|Bid||0.00 x 4000|
|Ask||0.00 x 800|
|Day's Range||38.43 - 38.99|
|52 Week Range||26.01 - 42.00|
|Beta (3Y Monthly)||1.22|
|PE Ratio (TTM)||14.90|
|Earnings Date||Oct 23, 2019|
|Forward Dividend & Yield||0.56 (1.48%)|
|1y Target Est||42.24|
(Bloomberg) -- Facebook Inc.’s effort to create a cryptocurrency was dealt a blow on Friday after several key partners, including Mastercard Inc., Visa Inc., EBay Inc., Stripe Inc. and Mercado Pago, abandoned the project. The defections followed fierce criticism from global regulators and lawmakers, and have prompted some industry-watchers to question whether the Libra program can survive.The news comes days before the Libra Association, the group that will oversee the digital currency, prepares to convene its members and ask them to sign a charter agreement. The meeting is slated to take place on Monday in Geneva. A Libra Association spokeswoman said on Friday that the gathering will proceed as planned, and that it would announce the first list of official partners once a formal charter is signed.In a statement, the spokeswoman said the group was "focused on moving forward and continuing to build a strong association" as it worked to create "a safe, transparent, and consumer-friendly implementation of a global payment system that breaks down financial barriers for billions of people."When Facebook launched plans for Libra in June, a critical part of its pitch was that major players in the payments and tech industry were supporting it. The cryptocurrency would be run out of Geneva by the organizations that comprised the Libra Association, not solely by Facebook. But now that that alliance appears to be eroding, the project’s future is uncertain."I don’t think Facebook can do this by itself," said Michael Pachter, an analyst for Wedbush Securities told Bloomberg TV. "Short of a big bank stepping in like JPMorgan, I don’t think this could ever happen."In a tweet on Friday, David Marcus, the Facebook executive spearheading the effort, said that the exit of six partners would not derail the effort. "I would caution against reading the fate of Libra into this update," he wrote. "Change of this magnitude is hard. You know you’re on to something when this much pressure builds up."Whether or not Libra implodes, the exits highlight the extreme challenges that lie ahead for the project, which if successful could have a sweeping impact on the global financial system. "It may very well fail completely," said Lisa Ellis, an analyst at MoffettNathanson. Even if it survives, progress will take much longer and "it’s likely to fall into some level of obscurity," she added.Facebook has faced fierce backlash since the company announced plans for Libra. Politicians and regulators around the world have called on Facebook to halt its progress, and some have suggested Libra could be used for illegal money laundering or trafficking schemes.Despite the scrutiny from public officials and the exodus of partners, Facebook remains committed to Libra, according to a person familiar with the matter who asked not to be identified because they were not authorized to speak publicly. Some people inside the company think the defections are partly driven by established payments providers worrying about a new entrant encroaching on their turf, the person said.In the months since its announcement, Facebook has frequently found itself in the spotlight over the cryptocurrency. Marcus went to Washington in July to testify before Congress about Facebook’s plans. Later this month, Chief Executive Officer Mark Zuckerberg is scheduled to appear before the House Financial Services Committee to answer even more questions about Libra.Earlier this week, two U.S. senators cautioned Visa, Mastercard and Stripe to reconsider their involvement in the project. Senators Sherrod Brown of Ohio and Brian Schatz of Hawaii said that Libra poses a risk to not only the financial system, but the payments companies’ broader business. "We urge you to carefully consider how your companies will manage these risks before proceeding," they said a letter to the companies.Mastercard said in a statement that it will "remain focused on our strategy and our own significant efforts to enable financial inclusion around the world," adding, "We believe there are potential benefits in such initiatives and will continue to monitor the Libra effort." Visa said the company would also continue to evaluate whether to join in Libra in the future, and that the company’s "ultimate decision will be determined by a number of factors, including the Association’s ability to fully satisfy all requisite regulatory expectations."In a statement on Friday, EBay expressed its support for the project, but said it would focus on rolling out its own payments products. “We highly respect the vision of the Libra Association; however, eBay has made the decision to not move forward as a founding member,” an