Meta To Pull All Political Ads In The EU
Meta has decided to stop serving political, electoral, and social advertising on its platforms in the EU, rather than be subject to upcoming regulation.
In October, the Transparency and Targeting of Political Advertising regulation will come into effect, aimed at countering foreign interference in elections.
It doesn't affect the content of political advertisements or, for example, the conduct of political campaigns, which fall under the jurisdiction of each individual member state.
But it does cover the transparency and targeting of political advertising around elections, referendums, EU or member state legislation. Political ads must carry a transparency notice, and targeted ads will be allowed only if the individual has given specific consent.
And, to prevent foreign interference, advertising services to third country sponsors will be banned completely for three months before an election or referendum.
Meta claims that it already has strong measures in place - beyond what the law requires - to make sure that the political ads served on its platforms are genuine, and to share information about them transparently.
And the new rules, it said, are too burdensome.
"Unfortunately, the TTPA introduces significant, additional obligations to our processes and systems that create an untenable level of complexity and legal uncertainty for advertisers and platforms operating in the EU," it said in a statement.
"For example, the TTPA places extensive restrictions on ad targeting and delivery which would restrict how political and social issue advertisers can reach their audiences and lead to people seeing less relevant ads on our platforms."
And, as a result, when the legislation comes into force, the company plans to stop serving political, electoral and social issue ads on its platforms - which include Facebook and Instagram - in the EU altogether .
"Our decision is specific to the EU. Elsewhere, we will continue to provide our industry-leading tools that ensure authentic and transparent political advertising," said the firm.
"It also won't prevent people in the EU from continuing to debate politics on our services, or stop politicians, candidates and political office holders from producing and sharing political content organically. They just won't be able to amplify this through paid advertising."
Late last year, Google made a similar decision, saying that the TTPA introduces significant new operational challenges and legal uncertainties for political advertisers and platforms.
"For example, the TTPA defines political advertising so broadly that it could cover ads related to an extremely wide range of issues that would be difficult to reliably identify at scale," it said in a statement.
"There is also a lack of reliable local election data permitting consistent and accurate identification of all ads related to any local, regional or national election across any of 27 EU Member States."
It, too, plans to stop serving political advertising when the TTPA enters into force in October, while paid political promotions that qualify as political ads under the TTPA won't be permitted on YouTube in the EU.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
22 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq rise as Fed holds rates steady, Big Tech results loom
US stocks held steady on Wednesday as the Federal Reserve held interest rates steady at its July meeting. A flood of earnings highlighted by Microsoft (MSFT) and Meta (META) were also set to greet investors later in the afternoon. The Dow Jones Industrial Average (^DJI) nudged up 0.1%, while the S&P 500 (^GSPC) rose 0.2%. The tech-heavy Nasdaq Composite (^IXIC) ticked up 0.4%. The major gauges fell on Tuesday, leading the S&P 500 to snap its six-day record streak. The Fed kept rates unchanged on Wednesday, though it was not a unanimous decision. Fed Governors Christopher Waller and Michelle Bowman voted against the decision, preferring the Fed cut interest rates by a quarter of a percentage point. Focus is on Chair Jerome Powell's remarks for signals on potential easing later this year, as President Trump presses for a rate cut. The Fed — and markets — received key signals on the US economy's health early Wednesday. US GDP grew at a 3% annual rate in the second quarter, rebounding from its first pullback in three years in Q1. Meanwhile, US private employers added more jobs than expected in July, with private payrolls also returning to growth after a surprise pullback in June. The rosier economic data prompted Trump to again call on the Fed to lower rates. "'Too Late' must now lower the rate," he wrote on social media hours before the central bank was set to release its policy statement. Investors also fielded a further flood of earnings from major companies, with Humana (HUM), and Kraft Heinz (KHC) getting a positive reception before the bell. Read more: Full earnings coverage in our live blog Wall Street is looking to after-hours reports from Microsoft and Meta to help rejuvenate markets. Both tech giants are contending with growing scrutiny over whether their eye-popping AI investments are paying off. Looming ahead is Trump's Friday deadline for trade partners to strike deals with the US or face blanket tariff rates. Trump said goods from India would face a 25% tariff from Friday, as talks apparently stall between the countries. Read more: The latest on Trump's tariffs US-China trade talks wrapped up on Tuesday without an extension of the current tariff pause between the two, but Treasury Secretary Scott Bessent said Trump would make a "final call" on the matter soon. Powell: 'We have made no decisions about September' Markets are pricing in a 63% chance the Federal Reserve cuts interest rates at its next meeting in September. President Trump insinuated a similar expectation earlier this afternoon, saying that the Fed "probably won't" cut rates until September. But when asked directly about cutting rates in September Powell didn't guarantee anything. "We have made no decisions about September," Powell said. "We don't we don't do that in advance." Powell noted that there will be two rounds of inflation and labor market reports ahead of the next meeting that will help guide that decision. One chart helps explain the case for cutting interest rates The Fed held interest rates steady on Wednesday but the decision wasn't unanimous. Fed Govenors Christopher Waller and Michelle Bowman dissented. In a speech on July 17 titled the "case for cutting now," Waller pointed out that the tariff inflation boost will be "temporary." "Standard central banking practice is to "look through" such price-level effects as long as inflation expectations are anchored, which they are." Goldman Sachs Chief US economist David Mericle provided a chart in the Yahoo Finance Chartbook that visualizes this point. Mericle and the team at Goldman Sachs expect core PCE inflation to peak at 3.3% around June 2026 before collapsing to 2.7% by