FB Jun 2020 155.000 call

OPR - OPR Delayed Price. Currency in USD
35.05
-7.29 (-17.22%)
At close: 1:26PM EDT
Stock chart is not supported by your current browser
Previous Close42.34
Open42.63
Bid34.85
Ask35.50
Strike155.00
Expire Date2020-06-19
Day's Range42.34 - 42.63
Contract RangeN/A
Volume2
Open Interest867
  • Facebook reportedly knew about Cambridge Analytica scandal in September of 2015
    Yahoo Finance Video

    Facebook reportedly knew about Cambridge Analytica scandal in September of 2015

    Reports are stating that newly released documents are showing that Facebook apparently learned about the Cambridge Analytica scandal as early as September of 2015. Yahoo Finance’s On The Move panel discusses.

  • GuruFocus.com

    Michael Burry Buys 4 Stocks in Addition to GameStop

    Big Short investor also shutters former largest holding JD.com Continue reading...

  • Clarida Says Global Outlook Has Worsened: Jackson Hole Update
    Bloomberg

    Clarida Says Global Outlook Has Worsened: Jackson Hole Update

    (Bloomberg) -- Central bankers from around the world are gathering in Jackson Hole, Wyoming, for the Kansas City Federal Reserve’s annual retreat.This year’s meeting occurs against a backdrop of volatile financial markets, rising fears of recession and global trade tensions. On Friday, the trade war between the world’s biggest economies escalated further as China announced that it would levy retaliatory tariffs on another $75 billion of U.S. goods. President Donald Trump quickly tweeted that he’ll respond later in the day.Markets gyrated as the U.S.-China news unfolded and as comments emerged from Jackson Hole, headlined by Federal Reserve Chairman Jerome Powell who said the U.S. economy was in a favorable place but faced “significant risks.”Here’s a running summary of news and commentary from the gathering.Fed’s Clarida: 4:25 p.m.Federal Reserve Vice Chairman Richard Clarida says the U.S. economy is in a good place, but the global outlook has worsened and policy makers will take that into account when they meet next month.“We adjusted policy at our July meeting. We take our policy decisions one meeting at a time,” he tells CNBC in an interview at Jackson Hole. “But as we’ve indicated, we will do what we need to, to put in place the appropriate policies and we’ll act as appropriate to keep the economy in a good place.”“We run monetary policy for the U.S., but we have to take into account global developments,” he said. “They impact exports, they impact inflation, and we are going to factor that in.”BOE’s Carney: 3 p.m.A collapse of Brexit talks resulting in the U.K. leaving the European Union without a transition agreement would likely prompt the Bank of England to loosen monetary policy, Governor Mark Carney said in a speech at the symposium.Carney, who is a few months away from stepping down as BOE governor, also laid out a proposal for an overhaul of the global financial system that would eventually replace the dollar as a reserve currency with some form of global digital currency -- similar to Facebook Inc.’s proposed Libra.Read more about Carney’s remarks here.Choose a Rule: 12:55 p.m.Former Federal Reserve Economist and European Central Bank policy maker Athanasios Orphanides renewed the argument for central bankers to set interest rates by following a formulaic policy rule.“Monetary policy is most effective when it is formulated in a systematic manner, following a clearly communicated monetary policy rule,” Orphanides wrote in the third paper presented Friday at Jackson Hole.A long-time proponent of policy formulas, Orphanides argued that choosing a simple rule as a benchmark would help the Fed communicate its reasons for interest-rate movements and shield it from the perception that it was influenced by political pressure. That’s a timely point as the Fed has been under relentless pressure from Trump to slash rates.Orphanides, who is now an economics professor at MIT, recommended a so-called first-difference rule, which would adjust the benchmark interest rate according to changes in near-term projections for inflation and growth. He and New York Fed President John Williams co-authored a paper on the concept in 2002.World’s Central Bank: 11:55 a.m.Powell and his colleagues don’t want the Fed to be viewed as the world’s central bank, but their monetary policy has huge ripple effects on economies in Europe and Asia, according to the second paper presented Friday at Jackson Hole.University of Maryland economist Sebnem Kalemli-Ozcan, in a review of policy implications, found that Fed interest rate changes have “large spillover effects” on emerging markets, affecting capital flows, domestic borrowing and exchange rates.Developing countries can mitigate the impact of U.S. rate change in part by having a flexible exchange rate and by strengthening institutions to reduce corruption and ensure the rule of law, the economist wrote in the paper “U.S. Monetary Policy and International Risk Spillovers.”Riders on the Storm: 10:30 a.m.Central bankers are like “riders on the storm,” their policies buffeted by global forces beyond their control. That was the argument made in a paper by that name which was the first presented Friday at Jackson Hole.In it, economists Oscar Jorda of the San Francisco Fed and Alan Taylor of the University of California, Davis argue that central banks that ignore global interest rate trends risk generating imbalances and credit dislocations in their own economies.The research has some relevance for Fed officials today, as they struggle over what policy changes, if any, to make in response to weakening economies and falling interest rates overseas, and a rising dollar.Much of the paper deals with the so-called neutral interest rate that neither spurs nor restricts a nation’s economy.Powell Speaks: 10 a.m.Fed Chairman Jerome Powell says the U.S. economy is in a favorable place but faces “significant risks” as growth abroad slows amid trade uncertainty, keeping another rate cut on the table when officials meet next month.