EBay spokesman wrote in the emailed statement. “At this time, we are focused on rolling out eBay’s managed payments experience for our customers."Payments giant Stripe, one of the most high-profile startups to sign onto the project, signaled it remained open to working on it in the future. “Stripe is supportive of projects that aim to make online commerce more accessible for people around the world. Libra has this potential,” said a company spokesperson. “We will follow its progress closely and remain open to working with the Libra Association at a later stage.”The Libra Association is composed of about two dozen organizations, including Facebook. A Lyft Inc. spokeswoman confirmed on Friday that the ride-hailing company remains a member. Other companies that have not signaled plans to leave include Uber Technologies Inc., Spotify Technology S.A., Coinbase Inc. and telecom providers Iliad SA and Vodafone Group Plc. PayPal Holdings Inc. dropped out last week. (Updates with David Marcus comment in 6th paragraph.)\--With assistance from Candy Cheng, Lizette Chapman, Spencer Soper and Lydia Beyoud.To contact the reporters on this story: Kurt Wagner in San Francisco at email@example.com;Julie Verhage in New York at firstname.lastname@example.org;Jenny Surane in New York at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Anne VanderMey, Robin AjelloFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Let's take a look at what investors need to know about Facebook and some of its Q3 estimates to help us determine if FB stock might be worth buying before the social media company reports its Q3 2019 earnings results...
EBay Inc. , Mastercard Inc. , and Stripe said Friday that they were withdrawing from Facebook Inc.'s Libra cryptocurrency project, joining PayPal Holdings Inc., which announced its plan to leave a week earlier. "Mastercard has decided it will not become a member of the Libra Association at this time," the company said in a statement. "We remain focused on our strategy and our own significant efforts to enable financial inclusion around the world." Mastercard said it would continue to monitor the progress of the Libra effort. An eBay spokesperson said that while the company respects "the vision of the Libra Association," the e-commerce giant won't be continuing as a founding member. "At this time, we are focused on rolling out eBay's managed payments experience for our customers," the spokesperson said. A Stripe representative said that the company will follow Libra's progress "closely" and it remains "open" to working with Libra in the future. Facebook has declined to comment. Facebook shares are off 8.5% over the past three months, while the S&P 500 has dropped 1%.
Facebook’s cryptocurrency project is crumbling, as partners abandon the initiative. Today (Oct. 11), eBay and Stripe became the latest members to leave the Libra Association, the group Facebook put together in June to pursue building its own global cryptocurrency. Libra has this potential.
Facebook Inc's ambitious efforts to establish a global digital currency called Libra suffered severe setbacks on Friday, as major payment companies including Mastercard and Visa Inc quit the group behind the project. The two companies announced they would leave the association Friday afternoon, as did EBay Inc, Stripe Inc. and Latin American payments company Mercado Pago. The latest exodus leaves the Libra Association without any remaining major payments companies as members, meaning it can no longer count on a global player to help consumers turn their currency into Libra and facilitate transactions.
The two companies announced they would leave the association Friday afternoon, as did EBay Inc, Stripe Inc. and Latin American payments company Mercado Pago. The latest exodus leaves the Libra Association without any remaining major payments companies as members, meaning it can no longer count on a global player to help consumers turn their currency into Libra and facilitate transactions.
The past trend shows that holiday season shopping euphoria is losing its craze, per Coresight. These retail ETFs may be hit hard if that be the case.
Facebook's fledgling cryptocurrency Libra just received a slew of bad news Friday afternoon as Visa, , Mastercard , Stripe and eBay announced that they are all withdrawing from the Libra Association. The announcements come just one week after PayPal announced that it was stepping away from its involvement with Libra. This week, Senators Sherrod Brown (D-OH) and Brian Schatz (D-HI) sent letters to Stripe, Mastercard and Visa urging the companies to reconsider their involvement with the Libra Association.
Five companies, led by Mastercard, Visa and eBay, pulled out of Facebook’s planned digital currency Libra on Friday, following sustained political pressure and just days before the project’s backers are due to meet for their first board meeting.
