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    Stock Market Today: Stocks Ride Facebook's Coattails Deep Into the Red

    by Kyle Woodley Feb 03, 2022 3 minutes

    This week’s relief rally came to an abrupt stop Thursday as a few high-profile earnings reports cratered investor confidence and weighed on the major indexes.

    Front and center was Facebook parent Meta Platforms (FB, -26.4%), which suffered its largest one-day price decline following a fourth-quarter faceplant reported last night.

    Revenue of $33.7 billion beat Street expectations, but earnings of $3.67 per share missed by a wide margin. The company's first-quarter sales guidance of $27 billion to $29 billion was also shy of analysts' forecasts. Apple's) iOS privacy changes are responsible for some of FB's woes, but it has other troubles as well.

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