FB Jun 2021 350.000 call

OPR - OPR Delayed Price. Currency in USD
0.0000 (0.00%)
As of 3:52PM EDT. Market open.
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Previous Close1.8800
Expire Date2021-06-18
Day's Range1.8700 - 1.9500
Contract RangeN/A
Open InterestN/A
  • Stocks drop after China cancels Montana farm trip
    Reuters Videos

    Stocks drop after China cancels Montana farm trip

    A slide in markets Friday, after a low-level Chinese delegation abandoned plans to visit the Montana farmland. That was enough to spark fear among investors that trade talks between the U.S. and China aren't going well, despite reassurances from President Trump, who said negotiations were ongoing. The Dow slid 159 points, while the S&P 500 and Nasdaq moved lower. It was a busy day for Facebook. CEO Mark Zuckerberg wrapped up his three-day trip to Washington, but there were few indications he won over anyone on Capitol Hill. Lawmakers are mulling over the idea of tightening the regulatory screws. Mercadien Asset Management President Ken Kamen. SOUNDBITE (ENGLISH): MERCADIEN ASSET MANAGEMENT PRESIDENT KEN KAMEN, SAYING: "Zuckerberg is on capitol hill to almost beg for the industry's benefit to start getting some regulations so they can get guardrails to know what they can and cannot do. Because now there are so many things that social media is changing in our society, in the world, in our economics, how we live or lives, and you can throw a dart and hit anything that they are doing wrong. So I think that the industry in general is looking to get some guidelines." Facebook is grappling with federal and state investigations over numerous issues ranging from anti-competitve behavior to privacy concerns. On that issue, Facebook announced it has suspended tens of thousand of apps as a result of the probe it's been conducting since the Cambridge Analytica scandal revealed it handed over users' data without permission. Walmart has decided to stop selling e-cigarettes and vaping products at its stores, according to an internal email seen by Reuters. Vaping products have come under scrutiny after reports of vaping-related illnesses and some deaths.

  • Google Pay Expands Role as Facebook and Paytm Prepare a Challenge
    Market Realist

    Google Pay Expands Role as Facebook and Paytm Prepare a Challenge

    Google announced the launch of Google Pay for businesses, a storefront feature tied to the app, and a job search feature within the Pay app.

  • DICK'S Sporting's Solid Run on the Bourses Likely to Stay

    DICK'S Sporting's Solid Run on the Bourses Likely to Stay

    DICK'S Sporting (DKS) is benefiting from its focus on merchandising strategy and omni-channel efforts. Also, the company is on track with store opening plans.

  • Financial Times

    FirstFT: Today’s top stories 

    on Friday to call for action on climate change. UN secretary-general António Guterres, who has made the climate summit his signature event, has told world leaders to leave their platitudes on climate change at the door and commit to real change.

  • MarketWatch

    Snapchat parent kept Project Voldemort dossier on how Facebook thwarted competition--WSJ

    Snapchat parent Snap Inc. is talking to federal regulators about the ways Facebook Inc. tried to thwart competition from the rival social media company, including discouraging popular account holders from referencing Snap, according to a report in The Wall Street Journal. Snap's legal team had been keeping a dossier named "Project Voldemort" about Facebook's anti-competitive tactics, the WSJ report said, citing people familiar with the project. Snap's talks with the Federal Trade Commission are part of a larger probe into Facebook's business tactics, in which the FTC has made contact with dozens of tech executives and app developers. The report cited Gene Kimmelman, a senior advisor at consumer group Public Knowledge, who said the FTC is putting together a picture of what might be a pattern of behavior to prevent competition to the core Facebook business. Facebook's stock slipped 0.1% in premarket trading while Snap shares fell 0.7%. Over the past three months, shares of Facebook slipped 0.6%, Snap rallied 17.0% and the S&P 500 has gained 1.4%.