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing more than 730 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of June […]
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of eBay, Inc. New York, October 10, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of eBay, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
On our flight to New York on Saturday, FT Alphaville read The Great Beanie Baby Bubble by Zac Bissonnette in between watching Joseph L. Mankiewicz’s All About Eve. Never one to avoid drawing parallels with current market events, FT Alphaville thought it was worth sharing just a few snippets from the book which speak to the anatomy of a bubble and, just how bonkers the entire episode was. For those unfamiliar with the story, Beanie Babies -- limited edition floppy $5 toys created by eponymous company Ty -- became the dotcom stock of the soccer mom world in the second half of the 1990s.
The National League Division Series returns to SunTrust Park for a do-or-die elimination game after the Atlanta Braves fell to the St. Louis Cardinals 5-4 Monday night. The Braves haven’t played a game of this magnitude in over a decade, and the ticket prices are reflecting that. As of Monday night, the cheapest ‘all-in’ ticket to Wednesday night’s matchup is $76, according to New York-based online ticket seller SeatGeek.
“I think the most important thing to do now is take a step back and think about why eBay should exist,” said Faisal Masud, who worked as the company’s senior director of Global Shipping in 2011 and 2012.
In just the past few weeks, the top executives at major U.S. companies including WeWork, eBay, and Juul have left or been forced out of their posts — but they are just the latest exits in a year with an unusually high number of CEO departures.
San Jose City leaders agreed to enter a 15-year contract with eBay, agreeing to give the company a sizable chunk of the tens of millions of dollars that a new state law is expected to bring to San Jose every year.
Facebook's Mark Zuckerberg and Devin Wenig, the now-former CEO of eBay, provided something that's become rare — an honest assessment of what's on their minds.
E-commerce consultant Rick Watson said eBay's board should consider taking the company private so it can build without the pressure of the public market.
(Bloomberg) -- Four payments companies that have joined Facebook Inc. as founding members of the Libra Association are wavering over whether to officially sign on to the cryptocurrency project, according to people familiar with the matter.Visa Inc., Mastercard Inc., PayPal Holdings Inc. and Stripe Inc. are undecided about formally signing onto Libra’s organizing charter because they’re concerned about maintaining positive relationships with regulators who have reservations about the project, the people said.Executives at the payments companies believe Facebook oversold the extent to which regulators were comfortable with the project and are concerned about the perception the social network hasn’t behaved responsibly in other areas -- such as how it has handled user data and privacy, the people said.The Libra Association is asking the 28 founding members to reaffirm their commitment to the cryptocurrency project later this month, according to three people familiar with the matter. Before Libra was unveiled, the companies signed nonbinding letters of intent to explore joining the association.David Marcus, the Facebook executive leading the Libra effort, tweeted Wednesday that the “[first] wave of Libra Association members will be formalized in the weeks to come.” Marcus said he was unaware of any current Libra partners who might abstain from officially joining the organization, but building a new global currency is “hard and requires courage.”“I can tell you that we’re very calmly, and confidently working through the legitimate concerns that Libra has raised by bringing conversations about the value of digital currencies to the forefront,“ he added.Companies that officially join the charter won’t be obligated to immediately contribute an initial $10 million required to invest in the project, according to two of the people. The option to delay the payment reflects the association’s strategy to move the Libra project forward in baby steps, the people said. That would give members more time to work out how their participation might affect the rest of their companies’ operations and regulatory obligations, they said.The signing of the charter could take place as soon as Oct. 14, three people said, and will likely happen in Switzerland, where the nonprofit organization charged with managing the Libra digital currency reserve and global payments network would be headquartered.