{"id":26106,"date":"2022-07-28T08:21:15","date_gmt":"2022-07-28T12:21:15","guid":{"rendered":"https:\/\/www.technewsday.com\/?p=26106"},"modified":"2022-07-29T11:53:14","modified_gmt":"2022-07-29T15:53:14","slug":"poor-quarterly-results-send-shares-of-major-u-s-companies-plummeting","status":"publish","type":"post","link":"https:\/\/technewsday.com\/staging\/poor-quarterly-results-send-shares-of-major-u-s-companies-plummeting\/","title":{"rendered":"Poor Quarterly Results Send Shares Of Major U.S. Companies Plummeting"},"content":{"rendered":"<p id=\"arIndex_1\" data-ar-index=\"0\">Shares of major U.S. companies slumped on Wednesday after posting poor quarterly results and forecasts amid persistent inflation and fears of a possible recession.<\/p>\n<p id=\"arIndex_2\" data-ar-index=\"1\">Affected companies include Facebook&#8217;s parent company Meta Platforms, Qualcomm, ServiceNow, Best Buy and Teladoc Health.<\/p>\n<p id=\"arIndex_3\" data-ar-index=\"2\">Meta posted the first quarterly decline in its history and issued a gloomy forecast that sent shares down more than 3%. Qualcomm&#8217;s fourth-quarter revenue forecast fell short of analysts&#8217; expectations, sending its shares down more than 2%. The chipmaker is also gearing up for tough economic conditions.<\/p>\n<p id=\"arIndex_4\" data-ar-index=\"3\">Shares in business software vendor ServiceNow slumped 6% after the company cut its forecast for subscription revenue. Cloud software heavyweight Salesforce also lost more than 2% following ServiceNow&#8217;s report.<\/p>\n<p id=\"arIndex_5\" data-ar-index=\"4\">Best Buy fell 2% after the electronics retailer warned of falling sales as customers battle inflation.<\/p>\n<p id=\"arIndex_6\" data-ar-index=\"5\">Teladoc Health slumped 20% after the virtual health company posted a quarterly loss of US$3.1 billion, compared with a loss of US$133 million a year earlier.<\/p>\n<p id=\"arIndex_7\" data-ar-index=\"6\">The sources for this piece include an article in <a href=\"https:\/\/www.reuters.com\/markets\/us\/meta-others-tumble-after-hours-results-point-weak-economy-2022-07-27\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of major U.S. companies slumped on Wednesday after posting poor quarterly results and forecasts amid persistent inflation and fears of a possible recession. Affected companies include Facebook&#8217;s parent company Meta Platforms, Qualcomm, ServiceNow, Best Buy and Teladoc Health. Meta posted the first quarterly decline in its history and issued a gloomy forecast that sent [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[57,17],"tags":[43,275],"class_list":["post-26106","post","type-post","status-publish","format-standard","hentry","category-companies","category-data-analytics","tag-facebook","tag-top-story"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/26106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=26106"}],"version-history":[{"count":4,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/26106\/revisions"}],"predecessor-version":[{"id":26201,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/26106\/revisions\/26201"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=26106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=26106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=26106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}