rising costs and she said russia s invasion of ukraine is to blame. one senator posed another possible reason. does corporate greed explain the broad based price increases consumers are currently facing? i guess i see the bulk of inflation as reflecting demand and supply factors. inflation is even trick lick dow trickling down to retailers. target announced that they are looking to move out of some items. and they plan to make room for items that are in demand including more groceries a everyday items. target says the move will impact its profit estimates for this year. the economic woes may soon be in store for many parts of the world, some countries struggling to avoid inflation.
that pressure. i am definitely guilty of that. let s get some of the day s other news. microsoft forecasts double digit revenue growth for the next fiscal year, driven by demand for cloud computing services, and its shares jumped about 4%. it also reported profit and revenue for its fiscal third quarter that beat wall street expectations, once again benefiting from demand for its cloud based services. another company that beat quarterly profit estimates was visa. the company said its payment volumes rose 17% in the first three months of the year partly due to a rebound in consumer spending after the easing of pandemic restrictions. the results sent visa s shares more than 5% higher in extended trading. shares in tesla slid by more 12% on tuesday, wiping over $125 billion off the electric carmaker s valuation. it came a day after the electric car maker s chief executive and largest shareholder elon musk struck a deal to buy twitter
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