Zoom's stock plunges as sales growth slows
CNN
Zoom Video Communications was one of the clear winners of the pandemic economy. But as more people return to the office and classroom, the company now faces a bigger challenge: living up to Wall Street's hype.
Shares of Zoom (ZM) plunged nearly 15% Tuesday morning and are now in the red for the year after the company reported results for its fiscal second quarter after the close on Monday. The numbers were good. Earnings easily beat forecasts. So did revenue, as sales topped $1 billion in a quarter for the first time. What's the problem then? Sales growth is cooling. And investors have high expectations for Zoom after the stock soared an astonishing 400% in 2020.The US began pulling military equipment and additional personnel out of Niger on Friday after waiting months for the ruling military junta to approve US military flights into the country, two sources familiar with the matter said Saturday, ahead of a September 15 withdrawal deadline agreed to by the two countries.
The judge who oversaw Donald Trump’s criminal hush money trial in New York on Friday informed the former president’s defense team and prosecutors with the Manhattan district attorney’s office that a comment was posted on the New York State Unified Court Systems’ public Facebook page last week by a poster who claimed to be a cousin of a juror, saying that Trump would be convicted.