FB2A.DE - Facebook, Inc.

XETRA - XETRA Delayed Price. Currency in EUR
179.00
-0.26 (-0.15%)
At close: 5:35PM CET
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Previous Close179.26
Open177.28
Bid179.02 x 45000
Ask179.24 x 46000
Day's Range177.02 - 179.68
52 Week Range111.10 - 188.50
Volume10,241
Avg. Volume7,397
Market Cap507.707B
Beta (3Y Monthly)1.06
PE Ratio (TTM)28.62
EPS (TTM)6.26
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Why Marc Benioff says governments are going to take action against Facebook
    Yahoo Finance Video

    Why Marc Benioff says governments are going to take action against Facebook

    Salesforce co-CEO Marc Benioff is weighing in on Facebook’s security and privacy controversies. Yahoo Finance correspondent Julia La Roche caught up with Benioff at Dreamforce in San Francisco earlier this week.

  • Reuters

    UPDATE 1-Facebook agrees to provide additional documents in California AG data privacy probe

    Facebook Inc has agreed to turn over additional documents after the California state attorney general's office went to court this month to compel the social media firm to comply with requests for information in its privacy investigation. Under a joint stipulation filed in San Francisco Superior Court this week, the company agreed by Nov. 26 to respond to some of the document requests. For California's document requests that remain in dispute, a judge will hold a hearing on Feb. 19.

  • Bloomberg

    Oracle’s Largely White Board Attracts Congressional Scrutiny

    (Bloomberg) -- Oracle Corp. should increase the racial diversity of its board, a group of U.S. lawmakers said, putting a greater spotlight on the company’s hiring and management practices.“The fact that African Americans make up 13% and Asian Americans make up 5.6% of the U.S. population but 0% of Oracle’s board and leadership team is inexcusable,” said the lawmakers in a letter dated Nov. 22 from the House Tech Accountability Caucus and Tri-Caucus, which includes the Black, Hispanic, and Asian Pacific American Caucuses.The criticism is the latest call for the second-largest software maker and its billionaire Chairman Larry Ellison to improve diversity and inclusion. Former employees and the U.S. government have sued the Redwood City, California-based company, alleging it systematically underpaid women and people of color.Thursday’s letter is the second time this year that Oracle has attracted congressional scrutiny for its diversity practices. In January, the Congressional Black Caucus and House Tech Accountability Caucus wrote a letter to the company expressing dismay about allegations of pay discrimination.The letter dated Friday was signed by Representatives Robin L. Kelly, Joaquin Castro, Karen Bass and Judy Chu, who are chairs of the various House caucuses, among other lawmakers.The Tech Accountability Caucus has previously criticized Amazon.com Inc. for its tepid record of appointing non-white people to its board, and Facebook Inc. for allowing marketers to use ethnic affinity to target ads for housing, employment or credit.Amazon has since adopted a policy pledging to consider a diverse slate of candidates for any open board seats, and added Rosalind Brewer and Indra Nooyi as directors. Facebook in 2016 updated its ad policy to disable ethnic targeting for certain ads.“We respectfully request a prompt response from Oracle Corporation regarding our diversity concerns,” according to the letter. The group requested an executive-level briefing with the Congressional Tri-Caucus to discuss the issue, but said it would otherwise accept a written response within 14 days or via a phone call. Oracle didn’t respond to a request for comment.Oracle, in a February response to the earlier congressional letter, said it wouldn’t “intentionally discriminate against women and people of color” and was committed to a diverse, nondiscriminatory work culture, according to the lawmakers.Oracle is also contending with a January lawsuit from the U.S. Department of Labor, which alleged the company short-changed female and minority workers some $400 million in wages.The allegations stem from a 2014 audit by the unit, which enforces equal pay and other non-discrimination matters for federal contractors. Records show that Oracle paid women and minority employees less than others and steered them into lower-level jobs, the department has said in court papers. It also alleged that Oracle used H-1B visas to hire scores of Asians and paid them less than employees who were U.S. citizens.In 2017, three female engineers sued Oracle, alleging underpayment as compared to male engineers completing the same tasks. An analysis conducted on their behalf showed the company paid some women about $13,000 less per year on average versus male counterparts. The plaintiffs are seeking to represent more than 4,000 similarly situated employees.Oracle has denied the allegations in both cases.(Updates to show Oracle didn’t respond to a comment request in the eighth paragraph)To contact the reporters on this story: Nico Grant in San Francisco at ngrant20@bloomberg.net;Anders Melin in New York at amelin3@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • IBD's Investing Podcast: How To Make More Money In The Stock Market With Stock Charts
    Investor's Business Daily

    IBD's Investing Podcast: How To Make More Money In The Stock Market With Stock Charts

    Investing with IBD is a weekly podcast focused on helping investors learn how to make more money in the stock market by using stock charts to find top stocks.