the end of the year and continuing its path lower. To Mericle, whose team holds a call for the Fed to cut rates by a quarter percentage point at its final three meetings of the year, the key part of this chart is that inflation eventually returns its trend downward once the tariff pass through is finished. "We agree with Governor Waller that tariffs will have only a one-time effect on the price level and are unlikely to dislodge inflation expectations and ignite a prolonged period of high inflation," Mericle wrote in a research note on July 27. But, Mericle added, the one-time tariff boost sending inflation back above 3% "could leave some Fed officials hesitant to cut." Fed leaves interest rates unchanged as Bowman and Waller dissent In a widely anticipated move, the Federal Reserve held interest rates steady in a range of 4.25% to 4.5%. The decision was not unanimous with Fed Governors Christopher Waller and Michelle Bowman voting against the decision. Those officials preferred the Fed to lower the federal funds rate by a quarter of a percentage point. Stocks steady into Fed decision Stocks are modestly higher on Wednesday as investors await the Federal Reserve's next interest rate decision and a subsequent press conference from Fed Chair Jerome Powell. The Dow Jones Industrial Average (^DJI) nudged up 0.1%, while the S&P 500 (^GSPC) rose 0.2%. The tech-heavy Nasdaq Composite (^IXIC) ticked up 0.5%. Meanwhile, the 10-year Treasury yield was up about 3 basis points to hover near 4.36%. The 'economic mirage' in the Q2 GDP rebound US economic growth rebounded in the second quarter after contracting for the first time in three years to start 2025. The headline number, a 3% annualized pace of growth, was well above the 2.6% increase economists had expected, a sharp mover higher from the 0.5% contraction seen in the first quarter. But the BEA noted that the second quarter bounce-back reflected a decrease in imports, which are a subtraction in the calculation of GDP. EY chief economist Gregory Daco noted that the quarterly swings in imports created an "economic mirage" that masked some underlying cooling in the economy. Daco argues that when "stripping out the noise" and looking at a metric like growth in sales to private domestic purchasers, the data points to a slowing in economic activity. Sales to private domestic purchasers rose 1.2% in the second quarter, lower than the 1.9% growth seen in the first quarter and the slowest pace of growth since 2022. "Policy uncertainty, resurgent inflation pressures stemming from tariffs, and tighter immigration constraints are beginning to weigh more visibly on activity," Daco said. Read more here. Wall Street bullish on Reddit ahead of Q2 earnings Reddit (RDDT) stock rose more than 2% Wednesday as Wall Street analysts largely maintained their bullish takes on shares ahead of the company's second quarter earnings. Analysts at Needham, Deutsche Bank, Jefferies, and Raymond James reiterated their Buy ratings on the stock in notes to clients heading into the social media platform's quarterly results Thursday after the bell. "The bear case (that Google Search will no longer send traffic to RDDT) is not playing out," wrote Needham analyst Laura Martin. Concerns over the impact of changes to Google Search's algorithm on Reddit's daily active users drove the stock down in the aftermath of its past two quarterly reports. Jefferies analyst John Colantuoni said web traffic data showed daily active user growth stabilizing in the past three months after decelerating throughout the first quarter. Needham's Martin added: "AI-driven ad tools, such as Reddit Insights & Conversation Summaries, suggest RDDT is already monetizing GenAI." Mortgage rates near 7% Home contract signings slumped more than expected in June, the latest sign that the housing market is still essentially frozen, Yahoo Finance's Claire Boston reports. Boston writes: Read the full story here. Hershey stock climbs after Q2 earnings beat as investors look past tariff, cocoa shortage impacts Hershey (HSY) shares rose Wednesday morning after the candy and snack maker reported second quarter earnings and revenue ahead of Wall Street's expectations. Its earnings per share of $1.21 were above the $1.01 projected, while revenue of $2.6 billion was above the $2.5 billion estimate, according to Bloomberg consensus data. Revenue was boosted by a later Easter in 2025. The stock's climb comes despite the company revising its full-year outlook. It now sees earnings per share falling 50% in 2025 versus the prior 40% decline expected. That drop comes as Hershey faces record-high cocoa prices (CC=F) due to a global shortage and anticipates as much as a $180 million hit during the fiscal year from tariffs. The company recently raised candy prices due to elevated cocoa costs. Trump says Powell must lower interest rates 'now' following GDP uptick President Trump used a return to GDP growth ahead of a widely expected Federal Reserve decision to keep monetary policy unchanged to say that Fed Chairman Jerome Powell must 'now' lower rates, Yahoo Finance's Ben Werschkul reports. Werschkul writes: Read the full story here. Marvell Technology soars 10% as Morgan Stanley analyst lifts price outlook Marvell Technology (MRVL) shares spiked Wednesday after Morgan Stanley (MS) analyst Joseph Moore lifted his price target on the stock to $80 from $73. In a note to clients on Tuesday, Moore cited the chipmaker's opportunity in the AI networking space. Networking products such as data center switches, ethernet controllers, and digital signal processors are required in data centers to receive and send data between AI chips and servers. Marvell makes both networking products and custom AI chips (also known as processors) called ASIC accelerators. "For both Broadcom (AVGO) and Marvell (MRVL), we expect AI upside this year to come from the networking side rather than processors [custom AI chips]," Moore wrote. Moore said Marvell "should be a direct beneficiary of NVIDIA's upcoming product cycle." That's because networking technology is needed to support upcoming purchases of Nvidia's latest Blackwell chips and servers. "Marvell is firmly in the AI winners camp," wrote Moore. Nvidia leads muted Mag 7 ahead of Microsoft, Meta earnings Nvidia (NVDA) shares moved up 1% early on Wednesday, leading the group of "Magnificent Seven" tech stocks ahead of earnings reports from Microsoft (MSFT) and Meta (META) after the bell. Amazon (AMZN), Tesla (TSLA), and Microsoft stock prices wavered around the flat line, while Meta and Google (GOOG) shares rose less than 1%. Apple (AAPL) slipped around 0.1% in lackluster trade for US stocks more broadly. Nvidia is up roughly 4% over the past five trading sessions, compared with the tech heavy Nasdaq Composite's (^IXIC) 0.6% gain over the same period. Stocks steady at the open US stocks held steady at the start of Wednesday's trading session ahead of the Federal Reserve's interest-rate decision and earnings from Big Tech