  • Bloomberg

    No Banking Charter? No Problem. Fintechs Team Up With Small-Town Banks

    (Bloomberg) -- Customers of Square Inc., the Silicon Valley payments behemoth, might assume that the cash they send to friends on the platform is housed in a glassy building in Silicon Valley, tended to by hoodie-clad tech workers. Actually, that money is more likely to be sitting in a 117-year-old community bank in Iowa.Partnerships between high-flying tech companies and traditional banks, many of them tiny by comparison, are a key force behind the financial technology boom. Because virtually no tech companies have the license required to perform banking services, many of them partner with existing banks to offer a suite of services including checking accounts, credit cards and the back-end and regulatory work the tech companies aren’t equipped—or allowed—to handle.Now, driven by the tech industry’s thirst to jump into finance, a new crop of businesses are looking to broker the connections between tech and banks. One such business is Cambr, a little-known division of an investment company called StoneCastle, which counts Square and other fintechs as customers. StoneCastle works with more than 800 small banks, spread across the country, ready to take and hold deposits from Silicon Valley startups like Square.“Airbnb, one would argue they are one of the largest hotel chains that doesn't own a room,” said Josh Siegel, chief executive of StoneCastle Partners LLC. “Our network works in a similar way. We have an account at the bank, it's the room we rent, and we can rent it out to whoever we want.”Cambr’s service launched last year as a partnership between StoneCastle, which provides the bank connections, and digital banking platform Q2 Holdings Inc., which works on the software and programming. Square’s Cash App was one of Cambr’s first customers, Siegel said, and it has since added startups like Acorns Grow Inc., MoneyLion Inc., Qapital Inc. and robo-adviser Betterment LLC, in a recently announced deal.What Cambr aims to offer tech companies is a ready-made strategy to accept deposits that they wouldn’t otherwise have the license to handle. Here’s how it works: A tech company or startup might give Cambr as much as $100 billion of customers’ cash, and could then ask the service to spread the money around to potentially hundreds of different financial institutions. A result of spreading out the deposits is that more of the fintech’s cash is insured under the Federal Deposit Insurance Corp.’s $250,000-per-account guarantee, offering more coverage than if the money were deposited at a single institution.A Salve for Digital DisruptionThe partnership model, which has rapidly become the go-to for financial technology companies, does pose some risks for banks, particularly if fast-moving startups draw the ire of regulators, as has happened before. “The banks are the supervised entities so the buck stops with them,” said Brian Korn, partner and head of fintech practice at Manatt, Phelps & Phillips. “The regulators are waiting for situations where there’s a breakdown.”But many community banks have embraced such partnerships, seeing them as a salve in times of digital disruption. More deposits can allow small banks to grow and make more local loans. In Cedar Rapids, Iowa, the 117-year-old Lincoln Savings Bank, which works with Cambr, has boosted its revenue by partnering with fintechs, said Mike McCrary, who runs e-commerce and emerging technology for the bank. McCrary said that when Lincoln Savings Bank considered how it could best position itself for the next 10 years, fintech partnerships were an obvious answer. “In order for us to be relevant years from now, there had to be something digital,” he said. “Now we’re putting a lot of resources into this area of our business,” including, he said, building out a new team dedicated to working with tech companies.  