The Morning Badger (2/9/2017): Twitter Disappoints Again


Twitter

Twitter Misses Its Marks Again

Twitter’s ($TWTR) stock is down by 9.24% this morning after a lackluster earnings call. While the company’s daily active users are up by 11% and their revenue is up 1% from this time last year, those numbers are not enough to please investors and analysts alike. For comparison’s sake, Twitter’s revenue was up 48% this time last year. As you probably know, the company makes most of their money through ad revenues, and if ad revenues are slowing down tremendously (which they totally are), then the company’s growth is slowing, too.

Intel Hiring Workers To…Replace Workers?

Several years ago, Intel started building a manufacturing plant in Arizona, only to pause plans for said plant in 2014. Now, the company is putting $7 billion towards finishing the plant and adding jobs in the process, something our current president spoke highly about. Unfortunately, those jobs might exist to create chips used in instances of automation, or robots used to displace/help workers. Essentially, these new Intel workers could be building their future replacements, or robots that replace other workers elsewhere. Quartz has more on Intel’s big, retooled plan and what it could really mean for American workers.

Wet Seal and BCBG Closing Stores

Wet Seal, the young women’s clothing retailer, is closing their remaining 137 stores. The California-based company will liquidate their remaining stock, and everything in their stores (and online) will sell for 40 to 60% off.

BCBG Max Azira will close 120 stores as they consider bankruptcy protection. This represents less than a third of the company’s U.S. locations, and the BCBG Macy’s mini-stores will remain open. The company laid off 123 employees last year as they continue to lose business from the H&Ms and Forever 21s of the world.