In this episode, Scott Becker breaks down the latest market trends, including tech sector struggles, major job cuts at top companies, and key movements in private equity.
Chapter 1: What are the 13 stories we are following today?
This is Scott Becker with the Becker Private Equity and Business Podcast. We come to you daily with business episodes, private equity episodes. We try and make sure you're learning, that we're learning, and a lot more. So thank you for listening. Here are the 13 stories we're following today.
Chapter 2: What trends are affecting the tech sector?
First, the markets had an up day yesterday and are a little bit down today, not as bad as they were early this morning in pre-market. Second, Google missed on revenue and cloud estimates and is now down about 8%. We'll see how that goes throughout the day.
Chapter 3: What are the major job cuts happening in top companies?
Both Google and Microsoft are finding the cloud growth slower than they had found it earlier, and that's causing some of the trouble in their profitability and their estimates and their revenues. Third, Estee Lauder, the makeup company and so forth, announced 7,000 job cuts or earnings and dropped 16% yesterday, so a tough day in the makeup world.