“We will act as appropriate to sustain the expansion, with a strong labor market and inflation near its symmetric 2% objective,” Powell said in the text of his remarks to the conference.“We have seen further evidence of a global slowdown, notably in Germany and China. Geopolitical events have been much in the news, including the growing possibility of a hard Brexit, rising tensions in Hong Kong, and the dissolution of the Italian government,” he said.Fed’s Harker: 9:45 a.m.Philadelphia Fed President Patrick Harker weighed in with the hawks in a Jackson Hole interview, saying lower rates wouldn’t boost the economy when the concern is a trade war.“Right now, we are where we need to be,” Harker told Bloomberg Television. “There are clearly downside risks to the economy. We would have to act as appropriate if those look like they are coming to fruition.”“If business investment is not being held back by the cost of capital, us reducing interest rates will have no effect,” he said. “What is holding you back is uncertainty around policy, particularly trade policy.”Fed’s Mester: 9 a.m.Federal Reserve Bank of Cleveland President Loretta Mester says she will probably favor keeping rates on hold when policy makers gather in September, but she has an “open mind” about the argument for further cuts.“At this point, if the economy continues where it is, I would probably say we should keep things where they are, but I am very attuned to the downside risks of the economy,” Mester said in interview Friday with CNBC television.Mester isn’t a voter on the Federal Open Market Committee this year. Several of the Fed’s policy makers have voiced their resistance this week to the notion that the U.S. economy needs lower interest rates.The Cleveland official told Bloomberg’s Michael McKee Friday that China’s latest plan to impose additional tariffs against the U.S. just adds to the uncertainty surrounding businesses’ plans.“If we were ever data-dependent before, we have to be uber-data dependent now,” she said.As Mester spoke from Jackson Hole, U.S. President Donald Trump resumed his tweets pressuring the Fed. He’s repeatedly called for the central bank to slash rates more aggressively.Fed’s Kaplan: 8:40 a.m.Dallas Fed President Robert Kaplan, who is not an FOMC voter this year, also sounded hesitant about cutting at the next Fed meeting, set for Sept. 17-18.“Even though I am open to an adjustment either in September or the next few meetings, I prefer not to have to make an adjustment,” he said in an interview with Bloomberg Television Friday, because it encourages risk taking.“The fulcrum or center of gravity of U.S. economic today policy is not monetary policy. It is trade uncertainty, it is probably immigration policy to some extent, it is policies that relate to improved skills training, infrastructure spending,” he said. “That is the center of gravity.”Fed’s Bullard: 8 a.m.Federal Reserve Bank of St. Louis President James Bullard said Friday that the central bank needs to take out additional “insurance” in lowering interest rates, and hinted he might be willing to support a cut larger than a quarter point.“I think there will be a robust debate about 50, so I think it’s creeping on to the table here, but obviously the markets have a base case of 25 basis points,” Bullard said in a Bloomberg TV interview with Michael McKee from Jackson Hole.Bullard said the Fed needs to be cushioning against the impact of a global manufacturing slowdown and U.S. trade war with China. He compared the situation to the mid-1990s, when a Fed led by Alan Greenspan reduced rates 75 basis points to keep the expansion going.“That’s what they did in the 1990s, I don’t know where we will end up,” Bullard said.Insurance Cut: 7:30 a.m.“How much risk are we facing from the fact that we’ve got a global manufacturing contraction going on?,” Bullard asked in an earlier interview Friday with CNBC television. “There is some downside risk, and I would like to take out more insurance against the downside risks.”One of the most dovish members of the Federal Open Market committee, Bullard said low inflation and the unusual dynamic in the U.S. Treasuries market also provide policy makers justifications to cut.“The yield curve has inverted,” he said, referring to the fact that yields on longer-dated debt have fallen below yields on short-term securities. He also noted that the federal funds rate is high relative to Treasury yields. “We have one of the higher rates on the yield curve. That is not a good place to be.”\--With assistance from Vince Golle, Michael McKee, Christopher Condon, Steve Matthews and Brian Swint.To contact the reporters on this story: Rich Miller in Jackson Hole at rmiller28@bloomberg.net;Craig Torres in Washington at ctorres3@bloomberg.netTo contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.net, Alister BullFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Apple, Silicon Valley chip stocks hammered after Trump's 'shot across the bow'
    American City Business Journals