While the partnerships have injected cash into many small banks, some industry watchers have wondered if those banks could be left in a lurch if fintechs eventually got their own banking charters. If they did, community banks could find themselves as direct competitors to tech companies, without the same digital capabilities. But so far tech companies have made scant progress toward winning banking charters, particularly as government concern over digital financial services has grown. Some members of the U.S. Federal Reserve have voiced concern over fintech’s risk management capabilities. And Facebook Inc.’s foray into cryptocurrency has drawn ire from lawmakers.One option for tech companies has been to apply for an Industrial Loan Charter, which would effectively grant them license to provide financial services. Square first applied for the charter in the fall of 2017, but its request shows no signs of being approved. Social Finance Inc. also applied for an ILC, but withdrew its application altogether.“It’s not easy to become a bank here, and we haven’t seen much traction in general with the ILC,” Matt Burton, partner at venture capital firm QED Investors, said. “What we have seen is continued demand for non-banks to offer banking solutions.”Picking PartnersPartnering with multiple small banks is just one option for fintechs. Some, like Apple Inc. which developed a credit card with Goldman Sachs Group Inc., have teamed up with one big bank instead. But there are advantages to Cambr’s many-bank strategy. Some tech companies favor “the network approach over the big bank because they can negotiate better rates because both parties are getting something they want,'' said Lindsay Davis, a senior analyst at CB Insights. Smaller banks are also more likely to play ball because they aren’t developing competing services.“For the big banks, they are optimizing for customer acquisition and cross-selling services,” Davis said. “So a tech firm getting into financial services might be cannibalizing an existing business.” Joe Yeres, Cambr’s vice president of business development, is partly responsible for brokering the connections with community institutions, and travels a few times a month to places like Waterloo, Iowa, and Kansas City, Mo., where some of the banks it works with are located. The trips were eye-opening, Yeres said.“I was born and raised in New York metro, so the whole thing is a little funny to me,” Yeres said. “I was done with one of the leads of the banking team, and we went out for drinks after work one day, and walking around Waterloo it was like this guy was the mayor, everyone knew him. It was like, ‘Wow, this is how this part of the world works.’”Eventually, Cambr has its sights set on a bigger prize: It wants to handle deposits from the tech giants, not just the startups. Many industry watchers believe large tech companies will eventually move to offer more financial services, as Apple already has with the Apple Card. But Siegel realizes that Cambr, the little-known product of the relatively little-known StoneCastle and Q2, faces some hurdles. “Do they want to take a risk on a younger platform?” he asks, and in doing so, “upset big finance, which they’ll still have to work with on some things?”Still, Siegel is pitching the titans of tech, as they continue to march deeper into the world of finance. He adds: “We've probably been out and visited with almost all of them.”To contact the author of this story: Julie Verhage in New York at jverhage2@bloomberg.netTo contact the editor responsible for this story: Anne VanderMey at avandermey@bloomberg.net, Mark MilianFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Market Exclusive