names Microsoft (MSFT) and Meta (META). The Dow Jones Industrial Average (^DJI) wavered along the flat line, while the S&P 500 (^GSPC) nudged nearly 0.1% higher. The tech-heavy Nasdaq Composite (^IXIC) ticked up roughly 0.2%. The indices had fallen on Tuesday, with the S&P 500 ending its six-day record streak. Jobs data, GDP both top forecasts in a strong morning for the US economy Data from ADP on private payroll growth and the first look at second quarter GDP growth out Wednesday morning both topped forecasts, a sign of continued resilience in the US economy. Private payroll growth in July tallied 104,000 according to the latest data from ADP, more than the 77,000 jobs that private employers were expected to add and a rebound from the 23,000 jobs that were cut in the sector last month. "Our hiring and pay data are broadly indicative of a healthy economy," said Nela Richardson, chief economist at ADP. "Employers have grown more optimistic that consumers, the backbone of the economy, will remain resilient." Fifteen minutes after ADP's data was released, the BEA put out its first look at GDP growth in the second quarter, which showed the US economy grew at an annualized rate of 3% in the second quarter, faster than the 2.6% that had been expected by economists. In the first three months of the year, the US economy contracted at a rate of 0.5%. The BEA noted in its release the rebound in the second quarter was largely a result of decreased imports, which had weighed on growth in the first quarter as businesses increased orders ahead of expected tariffs. In response to the data, longer-term Treasury yields ticked slightly higher while futures remained little-changed ahead of the Federal Reserve's policy announcement set for 2:00 p.m. ET. In a post on Truth Social following the GDP data, President Trump again called on the Fed to cut rates. The central bank is widely expected to make no change to its interest rate policy later today. Premarket trending tickers: Novo Nordisk stock falls, Starbucks stock pops Here's a look at some of the top stocks trending in premarket trading: Novo Nordisk (NVO): The stock continued to sink on Wednesday, falling 4% premarket after a 21% wipeout on Tuesday. The drugmaker cut its full-year sales and operating profit guidance again, related to lower growth expectations for its diabetes and weight-loss drugs, Wegovy and Ozempic. Eli Lilly stock also fell Tuesday but was up 1% Wednesday morning. Starbucks (SBUX): Shares of the coffee giant popped 5% premarket after the company reported its sixth straight quarterly sales decline. But things weren't as bad as investors feared, and CEO Brian Niccol assured Wall Street that the company was "ahead of schedule" in its turnaround plan. V.F. Corp (VFC): The Vans parent's stock soared nearly 20% after the company beat first quarter revenue estimates on Wednesday, aided by an uptick in demand for its apparel and footwear products. Palo Alto Networks (PANW): The software company is in final talks to acquire Israeli cybersecurity provider CyberArk, the Wall Street Journal reported, and the deal could be finalized as early as this week. The deal could place a value north of $20 billion on CyberArk, potentially making it one of the largest tech takeovers this year. Shares of Palo Alto Networks rose 0.4% in premarket trading. Meta (META) and Microsoft (MSFT) stocks rose modestly ahead of their quarterly results, which are set to be released after the closing bell on Wednesday. Investors will be looking to the two Big Tech companies for signs of AI sales growth and monetization. Read live coverage of corporate earnings here. A divided Fed is expected to hold rates steady, defying Trump's calls for a cut The Federal Reserve is widely expected to hold interest rates steady on Wednesday, though the central bank remains internally divided over the path of monetary policy amid the Trump administration's pressure on the Fed. Yahoo Finance's Jennifer Schonberger reports: Read more here. Whirlpool is championing the tariffs that have hammered its quarter Yahoo Finance's Hamza Shaban digs into the tariffs story for Whirlpool (WHR) in today's Morning Brief: Read more here on why Whirlpool is looking past tariff setbacks. Good morning. Here's what's happening today. Economic data: Federal Reserve monetary policy decision; GDP annualized; ADP private payrolls (July); (second quarter); Pending home sales, (June); MBA Mortgage Applications (July 25); Minnesota Chicago PMI (July) Earnings: Meta (META), Microsoft (MSFT), Arm (ARM), Altria (MO), Carvana (CVNA), Ford (F), Generac (GNRC), Harley Davidson (HOG), Hershey (HSY), Humana (HUM), The Kraft Heinz Company (KHC), Qualcomm (QCOM), Robinhood (HOOD) Here are some of the biggest stories you may have missed overnight and early this morning: Fed set to hold rates steady, defying Trump's call for a cut Whirlpool is championing the tariffs that have hammered its quarter Meta to report Q2 earnings amid AI investment push Microsoft to report Q4 earnings as Wall Street looks for continued AI growth Deal-hunting Americans are putting corporates on watch Trump eyes 25% India tariff, US-China truce in the balance Wall Street's riding high on relief, not results: Strategist Tesla signs $4.3B battery deal, cuts reliance on China Meta and Microsoft are set to kick off this week's Big Tech earnings Yahoo Finance's Dan Howley has previews of both Meta (META) and Microsoft (MSFT), whose reports come Wednesday. For Meta, it's all about the AI hiring and spree: And Microsoft remains chugging along, its stock up more than 20% this year. Dan says Alphabet's (GOOG, GOOGL) well-received results last week could bode well for Microsoft, as investors focus on AI-driven sales gains: Read more on Meta and Microsoft. Trending tickers: Seagate, Avis and Sarepta Here are some top stocks trending on Yahoo Finance in premarket trading: Seagate Technology (STX) shares fell more than 6% on Wednesday before the bell after the company's first-quarter revenue forecast fell below Wall Street estimates on Tuesday. Seagate earnings were hurt by weak demand for its storage devices amid ongoing uncertainty in the personal computer market. Avis (CAR) stock fell 5% premarket following the car rental company's earnings results on Tuesday. It was also announced that Alphabet (GOOG, GOOGL)-owned company Waymo plans to launch a robotaxi service next year in Dallas and will partner with Avis Budget Group to manage its fleet of all-electric autonomous Jaguar I-Pace vehicles. Sarepta Therapeutics (SRPT) stock rose 10% in premarket trading on Wednesday following the news that it will now start shipping its top-selling muscular dystrophy therapy, Elevidys, after the US Food and Drug Administration (FDA) reversed its request for a voluntary pause late Monday. Starbucks stock pops after US sales fall less than feared Shares of Starbucks (SBUX) rose in premarket despite a quarterly profit miss after sales in the coffee chain's US outlets proved healthier