Meta stock plummets after weak earnings report
CBSN
Shares of Facebook's parent company Meta plummeted more than 22% after trading hours on Wednesday as the company reported lower than expected profits in the fourth quarter of 2021.
The company said it spent over $10 billion on Reality Labs in 2021, its division that is working on building and developing the Metaverse. But Meta reported $2.2 billion in revenue from the project.
Meta, which makes nearly all of its money from advertising, reported $10.3 billion in profits during the last quarter of 2021, down from $11.2 billion it made during the same three-month period in 2020.
Democrats on Capitol Hill, and sources familiar with the situation, said the White House's Department of Government Efficiency, or DOGE, has been inside the offices of the National Oceanic and Atmospheric Administration.
At least four cattle herds in Nevada have tested positive for a strain of H5N1 bird flu never before seen in cows, state agriculture officials confirmed Wednesday, and respiratory symptoms like coughing and sneezing have been reported.
In her first hours as attorney general, Pam Bondi issued a broad slate of directives that included a Justice Department review of the prosecutions of President Trump, a reorientation of department work to focus on harsher punishments, actions punishing so-called "sanctuary" cities and an end to diversity initiatives at the department.
Blake Lively faces a second defamation lawsuit after the actor alleged she was sexually harassed while making the movie "It Ends With Us" and subsequently targeted by a coordinated smear campaign.
Foodborne illness kills hundreds of Americans a year, sickens tens of millions annually, and costs billions in medical care, lost productivity and premature deaths, federal researchers said in a report.
Washington — Senate Republicans said Wednesday that they intend to move forward with their own plan to approve key components of President Trump's agenda beginning next week, as the House efforts to start the budget reconciliation process have stalled.
Washington — A federal judge in Maryland on Wednesday temporarily blocked President Trump's executive order seeking to end birthright citizenship from taking effect nationwide, becoming the second to rule against the president amid a rush of legal challenges to his directive.
Some health officials in the U.S. fear the shutdown of U.S. Agency for International Development missions may have disastrous results, as the stalling of foreign aid has forced delays in what they said was the "chaotic" early U.S. response to Uganda's swelling Ebola outbreak.
President Trump's move to tack an additional 10% tariff on U.S. imports from China could lead Mattel to hike the price of its Barbie, Hot Wheels and other toys.
Washington — President Trump on Wednesday is set to sign an executive order to ban transgender girls and women from competing on sports teams that match their gender identity, marking his latest move targeting transgender rights.
The quick-fire volley of tariffs between the U.S. and China in recent days has heightened global fears of a new trade war between the world's two largest economies. Yet while experts think the battle is likely to escalate, they also say the early skirmishes offer hope for an agreement on trade and other key issues that could head off a larger conflict.
A report produced by federal investigators with the U.S. Capitol Police revealed the number of investigations into threats against Congress and the Capitol complex surged to the second-highest number on record in 2024, amid a toxic and menacing moment in American politics.
Japanese carmaker Nissan is backing out of merger talks with rival Honda. The merger was estimated to be worth more than $50 billion.