By Staff Reporters
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Snapchat shares tanked 30% in extended trading after the social media company told Wall Street that it would not meet revenue and profit targets this quarter.
Starbucks joins the Russian exodus as the coffee chain will fully exit the Russian market several days after McDonald’s sold its Russian business. Russia is not a significant market for Starbucks, which derives less than 1% of its revenue from its 130 locations in the country.
Conan O’Brien has sold his digital media company, Team Coco, to SiriusXM in a heavyweight deal valued around $150 million. The acquisition is further proof that companies see big money in long conversations.
T-Bond: 2.854%
Capitalism:
- Airbnb may shut down all of its mainland China listings by the summer.
- Pfizer and BioNTech said that three doses of their Covid vaccine offer strong protection for kids younger than five, and they’ll submit the data to health regulators this week. No other vaccines are authorized yet for this age group.
- Chipmaking giant Broadcom is in talks to acquire VMware in what would be among the biggest tech deals ever (nearly $60 billion, potentially).
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Filed under: Alerts Sign-Up, Glossary Terms, Investing | Tagged: Conan, covid, Pfizer, Snap, SnapChat, Starbucks, T-bonds, VMware | Leave a comment »