  • Facebook agrees to provide additional documents in California AG data privacy probe
    Reuters

    Facebook agrees to provide additional documents in California AG data privacy probe

    Facebook Inc has agreed to turn over additional documents after the California state attorney general's office went to court this month to compel the social media firm to comply with requests for information in its privacy investigation. Under a joint stipulation filed in San Francisco Superior Court this week, the company agreed by Nov. 26 to respond to some of the document requests. For California's document requests that remain in dispute, a judge will hold a hearing on Feb. 19.

  • Obama Warns Technology Has Created a More Splintered World
    Bloomberg

    Obama Warns Technology Has Created a More Splintered World

    (Bloomberg) -- Former U.S. President Barack Obama warned that technology is creating a more splintered world, fueling the disparities among wealthy and poorer nations, and people within countries.“The rise of extreme inequality both within nations and between nations that is being turbocharged by globalization and technology” is one of the biggest risks for young people, Obama said Thursday at Salesforce.com Inc.’s annual Dreamforce conference in San Francisco. “New technologies have allowed us reach. We have a global market. I can project my voice and you can take your technology to new markets. It has also amplified inequalities.”Though his successor Donald Trump has taken presidential use of Twitter to new heights, Obama has long been associated with the tech industry. His 2008 and 2012 presidential campaigns were known for their use of the internet and social media to galvanize supporters. Some of Obama’s staffers came from Silicon Valley companies, including Alphabet Inc.’s Google, and there’s a diaspora of former Obama administration officials who have worked in the tech industry since leaving the White House, including David Plouffe, formerly with Uber Technologies Inc. and Amazon.com Inc.’s top spokesman Jay Carney.Still, the 44th president talked about how the internet has helped divide American politics and society.“People remark on the polarization of our politics and rightfully so,” Obama said. “People rightfully see challenges like climate change and mass refugees and feel like things are spinning out of control. Behind that, what I see is a sense of anxiety, rootlessness and uncertainty in so many people. Some of that is fed by technology and there’s an anger formed by those technologies.”Social-media services including Facebook Inc. and Google‘s YouTube have been accused of fueling polarization with algorithms that show people news and other content that match their preconceived thinking and viewpoints.“If you watch Fox News, you live in a different reality than if you read the New York Times. If you follow one rabbit hole on YouTube or the internet, then suddenly things look completely different,” Obama said during his conversation with Salesforce co-Chief Executive Officer Marc Benioff. “We are siloing ourselves off in ways that are dangerous. I believed, and I still believe the internet can be a powerful tool for us to finally see each other and unify us, but right now it’s disappointing.”Since leaving the White House in January 2017, Obama has become a fixture on the paid-speaker circuit. Thursday’s appearance at Dreamforce is at least Obama’s second appearance at a tech event in San Francisco in the last two months. He also spoke at a Splunk Inc. conference in September.To contact the reporter on this story: Nico Grant in San Francisco at ngrant20@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew Pollack, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Bloomberg