    Market Morning: Facebook Axes Apps, Fed Signals POMO, US Army Threatens Area 51 Crowd

    Facebook Tries to Rebuild Image as Privacy Defender Facebook (NASDAQ:FB) came out with a blog post late Friday about how it has suspended tens of thousands of apps by about 400 developers for inappropriately sharing data obtained from Facebook and making it publicly available without consent. “Our App Developer Investigation is by no means finished. […]The post Market Morning: Facebook Axes Apps, Fed Signals POMO, US Army Threatens Area 51 Crowd appeared first on Market Exclusive.

  • Financial Times

    How Facebook’s Libra fuelled push for central bank-run digital currencies

    When Facebook announced its plans for a private digital payment token called Libra in June, its intention was hardly to goad governments into creating a public electronic currency instead. into a technical debate previously confined to the research papers of central banks. on the need for government-issued electronic currencies, or e-cash.

  • China's Wealth Fund Is Diving Into a Crowded Pool

    China's Wealth Fund Is Diving Into a Crowded Pool

    (Bloomberg Opinion) -- The world’s second-largest sovereign wealth fund is playing a dangerous game.China Investment Corp. aims to have as much of 50% of its portfolio in alternative assets by the end of 2022. That means the $941 billion fund is diving deeper into illiquid investments including real estate, infrastructure, hedge funds and private equity just as such trades are becoming increasingly crowded. CIC will also be diminishing its exposure to public markets that have rebounded strongly this year. For all the jitters over weakening global growth and the trade war, U.S. stocks are nudging record highs again and the MSCI World Index has climbed 17% in 2019.It’s little wonder that CIC is seeking ways to juice returns. The Beijing-based fund reported a 2.35% loss on overseas investments for last year as global equity markets tumbled, according to results posted Friday. That was the fourth unprofitable year for the international portfolio since CIC’s creation in 2007, when the fund was carved out of China’s then-ballooning foreign exchange reserves.CIC already has the among the highest proportion of investments allocated to alternative assets among state-owned global money managers, according to data from Sovereign Wealth Research, a unit of  IE University in Madrid. At the end of December, the ratio stood at 44%, equal to Australia’s Future Fund. Singapore’s GIC Pte had 19% of assets in alternative investments. The share for Norway’s Government Pension Fund Global, or GPFG, was just 3%. GPFG proposed changes to its mandate last month to allow it to buy stakes in unlisted companies after missing out on investments such as Spotify Technology SA. Norway’s government has repeatedly declined to let the sovereign wealth fund, the world’s biggest, enter the global private equity market because of concerns over transparency and management costs.Every investor would like to get his or her hands on the next hot unicorn in the hope that it will turn into another Facebook Inc. or Amazon.com Inc. once it goes public. That task isn’t getting any easier, though.  The presence of behemoths such as SoftBank Group Corp.’s $100 billion Vision Fund (and a second fund of similar size) have made the competition for lucrative investments more intense. And in any case, unicorn IPOs haven’t been doing so well lately, as my colleague Tim Culpan noted earlier this year.Three years ago, CIC had 46% of its overseas portfolio in publicly traded equities and 37% in alternatives. By the end of last year, the roles had reversed, with the share in stocks down to 38%. The fund’s international portfolio accounts for 34% of its assets.The Chinese fund faces hurdles that may impede its goals. CIC has lost key managers over the past two years, undermining the talent pool that’s necessary for successful hedge-fund and private-equity investing. In addition, China’s overseas acquisitions are facing tougher scrutiny amid rising trade tensions with the U.S. Marquee acquisitions such as the $13.8 billion purchase of Blackstone Group LP’s European logistics business Logicor in 2017 are likely to be harder to come by in future.Chairman Peng Chun struck a gloomy tone in the fund’s annual report, noting that “protectionism and unilateralism will continue to spread, geopolitical conflicts will recur, trade tensions will intensify, global economic momentum will weaken” and international capital markets would become plagued with uncertainties.CIC has cited volatility for wanting to reduce its exposure to public equity markets. That overlooks the fact that stocks are at least more liquid and easier to exit. There are also questions over the fund’s timing. In 2012, CIC posted losses after the commodities cycle peaked. Back then, bulking up in fixed income would have been a better bet. This move into alternatives may be another ill-timed wager. To contact the author of this story: Nisha Gopalan at ngopalan3@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Why the FAANGs Have a Decade of Stock Growth Ahead

    Why the FAANGs Have a Decade of Stock Growth Ahead

    Tech waves tend to last 20 years, says one analyst, meaning that the FAANGs probably are only halfway through an explosive growth phase.

  • Facebook says ‘tens of thousands’ of apps suspended over privacy issues

    Facebook says ‘tens of thousands’ of apps suspended over privacy issues

    For more than a year, Facebook Inc. suspended “tens of thousands” of apps from about 400 developers that improperly pried into the personal information of its users, the company said in a blog post late Friday.

  • Apple Puts Up Fight, But FANG Internet Giants Are MIA In Stock Market Rally
    Investor's Business Daily

    Apple Puts Up Fight, But FANG Internet Giants Are MIA In Stock Market Rally

    Apple is fighting at a buy point, but Facebook, Amazon, Netflix and Google have been MIA in the current stock market rally.

