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Before the Bell | Oh, Snap, there goes social's online-ad biz

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Moomoo Breakfast US wrote a column · May 24, 2022 19:28
Hey, mooers! Here are things you need to know before the opening bell:
Market Snapshot
Stock futures fell early Tuesday morning as the markets struggled to sustain a comeback rally following weeks of losses.
Futures on the $Dow Jones Industrial Average (.DJI.US)$ fell 0.63%, while $S&P 500 Index (.SPX.US)$ futures dropped 1.03% and $Nasdaq Composite Index (.IXIC.US)$ futures were down 1.59%.
Before the Bell | Oh, Snap, there goes social's online-ad biz
Top News
Stock Futures Drop in Volatile Trading
U.S. stock futures fell, with tech shares leading losses, putting the S&P 500 on track to flirt with bear market territory again.
Fed Officials Weigh Future Rate Policy Shift
Federal Reserve Bank of St. Louis President James Bullard considers possibility of rate cut next year.
There Is a Rush for Cash on Wall Street
One piece of evidence is the market's embrace of dividend-paying companies over firms that do buybacks.
Best Buy Revenue Tops Estimates and the Stock Jumps
$Best Buy (BBY.US)$ earned $1.57 a share on an adjusted basis in its fiscal first quarter, meeting analysts' estimates. Revenue of $10.65 billion topped forecasts. The stock was rising in premarket trading Tuesday.
Samsung to Invest About $356 Billion Over Next Five Years
Samsung Group will invest about $356 billion over the next five years in its semiconductor and biopharmaceuticals businesses, as well as other next-generation technologies, where global competition is intensifying.
Oh, Snap, There Goes Social's Online-Ad Biz
Investors knew that the world wasn't clicking for online advertisers right now. In a snap on Monday night, a profit warning from the parent company of social platform $Snap Inc (SNAP.US)$ hit $Meta Platforms (FB.US)$, $Pinterest (PINS.US)$, $Twitter (Delisted) (TWTR.US)$, $Alphabet-A (GOOGL.US)$ and even $Amazon (AMZN.US)$.
Snap Inc. said in a filing Monday afternoon that revenue and adjusted pretax earnings for the second quarter will come in below the range the company projected barely a month ago.
Zoom Sales Growth Slows as Pandemic Boom Wanes
The videoconferencing company said sales rose 12% in its first quarter, the slowest growth rate on record, but it raised the profit outlook for the year. $Zoom Communications (ZM.US)$
Zuckerberg Is Sued by D.C. Attorney General
The case marks the second time Washington, D.C.'s Karl Racine has pursued legal action against the Facebook founder over practices that led to the Cambridge Analytica data breach.
Read More
Key Events This Week
Before the Bell | Oh, Snap, there goes social's online-ad biz
Before the Bell | Oh, Snap, there goes social's online-ad biz
Source: CNBC, Dow Jones Newswires, Bloomberg, WSJ
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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