    Apple, Silicon Valley chip stocks hammered after Trump's 'shot across the bow'

    Shares of Apple and Silicon Valley's semiconductor companies were pummeled on Friday as President Trump responded to new tariffs from China with a tweet saying he's demanding that American companies "immediately start looking for an alternative to China."

  • Facebook's $100 Million Fine Wasn't Approved Unanimously by SEC
    Bloomberg

    Facebook's $100 Million Fine Wasn't Approved Unanimously by SEC

    (Bloomberg) -- The $100 million fine that Facebook Inc. agreed to pay last month over claims that it misled investors about business risks tied to Cambridge Analytica’s use of account holders’ private data wasn’t supported by all of the members of the U.S. Securities and Exchange Commission.Robert Jackson Jr., who occupies a Democratic seat at the regulator, voted against the settlement, according to a tally of commission votes posted on the agency’s website.Key DetailsOn Thursday, a federal judge signed off on the agreement between Facebook and the SEC.The settlement was approved in a 3-1 vote, with SEC Chairman Jay Clayton and two Republican commissioners supporting it.Jackson, who was only commissioner in Democratic seat at time of the June vote, declined to comment.The SEC announced the settlement on July 24.Facebook separately agreed to pay a $5 billion penalty levied by the Federal Trade Commission in a related case stemming from data obtained by Cambridge Analytica.The FTC’s two Democratic commissioners opposed that agency’s settlement, arguing it was too weak.Read MoreFacebook to Pay $100 Million SEC Fine Over Cambridge Data UseTo contact the reporter on this story: Ben Bain in Washington at bbain2@bloomberg.netTo contact the editor responsible for this story: Jesse Westbrook at jwestbrook1@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Can Knewz by News Corp Challenge Google’s Ad Business?
    Market Realist

    Can Knewz by News Corp Challenge Google’s Ad Business?

    News Corp (NWSA), a longtime Google (GOOGL) critic, wants to take Google on in the online news distribution space. Here's how.

  • Insiders Roundup: Facebook, Avalara
    GuruFocus.com

    Insiders Roundup: Facebook, Avalara

    Largest insider trades of the week Continue reading...

  • Bitcoin review: Winklevoss twins to Wall Street — 'You've been asleep at the wheel'
    American City Business Journals

    Bitcoin review: Winklevoss twins to Wall Street — 'You've been asleep at the wheel'

    Tyler and Cameron Winklevoss argue that the retail sector remains one step ahead of financial institutions (and other top headlines) on all-things cryptocurrency.

