Roku stock drops 25% as TVs are hard to find

Roku reported quarterly revenue that didn’t beat estimates, as the company was hit by supply chain issues that affected sales of its TVs and streaming devices, sending shares down 25% in Friday afternoon trading. The company, which has been getting a boost during the pandemic with people stuck in their homes, recently saw demand for streaming services easily with restrictions imposed to prevent the spread of COVID-19. Netflix last month forecast weak subscriber growth in the first quarter. Roku said Thursday that it expects revenue for the current quarter of…

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Blantyre, backed by Peter Thiel, fell 12% after missing earnings estimates

Palantir erred in its quarterly profit estimates and forecast weaker profit margins on Thursday, as the data-analytics software company boosted spending to rebuild its platform and support a growing business. Shares of Denver-based Palantir fell more than 12% and were the most traded across US stock exchanges, after the company said it expects an adjusted operating margin of 27% in fiscal year 2022, down from 31% in 2021. However, current quarter sales were higher than estimates after a steady stream of government contracts and a strong commercial portfolio in the…

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GM’s profit plunged 40 percent as chip shortages hampered production

Higher prices for trucks and SUVs helped General Motors make a $2.4 billion profit in the third quarter, but income was 40% less than a year ago due to a shortage of new vehicles due to a global shortage of computer chips. Profits are down from $4 billion last year as sales plummet and the company loses market share in the United States, its most profitable country. GM shares fell 5% on the news. Excluding one-time items, the company earned $1.52 per share, beating Wall Street estimates of 98 cents.…

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