$ZG

Stocks were pressured as software and tech shares fell despite expectations for strong Q2 earnings. Bloomberg Intelligence projects Q2 earnings up 23%, with AI spending driving nearly 60% of S&P 500 EPS growth. Datadog, Salesforce, Palantir, and others declined. Memory chipmakers dropped after Sandisk and Western Digital forecast weaker revenue. Rate-hike odds and bond yields also moved.

Zillow Group Inc. plans to lay off just over 500 employees, about 7% of its workforce, citing a flat housing market and a restructuring to improve efficiency. The company had 7,058 employees as of March 31 and previously cut 200 roles in January. Zillow is set to report Q2 2026 earnings Wednesday after the close. Shares were down under 1%.

Reuters, citing Google Threat Intelligence data, reports phone-based phishing and password-stealing websites used by hackers to target dozens of US financial firms and other businesses. Targets named include Blackstone, Bridgewater, Apollo, Bain Capital, KKR, TPG, CME Group, Clearlake Capital and Moody’s. Some companies reportedly paid ransoms, but Reuters could not confirm successful breaches.

Capital World Investors, a division of Capital Research and Management Company, filed a Schedule 13G stating it beneficially owns 4,323,975 shares of Zillow Group, Inc. common stock, or 10.4% of 41,402,072 shares believed outstanding. The filing says it has sole voting and dispositive power over the shares.

Capital World Investors, a division of Capital Research and Management Company, filed an amended Schedule 13G reporting beneficial ownership of 2,070,845 shares of Zillow Group Inc. common stock, or 4.9% of the class, based on 42,360,248 shares outstanding. The filing states sole voting and dispositive power and indicates the stake is 5% or less.

Google’s Threat Intelligence Group and Reuters report a five-week vishing campaign targeting employees at dozens of financial firms, including Blackstone, KKR, Apollo Global Management, and others. Attackers posed as IT help desks, used spoofed numbers and fake login pages to steal passwords and MFA codes. Demands reportedly ranged from $750,000 to $3 million, with some ransoms reportedly paid.

Google will permanently cut 52 Washington jobs, and Zillow will permanently lay off 91 Washington employees as part of broader restructurings. The article cites Microsoft, Amazon, and Meta layoffs and notes rising Seattle office vacancy and job losses. It also discusses Washington’s new 9.9% income tax on income above $1 million and related concerns for employers.

According to a lawsuit filed in the US District Court for the District of Colorado, Kenneth Brantley, a former Zillow Group Inc. employee, alleges the company discriminated against him based on age, race, and sex, and retaliated by firing him after medical leave. The filing follows other bias-related claims referenced in the article.

A former Zillow national sales manager sued Zillow in federal court in Colorado, alleging HR forwarded his confidential complaint to the manager he accused, leading to his termination a day later. The filing claims age, race, sex, and disability discrimination, retaliation, and FMLA violations, seeking back pay, front pay, and damages up to the Title VII cap of $300,000.

FactSet-reported analyst estimates for Zillow Group, Inc. show the 12-month average price target cut to $50.42 from $57.29. The range is $32 to $80. Based on the Aug. 5 close, the target implies about 40% upside. Consensus remains “Buy” with 15 Buys, 16 Holds, and 0 Sells.