President Joe Biden’s address pushes bond yields higher, China’s tech giants sell off after a warning shot from Beijing, and AstraZeneca (NASDAQ:AZN)’s vaccine runs into more problems. Here’s what you need to know in financial markets on Friday, March 12th.
Poshmark (NASDAQ:POSH) shares were down 14% at $51 in Friday’s premarket trading, after releasing disappointing earnings for the final quarter of 2020 late on Thursday.
A U.S. judge dismissed large parts of a lawsuit accusing Zoom Video Communications (NASDAQ:ZM) Inc of violating users' privacy rights by sharing personal information with Facebook (NASDAQ:FB), Google (NASDAQ:GOOGL) and LinkedIn (NYSE:LNKD), and letting malevolent intruders join Zoom meetings in a practice called Zoombombing.
Meme stocks are surging one more time.
WASHINGTON - Lobbyists for Facebook (NASDAQ:FB) and Google (NASDAQ:GOOGL) threw their weight against new U.S. legislation that seeks to aid struggling news publishers by allowing them to negotiate collectively against the tech companies over revenue sharing and other deals.