    Google’s Micro-Targeting Ban Won’t Improve Political Ads

    (Bloomberg Opinion) -- Google says it will limit the targeting of political ads to make it harder to sneak misinformation to impressionable voters. That puts the company ahead of the pack when it comes to making the political business of big internet platforms look less threatening. But the efficiency of political micro-targeting is questionable, and Google is responding to a moral panic rather than any real danger to democracy.Since the 2016 U.S. presidential election, the public has become aware of techniques that allow advertisers to aim their messages at narrow groups of people, sliced not just by place of residence, age and sex, but also by consumer and political preferences, browsing histories, voting records and other kinds of personal data. This culminated in the Cambridge Analytica scandal in 2018, when news reports showed that the U.K.-based micro-targeting firm had improperly harvested lots of private user data from Facebook. The platforms were on the spot to do something. Twitter has banned political ads entirely, but then it didn’t sell many, anyway, serving instead as a free platform for political messages. In an op-ed in the Washington Post following Twitter’s announcement, Ellen Weintraub, chairwoman of the U.S. Federal Election Commission, called for an end to political micro-targeting instead of an ad ban. “It is easy to single out susceptible groups and direct political misinformation to them with little accountability, because the public at large never sees the ad,” she argued.That was a controversial proposal. Writing in the same newspaper, Chris Wilson, who had been responsible for digital strategy in Senator Ted Cruz’s 2016 presidential campaign (which was the first in that election to hire Cambridge Analytica), countered that micro-targeting has helped increase voter turnout and drive down advertising costs for campaigns. His suggestion was to make the targeting more transparent.Google, however, found it more expedient to go along with Weintraub’s proposal than to fight an uphill battle using Wilson’s arguments. In a blog post on Wednesday, the company said it would no longer let advertisers target messages “based on public voter records and general political affiliations (left-leaning, right-leaning, and independent).” Only basic targeting by age, gender and postal code would be allowed.This, is course, is no more than Russian trolls would have required in 2016 — as Wilson pointed out in his Washington Post op-ed. Their propaganda campaign was largely geographically targeted. There’s still no proof that micro-targeting is more effective than other forms of advertising. Academic work on the subject has tended to be rather theoretical, while experimental evidence is scarce. In a paper published this year, German researcher Lennart Krotzek concluded after an experiment matching ads to personality profiles that “candidate messages are more effective in improving a voter’s feeling toward a candidate when the messages are congruent with the voter’s personality profile, but they do not result in a higher propensity to vote for the advertised candidate.”Internet platforms have done little to further the study of political targeting.Google offers a transparency report on political ads placed on its various properties — search pages, YouTube, the sites of media partners. It says that the biggest U.S. advertiser in the last 12 months is the Trump Make America Great Again Committee, which has spent $8.5 million. The report discloses that the pro-Trump group has targeted its most recent ads at all people older than 18 throughout the U.S., but offers no clues as to whether any more precise targeting was used. That’s the case with the rest of the advertisers, too.Facebook’s transparency report is just as opaque when it comes to the precise targeting of ads by voters’ interests and political leanings.  It’s easier for Google than for Facebook to abandon precise targeting, because one of its key strengths is being able to link ads to search words. That’s a form of rather precise targeting not affected by Google’s policy change. Slicing and dicing the audience is at the heart of Facebook’s offering to advertisers, so it’s understandably hesitant to disable the feature, thought it, too, has been mulling some targeting curbs.But Facebook doesn’t have to make the sacrifice. It would make more sense to reveal exactly how each political ad is targeted — and to cooperate with researchers interested in evaluating the ads’ efficiency. Facebook has the means to deliver messages from such researchers to the target audiences, which would help them recruit subjects for experiments. Google should have done the same instead of introducing drastic curbs that probably won’t do much to raise the level of political discourse, anyway. Policymakers need data, not hype, to make informed decisions on how to regulate modern advertising.To contact the author of this story: Leonid Bershidsky at lbershidsky@bloomberg.netTo contact the editor responsible for this story: Jonathan Landman at jlandman4@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Leonid Bershidsky is Bloomberg Opinion's Europe columnist. He was the founding editor of the Russian business daily Vedomosti and founded the opinion website Slon.ru.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Loon’s autonomous balloons are bringing the internet to rural Peru
    Quartz

    Loon’s autonomous balloons are bringing the internet to rural Peru

    The Alphabet-owned company signed a deal with the Facebook-backed Internet Para Todos.

  • TheStreet.com

    [video]Facebook Mulls Tightening Its Political-Advertising Policy

    Facebook, in recent weeks feeling the backlash over its policies on political ads, is considering making changes to those policies, according to a report. Facebook shares at last check were up 0.21% on Thursday to $197.92. The Wall Street Journal reported on Thursday that Facebook is weighing expanding the targeting guidelines for political ads, to several thousand people from 100, in an effort to contain the spread of misinformation.

