What we’re reading (4/28)
“Amazon Shares Plunge 10% After Company Issues Disappointing Revenue Forecast” (Yahoo!Finance). “Shares of Amazon (AMZ) dropped after the company revealed a revenue forecast that missed analyst estimates as consumers curb online spending in the face of economic uncertainty and a return to in-person activities. The company also reported a loss on its investment in electric-vehicle maker Rivian Automotive.”
“Teladoc Stock Plunges As The Stay-At-Home Economy Fizzles” (CNN Business). “The huge pandemic boom for virtual health company Teladoc appears to be over. More people are willing to leave home for doctor visits, and shares of Teladoc (TDOC) plunged more than 45% Thursday. The company warned of a weak sales outlook and higher costs in its earnings report after the closing bell Wednesday.”
“One Of Cathie Wood’s Top Stock Picks Just Plunged 40%” (Wall Street Journal). “Cathie Wood suffered another setback, this time courtesy of Teladoc Health Inc. The digital-health company at one point lost roughly half its market value on Thursday following its disappointing financial forecast. Teladoc’s stock finished down 40%, its worst day in its nearly seven-year history as a publicly traded company.”
“Fixed Income: Class 5 Rapids” (Comerica). “It is clear that inflation and volatility will be part of the fixed income environment for the next several years. Investors will need to continue to manage their fixed income exposure with this in mind, and structure portfolios that provide some degree of protection from inflation.”
“Musk Is Already Shaking Up Twitter” (DealBook). “Elon Musk doesn’t own Twitter yet, but he’s already making his presence felt there. Musk took aim at Twitter employees and others this week in a round of tweets that raised new concerns about the company’s future under his freewheeling approach to content moderation. (He also said — with tongue presumably in cheek — that he would buy Coca-Cola next, ‘to put the cocaine back in.’).”
