: The Dow was down 531 points, or nearly 2%, to 28,554; the S&P 500 was down 92...

Apple Shares Dive After CEO's Bad News

'This is Apple's darkest day during the Cook era'

(Newser) - Apple shares are in store for a bruising after CEO Tim Cook's warning to shareholders on Wednesday. The share price dived 8% in after-hours trading and is now down by a third from its October peak. The price is expected to plunge further on Thursday, bringing other tech stocks...

Facebook: Zuckerberg Won't Sell Shares for a Year

Firm moves to protect share price as it hits new low

(Newser) - Mark Zuckerberg is a much poorer billionaire than he was a few months ago, but he won't be joining the early investors selling off their Facebook shares. Those shares hit a new low of $17.73 yesterday, and the company took steps to assure investors that the slide will...

Key Groupon Investors Ditch the Troubled Stock

Critics say big pre-IPO investments overvalued the company

(Newser) - With Groupon having lost three-quarters of its IPO value, several of its key early investors, including web icon Marc Andreessen, have left the building, reports the Wall Street Journal . Andreessen's firm, Andreessen Horowitz, invested $40 million of the $950 million pumped into Groupon in the months before it went...

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