  • Kiplinger

    Best and Worst States at Minting Millionaires Since the Financial Crisis

    The 10-year bull market in stocks and longest economic expansion in U.S. history have minted many a millionaire since the darkest days of the Great Recession.A decade ago, less than 1 in 20, or 4.9%, of all U.S. households were considered to be millionaires, according to Phoenix Marketing International, which tracks the affluent market. That means they held at least $1 million in investable assets, such as cash, stocks, bonds and funds, among other types of investments. Real estate such as the family home, employer-sponsored retirement plans and business partnerships don't count.Cut to today, and 6.2% of all U.S. households are millionaires. In raw numbers, the nation's ranks of millionaires grew by more than 2 million over the past 10 years.Naturally, the gains haven't been distributed evenly. Although every state and the District of Columbia has more millionaire households today than it did in 2008, some areas of the country are gaining millionaires as a percentage of total households at a much faster clip than others.Kiplinger.com annually ranks all 50 states plus Washington, D.C., by their respective concentrations of millionaires. In the most recent tally, New Jersey leapfrogged long-time leader Maryland for the top spot. Nearly 9% of New Jersey households are millionaires vs. 8.9% for Maryland, which led the country in millionaires as a percentage of households from 2011 through 2017 before slipping to fourth place.That got us thinking: How have state millionaire concentrations shifted since the financial crisis? Here, we look at the five best states that have risen through the millionaire rankings since the Great Recession ... and the five that have experienced the biggest dropoffs. SEE ALSO: 25 Small Towns With Big Millionaire Populations

  • Instagram’s algorithm favors more realistic content because that’s what people want

    Instagram’s algorithm favors more realistic content because that’s what people want

    From early on, Instagram has portrayed a world that is slightly altered, depending on the user’s mood. The advent of influencers boosted the app’s highly-edited look, bringing to feeds professional-grade photos, sculpted and meticulously posed. First came “finstas,” or “fake Instagrams,” accounts where users—mainly teens—would post more candid photographs, reflecting the messier parts of their lives.

  • Biggest Single-Day Market Cap Drops in US Stocks

    Biggest Single-Day Market Cap Drops in US Stocks

    With its market capitalization cut by $119 billion on Jul. 26, 2018, social media giant Facebook Inc. (FB) became the largest company to see a one-day decline in its stock price wipe more than $100 billion from its market cap. Facebook’s stock plummeted from $216 a share on Jul. 25, 2018, to $176 the next day. Closely following Facebook is the leading chipmaker Intel (INTC), which lost more than $90 billion on Sept. 22, 2000.

  • Snapchat's Comeback Story

    Snapchat's Comeback Story

    Snapchat is making a comeback in a big way with a resurgence in user growth and ARPU's continuing to raise.

  • Nike (NKE) Q1 2020 Earnings Preview: North America, China and More

    Nike (NKE) Q1 2020 Earnings Preview: North America, China and More

    Nike (NKE) is set to report its first-quarter fiscal 2020 financial results after the closing bell on Tuesday, September 24. So let's see what investors should expect from the sportswear powerhouse...