than expected. Yahoo Finance's Brooke DiPalma reports: Read more here. Powell: 'We have made no decisions about September' Markets are pricing in a 63% chance the Federal Reserve cuts interest rates at its next meeting in September. President Trump insinuated a similar expectation earlier this afternoon, saying that the Fed "probably won't" cut rates until September. But when asked directly about cutting rates in September Powell didn't guarantee anything. "We have made no decisions about September," Powell said. "We don't we don't do that in advance." Powell noted that there will be two rounds of inflation and labor market reports ahead of the next meeting that will help guide that decision. Markets are pricing in a 63% chance the Federal Reserve cuts interest rates at its next meeting in September. President Trump insinuated a similar expectation earlier this afternoon, saying that the Fed "probably won't" cut rates until September. But when asked directly about cutting rates in September Powell didn't guarantee anything. "We have made no decisions about September," Powell said. "We don't we don't do that in advance." Powell noted that there will be two rounds of inflation and labor market reports ahead of the next meeting that will help guide that decision. One chart helps explain the case for cutting interest rates The Fed held interest rates steady on Wednesday but the decision wasn't unanimous. Fed Govenors Christopher Waller and Michelle Bowman dissented. In a speech on July 17 titled the "case for cutting now," Waller pointed out that the tariff inflation boost will be "temporary." "Standard central banking practice is to "look through" such price-level effects as long as inflation expectations are anchored, which they are." Goldman Sachs Chief US economist David Mericle provided a chart in the Yahoo Finance Chartbook that visualizes this point. Mericle and the team at Goldman Sachs expect core PCE inflation to peak at 3.3% around June 2026 before collapsing to 2.7% by the end of the year and continuing its path lower. To Mericle, whose team holds a call for the Fed to cut rates by a quarter percentage point at its final three meetings of the year, the key part of this chart is that inflation eventually returns its trend downward once the tariff pass through is finished. "We agree with Governor Waller that tariffs will have only a one-time effect on the price level and are unlikely to dislodge inflation expectations and ignite a prolonged period of high inflation," Mericle wrote in a research note on July 27. But, Mericle added, the one-time tariff boost sending inflation back above 3% "could leave some Fed officials hesitant to cut." The Fed held interest rates steady on Wednesday but the decision wasn't unanimous. Fed Govenors Christopher Waller and Michelle Bowman dissented. In a speech on July 17 titled the "case for cutting now," Waller pointed out that the tariff inflation boost will be "temporary." "Standard central banking practice is to "look through" such price-level effects as long as inflation expectations are anchored, which they are." Goldman Sachs Chief US economist David Mericle provided a chart in the Yahoo Finance Chartbook that visualizes this point. Mericle and the team at Goldman Sachs expect core PCE inflation to peak at 3.3% around June 2026 before collapsing to 2.7% by the end of the year and continuing its path lower. To Mericle, whose team holds a call for the Fed to cut rates by a quarter percentage point at its final three meetings of the year, the key part of this chart is that inflation eventually returns its trend downward once the tariff pass through is finished. "We agree with Governor Waller that tariffs will have only a one-time effect on the price level and are unlikely to dislodge inflation expectations and ignite a prolonged period of high inflation," Mericle wrote in a research note on July 27. But, Mericle added, the one-time tariff boost sending inflation back above 3% "could leave some Fed officials hesitant to cut." Fed leaves interest rates unchanged as Bowman and Waller dissent In a widely anticipated move, the Federal Reserve held interest rates steady in a range of 4.25% to 4.5%. The decision was not unanimous with Fed Governors Christopher Waller and Michelle Bowman voting against the decision. Those officials preferred the Fed to lower the federal funds rate by a quarter of a percentage point. In a widely anticipated move, the Federal Reserve held interest rates steady in a range of 4.25% to 4.5%. The decision was not unanimous with Fed Governors Christopher Waller and Michelle Bowman voting against the decision. Those officials preferred the Fed to lower the federal funds rate by a quarter of a percentage point. Stocks steady into Fed decision Stocks are modestly higher on Wednesday as investors await the Federal Reserve's next interest rate decision and a subsequent press conference from Fed Chair Jerome Powell. The Dow Jones Industrial Average (^DJI) nudged up 0.1%, while the S&P 500 (^GSPC) rose 0.2%. The tech-heavy Nasdaq Composite (^IXIC) ticked up 0.5%. Meanwhile, the 10-year Treasury yield was up about 3 basis points to hover near 4.36%. Stocks are modestly higher on Wednesday as investors await the Federal Reserve's next interest rate decision and a subsequent press conference from Fed Chair Jerome Powell. The Dow Jones Industrial Average (^DJI) nudged up 0.1%, while the S&P 500 (^GSPC) rose 0.2%. The tech-heavy Nasdaq Composite (^IXIC) ticked up 0.5%. Meanwhile, the 10-year Treasury yield was up about 3 basis points to hover near 4.36%. The 'economic mirage' in the Q2 GDP rebound US economic growth rebounded in the second quarter after contracting for the first time in three years to start 2025. The headline number, a 3% annualized pace of growth, was well above the 2.6% increase economists had expected, a sharp mover higher from the 0.5% contraction seen in the first quarter. But the BEA noted that the second quarter bounce-back reflected a decrease in imports, which are a subtraction in the calculation of GDP. EY chief economist Gregory Daco noted that the quarterly swings in imports created an "economic mirage" that masked some underlying cooling in the economy. Daco argues that when "stripping out the noise" and looking at a metric like growth in sales to private domestic purchasers, the data points to a slowing in economic activity. Sales to private domestic purchasers rose 1.2% in the second quarter, lower than the 1.9% growth seen in the first quarter and the slowest pace of growth since 2022. "Policy uncertainty, resurgent inflation pressures stemming from tariffs, and tighter immigration constraints are beginning to weigh more visibly on activity," Daco said. Read more here. US economic growth rebounded in the second quarter after contracting for the first time in three years to start 2025. The headline number, a 3% annualized pace of growth, was well above the 2.6% increase economists had expected, a sharp mover higher