Yahoo Finance's Jared Blikre breaks down the market losses heading into the closing bell, also looking at the energy sector, ARK ETF components, Chinese stocks, and semiconductors.
(Bloomberg) -- Tencent Holdings Ltd. logged its first-ever revenue decline after online advertising sales fell by a record, underscoring the extent to which China’s worsening economy is hurting its biggest corporations.The country’s most valuable company slashed 5,000 jobs or nearly 5% of its workforce -- the first quarterly drop in staffing since 2014 after layoffs rippling through the global tech sector finally hit the WeChat operator. Revenue fell a deeper-than-projected 3% to 134 billion yua
(Bloomberg) -- Tencent Holdings Ltd. reported its first quarterly drop in workforce in almost a decade, as the layoffs rippling through the global tech sector finally engulf China’s biggest social media player. The country’s most valuable company reported it employed 110,715 at the end of June, down 4.7% from the end of March in the first staffing cutback since 2014, according to its latest filing. Tencent revealed the net reduction after reporting its quarterly revenue missed estimates.China’s