TOP 5 STOCKS TO WATCHOUT:-
1.#TWITTER - Twitter Inc said on Thursday it expected to double annual revenue to at least $7.5 billion and reach 315 million users in 2023, sending its shares up more than 8%.
Twitter will boost its new features to increase revenue and users, it said ahead of its investor presentation on Thursday.
The social media network has struggled to catch up with larger rivals like Facebook and smaller viral apps like ByteDance's TikTok in offering features. But in recent months, it has made a push to launch services such as audio-chat, similar to that of viral app Clubhouse.
"We know we've been slow," said Chief Executive Jack Dorsey during Twitter's virtual investor day. "When you compare us with our peers, it's been especially stark."
In a regulatory filing, Twitter estimated reaching at least 315 million monetizable daily active users (mDAU), or those who see ads, by the fourth quarter of 2023.
Internationally, Twitter faces challenges in India, a rapidly growing market with plans to require that social media companies erase certain content and coordinate with law enforcement.
Twitter had previously refused to delete content connected to farmers' protests in India.
2. #FACEBOOK:-Facebook Incon Thursday launched a campaign to explain to users how small businesses depend on personalized advertising, ahead of upcoming plans by Apple Inc to prompt iPhone users to allow apps to use their data for ads.
The campaign called "Good Ideas Deserve To Be Found" highlights several advertisers that have grown their business on Facebook and Instagram, such as Houston-based fashion brand House of Takura. A commercial will air on TV, including during the Golden Globe Awards this Sunday, Facebook said.
The campaign to convince users to warm up to ads comes as Facebook, which faces several U.S. antitrust lawsuits, has accused Apple of anti-competitive behavior in using its control of the App Store to limit app developers' collection of user data from other apps.
Facebook's ad spending behind the campaign is in the millions of dollars, according to a source familiar with the matter.
Facebook generates revenue from ads and through fees for businesses using a feature that lets customers purchase directly within Facebook and Instagram. Facebook said it will continue to waive those fees through June.
The social media giant said Thursday it will launch an Instagram sticker and Facebook hashtag "DeserveToBeFound" to let small businesses share and publicize their offerings across the platforms.
It will also simplify its Ads Manager, a self-serve tool that lets brands buy and create Facebook ads, to make it easier for small businesses to use.
Annette Njau, founder of House of Takura, said personalized ads have been essential to expanding her brand, which sells handbags made in Africa. She said 85% of her sales so far this year have come from Facebook.
3. #BANK OF AMERICA :- Bank of America Corp cut some of its staff in the global banking and markets division this week, Bloomberg News reported on Thursday.
Employees in sales and trading, research, investment banking and capital markets were affected by the move, the report said, citing two people familiar with the matter.
The staff reduction is part of Wall Street's typical practice of staffing changes around this time of the year after bonuses are distributed, the report added.
Bank of America did not immediately respond to Reuters' request for comment.
Last year, the bank had said it would not cut any jobs in 2020.
4.#APPLE :-Target Corp Said on Thursday it would double Apple Inc's footprint in some of its stores and expand online offerings, as the big box retailer beefs up its strategy to house popular brands at its outlets to woo more customers.
Target said the expanded partnership with Apple would begin rolling out this month, with additional locations scheduled to do so by the end of this fall.
1.#TWITTER - Twitter Inc said on Thursday it expected to double annual revenue to at least $7.5 billion and reach 315 million users in 2023, sending its shares up more than 8%.
Twitter will boost its new features to increase revenue and users, it said ahead of its investor presentation on Thursday.
The social media network has struggled to catch up with larger rivals like Facebook and smaller viral apps like ByteDance's TikTok in offering features. But in recent months, it has made a push to launch services such as audio-chat, similar to that of viral app Clubhouse.
"We know we've been slow," said Chief Executive Jack Dorsey during Twitter's virtual investor day. "When you compare us with our peers, it's been especially stark."
In a regulatory filing, Twitter estimated reaching at least 315 million monetizable daily active users (mDAU), or those who see ads, by the fourth quarter of 2023.
Internationally, Twitter faces challenges in India, a rapidly growing market with plans to require that social media companies erase certain content and coordinate with law enforcement.
Twitter had previously refused to delete content connected to farmers' protests in India.
2. #FACEBOOK:-Facebook Incon Thursday launched a campaign to explain to users how small businesses depend on personalized advertising, ahead of upcoming plans by Apple Inc to prompt iPhone users to allow apps to use their data for ads.
The campaign called "Good Ideas Deserve To Be Found" highlights several advertisers that have grown their business on Facebook and Instagram, such as Houston-based fashion brand House of Takura. A commercial will air on TV, including during the Golden Globe Awards this Sunday, Facebook said.
The campaign to convince users to warm up to ads comes as Facebook, which faces several U.S. antitrust lawsuits, has accused Apple of anti-competitive behavior in using its control of the App Store to limit app developers' collection of user data from other apps.
Facebook's ad spending behind the campaign is in the millions of dollars, according to a source familiar with the matter.
Facebook generates revenue from ads and through fees for businesses using a feature that lets customers purchase directly within Facebook and Instagram. Facebook said it will continue to waive those fees through June.
The social media giant said Thursday it will launch an Instagram sticker and Facebook hashtag "DeserveToBeFound" to let small businesses share and publicize their offerings across the platforms.
It will also simplify its Ads Manager, a self-serve tool that lets brands buy and create Facebook ads, to make it easier for small businesses to use.
Annette Njau, founder of House of Takura, said personalized ads have been essential to expanding her brand, which sells handbags made in Africa. She said 85% of her sales so far this year have come from Facebook.
3. #BANK OF AMERICA :- Bank of America Corp cut some of its staff in the global banking and markets division this week, Bloomberg News reported on Thursday.
Employees in sales and trading, research, investment banking and capital markets were affected by the move, the report said, citing two people familiar with the matter.
The staff reduction is part of Wall Street's typical practice of staffing changes around this time of the year after bonuses are distributed, the report added.
Bank of America did not immediately respond to Reuters' request for comment.
Last year, the bank had said it would not cut any jobs in 2020.
4.#APPLE :-Target Corp Said on Thursday it would double Apple Inc's footprint in some of its stores and expand online offerings, as the big box retailer beefs up its strategy to house popular brands at its outlets to woo more customers.
Target said the expanded partnership with Apple would begin rolling out this month, with additional locations scheduled to do so by the end of this fall.