Internet/Online Services

A record number of U.S. renters spent more than 30% of their income on rent in 2021 and mortgage rates fall to lowest level since mid-September. Freddie Mac says 3 million more people now qualify for a home loan.

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Hi, MarketWatchers. Don’t miss these top stories. Death and deceit in Malibu: How yogi couple befriended and stole millions from vulnerable rich doctor Anton David and Anna Moore are accused of pretending to be caretakers for Dr. Mark Sawusch while really having an eye on his $60 million fortune. Read More ‘We are not visible, … Read more

Amazon stock falls as least profitable holiday quarter since 2014 leads to its worst annual loss on record

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Amazon.com Inc. reported its least profitable holiday quarter since 2014 on Thursday, leading to the biggest annual loss on record for the e-commerce giant, which also disappointed Wall Street with its forecast amid concerns about cloud growth. Amazon AMZN, +7.38% reported a holiday profit of $278 million, or 3 cents a share, down from $1.39 … Read more

Google suffered ‘pullback’ in ad spending over holidays, Alphabet stock falls after earnings

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Alphabet Inc.’s stock slipped nearly 5% in extended trading Thursday after the tech giant missed slightly on revenue and earnings in ho-hum quarterly results. Google’s parent company reported fiscal fourth-quarter total revenue of $76.05 billion, up from $75.3 billion a year ago. Earnings were $13.62 billion, or $1.05 per share, compared with $20.64 billion, or … Read more

PayPal, Salesforce cut hundreds more employees as tech layoffs continue

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Hundreds of PayPal Holdings Inc. employees have begun to be notified that their jobs are being cut on the same week that Chief Executive Dan Schulman announced thousands of layoffs. According to a PayPal PYPL, +4.88% filing with the state of California, the online-payments company is laying off 319 employees at its San Jose, Calif., … Read more

This trader nailed two big market calls in 2022. She says investors are ‘being paid to wait’ so should steer clear of stocks for 2023.

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Ahead of major tech earnings, Meta results are ready to light up the Nasdaq Composite COMP for Thursday. The S&P 500 SPX is also pointing to gains as investors take a glass-half full view of the Fed meeting. Worried that investors are in the clutches of another Fed misread is the founder of LaDucTrading.com, Samantha LaDuc. “The … Read more

Pinterest reportedly lays off about 150 workers

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Pinterest Inc. reportedly laid off about 150 workers Wednesday, becoming the latest tech company to cut jobs amid economic worries. Bloomberg News reported the cuts affect less than 5% of Pinterest’s workforce, and came across multiple teams. “We’re making organizational changes to further set us up to deliver against our company priorities and our long-term … Read more

Zuckerberg and Intel are shipping the proceeds from their layoffs straight to Wall Street

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For years, Wall Street groused about Silicon Valley’s refusal to pay dividends and buy back stock as tech companies grew into cash-generating machines. That is no longer a problem, even though those tech companies are generating fewer profits than they were in previous years. In fact, some tech companies are basically paying off Wall Street … Read more

Comcast sells nearly 6 million shares of its Buzzfeed stake amid sharp rally

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Comcast Corp. has sold part of its stake in Buzzfeed Inc., which has seen its shares surge in recent days amid enthusiasm for the publisher’s artificial-intelligence efforts. Comcast CMCSA, +1.58% disclosed Wednesday in a filing with the Securities and Exchange Commission that it sold 5,726,385 shares of Buzzfeed BZFD, -5.22% in the open market between … Read more

Biden’s plan to curb credit-card late fees could undercut Apple, Google app stores

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President Joe Biden’s push to curb credit-card late fees means consumers could expect lower prices charged by Apple Inc. and Alphabet Inc.’s Google on their mobile app stores, and more competition on digital platforms. As part of Biden’s plan to eliminate “junk fees” associated with consumer services for concert tickets, mobile plans and air travel, … Read more

As Fed raises rates by a quarter point, here’s where financial advisers are telling their clients to invest — and store — their money and colleges used pandemic-era relief funds to cancel nearly $1.5 billion in student debt

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Hi, MarketWatchers. Don’t miss these top stories. As Fed raises rates by a quarter point, here’s where financial advisers are telling their clients to invest — and store — their money The Fed’s 25-basis-point move is its eighth consecutive straight interest-rate hike. Read More Colleges used pandemic-era relief funds to cancel nearly $1.5 billion in … Read more