  • "This is corruption": Warren slams secret meeting between Trump and Zuckerberg
    CBS MoneyWatch

    "This is corruption": Warren slams secret meeting between Trump and Zuckerberg

    The Facebook CEO and one of the company's conservative board members had a previously undisclosed dinner with the president

  • Investopedia

    Tech Stocks Racing Toward Best Gains in Decade Despite Red Flags

    Tech stocks are leading the market by a wide margin in 2019, but Q3 2019 profit declines and high valuations are causes for concern.

  • Factbox: How social media services handle political ads
    Reuters

    Factbox: How social media services handle political ads

    Online platforms including Facebook and Alphabet Inc's Google face growing pressure to stop carrying political ads that contain false or misleading claims ahead of the U.S. presidential election. Facebook exempts politicians from its third-party fact-checking program, allowing them to run ads with false claims.

  • Google, Facebook at Center of Rising Political-Ad Tensions
    Bloomberg

    Google, Facebook at Center of Rising Political-Ad Tensions

    (Bloomberg) -- Facebook Inc. and Google were drawn into an escalating battle of wills Wednesday over the use of political advertising on social media.Trump campaign officials pressured Facebook to maintain its permissive political advertising rules, while Alphabet Inc.’s Google announced an overhaul of how campaigns may target their messages across the world’s largest search engine.The ability of candidates to show different messages to people based on their physical location, age, or other characteristic, referred to as micro-targeting, has become an increasing focus of the broader debate about political advertising online. Last month, Twitter Inc. said it will ban political ads on its platform altogether, and is restricting targeting for other ads related to some politically charged issues, like climate change.Google on Wednesday said it will ban candidates from targeting election ads based on people’s political affiliation, though the messages can be tailored based on gender, age and geography. The company also is eliminating a feature called Customer Match for political advertisers. The tool lets marketers upload their own lists of email addresses or phone numbers, and target ads specifically at those people.Facebook, the largest platform for online political advertising, has been under pressure to follow suit. Several prominent Democrats have attacked the company for refusing to fact-check political ads. Facebook has rebuffed those calls, saying it doesn’t want to police political speech. In October, hundreds of Facebook employees sent a letter to the company’s executives calling for new limits on ad targeting for political campaigns. The letter became public after it was obtained by the New York Times.Carolyn Everson, a Facebook vice president, said Monday at a Recode conference that the social-media company wasn’t considering changes to its targeted advertising options for political ads. Later that day, however, she told Axios, the news website, that Facebook hadn’t ruled out any specific changes, raising the prospect the company may change course and limit targeting in some way.The Trump campaign reacted directly to Everson’s comments. It sees Facebook as an essential tool for speaking directly to voters, instead of relying on critical media outlets that the president says treat him unfairly.Gary Coby, the Trump campaign’s digital director, argued on Twitter Wednesday that stopping campaigns from pairing in-house data with Facebook’s advertising tools would suppress voter engagement. “This would unevenly hurt the little guy, smaller voices, & issues the public is not aware of OR news is NOT covering,” Coby tweeted, saying it was very “dangerous” and a “huge blow to speech.”Tim Cameron, chief executive officer at FlexPoint Media, a Republican media strategy firm, said the Trump campaign is likely concerned that new restrictions could result in Facebook deciding to begin fact-checking political ads. “I think the Trump campaign is looking down the road beyond this decision and are actually more afraid of subsequent decisions that Facebook may make,” he said.Facebook hasn’t announced any changes to its policies. “For over a year, we’ve provided unprecedented transparency into all U.S. federal and state campaigns -- and we prohibit voter suppression in all ads,” a company spokesman said. “As we’ve said, we are looking at different ways we might refine our approach to political ads.”During the 2016 election, the Trump campaign ran 5.9 million different versions of ads, constantly testing them against different groups to increase engagement, according to internal Facebook documents reviewed by Bloomberg in 2018. It spent $44 million on Facebook in the six months before the 2016 election. So far in 2019, the Trump campaign has spent more than $15 million in ads, and is the largest political spender on the platform, according to Facebook’s political ad library.Before Google announced its changes, the company touted its ability to target voters based on political affiliations, like “right-leaning,” as a major selling point. “They were all heartily selling us this for years as the coolest thing since sliced bread,” said Will Ritter, the founder of Poolhouse, a political advertising firm.Google’s new restrictions mean campaigns may have to spend more after losing the ability to hit key voters, Ritter added. For instance, a candidate could identify frequent Republican voters in Democratic-heavy areas of the country, and reach them with ads on search and YouTube. Now they can’t.“It’s just going to increase costs because there’s going to be so much waste,” Ritter said.Irene Knapp, a former Google employee who now works for Tech Inquiry, a political advocacy group focused on ethical issues related to technology, said the ability to target makes online advertising particularly susceptible to abuse. Campaigns can test messages on certain audiences, find which ones resonate, then use tools provided by Facebook or Google to target those people with new ads while also reaching people with similar characteristics. Misleading messaging can be directed at specific audiences without drawing widespread attention.“You can be seeing one message that seems fine, and your next-door neighbor can be seeing some misinformation that is cleverly targeted to produce a very different response or action,” Knapp said.Knapp said Google’s Customer Match tool could be used to target racial groups, or engage in other behavior that violates the policies of the platforms. The equivalent tool on Facebook, “Custom Audiences,” still exists.(Updates with details on Google rules in the fourth paragraph.)\--With assistance from Alistair Barr.To contact the reporters on this story: Eric Newcomer in San Francisco at enewcomer@bloomberg.net;Kurt Wagner in San Francisco at kwagner71@bloomberg.net;Mark Bergen in San Francisco at mbergen10@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • PayPal to Acquire Online Coupon Site Honey for $4 Billion
    Bloomberg

