|Day's Range||4.75 - 5.50|
Instagram filters are becoming more realistic, letting users appear to have glowing skin, long lashes, and slimmer faces. Yahoo Finance’s On The Move panel discuss how Instagram users are achieving a ‘perfect’ look.
After surviving a shakeout on China trade war headlines, Facebook stock faced another obstacle with a possible Federal Trade Commission injunction.
To get a taste of what’s coming, head to California. On Jan. 1, two new California laws will try to address some of the thorniest issues created by tech companies’ mounting power. Let’s start with AB (Assembly Bill) 5, which focuses on improving working conditions for “gig” economy workers at places like (UBER)(ticker: UBER), (LYFT) (LYFT), DoorDash, Postmates, and Instacart.
The stock market hit record highs hit record highs the China trade deal and other news easing stock market uncertainty. Adobe, Facebook, Lululemon and Tesla were key movers on news
Facebook's Libra currency gets a new competitor and banking giant ING starts to create its own cryptocurrency custodial service.
Austrian privacy activist Max Schrems' seven-year battle against Facebook reaches a crucial point on Dec. 17 when an adviser to Europe's top court will issue his view on whether tools used by companies to transfer data abroad are legal or not. At stake are standard contractual clauses used by Facebook and hundreds of thousands of companies, ranging from banks to industrial giants to carmakers, to transfer personal data to the United States and other parts of the world. Another issue is whether the EU-U.S. Privacy Shield, which came into existence in 2016 and designed to protect Europeans' personal data transferred across the Atlantic for commercial use, is lawful or not.
Facebook is seeking to combine WhatsApp, Instagram, Messenger and Facebook so that users can send messages from one app to another. The logic behind the move is to monetize the WhatsApp messaging platform which Facebook acquired for $19 billion in early 2014 and which generates zero revenue to this day, Mahaney said on CNBC's "Squawk Box" Friday.
(Bloomberg) -- Personal banking information for tens of thousands of Facebook Inc. workers in the U.S. was compromised last month when a thief stole several corporate hard drives from an employee’s car.The hard drives, which were unencrypted, included payroll data like employee names, bank account numbers and the last four digits of employees’ social security numbers, according to an email Facebook shared with staff Friday morning. The drives also included compensation information, including salaries, bonus amounts, and some equity details.In total, the drives contained personal data for about 29,000 U.S. employees who worked at Facebook in 2018, a spokeswoman confirmed. Facebook has faced several instances in recent years of exposing personal data of the social network’s users. However, the stolen drives didn’t include Facebook user data, the spokeswoman said.“We worked with law enforcement as they investigated a recent car break-in and theft of an employee’s bag containing company equipment with employee payroll information stored on it,” the spokeswoman said in a statement shared with Bloomberg. “We have seen no evidence of abuse and believe this was a smash and grab crime rather than an attempt to steal employee information.”The break-in happened on Nov. 17, and Facebook realized the hard drives were missing on Nov. 20, according to the internal email. On Nov. 29, a “forensic investigation” confirmed that those hard drives included employee payroll information. Facebook started alerting affected employees on Friday Dec. 13.The employee who was robbed is a member of Facebook’s payroll department, and wasn’t supposed to have taken the hard drives outside the office. “We have taken appropriate disciplinary action,” the spokeswoman said. “We won’t be discussing individual personnel details.”Facebook is still working with law enforcement to recover the information, though none of the hard drives have been found. In an email, Facebook encouraged employees to notify their banks and offered them a two-year subscription to an identity theft monitoring service.To contact the reporter on this story: Kurt Wagner in San Francisco at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Molly Schuetz, Lisa WolfsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
After leaving its chief operating officer position vacant for nearly a year, Salesforce fills it with this seasoned executive and bolsters its potential succession planning.
Recent reports have heightened fears that the FTC will push for Facebook to be broken up. But any such effort is by no means guaranteed to succeed...and might not be a disaster for shareholders even if it did.
BoJo Blowout, Britons Back Brexit (Again) Boris Johnson and his Tory Conservatives completely trounced Jeremy Corbyn’s Labour last night in a landslide victory that saw the Tories win the most seats since the days of Iron Lady Margaret Thatcher. With all but two seats declared, the Tories are up on 363 to Labour’s 203, an […]The post Market Morning: BoJo Brexit Blowout, Maybe China Deal, Major League Cannabis, Aramco Shenanigans appeared first on Market Exclusive.
Did China just give the markets an early Christmas present? Jim Cramer and ActionAlertsPLUS.com research analyst Zev Fima are breaking down what's moving the markets higher, including the pending trade deal with China, Costco earnings and the FTC's Facebook injunction. The Dow, Nasdaq and S&P surged on a press conference from China which reported that major progress has been made in a phase one trade deal between the U.S. and China and tariffs will be rolled back in phases.
