Venmo owner PayPal is one of the worst stocks of 2022
CNN
Sending money to pay for things via Venmo may be all the rage among smartphone-addicted millennials and Gen Zers. But it hasn't been enough to boost Venmo owner PayPal as of late. The digital payments giant is one of the worst performing stocks in the S&P 500 this year. Shares have plunged more than 55% so far in 2022.
PayPal (PYPL) warned back in February that its sales and new active user growth would be below forecasts. Chief financial officer John Rainey said the combination of inflationary pressures, supply chain issues and the lack of any new stimulus from the federal government was hurting consumer sentiment and spending.
PayPal will report its first quarter results after the closing bell Wednesday and investors will be looking to see if the company has any better news to share. The outlook isn't promising. Analysts are expecting fairly sluggish revenue growth — just 6% from a year ago, and year-over-year earnings are also likely to drop sharply.
Some Medicare enrollees may soon be able to access super-popular drugs for obesity under a voluntary model program, the Centers for Medicare and Medicaid Services announced Tuesday. Eligible beneficiaries will only have to pay $50 a month.
The Justice Department’s leadership asked career prosecutors in Florida Tuesday to volunteer over the “next several days” to help to redact the Epstein files, in the latest internal Trump administrationpush toward releasing the hundreds of thousands of photos, internal memos and other evidence around the late convicted sex offender Jeffrey Epstein.
The US State Department on Tuesday imposed visa sanctions on a former top European Union official and employees of organizations that combat disinformation for alleged censorship – sharply ratcheting up the Trump administration’s fight against European regulations that have impacted digital platforms, far-right politicians and Trump allies, including Elon Musk.
A Delaware state trooper was killed along with the suspected gunman Tuesday during a shooting at a motor vehicle agency near Wilmington, authorities said.
Wyoming’s lone U.S. representative is running for the U.S. Senate seat being vacated by Cynthia Lummis, who isn’t seeking re-election.
A new lawsuit filed in Washington, DC’s federal court Monday challenges the Kennedy Center board of trustees’ move to add President Donald Trump’s name to the cultural institution.
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Some staff at the Department of Veterans Affairs are finding little to be merry about after the agency said it would eliminate tens of thousands of open, unfilled positions across the country as it looks to streamline its staffing.
Former Republican Sen. Ben Sasse announced Tuesday that he’s been diagnosed with “metastasized, stage 4 pancreatic cancer, and am gonna die.”
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A 2-year-old child is among at least five people who were killed when a Mexican Navy plane carrying medical patients crashed into the waters of Galveston Bay in Texas on Monday afternoon, US Coast Guard officials say.
The Trump administration is suing the local government of Washington, DC, over its gun laws, alleging that restrictions on certain semiautomatic weapons run afoul of Second Amendment rights.