{"id":7314,"date":"2022-07-15T14:01:10","date_gmt":"2022-07-15T06:01:10","guid":{"rendered":"https:\/\/www.syfe.com\/magazine\/?p=7314"},"modified":"2024-04-02T14:36:24","modified_gmt":"2024-04-02T06:36:24","slug":"alphabet-netflix-twitter-top-stock-movers-this-week","status":"publish","type":"post","link":"https:\/\/www.syfe.com\/magazine\/alphabet-netflix-twitter-top-stock-movers-this-week\/","title":{"rendered":"Alphabet, Netflix, Twitter: Top Stock Movers This Week"},"content":{"rendered":"\n
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US stocks finished lower on Thursday after major banks such as JPMorgan Chase and Morgan Stanley reported weaker-than-expected earnings. High inflation continued to weigh on sentiment: The US consumer price index surged to 9.1% in June, higher than the forecasted 8.8%. <\/p>\n\n\n\n

Federal Reserve officials may now weigh a 1% interest rate hike when they meet later this month to combat searing inflation. Previously, market watchers had anticipated either a 0.5% or 0.75% rate increase.<\/p>\n\n\n\n

Here are this week\u2019s top movers. <\/p>\n\n\n\n

Alphabet slows hiring <\/strong><\/strong><\/h2>\n\n\n\n

On Tuesday, Alphabet revealed that it’s slowing down the pace of hiring and investments through 2023, ahead of the current economic headwinds. Moving forward, the Google parent is said to be focusing more on engineering and technical roles while becoming more entrepreneurial. <\/p>\n\n\n\n

In the year-to-date, Alphabet\u2019s share price has fallen 24%. Despite its desirable long-term operating performance, many are concerned about its ad revenue amid the impact of a potential recession. <\/p>\n\n\n\n


Alphabet will be joining other big tech companies such as Amazon <\/a>when it conducts its first 20-for-1 stock split after market close today. Its last stock split was in March 2014.<\/p>\n\n\n\n

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Image Credit: MorningStar<\/figcaption><\/figure>\n\n\n\n

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Netflix partners with Microsoft <\/strong><\/strong><\/h2>\n\n\n\n

Shares of Netflix dipped 1% yesterday following its partnership announcement with Microsoft to build its new ad-supported subscription plan that offers consumers cheaper alternatives amid soaring inflation. <\/p>\n\n\n\n

Some analysts are speculating that Netflix might be hoping to get acquired by Microsoft considering Microsoft\u2019s lack of experience in the third-party ad tech business.<\/p>\n\n\n\n

Earlier this year, Netflix announced plans to introduce an ad-supported tier by the end of 2022 after the streaming giant saw a sharp fall in its subscriber count. Google and Comcast\u2019s NBCUniversal were in the running to partner Netflix before Microsoft won the contract. <\/p>\n\n\n\n

Twitter\u2019s legal battle with Elon Musk <\/strong><\/strong><\/h2>\n\n\n\n

Twitter shares have risen close to 13% over the past three trading sessions after it plunged on Monday when Elon Musk backed out from his $44B acquisition deal. The rebound comes after Twitter officially filed a lawsuit against Elon Musk to hold him to the buyout agreement.<\/p>\n\n\n\n

Earlier in May, Elon Musk estimated Twitter had around 20% spam accounts despite Twitter\u2019s claim of 5%. Since then, he has been demanding more accuracy on Twitter\u2019s SEC filings. <\/p>\n\n\n\n

Musk\u2019s initial buyout offer values Twitter at $54.20 a share  – a more than 30% premium over its current share price. Many speculate that Musk\u2019s termination is an attempt to void the buyout during a bear market. <\/p>\n\n\n\n

In this week\u2019s podcast episode, we discussed 5 possible ways the chaotic saga could end between the two companies and what is Twitter\u2019s outlook ahead of the legal battle with Elon Musk. <\/p>\n\n\n\n

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