    PayPal to Acquire Online Coupon Site Honey for $4 Billion

    (Bloomberg) -- PayPal Holdings Inc. will acquire Honey Science Corp. for about $4 billion, its largest-ever acquisition, adding a startup that amasses valuable data on consumer buying habits and doles out coupons for online bargains.About 17 million people use Honey apps or web browser extensions to find discounts at online shopping sites. The startup was profitable in 2018, PayPal said in a statement. Shares of the payments giant were little changed in extended trading.Honey is valued at almost twice what PayPal paid for its next-largest deal, iZettle, the Swedish provider of small-business services it purchased in 2018, and marks the first major acquisition this year. Chief Executive Officer Dan Schulman has signaled that PayPal, with more than $10 billion in cash, is on the hunt for more deals after a string of takeovers last year that included Hyperwallet and Simility.“You can expect us to be acquisitive going forward,” Schulman said on a conference call with analysts this summer. PayPal looks at hundreds of potential deals every quarter and sees them as a way to expand globally and accelerate development of new products, he said. Schulman described acquisitions as “a part of who we are on an ongoing basis.”Honey, which was founded in 2012, will keep its base in Los Angeles, and the founders will continue to run the business. The company’s services include a browser extension that automatically applies coupons at e-commerce sites. In a statement, PayPal said that Honey’s capabilities will give its customers a better shopping experience, and help merchants drive sales, partly with more timely and personalized offers.Mark Palmer, an analyst at BTIG, said the acquisition would help PayPal make “significant advances” toward becoming more relevant to users. It could also give customers and merchants a reason to choose PayPal “in the face of increasing competition from tech companies, such as Facebook Pay.”As a shopping-focused browser extension, Honey has access to large amounts of customer data. Lisa Ellis, an analyst at MoffettNathanson, said that PayPal typically uses that information for purposes like fraud prevention. She added that if there were to be a privacy issue over data at the combined company that limited its use, some abilities, like targeted offers, could be curtailed.(Updates with Honey details starting in the fifth paragraph.)To contact the reporter on this story: Julie Verhage in New York at jverhage2@bloomberg.netTo contact the editors responsible for this story: Mark Milian at mmilian@bloomberg.net, ;Tom Giles at tgiles5@bloomberg.net, Anne VanderMeyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Dow Jones Futures Fall On China Tensions; Target Spikes Higher; Pinduoduo Crashes
    Investor's Business Daily

    Dow Jones Futures Fall On China Tensions; Target Spikes Higher; Pinduoduo Crashes

    Futures fell on China tensions over Hong Kong. Pinduoduo plunged on weak results. Target spiked higher again after strong earnings.