from the 0.5% contraction seen in the first quarter. But the BEA noted that the second quarter bounce-back reflected a decrease in imports, which are a subtraction in the calculation of GDP. EY chief economist Gregory Daco noted that the quarterly swings in imports created an "economic mirage" that masked some underlying cooling in the economy. Daco argues that when "stripping out the noise" and looking at a metric like growth in sales to private domestic purchasers, the data points to a slowing in economic activity. Sales to private domestic purchasers rose 1.2% in the second quarter, lower than the 1.9% growth seen in the first quarter and the slowest pace of growth since 2022. "Policy uncertainty, resurgent inflation pressures stemming from tariffs, and tighter immigration constraints are beginning to weigh more visibly on activity," Daco said. Read more here. Wall Street bullish on Reddit ahead of Q2 earnings Reddit (RDDT) stock rose more than 2% Wednesday as Wall Street analysts largely maintained their bullish takes on shares ahead of the company's second quarter earnings. Analysts at Needham, Deutsche Bank, Jefferies, and Raymond James reiterated their Buy ratings on the stock in notes to clients heading into the social media platform's quarterly results Thursday after the bell. "The bear case (that Google Search will no longer send traffic to RDDT) is not playing out," wrote Needham analyst Laura Martin. Concerns over the impact of changes to Google Search's algorithm on Reddit's daily active users drove the stock down in the aftermath of its past two quarterly reports. Jefferies analyst John Colantuoni said web traffic data showed daily active user growth stabilizing in the past three months after decelerating throughout the first quarter. Needham's Martin added: "AI-driven ad tools, such as Reddit Insights & Conversation Summaries, suggest RDDT is already monetizing GenAI." Reddit (RDDT) stock rose more than 2% Wednesday as Wall Street analysts largely maintained their bullish takes on shares ahead of the company's second quarter earnings. Analysts at Needham, Deutsche Bank, Jefferies, and Raymond James reiterated their Buy ratings on the stock in notes to clients heading into the social media platform's quarterly results Thursday after the bell. "The bear case (that Google Search will no longer send traffic to RDDT) is not playing out," wrote Needham analyst Laura Martin. Concerns over the impact of changes to Google Search's algorithm on Reddit's daily active users drove the stock down in the aftermath of its past two quarterly reports. Jefferies analyst John Colantuoni said web traffic data showed daily active user growth stabilizing in the past three months after decelerating throughout the first quarter. Needham's Martin added: "AI-driven ad tools, such as Reddit Insights & Conversation Summaries, suggest RDDT is already monetizing GenAI." Mortgage rates near 7% Home contract signings slumped more than expected in June, the latest sign that the housing market is still essentially frozen, Yahoo Finance's Claire Boston reports. Boston writes: Read the full story here. Home contract signings slumped more than expected in June, the latest sign that the housing market is still essentially frozen, Yahoo Finance's Claire Boston reports. Boston writes: Read the full story here. Hershey stock climbs after Q2 earnings beat as investors look past tariff, cocoa shortage impacts Hershey (HSY) shares rose Wednesday morning after the candy and snack maker reported second quarter earnings and revenue ahead of Wall Street's expectations. Its earnings per share of $1.21 were above the $1.01 projected, while revenue of $2.6 billion was above the $2.5 billion estimate, according to Bloomberg consensus data. Revenue was boosted by a later Easter in 2025. The stock's climb comes despite the company revising its full-year outlook. It now sees earnings per share falling 50% in 2025 versus the prior 40% decline expected. That drop comes as Hershey faces record-high cocoa prices (CC=F) due to a global shortage and anticipates as much as a $180 million hit during the fiscal year from tariffs. The company recently raised candy prices due to elevated cocoa costs. Hershey (HSY) shares rose Wednesday morning after the candy and snack maker reported second quarter earnings and revenue ahead of Wall Street's expectations. Its earnings per share of $1.21 were above the $1.01 projected, while revenue of $2.6 billion was above the $2.5 billion estimate, according to Bloomberg consensus data. Revenue was boosted by a later Easter in 2025. The stock's climb comes despite the company revising its full-year outlook. It now sees earnings per share falling 50% in 2025 versus the prior 40% decline expected. That drop comes as Hershey faces record-high cocoa prices (CC=F) due to a global shortage and anticipates as much as a $180 million hit during the fiscal year from tariffs. The company recently raised candy prices due to elevated cocoa costs. Trump says Powell must lower interest rates 'now' following GDP uptick President Trump used a return to GDP growth ahead of a widely expected Federal Reserve decision to keep monetary policy unchanged to say that Fed Chairman Jerome Powell must 'now' lower rates, Yahoo Finance's Ben Werschkul reports. Werschkul writes: Read the full story here. President Trump used a return to GDP growth ahead of a widely expected Federal Reserve decision to keep monetary policy unchanged to say that Fed Chairman Jerome Powell must 'now' lower rates, Yahoo Finance's Ben Werschkul reports. Werschkul writes: Read the full story here. Marvell Technology soars 10% as Morgan Stanley analyst lifts price outlook Marvell Technology (MRVL) shares spiked Wednesday after Morgan Stanley (MS) analyst Joseph Moore lifted his price target on the stock to $80 from $73. In a note to clients on Tuesday, Moore cited the chipmaker's opportunity in the AI networking space. Networking products such as data center switches, ethernet controllers, and digital signal processors are required in data centers to receive and send data between AI chips and servers. Marvell makes both networking products and custom AI chips (also known as processors) called ASIC accelerators. "For both Broadcom (AVGO) and Marvell (MRVL), we expect AI upside this year to come from the networking side rather than processors [custom AI chips]," Moore wrote. Moore said Marvell "should be a direct beneficiary of NVIDIA's upcoming product cycle." That's because networking technology is needed to support upcoming purchases of Nvidia's latest Blackwell chips and servers. "Marvell is firmly in the AI winners camp," wrote Moore. Marvell Technology (MRVL) shares spiked Wednesday after Morgan Stanley (MS) analyst Joseph Moore lifted his price target on the stock to $80 from $73. In a note to clients on Tuesday, Moore cited the chipmaker's opportunity in the AI networking space. Networking products such as data center switches, ethernet controllers, and