Venmo owner PayPal is one of the worst stocks of 2022
CNN
Sending money to pay for things via Venmo may be all the rage among smartphone-addicted millennials and Gen Zers. But it hasn't been enough to boost Venmo owner PayPal as of late. The digital payments giant is one of the worst performing stocks in the S&P 500 this year. Shares have plunged more than 55% so far in 2022.
PayPal (PYPL) warned back in February that its sales and new active user growth would be below forecasts. Chief financial officer John Rainey said the combination of inflationary pressures, supply chain issues and the lack of any new stimulus from the federal government was hurting consumer sentiment and spending.
PayPal will report its first quarter results after the closing bell Wednesday and investors will be looking to see if the company has any better news to share. The outlook isn't promising. Analysts are expecting fairly sluggish revenue growth — just 6% from a year ago, and year-over-year earnings are also likely to drop sharply.
A former University of Virginia student pleaded guilty Wednesday to fatally shooting three football players and wounding two other students on the Charlottesville campus in 2022.
Donald Trump is considering a right-wing media personality and people who have served on his US Secret Service detail to run the agency that has been plagued by its failure to preempt two alleged assassination attempts on Trump this summer, sources familiar with the president-elect’s thinking tell CNN.
The United States has vetoed a UN Security Council resolution that called for an immediate, unconditional and permanent ceasefire in Gaza, on the grounds it would not have secured the release of hostages.
A Democratic election official in Pennsylvania offered an impassioned apology Wednesday for claiming “precedent by a court doesn’t matter anymore in this country” to justify counting about 600 faulty ballots in defiance of state Supreme Court rulings.
On one side of the Capitol, Republican Rep. Nancy Mace vowed to “stand in the way” of Democratic Rep.-elect Sarah McBride, the first out transgender woman elected to Congress, using women’s bathrooms in the US Capitol.
President-elect Donald Trump has chosen Matthew Whitaker, who served as acting attorney general during Trump’s first term, as his pick to be US ambassador to NATO.
Police in Peru have arrested a man caught trying to leave the country with 320 tarantulas, 110 centipedes and nine bullet ants strapped to his body.
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The Biden administration has approved sending anti-personnel mines to Ukraine for the first time in another major policy shift, according to two US officials. The decision comes just days after the US gave Ukraine permission to fire long-range US missiles at targets in Russia, a shift that only occurred after months of lobbying from Kyiv.