Month: July 2022

5 top after-hours movers on Yahoo Finance

Stocks rallied Wednesday afternoon, hitting the highs of the session after the Federal Reserve raised interest rates by 0.75% and Federal Reserve Chairman Jerome Powell signaled the central bank may slow the pace of its hiking cycle. The tech-heavy Nasdaq jumped 4% during the session, posting its best gain in more than two years.

Here are the top five trending tickers on Yahoo Finance:

Metas (META): The company reported second-quarter earnings after the bell Wednesday, missing Wall Street’s expectations on the top and bottom lines. Meta posted sales of $28.82 billion, its first ever year-over-year revenue decline. EPS of $2.46 was short of street’s expectations of $2.52. Facebook daily active users increased by 8 million to 1.97 billion, but Facebook monthly active users fell to 2.93 billion. Jefferies’ Brent Thill told Yahoo Finance that it is a ‘tough environment for ad-driven names’ and that it’s ‘impossible to forecast what Facebook is doing right now.’ The stock is down nearly 50% since the start of the year.

Qualcomm (QCOM): Qualcomm reported third-quarter earnings of adjusted EPS of $2.96 on revenue of $10.93 billion, beating the street’s expectations. Revenue guidance for the current quarter missed expectations, weighing on shares in after-hours trading. Moor Insights and Strategy Founder and CEO Patrick Moorhead told Yahoo Finance there was “a lot of good news in this release but the very important guidance piece is spooking investors, and that’s all about the consumer market.” Qualcomm also announced a 7-year extension of its patent licensing agreement with

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‘Massive need’: Inside a new venture to attract ad dollars to diverse-owned media companies

Joe Anthony sees Hero Media, a new media company he founded earlier this June, as one that’s akin to Condé Nast or Vice. With a growing portfolio of brands, they’re not there yet, of course, but one day.

“We saw a massive need to help diverse-owned media companies get exposed to dollars that they historically didn’t have access to,” said Anthony of the venture. “Hero Media’s mission is bringing greater to parity in the investment in diverse-owned media platforms and for diverse creators.”

Anthony’s game has so far been acquiring companies that are independent and owned by non-white executives, including the non-profit striving to make changes in their community.MADE BKLYNThe film studio that makes independent and commercial films good lookthe luxury lifestyle and influential magazine Uptown Magazineand the content and communications hub MyCoop. Aside from creating content, it will also provide the mechanics for advertisers to establish advertising on these channels and develop an online presence.

Multicultural-owned media companies, like multicultural ad agenciesboth suffer from a significant lack of investment. While that’s something brands have publicly stated they are working to commit more ad dollars to with pledges made over the last two years to do more and do better it’s still a problem that needs long-term commitment. This is also despite multiple agencies, such as GroupM and Havascreating programs in the last two years to attract ad dollars to non-white-owned media companies.

The plan is for Hero Media to help better

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