192.88 +0.28 (0.15%)
After hours: 7:59PM EDT
|Bid||192.72 x 1300|
|Ask||192.88 x 800|
|Day's Range||191.57 - 193.98|
|52 Week Range||123.02 - 218.62|
|Beta (3Y Monthly)||1.33|
|PE Ratio (TTM)||28.58|
|Earnings Date||Jul 23, 2019 - Jul 29, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||222.30|
Senator Josh Hawley (R-MO) and Senator Mark Warner (D-VA) announced the proposal of the Dashboard Act. The bill bill would require social media companies to put a price on consumer data. Yahoo Finance's Jessica Smith joins Seana Smith on 'The Ticker' to discuss.
Spotify, Palatin, FedEx, Facebook and Disney are the companies to watch.
Facebook's head of global spin and policy, former UK deputy prime minister Nick Clegg, will give a speech later today providing more detail of the company's plan to set up an 'independent' external oversight board to which people can appeal content decisions so that Facebook itself is not the sole entity making such decisions. In the speech in Berlin, Clegg will apparently admit to Facebook having made mistakes. Albeit, it would be pretty awkward if he came on stage claiming Facebook is flawless and humanity needs to take a really long hard look at itself.
Stephen Moore’s didn’t get a chance to join the Federal Reserve board, but the controversial conservative economic adviser will reportedly soon be playing a key role at a new “central bank” for cryptocurrencies.
Taxing the richest of the rich will benefit all Americans, a group of the wealthiest Americans says in an open letter to the 2020 presidential candidates. In a Medium blog post published Sunday, the group of 18 ultra-rich individuals — including George Soros, Facebook Inc. (FB) co-founder Chris Hughes, heiress Abigail Disney and Molly Munger (the daughter of Berkshire Hathaway’s (BRK) Charlie) — argue that taxing the richest 1/10 of the richest 1% of Americans is not only fair, it’s vital. “This revenue could substantially fund the cost of smart investments in our future, like clean energy innovation to mitigate climate change, universal child care, student loan debt relief, infrastructure modernization, tax credits for low-income families, public health solutions, and other vital needs,” the group wrote.
(Bloomberg) -- Apple Inc. is significantly increasing its footprint in Seattle as its expands on a previously announced plan to boost hiring, bringing an additional 2,000 jobs to the area in the next five years.The iPhone maker signed a lease for office space at 333 Dexter, a 660,000-square-foot (61,300-square-meter) development in the South Lake Union neighborhood being built by Kilroy Realty Corp., according to the office of Mayor Jenny Durkan.“These new jobs confirm what we already knew: We have the best talent and city anywhere,” Durkan said in an emailed statement. “Apple’s expanded footprint in Seattle is another example of the growing opportunity that exists for residents of Seattle and the economic powerhouse our city has become.”For years, cranes have dotted the Seattle skyline as builders rushed to accommodate a swelling population and rapidly growing tech firms, led by Amazon.com Inc. That company now employs more than 45,000 at its headquarters in town and occupies about a fifth of the city’s prime office real estate. Other firms have been muscling in to recruit from Seattle’s deep well of engineers. Both Google and Facebook Inc. are leasing offices near 333 Dexter.Apple has a relatively modest presence in the city of about 500 employees. In December, the company said that it planned to add 1,000 jobs in the area over three years as part of a national expansion that also includes spending $1 billion on a new campus in Austin, Texas.To contact the reporter on this story: Noah Buhayar in Seattle at firstname.lastname@example.orgTo contact the editors responsible for this story: Rob Urban at email@example.com, Dan Reichl, David ScheerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Match Group is the IBD Stock Of The Day as shares currently trade mainly on paid subscriber growth for the Tinder dating app, and as analysts expect a boost from its expansion in Asia.
