Shares of Instantaneous (INSTANTANEOUS) plunged more than 40% on Tuesday and hit their lowest level since March 2020, just after the Covid-19 pandemic hit the United States. The company said in a regulatory filing that its bleak outlook was due to “the macroeconomic environment deteriorating further and faster than expected.” News of Snap’s woes sent … Read more
Since late April, “the macroeconomic environment has deteriorated further and faster than expected. As a result, we believe it is likely that we will report revenue and Adjusted EBITDA below the bottom of our guidance range for the second quarter of 2022,” the company said in a statement. Filing of securities in the United States. … Read more
All three stocks have surged dramatically in 2021, thanks in large part to the success of their Covid-19 vaccines and strong sales. But 2022 hasn’t been so kind to them. Shares of Pfizer (DFP) are down around 15%, while its vaccine partner Comirnaty BioNTech (BNTX) fell 35%. Modern (mrna) did even worse, diving more than … Read more
U.S. stock index futures gained late on Sunday after Wall Street tumbled last week to its longest losing streak since 1932. Futures contracts Dow Jones Industrial Average YM00, +0.50% have recently risen around 170 points, or 0.5%, while S&P 500 ES00 futures, +0.58% and Nasdaq-100 NQ00 futures, +0.52% posted gains closer to 1%. CL.1 crude … Read more
Members of the Federal Reserve, the central bank responsible for pushing inflation from 8.3% to its target of around 2%, are now raising interest rates in an attempt to cool the economy. That’s okay: the medicine doesn’t have to go down easy if it works fast and well. But inflation rates have risen sharply since … Read more
Investing typically uses a combination of head, heart, and gut, even though it’s not supposed to. And perhaps no market theme evokes “all the emotions” like ESG. This week, a major decision to remove Tesla from a closely tracked environmental, social and governance (ESG) index drew anger and relief in almost equal measure. Defiance was … Read more