Williams-Sonoma Q1 Adj. EPS Tops Estimates
Now You Can Edit WhatsApp Messages Within 15 Minutes
WhatsApp says it has introduced a facility allowing users to edit messages for up to 15 minutes after sending them.
The feature, announced by US technology giant Meta, is already offered by competitors like Telegram and Discord. Meta’s social media platform Facebook had introduced the edit function nearly a decade ago.
“For the moments when you make a mistake, or simply change your mind, you can now edit your sent messages,” says a statement posted on WhatsApp Blog.
From correcting a spelling mistake to adding extra context to a message, all that a user need to do is long-press on a sent message and choose ‘Edit’ from the menu section.
Edited messages will display ‘edited’ alongside them, so those who are messaging are aware of the correction without showing edit history.
As with all personal messages, media, and calls, the edited messages also are protected by end-to-end encryption.
This feature has started rolling out to users globally, and will be available to WhatsApp’s 2 billion users in the coming weeks, according to the messaging service provider.
India is WhatsApp’s largest market, with an estimated 487 million users.
Shutterstock To Buy GIPHY From Meta Platforms For $53 Mln In Cash
Shutterstock, Inc. (SSTK), a provider of stock photography, said on Tuesday that it has inked a deal to acquire GIF library and search engine GIPHY, Inc. from Meta Platforms, Inc. (META), for $53 million.
Paul Hennessy CEO of Shutterstock, said: “We plan to leverage Shutterstock’s unique capabilities in content and metadata monetization, generative AI, studio production and creative automation to enable the commercialization of our GIF library as we roll this offering out to customers.”
GIPHY’s content serves as an ingredient in text- and message-based conversations on platforms such as Meta, TikTok, Twitter, and many others.
The transaction will be funded through cash-on-hand and existing revolving credit facility.
GIPHY is expected to add minimal revenue in 2023, Shutterstock said in a statement.
In connection with the transaction, expected to be closed in June, Meta is entering into an API deal to ensure continued access to GIPHY’s content across Meta’s platform.
In addition, Shutterstock said that it has maintained its full year 2023 revenue outlook of $844 million-$853 million.
GIPHY is the collection of GIFs and stickers that supplies casual conversational content.
GIPHY’s library of GIFs and stickers draws more than 1.3 billion search queries on a daily basis and serves over 15 billion daily media impressions.
Eurozone Consumer Confidence Improves Modestly
Pessimism among euro area consumers declined for a second straight month in May, but the improvement was less than expected, preliminary survey results from the European Commission showed Monday.
The seasonally adjusted flash consumer confidence rose to -17.4 from -17.5 in April. Economists had forecast a score of -17.0.
The latest reading was the strongest since February last year, when it was -9.5.
The corresponding indicator for the EU rose further, adding 0.6 percentage points to reach -18.3. The reading was the strongest in 14 months.
However, both readings remained well below their long-term average, the commission said.
The survey data was collected from May 1 to 21.
The final readings for May consumer confidence is set to be released with the monthly economic sentiment survey data on May 30.
Theralink To Be Bought By IMAC Holdings In Stock-for-stock Reverse Merger
Healthcare companies, Theralink Technologies, Inc. (THER) and IMAC Holdings, Inc. (BACK) announced on Tuesday that they have inked a deal through which Theralink will merge with a newly-formed wholly-owned unit of IMAC in a stock-for-stock reverse merger transaction.
Post transaction, Theralink will be a wholly-owned subsidiary of IMAC. The new combined company will focus on end-to-end proteomics testing, growing areas of medicine.
In the stock for stock reverse merger whereby all of Theralink’s outstanding equity interests are to be exchanged for shares of IMAC shares.
Theralink stakeholders will own around 85% of the combined company, and pre-merger IMAC equity holders are expected to own approximately 15%.
The merger is scheduled to be closed late in the third or early in the fourth quarter.
Dr. Mick Ruxin, CEO of Theralink, said: “It is anticipated that the potential merger and listing will allow the company broader access to capital, which will be invested in our business to accelerate market access and reimbursement initiatives for our clinical patient testing, expand our product offering portfolio and research initiatives, and increase our laboratory throughput…”
Williams-Sonoma Q1 Adj. EPS Tops Estimates
Luxury home furnishing retailer Williams-Sonoma Inc. (WSM) reported Tuesday first-quarter net earnings of $156.53 million or $2.35 per share, down from $254.11 million or $3.50 per share in the prior-year quarter.
Adjusted earnings for the quarter were $2.64 per share, compared to $3.50 per share last year. On average, 20 analysts polled by Thomson Reuters expected the company to report earnings of $2.37 per share for the quarter. Analysts’ estimates typically exclude one-time items.
Net revenues for the quarter decreased to $1.76 billion from $1.89 billion in the same quarter last year. Analysts had a consensus revenue estimate of $1.79 billion for the quarter.
Comparable brand revenue declined 6.0 percent.
Looking ahead to fiscal 2023, the company still expects net revenue growth in the range of -3% to +3%. The Street is looking a 4.0 percent revenue decline to $8.33 billion for the quarter.
For the long term, the company expects mid-to-high single-digit annual net revenue growth.
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