(Bloomberg) -- President Donald Trump imposed sanctions on Iran’s supreme leader, Ayatollah Ali Khamenei, and eight senior military commanders, a provocative step designed to increase pressure on the Islamic Republic.Trump told reporters at the White House on Monday that the penalties would deny Khamenei and his office access to financial resources.“The supreme leader of Iran is the one who ultimately is responsible for the hostile conduct of the regime,” Trump said.Trump last week abruptly canceled planned air strikes against Iran for shooting down a U.S. Navy drone on Thursday. The administration also blames Iran for recent attacks on oil tankers near the Persian Gulf, though Iran denies it.The penalties won’t have a significant impact on a country that’s already in recession and facing heavy sanctions from the U.S. Still, the new restrictions serve as symbolic reprimand for the attacks, according to former Treasury officials.‘Annoy the Iranians’“It will have an effect because it will annoy the Iranians and make negotiations hard to pull off if the supreme leader is sanctioned,” said Brian O’Toole, a senior fellow at the Atlantic Council who previously worked in the U.S. Treasury Department’s sanctions unit.The U.S. already has sanctioned more than 80% of Iran’s economy, according to Secretary of State Michael Pompeo, who visited Saudi Arabia and the United Arab Emirates to rally a front against Iran.Trump has coupled his “maximum pressure” campaign of sanctions with invitations to sit down with Iranian leaders. In an interview that aired Sunday on NBC’s “Meet the Press,” the president said that he thinks Iranian leaders want to negotiate and he’s willing to talk with no preconditions except that the outcome must be Iran acquiring no nuclear weapons.At the United Nations on Monday, Iran’s Ambassador Majid Takht Ravanchi ruled out one-on-one talks with the U.S., urging Secretary-General Antonio Guterres to help organize regional talks instead. “You cannot start dialogue with someone who is threatening you, who is intimidating you,” Ravanchi told reporters.Outside a session of the Security Council called by the U.S. -- where Iran wasn’t invited to participate -- U.K. Ambassador Karen Pierce told reporters that “there’s a lot of desire to see de-escalation and to look for diplomatic solutions. At the same time, one has to take very seriously the sorts of attacks that have occurred on the tankers, which is dangerous for international shipping, dangerous for regional security.”Reflecting the same ambivalence, French Ambassador François Delattre said “maximum pressure only makes sense with maximum diplomacy.”Khamenei’s WealthKhamenei, who was initially elected president of the nascent republic in 1981, has “possessions” valued at an estimated at $200 billion, according to a Facebook post by the U.S. embassy in Baghdad in April. He’s backed by the Islamic Revolutionary Guard Corps and has survived an assassination attempt and front-line combat.The U.S. Treasury Department said Monday those sanctioned also include eight officials of the Guard Corps who supervised “malicious regional activities,” including its ballistic missile program and “harassment and sabotage” of commercial ships in international waters.Treasury Secretary Steven Mnuchin said at a news conference in Washington that some of the sanctions had been “in the works” and others were a result of “recent activities.” He said sanctions against the Islamic Republic have been effective in cutting off funds to the military and “locking up” the Iranian economy, and that the new penalties would be effective as well.Mnuchin said the U.S. will impose financial restrictions on Iran Foreign Minister Javad Zarif “later this week.” Typically, the U.S. doesn’t announce sanctions in advance against individuals so they don’t hide assets before penalties take effect.Zarif, viewed as Iran’s most skilled diplomat, was lead negotiator in the multi-party nuclear accord reached in 2015 under the Obama administration that Trump has since rejected.Trump told reporters Monday that, “A lot of restraint has been shown by us, a lot of restraint -- and that doesn’t mean we are going to show it in the future, but I thought that we want to give this a chance,” he said.Any financial institution that knowingly assists with a financial transaction for those who were sanctioned could be cut off from the U.S. financial system, according to the Treasury.Even before the new penalties were announced, the U.S. had applied sanctions to almost 1,000 Iranian entities, including banks, individuals, ships and aircraft. In May, the Trump administration prohibited the purchase of Iranian iron, steel, aluminum and copper.Tensions have spiked in the Gulf since May, when the Trump administration revoked waivers on the import of Iranian oil, squeezing its economy a year after the U.S. walked away from the landmark 2015 deal meant to prevent the Islamic Republic from developing a nuclear weapon. Since then, a spate of attacks on oil tankers near the Strait of Hormuz shipping choke point have raised the specter of war and pushed up oil prices. The U.S. has blamed the attacks on Tehran, which has denied any wrongdoing.On Monday, Trump questioned in comments on Twitter why the U.S. was protecting the shipping route on behalf of other countries.Hours later, a State Department official said the U.S. was seeking allies to join in a “Sentinel” program to deter Iran by equipping ships with cameras to monitor tanker traffic and document any threats. That would stop well short of the “tanker wars” of the 1980s, when the U.S. re-registered Kuwaiti ships under the U.S. flag and gave them armed escorts.(Updates with Iranian, other envoys at UN starting in ninth paragraph.)\--With assistance from Ladane Nasseri and Nick Wadhams.To contact the reporters on this story: Saleha Mohsin in Washington at firstname.lastname@example.org;Shannon Pettypiece in Washington at email@example.com;David Wainer in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Alex Wayne at email@example.com, Justin Blum, Larry LiebertFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The price of Bitcoin soared above $11,000 on Monday for the first time in more than a year. Analysts point to Facebook’s cryptocurrency project Libra as one driver for the rally.
