Shares of Marqeta Inc. were on pace to log their worst slide on record in Thursday trading after the payment-technology company disclosed several executive transitions and underwhelmed some analysts by maintaining its expectations for the back half of the year. Read More...
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Sonos Stock Plummets. People Aren’t Buying as Many Electronics as They Were.
Sonos stock slid after the producer of wireless speakers and other audio products posted weak June quarter revenue and reduced its outlook, citing the impact of a tougher macroeconomic environment. The results are consistent with recent softening sales of other consumer electronics products, including personal computers and smartphones. For the quarter, Sonos reported revenue of $371.8 million, down 1.8% from a year ago, and well below the Street consensus forecast at $423.2 million.