U.S. stock futures rise as investors cheer the possibility of a near-term trade agreement between the U.S. and China and the victory for Prime Minister Boris Johnson's Conservative Party in the U.K. elections; Oracle slips after posting mixed earnings and saying it has no plans to name a co-CEO; FTC could seek injunction against Facebook.
Facebook, he was brusquely told, should be broken up. Libra, its cryptocurrency project, was being deserted by its backers and he should put it on hold until a regulatory framework was in place. Announced with a fanfare in June, Libra has rapidly become the benchmark for governments’ attitudes to crypto assets.
Tantrums, cowering staff, an aversion to written memos — two new accounts paint disturbing pictures of Donald Trump’s administration. Elsewhere, a provocative new thesis compares the EU to the doomed Roman ...
(Bloomberg) -- U.S. antitrust enforcers are considering going to court to stop Facebook Inc.’s plan to merge technology systems so that users can communicate across the company’s apps, according to a person familiar with the matter.The Federal Trade Commission is studying whether to seek a court order to block the company’s effort to enable messaging among users of WhatsApp, Instagram and Facebook Messenger, said the person, who declined to be named because the investigation is confidential.Facebook’s integration plan, announced in January, has come under criticism from those who say the move would make it harder to break up Facebook as part of any antitrust case against the company. The FTC, the U.S. Justice Department and a group of states are investigating whether Facebook has violated antitrust laws.FTC Chairman Joe Simons signaled he agreed with that view in an interview with Bloomberg in August. Asked how difficult a breakup of Facebook would be once the services had been well integrated, he said it would make the case “very messy.”“It’s hard,” he said. “It’s really hard.”Simons told Bloomberg at the time that he’s willing to go to court to seek a breakup of a tech company. Any decision by the FTC to sue would need a majority vote by the five-member commission.Facebook shares fell as much as 4% after the Wall Street Journal reported on the FTC’s deliberations. The shares fell 2.7% to $196.75 in New York.Facebook Chief Executive Officer Mark Zuckerberg wants to allow users of the messaging service on Instagram to chat with those using similar functions on WhatsApp and on the original Facebook site and app. Facebook says that would allow it to better view and control foreign election interference, the spread of terrorism and other content it deems bad. Currently users can’t communicate between services.The company has already begun to integrate messaging systems for Instagram, a photo app, with Facebook Messenger, Bloomberg has reported. The massive undertaking will stitch together the underlying technology and require corporate reorganization, but won’t change much about users’ interaction with the services.Critics including co-founder Chris Hughes have focused on Facebook’s ownership of the apps and its plans to knit them more tightly together. Such detractors have cast the integration as a source of danger to user privacy. They also say it would allow the company to further abuse its dominance and fend off enforcers’ attempts to curb its behavior.Facebook says it faces robust competition, even accounting for its ownership of the services.Many technological services are able to work together even when provided by different companies -- a concept known as interoperability. Users of Google’s email service, for instance, can easily communicate with friends who get their messages through Microsoft, and phones call one another regardless of wireless providers.Mobile chatting is not as well integrated, however. Those who study competition say that interoperability between rivals bolsters competition, but Facebook’s plan would allow the company’s apps to talk to one another rather than to outside services.The Justice Department has previously pushed back on the integration plan because it will involve encrypting Instagram and Messenger and make messages invisible to Facebook the way that already occurs on WhatsApp. The department, along with officials from Australia and the U.K., said in October that the company should pause its efforts until it can ensure lawful access to user communications. Facebook said in a letter released Tuesday that it rejected that call.The FTC’s investigation of Facebook, which became public in July, is examining in part whether the social media company’s acquisitions of Instagram and WhatsApp should be unwound even though they were previously approved by the agency.Advocates for aggressive antitrust action against Facebook, including Senator Elizabeth Warren, have argued both deals allowed Facebook to fend off emerging competition by acquiring platforms that posed a threat to its dominance. Warren has said she would seek to unwind both deals if elected president in 2020.(Updates with Facebook plan starting in fifth paragraph)\--With assistance from Kurt Wagner and Sarah Frier.To contact the reporters on this story: David McLaughlin in Washington at email@example.com;Ben Brody in Washington, D.C. at firstname.lastname@example.orgTo contact the editors responsible for this story: Sara Forden at email@example.com, Paula DwyerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Facebook stock dropped following a report the Federal Trade Commission is considering a preliminary injunction over antitrust concerns related to how its products interact with competitors.