  • Bloomberg

    Google CEO Opens New Japan Campus in Tokyo’s Trendy Shibuya District

    (Bloomberg) -- Google Chief Executive Officer Sundar Pichai was in Tokyo Tuesday to inaugurate the relocation of the company’s Japanese head office to an expansive new complex in the trendy district of Shibuya.Taking up the majority of the gleaming new 35-floor Shibuya Stream skyscraper, Google has put its name on the building and dedicated two floors to a newly launched Google for Startups Campus, which is its seventh in the world and second in Asia after Seoul.Agnieszka Hryniewicz-Bieniek, the director of Google for Startups, said that the company will run an accelerator program early next year that will select 12 startups looking to scale up their work on artificial intelligence and machine learning, both critical aspects of Google’s current and future operations. She also stressed the importance of inclusiveness at an event where the Wi-Fi password was BuildInclusiveTeams.“We would like Campus Tokyo to support women founders,” she said, and that Google is proud that 37% of its Campus participants are female entrepreneurs, a higher proportion than the wider startup ecosystem. “So when they go to the next stage of growth, we’re behind them, we’re supporting them.”The Campus initiative extends Google’s effort to combine education and training for startups with evangelism for the use of its cloud and business services. Co-location with Google’s main office will make it easy for experts from Google’s developer relations and web marketing teams to make themselves available to help budding entrepreneurs, Google said.Joined by Japan’s Minister for Internal Affairs and Communications Sanae Takaichi on stage, Pichai said he had toured some of the venues for next year’s Tokyo Olympics, which Google will be supporting through its various services like Google Maps and Translate. “Ultimately, we want to make sure the legacy of technology innovation extends far beyond 2020. This Google for Startups Campus is one part of that,” he said at the opening.AI has been topical in Japan recently, with SoftBank Group Corp. announcing plans to combine its Yahoo Japan internet business with Naver Corp.’s Line messaging service in an effort to create an AI tech leader capable of rivaling U.S. juggernauts like Google and Facebook Inc. On Monday, Peter Thiel visited Tokyo to introduce Palantir Technologies Japan Co., which will use AI to make sense of large volumes of unwieldy data in the fields of health and cybersecurity.Google has said the move to Shibuya Stream will double its employee headcount in Japan to beyond 2,000. The company’s first office outside the U.S. was in Tokyo, opening in 2001. It said it has “invested heavily” in Japan over the years and earlier in 2019 committed to training 10 million people in digital skills by 2022. Its so-called Grow with Google program is the Campus equivalent for individual job-seekers and students.“At Google, we are deeply committed to fostering Japanese startups,” Pichai said.(Updates with details of accelerator from second paragraph)To contact the reporter on this story: Vlad Savov in Tokyo at vsavov5@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Vlad Savov, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Investopedia

    Heavy Hitters Drive Nasdaq 100 Performance

    The strong performance of the Nasdaq 100 is being driven by five companies. Can the index move higher without its largest components?

  • Facebook, IBD Stock Of The Day, Breaks Out From Cup-With-Handle Pattern
    Investor's Business Daily

    Facebook, IBD Stock Of The Day, Breaks Out From Cup-With-Handle Pattern

    Facebook is getting renewed attention after an earnings report that eased concerns about spending and revenue deceleration. Revenue jumped 29% to $17.65 billion and earnings surged 20%..

  • Nasdaq, Small Caps Lead But Dow Drags; Facebook Breaks Out
    Investor's Business Daily

    Nasdaq, Small Caps Lead But Dow Drags; Facebook Breaks Out

    Stock indexes were mixed Tuesday as the Nasdaq — helped by a breakout in Facebook stock — climbed 0.4%. But the Dow Jones Industrial Average lagged.

  • Reuters

    UPDATE 1-Google, Facebook, Amazon and Apple offer defense in congressional antitrust probe

    WASHINGTON/SAN FRANCISCO, Nov 19 (Reuters) - Four top U.S. tech companies, Alphabet's Google, Facebook, Amazon.com and Apple, responded to questions from a congressional committee by defending their practices and declining to answer some questions. The House of Representatives Judiciary Committee, which released the answers Tuesday, had sent the queries as part of its antitrust probe of the four giants, which face a long list of other antitrust probes. Facebook and Apple declined comment for this story while Amazon and Google had no immediate comment.

