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BUSINESS Saturday 22 OctOber 2022
A13

HEALTH
Social media stocks slip amid Musk, Snap news
DOCTOR ON DUTY

Oranjestad
By MICHELLE CHAPMAN
AP Business Writer Hospital 7:00 pm / 10:00pm
Shares of social media Tel. 527 4000
companies are tumbling San Nicolas
before the market open Imsan 24 hours
on Friday after a slew of Tel.524 8833
news in the sector that Women in Difficulties
concerned investors, in- PHARMACY ON DUTY
cluding a report that Elon Oranjestad:
Musk may cut almost 75% Paradera tel. 588 6638
of Twitter’s workforce and San Nicolas:
Snap’s muted fourth-quar- Seroe Preto tel. 584 4833
ter outlook. Women in Difficulties
Musk has told prospec- OTHER
tive investors in his Twitter Dental Clinic 587 9850
purchase that he plans to Blood Bank Aruba 587 0002
cut nearly 75% of Twitter’s Urgent Care 586 0448
Walk-In Doctor’s Clinic
employee base of 7,500 +297 588 0539
workers, leaving the com- Women in Difficulties
pany with a skeleton crew, EMERGENCY
according to a Thursday
report by The Washington Police 100
527 3140
Oranjestad
Post. Noord 527 3200
Wedbush’s Dan Ives said Sta. Cruz 527 2900
in a client note that Twit- The Twitter logo is seen on a mobile phone, Oct. 14, 2022, in Boston. Associated Press San Nicolas 584 5000
ter Inc. is due for some job Police Tipline 11141
cuts, but that the reported Ambulancia 911
figure may not be the best said that Snap is experi- like Twitter, TikTok, Face- on others in the sector as Fire Dept. 115
582 2219
Red Cross
approach. encing weaker demand book and YouTube say well, including Google par-
“Musk cannot cut his way due to macro pressures, they’ve expanded their ent Alphabet Inc., off 2%, TAXI SERVICES
to growth with Twitter and platform policy changes work to detect and stop and Pinterest Inc., down Taxi Tas 587 5900
a number in the 75% zip and competition. harmful claims that could 8%.q Prof. Taxi 588 0035
code would be way too “We appreciate manage- suppress the vote or even Taxi D.T.S. 587 2300
aggressive in our opinion ment’s efforts to control lead to violent confron- Taxi Serv. Aruba 583 3232
A1 Taxi Serv.
280 2828
out of the gates,” he wrote. what they cancutting costs tations, a review of some Women in Difficulties
A Delaware judge has giv- & doubling down on more of the sites shows they’re TRAVEL INFO
en Musk and Twitter until resilient performance- still playing catchup with
Oct. 28 to work out details based adsbut trends re- 2020, when then-President Aruba Airport 524 2424
of the proposed $44 billion main choppy, and the Donald Trump’s lies about American Airlines 582 2700
deal. Otherwise, there will macro backdrop is likely the election he lost to Joe Avianca 588 0059
be a trial in November. even tougher into 2023,” Biden helped fuel an insur- Jet Blue 588 2244
Shares of Twitter dropped the note said. rection at the U.S. Capitol. Surinam 582 7896
more than 4% in premarket Adding to the mix are con- Shares of Meta Platforms Women in Difficulties
trading. cerns about the way social Inc., parent company of AID FOUNDATIONS
Elsewhere in the sector, media platforms are being Facebook, declined 4.4% FAVI- Visually Impaired
Snap Inc.’ stock slid more used as the mid-term elec- before the opening bell. Tel. 582 5051
than 28% after the compa- tions near. While platforms The flurry of news weighed Alcoholics Anonymous
ny behind Snapchat gave Tel. 736 2952
a lackluster forecast for the Narcotics Anonymous
fourth quarter and its third- Tel. 583 8989
quarter revenue missed Fundacion Contra Violencia
Wall Street’s view. Relacional Tel. 583 5400
Snap reported third-quar- Centre for Diabetes
Tel. 524 8888
ter revenue of $1.13 billion, Child Abuse Prevention
below the $1.15 billion that Tel. 582 4433
analysts polled by Zacks Quota Club Tel. 525 2672
Investment Research ex- Women in Difficulties
pected. General Info
While the Santa Monica, Phone Directory Tel. 118
California-based company
said in a letter to investors
that it wasn’t giving a for-
mal fourth-quarter outlook,
it did say that it’s highly like-
ly that year-over-year rev-
enue growth will slow dur-
ing the period. Snap said
its internal forecasts are for
year-over-year revenue
growth to be about flat.
A JPMorgan analyst note facebook.com/arubatoday/