“Nothing has changed with our involvement with Libra since we came on to participate,” said a Stripe spokesman. “We agreed to work on the charter with these other participants. We continue to work on the charter. We’re still actively involved.” He declined to comment specifically on whether Stripe has hesitations about signing the charter.Spokesmen for Facebook, Visa, Mastercard, PayPal and the Libra Association declined to comment.The move to get Libra members to formally sign on is the latest indication that Facebook and its partners are pushing forward with the controversial plan, even after it came under fire from policy makers around the world.Facebook has said repeatedly that the Libra Association will be responsible for making decisions about the currency, so its formal creation could mean that regulators start to get better answers than Facebook has offered so far.Some European finance ministers have threatened to ban Libra in their respective countries and the European Union’s antitrust chief says she’s taken the unusual step of scrutinizing Libra because of the risk it could lead to the creation of a new, entirely separate economy.Meanwhile, development of the technology to underpin Libra is moving faster than internal deadlines, Diogo Monica, co-founder of Anchorage, a technology company that safeguards cryptocurrencies, said in a phone interview. Five association members including Anchorage and Facebook’s digital wallet subsidiary Calibra are already running a test network of nodes, and sending transactions -- not done with real money for now -- to each other, he said.Libra has started addressing regulators’ concerns by making tweaks to its technology and policies, such as its anti-money-laundering policies, Monica added. Hundreds of organizations are on a waiting list hoping to join the association, Monica said, but no additional members have been admitted yet, he said.Opponents of the plan say Libra, which would be backed by a pool of traditional currencies, could undercut countries’ monetary policies or be used for nefarious purposes. U.S. lawmakers this summer grilled Marcus, questioning whether Facebook could be trusted to expand into financial services. Facebook Chief Executive Officer Mark Zuckerberg last month told senators that the currency wouldn’t launch anywhere in the world without U.S. regulators’ blessing.Facebook announced the project in June to make international payments as simple as texting. It draws on big names in the payments, technology, telecom and blockchain industries, including EBay Inc., Uber Technologies Inc., blockchain startups Coinbase Inc. and Xapo Inc., and Vodafone Group Plc, as well as venture capital companies and non-profit organizations.Why Everybody (Almost) Hates Facebook’s Digital Coin: QuickTakeEven as Facebook has publicly drawn fire, the Libra organization’s members have worked in the background to hash out details of a chartering document to formally establish the non-profit so that the group’s work to stand up the payments system can move forward.The work has proven contentious due to continued uncertainty about the regulatory implications of the project, according to two of the people.“Since June the Association has met with numerous regulators and policy makers,” said Dante Disparte, a spokesman for the Libra Association, in an email. “Additionally the group of founding members have held regular meetings to discuss appropriate regulatory requirements for operating a payment system, as well as conforming to anti-money laundering, combating the financing of terrorism, privacy and other standards.”(Updates with comment from the Libra Association in the last paragraph.)\--With assistance from Olga Kharif and Kurt Wagner.To contact the reporters on this story: Lydia Beyoud in Arlington at email@example.com;Joe Light in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Sara Forden at email@example.com, Mark Niquette, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- French President Emmanuel Macron is planning to give tax authorities the power to harvest data from Facebook, Instagram and other social media to help detect fraud.The government wants parliament to include an article in the 2020 budget law granting the new powers to officials from the tax and customs administrations. The state will also screen online market places like EBay Inc., Vinted, or Le Bon Coin as part of a trial program that is slated to run for three years.“This is not about searching your personal data,” Budget Minister Gerald Darmanin said on LCI television Wednesday. “This is about some people who are trying to dodge taxes.”He said the government was ready to see the article amended by lawmakers but he hopes it will be maintained.Macron’s administration is pushing ahead with the plan despite the objections of the national privacy regulator. The Paris-based organization said on Sept. 30 that the plan marks a step change in the government’s use of personal data.“This mechanism presents very particular challenges from the point of view of freedoms, given the impact of the mechanism on privacy and its possible effects on freedom of expression online,” it said.France is not the first country to screen social media for tax reasons. In 2018, the U.K. authorities started to gather internet data for the same purposes.Under the French plan, data will initially remain on state servers for 30 days and will be retained for up to a year where there is a suspicion of fraud, the government said Tuesday.France’s National Assembly will start reviewing the budget law on Oct. 14.To contact the reporter on this story: Helene Fouquet in Paris at firstname.lastname@example.orgTo contact the editors responsible for this story: Ben Sills at email@example.com, Geraldine AmielFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Luxury consignment shop The RealReal is partnering with famed fashion house, Burberry – its most high-profile collaboration to date – for a new promotion that could change the resale market by enticing shoppers back to Burberry stores. Yahoo Finance's Jennifer Rogers and Editor-at-Large Brian Sozzi discuss the partnership, and how Burberry's involvement lends credibility to The RealReal's business.