  • Is Shopify Stock A Buy Right Now? Here's What Earnings, SHOP Charts Show
    Investor's Business Daily

    Is Shopify Stock A Buy Right Now? Here's What Earnings, SHOP Charts Show

    Shopify stock has been a huge winner in 2019. Shopify earnings are booming and the company plans to compete more with Amazon. But is SHOP stock a buy now?

  • Facebook (FB) Adds Privacy Tool; Top Analyst Remains a Bull on the Stock
    TipRanks

    Facebook (FB) Adds Privacy Tool; Top Analyst Remains a Bull on the Stock

    The company that is often criticized for generating revenue by invading user privacy is implementing new tools to protect just that — user privacy. Facebook (FB) is allowing users in Ireland, Spain and South Korea to better control the social network’s ability to track them outside the Facebook platform by launching the “Off-Facebook Activity” tool. The tool will allow users to disconnect Facebook’s tracking of users on non-Facebook sites. The move comes as Facebook looks to raise user confidence and regain trust, after a host of privacy scandals hit the company. While some are concerned about what less access over user data would mean for Facebook’s business, 5-star Suntrust analyst Youssef Squali is maintaining his Buy rating and $236 price target on the stock. Though Facebook may be in the good graces of some for the move, Squali points out that the data is disconnected but not deleted. This could be a good thing for the company — while the headline reads positive, the fine print tells investors that the business itself should not take a hit, as the company is still able to use past data to tailor ads to users. On this loophole, however, Squali says the company “appears to fall somewhat short” of CEO Mark Zuckerberg’s pledge of allowing users to “flush their history whenever they want.” Notwithstanding the fine print, Squali “believe[s] the impact of the new tools will be relatively limited” as the three countries represent only a fraction of Facebook revenue, while “a global release will take some time to happen.”But perhaps most importantly is the way in which this tool will be implemented — manually. Instead of Facebook automatically enabling the tool for its entire user base, users must manually go through the process of turning it on. So even when this is released globally, Squali believes “requiring users to go through settings options to make changes to their privacy likely increases friction enough to discourage and limit mass adoption of the new tool.” As a result, the analyst thinks, “any impact would be gradual and take place over several quarters, at the earliest.” Facebook is playing a balancing act with privacy. On the one hand, the company must regain user trust, which means limited access to data. On the other hand, investors expect the company to use data to generate revenue. The Off-Facebook Activity tool seems to accomplish both: While the headlines make it seem that Facebook is doing good, the fine print shows the company will still generate money off users, even if they decide to opt-out of tracking. All in all, the social network giant continues to be one of Wall Street's favorite stocks, even amid privacy challenges and increased scrutiny. TipRanks analysis of 36 analysts shows a consensus Strong Buy, with 33 of analysts rating the stock a Buy and only three suggesting Hold. The average price target among these analysts stands at $234.40, which represents about 31% upside from current levels. (See FB's price targets and analyst ratings on TipRanks)