Always keep one eye on the so-called smart money. Yes, hedge funds don't always live up to the hype, and they're renowned for charging an arm and a leg. But considering they represent more than $3 trillion in assets under management and have built a reputation of having stock-market savvy, it's good to know what they're putting their capital toward - and they're often putting it toward blue-chip stocks.The folks at WalletHub keep regular tabs on stocks that hedge fund managers are buying, selling and holding every quarter. Combing through regulatory filings, WalletHub looks at the positions of more than 400 hedge funds, tallies their positions in individual stocks, then ranks those stocks by their total holdings value.These stocks are massive in market value, ranging from the hundreds of billions of dollars to more than $1 trillion. Indeed, their very size helps attract more institutional interest. Unsurprisingly, then, most of these stock picks are household names - a number happen to belong to Warren Buffett's Berkshire Hathaway portfolio.Here are hedge funds' 25 favorite blue-chip stocks to buy now. All these stocks likely appeal to the "smart money" because of their size and strong track records. But we'll delve into a few specifics that make each company special. SEE ALSO: The 19 Best Stocks to Buy for the Rest of 2019
There are many things to be ironed out still with respect to banks and regulators before the currency officially launches in the first half of 2020.
The House Financial Services Committee plans to hold a hearing on July 17 on Facebook Inc.'s Libra cryptocurrency, according to an announcement Monday from the committee's chairwoman, Rep. Maxine Waters. The California Democrat said earlier this month that she wants Facebook to suspend plans for its crypto offering until Congress and regulators are able to study it more closely. The Senate Banking Committee is due to hold a hearing on Libra on July 16. Waters also said her committee will hold a hearing on July 10 on monetary policy, as well as a hearing on July 24 on the merger of SunTrust Banks Inc. and BB&T Corp.
US lawmakers and regulators are beginning to investigate big tech's growing power, but they need to look beyond size and into their very nature of these three companies (and find different solutions for each).
Ever since the news about Facebook’s (FB) cryptocurrency project broke, Bitcoin has rallied on the hope that Facebook’s entry in the space will help make cryptocurrencies mainstream. Facebook’s cryptocurrency will be called Libra and will be governed by an association with 28 founding members across industries.
LONDON/NEW YORK, June 24 (Reuters) - Bitcoin tested 15-month highs on Monday after jumping more than 10% over the weekend, with analysts ascribing the spike to growing optimism over the adoption of cryptocurrencies after Facebook unveiled its Libra digital coin. Facebook said last week it planned to launch a new cryptocurrency called Libra, though the announcement immediately led to questions from regulators and politicians across the world. Mati Greenspan, an analyst at eToro, said bitcoin's gains underscored growing optimism among retail investors that Facebook's plans were part of a wider trend of major companies adopting cryptocurrencies.
After the rise and fall of bitcoin at the end of 2017, why are many large companies like Facebook and Square now embracing cryptocurrencies?
Facebook dismissed calls for a break-up of the world's biggest social network and other big internet companies on Monday, saying this would not tackle issues such as privacy, attempts to influence elections or harmful content. "Just because it is difficult to regulate the internet doesn't mean policy makers should jump to the alternative of wishing these companies away," Nick Clegg, Facebook's head of global affairs, said in a speech on Monday in Berlin. Facebook, which owns one-time rivals Instagram and WhatsApp and has almost 2.4 billion monthly users, is firmly in the cross hairs of regulators and faces calls from some government officials for penalties or to be forcibly broken up.