Aug. 27 at 1:01 PM
$META up 3% on real news, not hype.
Meta and a coalition of state AGs just settled the lawsuit over addictive app design aimed at teens. Uncertainty removed = stock rips. Market hates unresolved legal overhang more than it hates the settlement cost itself.
Rest of the tape was mixed —
$ZM cratered 7% on soft Q3 guidance (
$1.46-1.48 EPS vs
$1.50 est), while
$KSS popped 2% after raising guidance and restarting its buyback. Meanwhile hot PCE inflation data kept the broader market in check even as
$SPX and
$NDX both closed green.
Lesson for the tape: legal/regulatory clarity moves stocks as much as earnings do. Worth watching which names still have unresolved overhangs.