Stocks rallied Thursday due to a familiar catalyst: positive trade talks. However, this time could be different because the U.S. and China have agreed, in principle, to Phase I of a trade deal. That accord now awaits President Donald Trump's signature.Source: Courtesy of Finviz * The S&P 500 surged 0.86% * The Dow Jones Industrial Average soared 0.79% * The Nasdaq Composite advanced 0.73% * In a case of a pleasant surprise, Cisco Systems (NASDAQ:CSCO) was one of best-performing names in the Dow today, adding an impressive 3.08%.In the first paragraph, the operative phrases are "in principle" and "awaits President Donald Trump's signature" because investors have been down this road before. Phase I of the trade deal should have been signed last month, but for a variety of reasons, that obviously didn't happen.InvestorPlace - Stock Market News, Stock Advice & Trading Tips"U.S. negotiators have reached the terms of a phase-one trade deal with China that now awaits President Donald Trump's approval, according to people briefed on the plans," reports Bloomberg. * The 10 Worst Dividend Stocks of the Decade Investors can and do have varying views on President Trump, and it is their right to do so, but regardless of one's opinion of his presidency, it's hard to argue against his shrewdness. Meaning, he's aware that we're almost in an election year and clouds created by a stormy relationship with China do more harm than good for his reelection prospects.Trump said in a tweet earlier today that both sides want the trade deal to happen. That's certainly encouraging and very likely why 25 of the Dow's 30 components were higher in late trading, one of the better ratios over the past several weeks. Bad News FirstGetting the bad news out of the way first, Boeing (NYSE:BA) was the worst offender on the Dow Jones today and the only one with a loss in the neighborhood of 1%. The company said today it has reached a $125 million with Southwest Airlines (NYSE:LUV) regarding the grounding of the 737 MAX passenger jet, but as is often the case with news on that front, there's more to the story.The more likely culprit behind Boeing's Thursday woes was Federal Aviation Administration chief Steve Dickson saying the company is giving unrealistic timelines about when the 737 MAX will be flying again.Remember, it's the FAA's call, not Boeing's, about when the plane becomes flight-ready again. Apple SurpriseIt was surprising to see Apple (NASDAQ:AAPL) scuffle on a day when positive trade news dominated the headlines, but the stock is higher by more than 3% this month and there was plenty of good news to go around today.Should President Trump quickly sign the trade deal, that means the tariffs set to go into effect on Sunday will be averted and that's positive for Apple.Those levies would have increased the price of already pricey iPhones, iPads and MacBooks by 15% at arguably the worst time of the year to raise prices on any consumer product. Cisco SurgeAs noted earlier, previously moribund Cisco was the Dow leader today on news the company is getting into the semiconductor and has already procured data-center operators, such as Microsoft (NASDAQ:MSFT) and Facebook (NASDAQ:FB), as clients.Edward Jones upgraded Cisco to "buy" from "hold," adding to the stock's Thursday upside. Jumpin' JPMorganJPMorgan Chase (NYSE:JPM) was competing with Cisco for top honors on the Dow Jones today as the largest domestic bank was flirting with gains of 3%.Tuesday after the bell, JPMorgan announced that it's making significant alterations to its wealth management businesses."JPMorgan will put its U.S. wealth management business for affluent clients, its network of financial advisors at Chase branches, and its new You Invest online brokerage all together in one unit. JPMorgan will keep its private bank for the ultra-wealthy separate," reports Barron's. Looking AheadThis is an ideal time of year to start considering sector bets for the new year and healthcare appears to merit evaluation. Today, each of the Dow's healthcare names, a group including Johnson & Johnson (NYSE:JNJ) and Pfizer (NYSE:PFE), traded higher and it appears that some market observers are bullish on blue-chip pharmaceuticals names for 2020."For Major Pharma, we remain constructive on the group and see the potential for a recovery year in 2020 after the sector underperformed the broader market in 2019," said J.P. Morgan in a note out today. Bottom Line on the Dow Jones TodaySpeaking of looking ahead, the current forecast for 2020 S&P 500 earnings per share (EPS) is pretty sturdy and implies some upside to come for stocks in the new year."For 2020, the bottom-up EPS estimate (which reflects an aggregation of the median EPS estimates for all of the companies in the index) is $178.57. If $178.57 is the final number for the year, it will mark a record-high EPS number for the index," notes FactSet research.As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 10 Worst Dividend Stocks of the Decade * 7 Game-Changing Tech Stocks to Buy Now * 5 Chinese Stocks to Buy for the Big 2020 Rebound The post Dow Jones Today: A Trade Truce Is Reached, Hopefully, Maybe appeared first on InvestorPlace.
Facebook said on Thursday it committed an initial $130 million to fund an independent oversight board, but said it would not announce its members this year, as originally expected. The board is one of Facebook's high-profile efforts to respond to criticism over how it handles problematic content and transparency around its decision-making. It also released an assessment on the human rights impacts of content decisions by the board.