digital signal processors are required in data centers to receive and send data between AI chips and servers. Marvell makes both networking products and custom AI chips (also known as processors) called ASIC accelerators. "For both Broadcom (AVGO) and Marvell (MRVL), we expect AI upside this year to come from the networking side rather than processors [custom AI chips]," Moore wrote. Moore said Marvell "should be a direct beneficiary of NVIDIA's upcoming product cycle." That's because networking technology is needed to support upcoming purchases of Nvidia's latest Blackwell chips and servers. "Marvell is firmly in the AI winners camp," wrote Moore. Nvidia leads muted Mag 7 ahead of Microsoft, Meta earnings Nvidia (NVDA) shares moved up 1% early on Wednesday, leading the group of "Magnificent Seven" tech stocks ahead of earnings reports from Microsoft (MSFT) and Meta (META) after the bell. Amazon (AMZN), Tesla (TSLA), and Microsoft stock prices wavered around the flat line, while Meta and Google (GOOG) shares rose less than 1%. Apple (AAPL) slipped around 0.1% in lackluster trade for US stocks more broadly. Nvidia is up roughly 4% over the past five trading sessions, compared with the tech heavy Nasdaq Composite's (^IXIC) 0.6% gain over the same period. Nvidia (NVDA) shares moved up 1% early on Wednesday, leading the group of "Magnificent Seven" tech stocks ahead of earnings reports from Microsoft (MSFT) and Meta (META) after the bell. Amazon (AMZN), Tesla (TSLA), and Microsoft stock prices wavered around the flat line, while Meta and Google (GOOG) shares rose less than 1%. Apple (AAPL) slipped around 0.1% in lackluster trade for US stocks more broadly. Nvidia is up roughly 4% over the past five trading sessions, compared with the tech heavy Nasdaq Composite's (^IXIC) 0.6% gain over the same period. Stocks steady at the open US stocks held steady at the start of Wednesday's trading session ahead of the Federal Reserve's interest-rate decision and earnings from Big Tech names Microsoft (MSFT) and Meta (META). The Dow Jones Industrial Average (^DJI) wavered along the flat line, while the S&P 500 (^GSPC) nudged nearly 0.1% higher. The tech-heavy Nasdaq Composite (^IXIC) ticked up roughly 0.2%. The indices had fallen on Tuesday, with the S&P 500 ending its six-day record streak. US stocks held steady at the start of Wednesday's trading session ahead of the Federal Reserve's interest-rate decision and earnings from Big Tech names Microsoft (MSFT) and Meta (META). The Dow Jones Industrial Average (^DJI) wavered along the flat line, while the S&P 500 (^GSPC) nudged nearly 0.1% higher. The tech-heavy Nasdaq Composite (^IXIC) ticked up roughly 0.2%. The indices had fallen on Tuesday, with the S&P 500 ending its six-day record streak. Jobs data, GDP both top forecasts in a strong morning for the US economy Data from ADP on private payroll growth and the first look at second quarter GDP growth out Wednesday morning both topped forecasts, a sign of continued resilience in the US economy. Private payroll growth in July tallied 104,000 according to the latest data from ADP, more than the 77,000 jobs that private employers were expected to add and a rebound from the 23,000 jobs that were cut in the sector last month. "Our hiring and pay data are broadly indicative of a healthy economy," said Nela Richardson, chief economist at ADP. "Employers have grown more optimistic that consumers, the backbone of the economy, will remain resilient." Fifteen minutes after ADP's data was released, the BEA put out its first look at GDP growth in the second quarter, which showed the US economy grew at an annualized rate of 3% in the second quarter, faster than the 2.6% that had been expected by economists. In the first three months of the year, the US economy contracted at a rate of 0.5%. The BEA noted in its release the rebound in the second quarter was largely a result of decreased imports, which had weighed on growth in the first quarter as businesses increased orders ahead of expected tariffs. In response to the data, longer-term Treasury yields ticked slightly higher while futures remained little-changed ahead of the Federal Reserve's policy announcement set for 2:00 p.m. ET. In a post on Truth Social following the GDP data, President Trump again called on the Fed to cut rates. The central bank is widely expected to make no change to its interest rate policy later today. Data from ADP on private payroll growth and the first look at second quarter GDP growth out Wednesday morning both topped forecasts, a sign of continued resilience in the US economy. Private payroll growth in July tallied 104,000 according to the latest data from ADP, more than the 77,000 jobs that private employers were expected to add and a rebound from the 23,000 jobs that were cut in the sector last month. "Our hiring and pay data are broadly indicative of a healthy economy," said Nela Richardson, chief economist at ADP. "Employers have grown more optimistic that consumers, the backbone of the economy, will remain resilient." Fifteen minutes after ADP's data was released, the BEA put out its first look at GDP growth in the second quarter, which showed the US economy grew at an annualized rate of 3% in the second quarter, faster than the 2.6% that had been expected by economists. In the first three months of the year, the US economy contracted at a rate of 0.5%. The BEA noted in its release the rebound in the second quarter was largely a result of decreased imports, which had weighed on growth in the first quarter as businesses increased orders ahead of expected tariffs. In response to the data, longer-term Treasury yields ticked slightly higher while futures remained little-changed ahead of the Federal Reserve's policy announcement set for 2:00 p.m. ET. In a post on Truth Social following the GDP data, President Trump again called on the Fed to cut rates. The central bank is widely expected to make no change to its interest rate policy later today. Premarket trending tickers: Novo Nordisk stock falls, Starbucks stock pops Here's a look at some of the top stocks trending in premarket trading: Novo Nordisk (NVO): The stock continued to sink on Wednesday, falling 4% premarket after a 21% wipeout on Tuesday. The drugmaker cut its full-year sales and operating profit guidance again, related to lower growth expectations for its diabetes and weight-loss drugs, Wegovy and Ozempic. Eli Lilly stock also fell Tuesday but was up 1% Wednesday morning. Starbucks (SBUX): Shares of the coffee giant popped 5% premarket after the company reported its sixth straight quarterly sales decline. But things weren't as bad as investors feared, and CEO Brian Niccol assured Wall Street that the company was "ahead of schedule" in its turnaround plan. V.F. Corp (VFC): The Vans parent's stock soared nearly 20% after the company beat first quarter revenue estimates on Wednesday, aided by an uptick in demand for its apparel and footwear products. Palo Alto Networks (PANW): The software