Facebook, Alphabet, Tesla: Stocks That Defined the Week
09 Gennaio 2021 - 2:43AM
Dow Jones News
By Francesca Fontana
Facebook, Alphabet, Tesla: Stocks That Defined the Week
Facebook Inc.
Facebook is putting its foot down. On Thursday, the social-media
giant banned President Trump from its platforms indefinitely in the
wake of Wednesday's attack on the U.S. Capitol by a pro-Trump mob.
Facebook and Twitter Inc. initially removed posts by the president
Wednesday and temporarily locked the accounts that had helped
propel him to power, citing the risk of violence. Facebook shares
rose 2.1% Thursday.
Slack Technologies Inc.
Slack had a tense start to the New Year. The workplace messaging
platform suffered a widespread service disruption for several hours
on Monday, as many employees returned to work for their first full
workday of the year. The company said customers experienced
problems loading channels and connecting to Slack, a service that
many employees depend upon while working from home during the
pandemic. On Dec. 14, more than a dozen of Alphabet Inc.'s Google
services, including its popular email client Gmail and YouTube,
also suffered disruptions, causing issues for workers. Slack shares
fell 0.6% Monday.
Alphabet Inc.
Organized labor now has a beachhead in Silicon Valley. In a rare
move inside America's tech epicenter, a group of employees at
Google parent Alphabet announced Monday that they had formed the
Alphabet Workers Union. The union, which will be affiliated with
Communications Workers of America Local 1400, is the first one open
to employees and contractors at any Alphabet company. Around 200
workers are backing the union, a small fraction of the tech
company's more than 132,000 employees. Members said the union's
immediate goal isn't collective bargaining or formal recognition by
Alphabet, but to allow employees to be able to speak out about the
company without facing career repercussions. Alphabet shares fell
1.4% Monday.
Tesla Inc.
Meet the new richest person in the world: Elon Musk. In claiming
the title this past week, the Tesla chief executive overtook
Amazon.com Inc. leader Jeff Bezos, thanks to a meteoric rise in the
value of the electric-car maker. His net worth totaled around $195
billion Thursday, up from roughly $30 billion a year ago and
exceeding Mr. Bezos' wealth by about $10 billion, according to the
Bloomberg Billionaires Index. Both men have seen the shares in
their companies rise sharply during the pandemic, even as the
global economy took a hit. The value of Tesla's shares added 7.9%
Thursday, enough for Mr. Musk to overtake Mr. Bezos in the wealth
ranking.
Walgreens Boots Alliance Inc.
Covid-19 fears didn't stop Walgreens customers from getting
their prescriptions near the end of 2020. The drugstore chain on
Thursday reported stronger-than-expected pharmaceutical sales in
the quarter ended Nov. 30, even as the pandemic continued to make
some consumers hesitant to visit its stores. Pharmacy foot traffic
is down as Covid-19 precautions keep seasonal flu cases down and
people skip routine medical care and in-person shopping. Walgreens
expects any gains it generates from providing Covid-19 vaccinations
to likely be offset by the effects of pandemic-related lockdowns
and restrictions. The company's quarterly results also came a day
after Walgreens agreed to sell most of its pharmacy wholesale unit
for $6.5 billion. Walgreens shares rose 5.2% Thursday.
Bed Bath & Beyond Inc.
Bed Bath & Beyond's housecleaning efforts aren't yet enough
to make it shine during the pandemic. On Thursday, the home-goods
retailer reported a drop in revenue in the most recent quarter
compared with the year-earlier period. The retailer attributed the
decline in part to permanent store closures and divestitures of
some of its brands, all part of the company's reorganization that
the pandemic accelerated. Also part of the plan is a greater
emphasis on digital sales, which surged during the quarter as
customers continue to shop from home to prevent the spread of
Covid-19. Bed Bath & Beyond shares dropped 10% Thursday.
Shopify Inc.
Looking for TrumpStore.com? You'll get an error message. Online
stores run by the Trump Organization and Trump campaign were taken
offline on Thursday by the Canadian e-commerce company Shopify
after Wednesday's riot at the U.S. Capitol. The company said that
it terminated stores affiliated with President Trump because his
comments on Wednesday violated the company's policy, which
prohibits retailers on the platform from promoting or supporting
organizations or people that promote violence. The sites sold
official Trump branded apparel, "Make America Great Again" hats and
other merchandise. Shopify shares gained 6.6% Thursday.
Write to Francesca Fontana at francesca.fontana@wsj.com
(END) Dow Jones Newswires
January 08, 2021 20:28 ET (01:28 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Grafico Azioni Slack Technologies (NYSE:WORK)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni Slack Technologies (NYSE:WORK)
Storico
Da Gen 2024 a Gen 2025