Facebook, Warby Parker, Merck: The Week-Defining Stocks

Texas News Today

The social media giant announced on Monday that it would suspend plans for Instagram Kids after lawmakers expressed concerns about the platform’s impact on youth mental health. At a hearing on Thursday, the senator accused the company of ignoring an internal investigation that showed Instagram was harmful to a large number of teenage girls. Facebook’s share price fell 3.7% on Tuesday.

Alphabet’s Google scrutiny is happening in the ground below. Australia’s competition watchdog has expressed concern that Alphabet’s Google arm is the dominant force in much of the online advertising space and said it is considering regulatory measures against the tech giant. The country is set to regulate the largest tech companies in the United States. This approach has received widespread attention as other countries are considering similar actions. Earlier this year, Australian legislators passed legislation that effectively required major tech companies, including Google and Facebook, to pay news publishers for content. Shares of Alphabet fell 3.8% on Tuesday.

Merck & Co.

The next treatment for Kovid-19 may be in tablet form. Merck and its partner Ridgeback Biotherapeutics LP said on Friday that their experimental pills helped prevent people at high risk from becoming seriously ill and dying in the early stages of COVID-19. The drug, Molnupiravir, reduces the risk of hospitalization or death for mild to moderate COVID subjects by about 50%. The results of this study could lead to approval by the end of the year for mollupiravir, which allows doctors to avoid hospitalizations by making a drug that infected people can easily take at home. Shares of Merck rose 8.4% on Friday.

dollar Tree Ltd.

Dollar Tree passing by the box. The discount chain, which sells almost everything in the chain of the same name for $1, is planning to add more products at slightly higher prices as the cost of various products increases. The retailer is now selling the products at higher prices between $1.25 and $1.50, or more than $1 in some stores and in the section labeled Dollar Tree Plus. asked to extend the test. Rising prices are the result of inflation, rising wages in tight labor markets and rising rents in the roar of the supply chain. Dollar Tree’s share price rose 17% on Wednesday.

warby parker Ltd.

Warby Parker got off to a great start. The eyewear maker has been valued at nearly $6.8 billion since going public on Wednesday, and its first trading day ended with a valuation double that of last year’s private funding round. The company sold its shares through a direct listing rather than a traditional public offering. Warby Parker’s reception shows that more than a year after Casper Sleep, investor interest in growth-focused, unprofitable, direct-to-consumer retailers hasn’t completely waned. I am of a corporation

Great debut. Warby Parker’s stock closed up 36 percent from Wednesday’s reference price of $40.

bed Bath and Beyond Ltd.

Bed Bath & Beyond has lagged behind in the last quarter. On Thursday, home goods retailers lowered their annual guidance after reporting a sharp decline in quarterly sales due to supply chain challenges, inflation and slowing in-store traffic due to COVID-19 concerns. The company’s concern comes as companies are in a hurry to replenish their pandemic and dwindling inventory. So far, the US supply chain has not been able to adapt to the increase in imports amid shipping delays and cargo arrears. CEO Mark Tritton said the company is also working on internal enforcement issues, such as how to better allocate marketing resources to attract more buyers. Bed Bath & Beyond’s share price fell 22% on Thursday.

Lordstown Motors Ltd.

Lordstown is trying to avoid running into the sky. Electric truck makers, struggling to raise money, said Thursday they plan to sell their Ohio plant, which they bought two years ago, to bring their first pickup trucks to market. Buyer is a contract assembler Foxconn Technology Group,

We also plan to invest $50 million in Lordstown through the purchase of common stock. Lordstown ran out of cash earlier this year than expected and is trying to raise money by warning that there is not enough money to expand commercial production. Automakers use Foxconn to make vehicles in their factories. Shares of Rhodestown lost 18% on Friday.

write to Francesca Fontana ([email protected])

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