  • Bloomberg

    Facebook CEO Eases Tensions But Lawmakers Press on Privacy Rules

    (Bloomberg) -- Facebook Inc. Chief Executive Officer Mark Zuckerberg’s Washington charm offensive appeared to ease tensions between the social media giant and U.S. lawmakers critical of its business practices.Most lawmakers described their meetings with the CEO as productive even as they called for new regulations on tech companies that they said would improve users’ experiences and industry competition.“It was a positive and robust discussion on privacy,” Representative Greg Walden, an Oregon Republican, said Friday after his meeting. “They committed to working with the Congress on a strong, nationwide privacy law.”In addition to Walden, Zuckerberg also met on Friday with House Minority Leader Kevin McCarthy and Doug Collins, a Georgia Republican on the Judiciary Committee. He sat down with House Intelligence Chairman Adam Schiff, a California Democrat, and House Judiciary Chairman Jerry Nadler, a Democrat whose committee is investigating the technology industry.On Thursday, Zuckerberg met with President Donald Trump at the White House, according to a Facebook spokesman. Trump’s son-in-law and senior adviser, Jared Kushner, was there along with Dan Scavino, the president’s social media director, Bloomberg reported. Trump later tweeted that it was a “nice meeting.”Zuckerberg spent the past three days defending Facebook’s practices to some of his harshest critics, who say the company isn’t taking strong enough action to prevent voter manipulation on the platform ahead of the 2020 presidential election. They also criticize the company’s handling of user data and treatment of conservative voices on its platform.On Friday, Facebook announced it had suspended “tens of thousands” of third-party apps that were using the company’s developer tools as part of a review the company started following the Cambridge Analytica privacy scandal last year. In response to the growing scrutiny of its platform, Zuckerberg has called for adoption of baseline regulations governing privacy and harmful content online.The prospects that a federal privacy law will pass before the end of 2020 remain low, even though Republicans and Democrats alike say they are negotiating terms of potential legislation.Antitrust PanelZuckerberg on Friday met with Nadler of New York as the Judiciary antitrust subcommittee is investigating competition issues in the technology industry. Last week, the panel sent a letter to Facebook seeking information about its acquisitions as well as communications from Zuckerberg and other executives.Democratic Representative David Cicilline, chairman of the panel’s antitrust subcommittee, said he had a “productive meeting” with Zuckerberg.“It was an opportunity to reaffirm the bipartisan nature of the investigation -- the fact that the chairman and I and our Republican colleagues are very united in this effort,” Cicilline said. “Mr. Zuckerberg made a commitment to cooperate with the investigation.”‘A Wall’A day earlier, Zuckerberg had a testier exchange with Republican Senator Josh Hawley over his company’s record on privacy and safeguarding user data. Hawley said he told Zuckerberg that Facebook should be subject to independent audits of its content reviews and that there should be “a wall” between Facebook and its other platforms, and Zuckerberg said no.“I said to him, ‘Prove that you are serious about data, sell WhatsApp, and sell Instagram.’ That’s what they should do,” Hawley told reporters after a Thursday meeting. “I think it’s safe to say he was not receptive to those suggestions.”Zuckerberg’s visit to the capital also included a dinner on Wednesday with Virginia Senator Mark Warner, the top Democrat on the Intelligence Committee, and Senator Richard Blumenthal, a Connecticut Democrat, along with other lawmakers.The executive didn’t appear to be meeting with government officials conducting other inquiries. The Federal Trade Commission has opened an antitrust probe of the company, and New York is leading a coalition of states in a wide-ranging investigation of the social media giant. In July, Facebook agreed to pay $5 billion to settle FTC allegations it violated users’ privacy.\--With assistance from Steven T. Dennis, Billy House and Daniel Flatley.To contact the reporters on this story: Naomi Nix in Washington at nnix1@bloomberg.net;Daniel Stoller in Washington at dstoller1@bloomberg.net;Rebecca Kern in Washington at rkern21@bloomberg.netTo contact the editors responsible for this story: Sara Forden at sforden@bloomberg.net, Steve Geimann, Laurie AsséoFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • MarketWatch

    Facebook fundraising tools have raised more than $2 billion

    Facebook Inc. users have raised more than $2 billion for charitable causes since the social-media company made it possible on its platform in 2015, the company said. In a blog post Thursday, Facebook executives said the rate of fundraising has accelerated with twice as many fundraisers now as in November. About half of the money has been raised through birthday notices. Facebook shares are up 44% this year. The S&P 500 index is up 20% in 2019.

  • Why Jennifer Aniston declined my ‘Friends’ request

    Why Jennifer Aniston declined my ‘Friends’ request

    ‘Friends’ is celebrating its 25th anniversary, and the actress who played Rachel Green was way ahead of her time.

  • 3 Dividend-Paying Tech Stocks for Income Investors to Buy Right Now

    3 Dividend-Paying Tech Stocks for Income Investors to Buy Right Now

    We searched for strong tech companies that also pay a dividend, utilizing our Zacks Stock Screener. These three tech stocks should remain attractive to investors even during a potential market downturn...