  • Bloomberg

    The Patrick Byrne Show Distracted From Overstock’s Woes

    (Bloomberg Opinion) -- It’s kinda, sorta funny, I suppose, that Patrick Byrne resigned Thursday as chief executive of Overstock.com Inc. a week after issuing a bizarre press release bragging about his romantic entanglement with a Russian spy while also being involved with the “deep state” and the “Men in Black.” Just as it’s kinda, sorta funny that President Donald Trump canceled a state visit to Denmark because its prime minister told him she wouldn’t discuss his “absurd” idea of selling Greenland to the U.S.Except that Byrne (like Trump) has been prone to saying and doing unhinged things since at least the mid-2000s. What’s more, as Bloomberg Opinion’s Barry Ritholtz pointed out Thursday on Twitter, “He was a terrible CEO of a not very good company.”I began paying attention to Byrne in 2005, six years after he took over an online retailer and renamed it Overstock. That year, he held the looniest  conference call I’ve ever heard. He claimed that there was a vast conspiracy to drive down Overstock’s shares orchestrated by someone he called the “Sith Lord.” He wouldn’t name the Sith Lord, but described him as “one of the master criminals of the 1980s.” He titled the conspiracy “the Miscreants Ball.”(1)At the same time — and this is what caught my attention — Overstock filed a lawsuit against Gradient Analytics, a research firm, and Rocker Partners, a hedge fund run by David Rocker and Marc Cohodes — yes, the very same Marc Cohodes who was the subject of my columns this week about MiMedx Group Inc. — that specialized in short-selling. Byrne claimed in the lawsuit (as I wrote at the time) “that they were acting in concert to hurt the company and manipulate its stock price.”It wasn’t long before Byrne was including certain financial journalists in the conspiracy. When a television interviewer asked him if he was accusing Herb Greenberg,(2) the great former MarketWatch reporter, of “helping others front-run” the company’s stock, he replied, “That’s correct.” His “thesis” was that Greenberg was taking orders from Rocker.That wasn’t the worst of it. Byrne became convinced that an illegal practice called “naked short-selling”(3) was Wall Street’s dirty little secret, and he devoted himself to rooting it out and exposing it. (Barron’s once described naked short-selling, rather aptly, as “the grassy knoll of the equity markets, denounced by crackpots, devotees of penny stocks, and troubled companies eager to divert attention from their failings.”)Overstock’s director of communications, Judd Bagley, would “friend” Byrne’s critics on Facebook, then publish the names of their friends on a website, especially those friends who could serve as “evidence” of a conspiracy. (I’m one of the journalists this happened to.) Byrne started a conspiracy-minded website called Deep Capture, the purpose of which was to smear his critics, myself included.If the purpose of all this was to silence us, it worked. I wrote three columns about Byrne, and then moved on. So did most of the other journalists who had once covered him and Overstock. Rocker, the rare short-seller willing to talk to reporters on the record, stopped giving interviews. The journalist (and my friend and former co-author) Bethany McLean once told an interviewer that in effect, Byrne had won, because his tactics had caused his critics to stop writing about him.Since his Deep Capture days, Byrne has found a different means to distract people from Overstock’s lousy performance: In 2015, he announced the formation of a company that would issue a cryptocurrency called tZero. For a while, at least, it worked. Between July 2017 and January 2018, the Overstock share price went from around $20 to almost $87. But it couldn’t last. With the company’s free cash flow negative $168 million in 2018, and its net income negative $169 million,(4) the stock sank back down to earth, bottoming out at $9.40 a share in June.Yet when he finally stepped down, it wasn’t because the company was losing money, or because the tZero effort was faltering, or because, as usual, Byrne was too busy with his side ventures to focus on the company he was supposed to be running. It was because he wrote a bonkers press release.On Thursday evening, Byrne was interviewed by CNN’s Chris Cuomo. Byrne claimed that FBI agents — including James Comey! — had instructed him to “rekindle” his relationship with the Russian spy, Maria Butina. Later that evening, as Cuomo discussed the interview with another CNN host, Don Lemon, he defended Byrne. “He’s not some lunatic or something like that,” he said.Clearly, Cuomo should have had a seat on the Overstock board.(1) Byrne later told me that his Sith Lord conference call was “one of the 10 proudest moments of my life.”(2) Alas, Greenberg has since left financial journalism and now runs his own investment research firm, Pacific Square Research.(3) Don’t ask.(4) According to Bloomberg data.To contact the author of this story: Joe Nocera at jnocera3@bloomberg.netTo contact the editor responsible for this story: Stacey Shick at sshick@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Joe Nocera is a Bloomberg Opinion columnist covering business. He has written business columns for Esquire, GQ and the New York Times, and is the former editorial director of Fortune. His latest project is the Bloomberg-Wondery podcast "The Shrink Next Door."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • P&G Veteran’s SPAC to Merge with Digital Marketing Agency, Renamed Blue Impact
    IPO-Edge.com

    P&G Veteran’s SPAC to Merge with Digital Marketing Agency, Renamed Blue Impact

    Blank-check company Legacy Acquisition Corp. has agreed to purchase a global digital marketing company to be renamed Blue Impact Inc., clearing the way to grow organically and through M&A. Legacy, which raised $300 million almost two years ago, is led by former Procter & Gamble executive Edwin Rigaud but the new company will be […]

  • DICK'S Sporting (DKS) Beats on Q2 Earnings, Raises View
    Zacks

    DICK'S Sporting (DKS) Beats on Q2 Earnings, Raises View

    DICK'S Sporting (DKS) posts better-than-expected second-quarter fiscal 2019 results driven by solid same-store sales performance. Also, it raises its bottom-line view for fiscal 2019.