company is in final talks to acquire Israeli cybersecurity provider CyberArk, the Wall Street Journal reported, and the deal could be finalized as early as this week. The deal could place a value north of $20 billion on CyberArk, potentially making it one of the largest tech takeovers this year. Shares of Palo Alto Networks rose 0.4% in premarket trading. Meta (META) and Microsoft (MSFT) stocks rose modestly ahead of their quarterly results, which are set to be released after the closing bell on Wednesday. Investors will be looking to the two Big Tech companies for signs of AI sales growth and monetization. Read live coverage of corporate earnings here. Here's a look at some of the top stocks trending in premarket trading: Novo Nordisk (NVO): The stock continued to sink on Wednesday, falling 4% premarket after a 21% wipeout on Tuesday. The drugmaker cut its full-year sales and operating profit guidance again, related to lower growth expectations for its diabetes and weight-loss drugs, Wegovy and Ozempic. Eli Lilly stock also fell Tuesday but was up 1% Wednesday morning. Starbucks (SBUX): Shares of the coffee giant popped 5% premarket after the company reported its sixth straight quarterly sales decline. But things weren't as bad as investors feared, and CEO Brian Niccol assured Wall Street that the company was "ahead of schedule" in its turnaround plan. V.F. Corp (VFC): The Vans parent's stock soared nearly 20% after the company beat first quarter revenue estimates on Wednesday, aided by an uptick in demand for its apparel and footwear products. Palo Alto Networks (PANW): The software company is in final talks to acquire Israeli cybersecurity provider CyberArk, the Wall Street Journal reported, and the deal could be finalized as early as this week. The deal could place a value north of $20 billion on CyberArk, potentially making it one of the largest tech takeovers this year. Shares of Palo Alto Networks rose 0.4% in premarket trading. Meta (META) and Microsoft (MSFT) stocks rose modestly ahead of their quarterly results, which are set to be released after the closing bell on Wednesday. Investors will be looking to the two Big Tech companies for signs of AI sales growth and monetization. Read live coverage of corporate earnings here. A divided Fed is expected to hold rates steady, defying Trump's calls for a cut The Federal Reserve is widely expected to hold interest rates steady on Wednesday, though the central bank remains internally divided over the path of monetary policy amid the Trump administration's pressure on the Fed. Yahoo Finance's Jennifer Schonberger reports: Read more here. The Federal Reserve is widely expected to hold interest rates steady on Wednesday, though the central bank remains internally divided over the path of monetary policy amid the Trump administration's pressure on the Fed. Yahoo Finance's Jennifer Schonberger reports: Read more here. Whirlpool is championing the tariffs that have hammered its quarter Yahoo Finance's Hamza Shaban digs into the tariffs story for Whirlpool (WHR) in today's Morning Brief: Read more here on why Whirlpool is looking past tariff setbacks. Yahoo Finance's Hamza Shaban digs into the tariffs story for Whirlpool (WHR) in today's Morning Brief: Read more here on why Whirlpool is looking past tariff setbacks. Good morning. Here's what's happening today. Economic data: Federal Reserve monetary policy decision; GDP annualized; ADP private payrolls (July); (second quarter); Pending home sales, (June); MBA Mortgage Applications (July 25); Minnesota Chicago PMI (July) Earnings: Meta (META), Microsoft (MSFT), Arm (ARM), Altria (MO), Carvana (CVNA), Ford (F), Generac (GNRC), Harley Davidson (HOG), Hershey (HSY), Humana (HUM), The Kraft Heinz Company (KHC), Qualcomm (QCOM), Robinhood (HOOD) Here are some of the biggest stories you may have missed overnight and early this morning: Fed set to hold rates steady, defying Trump's call for a cut Whirlpool is championing the tariffs that have hammered its quarter Meta to report Q2 earnings amid AI investment push Microsoft to report Q4 earnings as Wall Street looks for continued AI growth Deal-hunting Americans are putting corporates on watch Trump eyes 25% India tariff, US-China truce in the balance Wall Street's riding high on relief, not results: Strategist Tesla signs $4.3B battery deal, cuts reliance on China Economic data: Federal Reserve monetary policy decision; GDP annualized; ADP private payrolls (July); (second quarter); Pending home sales, (June); MBA Mortgage Applications (July 25); Minnesota Chicago PMI (July) Earnings: Meta (META), Microsoft (MSFT), Arm (ARM), Altria (MO), Carvana (CVNA), Ford (F), Generac (GNRC), Harley Davidson (HOG), Hershey (HSY), Humana (HUM), The Kraft Heinz Company (KHC), Qualcomm (QCOM), Robinhood (HOOD) Here are some of the biggest stories you may have missed overnight and early this morning: Fed set to hold rates steady, defying Trump's call for a cut Whirlpool is championing the tariffs that have hammered its quarter Meta to report Q2 earnings amid AI investment push Microsoft to report Q4 earnings as Wall Street looks for continued AI growth Deal-hunting Americans are putting corporates on watch Trump eyes 25% India tariff, US-China truce in the balance Wall Street's riding high on relief, not results: Strategist Tesla signs $4.3B battery deal, cuts reliance on China Meta and Microsoft are set to kick off this week's Big Tech earnings Yahoo Finance's Dan Howley has previews of both Meta (META) and Microsoft (MSFT), whose reports come Wednesday. For Meta, it's all about the AI hiring and spree: And Microsoft remains chugging along, its stock up more than 20% this year. Dan says Alphabet's (GOOG, GOOGL) well-received results last week could bode well for Microsoft, as investors focus on AI-driven sales gains: Read more on Meta and Microsoft. Yahoo Finance's Dan Howley has previews of both Meta (META) and Microsoft (MSFT), whose reports come Wednesday. For Meta, it's all about the AI hiring and spree: And Microsoft remains chugging along, its stock up more than 20% this year. Dan says Alphabet's (GOOG, GOOGL) well-received results last week could bode well for Microsoft, as investors focus on AI-driven sales gains: Read more on Meta and Microsoft. Trending tickers: Seagate, Avis and Sarepta Here are some top stocks trending on Yahoo Finance in premarket trading: Seagate Technology (STX) shares fell more than 6% on Wednesday before the bell after the company's first-quarter revenue forecast fell below Wall Street estimates on Tuesday. Seagate earnings were hurt by weak demand for its storage devices amid ongoing uncertainty in the personal computer market. Avis (CAR) stock fell 5% premarket following the car rental company's earnings results on Tuesday. It was also announced that Alphabet (GOOG, GOOGL)-owned company Waymo plans to launch a robotaxi service next year in Dallas and will partner with Avis Budget Group to manage its fleet of all-electric autonomous Jaguar