Apr 22, 2020 - Economy & Business

Equity funds saw greater losses in Q1 than all of 2008

Dion Rabouin, author of Markets
Data: Lipper Refinitiv; Chart: Andrew Witherspoon/Axios

Between price declines and investor redemptions, the value of stock mutual funds and ETFs held by U.S. investors declined by $3.6 trillion during the first quarter.

Why it matters: Not only is the number a record high for a quarter, it's higher than any full year on record, according to data from Lipper Refinitiv.

By the numbers: The decline in equity fund value during the quarter is over $700 billion more than was seen in 2008 during the Great Recession.

  • The average equity fund posted a 22.3% decline during the quarter, data show.

On the other side: Institutional and retail money market funds drew $702 billion of inflows during the quarter, more than the inflows for the entire year in 2008.

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Sara Fischer, author of Media Trends
Jul 30, 2020 - Economy & Business

Facebook beats Wall Street estimates despite pandemic and boycott

Photo: Thomas Trutschel/Photothek via Getty Images

Facebook's stock was up more than 6% in after-hours trading on Thursday, after the tech giant reported strong revenue growth, despite a global ad slowdown due to the pandemic and a growing advertiser boycott.

Why it matters: Facebook's ability to beat top and bottom line revenue expectations amid the coronavirus crisis and the boycott speaks to the strength of the company's appeal to marketers despite serious challenges.

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Kyle Daly
Jul 30, 2020 - Technology

Amazon earnings blow past Wall Street expectations

Photo illustration: Omar Marques/SOPA Images/LightRocket via Getty Images

Amazon smashed top- and bottom-line analyst expectations in the second quarter, sending shares climbing in after-hours trading Thursday.

The big picture: The earnings report suggests Amazon's growth and dominance are only expanding, just as calls to rein in the company rise from Washington.

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Ashley Gold
Jul 30, 2020 - Technology

Alphabet sees first-ever revenue decline

Illustration: Lazaro Gamio/Axios

Alphabet revenue dropped 2% from last year, the company announced in second-quarter earnings Thursday, beating Wall Street expectations a day after Google CEO Sundar Pichai appeared before the House Judiciary antitrust subcommittee to face allegations of anticompetitive behavior.

Yes, but: Despite beating expectations on revenue, the company still reported its first-ever decline, thanks to a reduction in the advertising growth rate thanks to the coronavirus pandemic. Stock rose slightly in after-hours trading.

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