  • Survey: More than 80 percent of employees at Adobe, Intel, Cisco see cost-cutting at work
    American City Business Journals

    Survey: More than 80 percent of employees at Adobe, Intel, Cisco see cost-cutting at work

    A vast majority of employees queried at Cisco Systems and several other big Silicon Valley tech employers say they've noticed cost-cutting at work.

  • Why Is Facebook (FB) Down 9.3% Since Last Earnings Report?
    Zacks

    Why Is Facebook (FB) Down 9.3% Since Last Earnings Report?

    Facebook (FB) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • Financial Times

    More airline staff fired as Hong Kong protests enter 12th week

    At least 14 airline and airport staff in Hong Kong have been sacked and PwC, the professional services firm, has warned staff about how they publicly express political opinions, in the latest sign of the intense pressure facing companies in the city as it prepares for another weekend of protest. Hong Kong has been gripped by months of demonstrations sparked by an extradition bill that would have allowed criminal suspects to be sent to mainland China for the first time. The proposed law has been suspended but the protests have expanded, with demonstrators planning to block access to Hong Kong’s international airport on Saturday.

  • Venezuela Talks Could Impact Google and Facebook
    Market Realist

    Venezuela Talks Could Impact Google and Facebook

    This week, we learned about ongoing efforts to end the political crisis in Venezuela. We think that tech companies could benefit if the talks are successful.

  • Financial Times

    Book reviews of the week

    Other non-fiction titles go inside Kashmir and the Lyons tea empire. Meanwhile, in the world of fiction, Salman Rushdie’s Booker-longlisted novel takes us on a metafictional American road trip, and James Meek delivers a tale of plague and voyage set in the 14th century. A Don Quixote-inspired quest across America showcases Rushdie’s virtues and vices.

  • TheStreet.com

    Facebook Knew of Potential Cambridge Analytica Issues as Early as Sept. 2015

    Internal documents show Facebook employees knew that Cambridge was potentially misusing user data earlier than previously thought. Facebook says there two separate incidents, however.

  • Financial Times

    Facebook’s $100m SEC settlement failed to get unanimous approval

    Facebook’s $100m settlement with the Securities and Exchange Commission last month was opposed by the sole Democratic appointee at the regulator when it approved the deal. SEC records released on Friday showed that Robert Jackson voted against the settlement, which resolved allegations that Facebook had made misleading disclosures about the risks of user data misuse. Democratic commissioners at the FTC opposed the settlement that agency struck with the social media group, saying that the fine was insufficient to deter a company of Facebook’s size and arguing for tougher ongoing controls on the business.

  • Vijaye Raji wants Facebook's Seattle employees to be innovative
    American City Business Journals

    Vijaye Raji wants Facebook's Seattle employees to be innovative

    As Facebook’s Seattle office site lead, Vijaye Raji has helped the company grow from a small office near Pike Place Market to one of the region’s largest office occupiers with thousands of employees.

  • 10 Most-Loved Stocks in Hedge Funds: Goldman's VIP List
    Investopedia

    10 Most-Loved Stocks in Hedge Funds: Goldman's VIP List

    Goldman Sachs’ “Hedge Fund VIP List”—containing the 50 most popular stocks among hedge fund portfolios—has outperformed the broader market for the past 18 years. The Hedge Fund VIP basket has beaten the market by an average 50 bps in every quarter since 2001. The list is a tool that investors can use to “follow the smart money,” wrote Goldman’s analysts in their most recent Hedge Fund Trend Monitor report, which analyzes a group of 835 distinct hedge funds.

  • Financial Times

    Facebook in need of friends

    Facebook risks being unfriended by its digital currency partners, in the latest example of how regulatory pressures are intensifying for the social network. at least three backers of its Libra project are privately discussing how to distance themselves from the venture. Two of the founding backers told the FT they were concerned about the regulatory spotlight and were considering cutting ties. the 27 founders who plan to join Facebook on Libra are right to have qualms.