I-Pace vehicles. Sarepta Therapeutics (SRPT) stock rose 10% in premarket trading on Wednesday following the news that it will now start shipping its top-selling muscular dystrophy therapy, Elevidys, after the US Food and Drug Administration (FDA) reversed its request for a voluntary pause late Monday. Here are some top stocks trending on Yahoo Finance in premarket trading: Seagate Technology (STX) shares fell more than 6% on Wednesday before the bell after the company's first-quarter revenue forecast fell below Wall Street estimates on Tuesday. Seagate earnings were hurt by weak demand for its storage devices amid ongoing uncertainty in the personal computer market. Avis (CAR) stock fell 5% premarket following the car rental company's earnings results on Tuesday. It was also announced that Alphabet (GOOG, GOOGL)-owned company Waymo plans to launch a robotaxi service next year in Dallas and will partner with Avis Budget Group to manage its fleet of all-electric autonomous Jaguar I-Pace vehicles. Sarepta Therapeutics (SRPT) stock rose 10% in premarket trading on Wednesday following the news that it will now start shipping its top-selling muscular dystrophy therapy, Elevidys, after the US Food and Drug Administration (FDA) reversed its request for a voluntary pause late Monday. Starbucks stock pops after US sales fall less than feared Shares of Starbucks (SBUX) rose in premarket despite a quarterly profit miss after sales in the coffee chain's US outlets proved healthier than expected. Yahoo Finance's Brooke DiPalma reports: Read more here. Shares of Starbucks (SBUX) rose in premarket despite a quarterly profit miss after sales in the coffee chain's US outlets proved healthier than expected. Yahoo Finance's Brooke DiPalma reports: Read more here.
Yahoo
22 minutes ago
- Yahoo
€40m vice-captain offered to Liverpool
Liverpool have been presented a unique opportunity to strengthen a problem area as a result of Barcelona's financial concerns. The Reds are about to head into the season with only TWO fully-fit centre-backs and there are question marks over the future of one of them. LFC x New Era Shop Now LFC Signed Merch Shop Now LFC x Titleist Shop Now Virgil van Dijk has been secured to a contract until 2027 but his partner Ibrahima Konate is only under contract until 2026. With no sign of a breakthrough, it means the club could be left woefully short of viable central defensive options in less than 12 months. Factor in the injury to Joe Gomez - third-choice at the outset of preseason - and you can see how centre-back could potentially become an issue. Barcelona turn to Liverpool Recently it's been suggested that Barca could be forced into selling Ronald Araujo in order to make space in the budget. Araujo, 26, is under contract until 2021 but could be offloaded for a bargain €40m fee this summer. Liverpool have been previously linked with the Uruguayan stopper - with the player being described as a favourite of Arne Slot. And with uncertainty over Konate as well as Gomez's injury - this could be a unique opportunity to strike. And Defensa Central reckons the Reds could be preferred bidders - giving the Premier League champions a big advantage over other suitors. Barca don't want to sell Araujo to Real Madrid Those interested clubs are reported to now include Real Madrid and Barca fear ANOTHER Luis Figo-style transfer happening. That's why club president Joan Laporta would rather sell Araujo to one of his Premier League suitors - namely Liverpool. 'The Barça president could sell his second captain, clearly forced by the debts that are drowning Barcelona,' the report reads. 'Laporta doesn't want another Figo case and is negotiating with Liverpool to keep him from joining Real Madrid. 'This explains why Joan Laporta wants the player to go to another club, and in the Premier League there are several who are willing to put more than 40 million euros for the Uruguayan, among them Liverpool.' Konate to Real, Araujo to Liverpool? Of course Real are among the contenders to sign Konate either on a free transfer or else for a fee this summer. And so we could have a domino effect involving the France international and Araujo looming into view. If Liverpool sell Konate to Real Madrid this summer - for €50m or so - it means Los Blancos do not have to go chasing Araujo. That in turn would reduce the risk of embarrassing Laporta - who would otherwise have to sell one of his vice-captains to Real Madrid. Instead Liverpool - with a vacancy at centre-back and money to spend - could move for Araujo. Let's see how this one plays out over the next few weeks.
UPI
25 minutes ago
- UPI
Mark Zuckerberg announces plans for 'personal superintelligence'
July 30 (UPI) -- Meta CEO Mark Zuckerberg published a plan for "personal superintelligence" in artificial intelligence ahead of the Meta second quarter earnings report scheduled for later Wednesday. Meta has spent billions hiring top AI researchers and engineers to take on this goal. While the outline for superintelligence wasn't specific, he said he views it as a tool for "personal empowerment" over automation. "This is distinct from others in the industry who believe superintelligence should be directed centrally towards automating all valuable work, and then humanity will live on a dole of its output," he wrote. "At Meta, we believe that people pursuing their individual aspirations is how we have always made progress expanding prosperity, science, health, and culture. This will be increasingly important in the future as well. The intersection of technology and how people live is Meta's focus, and this will only become more important in the future." The company in June announced plans to invest $14.3 billion into Scale AI and hired CEO Alexandr Wang as Meta's chief AI officer. Then Zuckerberg announced a new business unit called Meta Superintelligence Labs. Staff will work on foundation models such as the open-source Llama family of AI models, products and Fundamental AI Research projects. "As profound as the abundance produced by AI may one day be, an even more meaningful impact on our lives will likely come from everyone having a personal superintelligence that helps you achieve your goals, create what you want to see in the world, experience any adventure, be a better friend to those you care about, and grow to become the person you aspire to be," Zuckerberg wrote. "Meta's vision is to bring personal superintelligence to everyone. We believe in putting this power in people's hands to direct it towards what they value in their own lives." He also mentioned the importance of caution in AI. "We believe the benefits of superintelligence should be shared with the world as broadly as possible. That said, superintelligence will raise novel safety concerns. We'll need to be rigorous about mitigating these risks and careful about what we choose to open source. Still, we believe that building a free society requires that we aim to empower people as much as possible," Zuckerberg wrote.