  • Roku Unveils Streaming Devices Roku Express & Roku Ultra

    Roku Unveils Streaming Devices Roku Express & Roku Ultra

    Roku (ROKU) launches new devices that are expected to strengthen its footprint in the increasingly crowded video-streaming space.

  • Roku News: Why ROKU Stock Is Falling Today

    Roku News: Why ROKU Stock Is Falling Today

    Roku (NASDAQ:ROKU) news for Friday about a "Sell" rating for the stock is hitting ROKU hard.Source: Michael Vi / Shutterstock.com The sell rating for Roku stock comes from Pivotal Research analyst Jeffrey Wlodarczak. Wlodarczak only just initiated coverage of ROKU stock today and that "Sell" rating isn't doing it any facors. In that same line, a price target of $60 per share is also ill Rokus news. It sits 55% below the stock's closing price on Thursday.So why exactly is Wlodarczak so pessimistic about ROKU stock? It all comes down to competition. Roku is going to be dealing with much more of that in the near future as more and more companies announce plans for their own set-top boxes.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe problem for Roku is that is has strong competitors in the market all making announcements recently. That includes Comcast (NASDAQ:CMCSA) offering free Xfinity Flex streaming devices to internet customers. There's also concerns from recently-announced streaming efforts being made by Apple (NASDAQ:AAPL) and Facebook (NASDAQ:FB), reports CNBC. * 7 Triple-'F' Rated Stocks to Leave on the Shelf While these concerns aren't helping ROKU stock, it's worth noting that this isn't the general consensus among analysts. An average of 17 analysts are carrying an "Overweight" rating for the stock. They also have an average price target of $130.69, which is 2% below yesterday's closing price for ROKU.ROKU stock was down 18% as of Friday afternoon, but is up 311% since the start of the year.As of this writing, William White did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Triple-'F' Rated Stocks to Leave on the Shelf * 10 Excellent Stocks to Watch for 2020 and Beyond * 7 Consumer Stocks to Buy in an Uncertain Market The post Roku News: Why ROKU Stock Is Falling Today appeared first on InvestorPlace.

  • Facebook Suspended Thousands of Apps for Violating Policies

    Facebook Suspended Thousands of Apps for Violating Policies

    (Bloomberg) -- Facebook Inc. has suspended “tens of thousands” of third-party apps that were using the company’s developer tools as part of a review Facebook started following the Cambridge Analytica privacy scandal from early 2018. The number of suspended apps was at 400 in August 2018.“To date, this investigation has addressed millions of apps. Of those, tens of thousands have been suspended for a variety of reasons while we continue to investigate,” Facebook wrote in a blog post Friday. Not all of these apps were necessarily abusing or selling user data. Many were not “live” when they were suspended, and in other cases, apps were suspended after developers didn’t respond to Facebook requests for more information.Facebook started its investigation after it was revealed in early 2018 that a third-party app had collected the personal information of millions of Facebook users and sold that information to political consultancy firm Cambridge Analytica. Facebook was widely criticized for its failure to protect user privacy, and pledged to audit its developer relationships to find other potential issues. Facebook said Friday the investigation is “ongoing.”The Cambridge Analytica revelation set off what became arguably the most damaging year in Facebook’s history, which included multiple congressional hearings and a probe by the Federal Trade Commission that led to a $5 billion fine.To contact the reporter on this story: Kurt Wagner in San Francisco at kwagner71@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Molly Schuetz, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Facebook suspends tens of thousands of apps in response to Cambridge Analytica row

    Facebook suspends tens of thousands of apps in response to Cambridge Analytica row

    The suspended apps are associated with about 400 developers, Facebook said, adding that it is not necessarily an indication that these apps were posing a threat to users. The FTC privacy probe was triggered last year by allegations that Facebook violated a 2012 consent decree and inappropriately shared information of 87 million users with British political consulting firm Cambridge Analytica. Facebook has since agreed to boost safeguards on user data and has put curbs on the amount of information that third-party developers can request from platform users.