Disappointing earnings and guidance from retailers Walmart and Home Depot weigh on markets, and Meta launches paid verification service. Here’s what investors need to know today.
1. Walmart and Home Depot shares retreat after earnings report
Walmart (WMT) shares are falling after the retailer reported a strong holiday quarter but its profit forecast missed estimates. Shares of Home Depot (HD) are also lower after the home accessories retailer reported weaker-than-expected fourth-quarter sales and issued a subdued outlook. Other companies reporting earnings today include Medtronic, Palo Alto Networks and Molson Coors Beverage.
2. Meta launches a paid verification service
Meta Platforms has announced that it is testing a monthly subscription service called Meta Verified that will allow users to verify their accounts with a government ID and earn a blue badge. The subscription package for Instagram and Facebook will start at $11.99 per month on the web or $14.99 per month on Apple IOS and Android. The new service will primarily target content creators.
3. Google will defend a strong Internet Shield bill this week
The Supreme Court is expected to hear Google defend a strong Internet Shield law this week. The Act in question, known as Section 230it gives Internet platforms legal immunity for almost all third-party content on their sites.
4. Tesla is expected to announce a new plant in Mexico
Electric car maker Tesla is expected to choose Mexico as the location for a new plant. Chief Executive Officer Elon Musk is reportedly set to speak with Mexican President Andres Manuel Lopez Obrador this week to announce plans for the new factory.
5. Ant Man takes the top spot at the weekend box office
Disney and Marvel Ant-Man and the Wasp: Quantumania topped the weekend box office in its opening weekend with $104 million in domestic sales. Internationally, the film grossed $121 million, bringing its total to $225 million.