  • Google, Facebook, Amazon and Apple offer defense in congressional antitrust probe
    Reuters

    Google, Facebook, Amazon and Apple offer defense in congressional antitrust probe

    WASHINGTON/SAN FRANCISCO (Reuters) - Four top U.S. tech companies, Alphabet's Google, Facebook, Amazon.com and Apple, responded to questions from a congressional committee by defending their practices and declining to answer some questions. The House of Representatives Judiciary Committee, which released the answers Tuesday, had sent the queries as part of its antitrust probe of the four giants, which face a long list of other antitrust probes. Facebook and Apple declined comment for this story while Amazon and Google had no immediate comment.

  • Google, Facebook, Amazon, Apple Push Back on House Tech Concerns
    Bloomberg

    Google, Facebook, Amazon, Apple Push Back on House Tech Concerns

    (Bloomberg) -- Google, Facebook, Amazon and Apple defended their business practices in responses to detailed questions by lawmakers conducting an inquiry into antitrust issues in the tech sector.The answers, released Tuesday by the House subcommittee overseeing the probe, come as antitrust scrutiny of the companies has escalated rapidly, with federal and state enforcers opening formal investigations into Facebook Inc. and Alphabet Inc.’s Google.The four companies received the questions from Democratic Representative David Cicilline of Rhode Island, who chairs the panel, in September. Separately, the whole committee issued requests for extensive records on the firms’ business practices, acquisitions, executive communications and other issues. The companies also are in the process of responding to those requests.Here’s what the four firms said:GoogleDisputed the idea that it controls too much of the search market and the digital ad ecosystem.Downplayed suggestions that it prioritizes its own services.Denied that advertisers can only use Google Display & Video 360 ad service to purchase advertising inventory on its YouTube video platform, saying certain partners can buy ads directly from Google’s sales team.Denied that its search ranking system considers whether a publisher has adopted use of its Accelerated Mobile Pages -- a format that hosts web content directly inside search results. Google has said that the new format significantly accelerated loading times on websites.FacebookDefended policies that restricted some third-party app developers from using its platform, insisting it has never tied access to its data to spending on advertising even though documents from a lawsuit have told a different story.Said its changes to WhatsApp’s privacy policy were consistent with its promises not to alter the chat platform’s sharing practices.Explained that it restricted video app Vine from its platform in 2013 because it “considered Vine to be an app that replicated Facebook’s core News Feed functionality.”AmazonPushed back against criticism that it unfairly competes with third-party sellers in its marketplace with its own products, saying its decision-making for how third-party sellers are treated is driven by a desire to give consumers wide selection, low prices and convenient delivery.Defended its private-label line known as AmazonBasics, saying private-label products are a “common retail practice.” It said it “generally does not distinguish the treatment of brands” based on the brand owner.Said its algorithm for listing shopping results doesn’t consider whether a merchant uses its Fulfillment by Amazon logistics service or whether a product is Amazon’s private label.Said it prohibits its private-label business from using individual sellers’ data to make decisions about product introductions, pricing or inventory.ApplePointed out that there are many apps that compete with its own services such as web browsing, maps, music and video.Said that users cannot uninstall its Safari web browser from the iPhone or switch to another default because Safari is “an essential part of iPhone’s functionality” as an operating system app.Explained that it’s not possible to reliably repair some products “because it is not feasible to split products into its component parts without significant risk of damage to those components.”\--With assistance from Naomi Nix, Gerrit De Vynck, Joe Light, David McLaughlin and Mark Gurman.To contact the reporter on this story: Ben Brody in Washington, D.C. at btenerellabr@bloomberg.netTo contact the editors responsible for this story: Sara Forden at sforden@bloomberg.net, Mark NiquetteFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Google Puts New Limits on Political Advertising
    Bloomberg

    Google Puts New Limits on Political Advertising

    Nov.21 -- Google is severely limiting how political advertisers can target people online. The Alphabet unit says it will no longer allow election ads to be targeted based on political affiliation on Google Search, YouTube and across the web. Bloomberg's Eric Newcomer and Kurt Wagner report on "Bloomberg Technology."