|Bid||188.06 x 800|
|Ask||188.10 x 1200|
|Day's Range||186.75 - 188.63|
|52 Week Range||123.02 - 208.66|
|Beta (3Y Monthly)||1.28|
|PE Ratio (TTM)||31.79|
|Earnings Date||Oct 30, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||235.70|
Facebook's upcoming news section will include headlines from publications like The Wall Street Journal, the Washington Post, and Buzzfeed News. Yahoo Finance's Alexis Christoforous, Brian Sozzi, and Dan Howley discuss.
(SOUNDBITE) (English) DEMOCRATIC PRESIDENTIAL CANDIDATE ELIZABETH WARREN SAYING: "To make real change in Washington, we have got to beat back the corruption in Washington. We have got to beat back the influence of money." Democratic presidential candidate Elizabeth Warren campaigning in the key swing state of Iowa on Sunday took a swipe at Facebook CEO Mark Zuckerberg, after Facebook ran a political ad which falsely accused former Vice President Joe Biden of blackmailing Ukrainian officials to stop an investigation of his son. (SOUNDBITE) (English) DEMOCRATIC PRESIDENTIAL CANDIDATE ELIZABETH WARREN SAYING: "And when Mark Zuckerberg doesn't like it, too bad for Mark Zuckerberg." Last week, the Biden campaign sent a letter to Facebook arguing the ad should be taken down. While the Trump campaign has been pushing out ads with similar false accusations in recent weeks... the video in question was released by an independent political action committee, or super PAC...called 'the Committee to Defend the President.' Biden's campaign pointed out that although Facebook has a policy of allowing all political leaders a platform, the ad by the super PAC was not from a politician but an organization...and so it should have been rejected. Zuckerberg last week defended the social media company's stance on free speech, whether true or false. (SOUNDBITE) (English) FACEBOOK CEO, MARK ZUCKERBERG, SAYING: "I don't think it's right for a private company to censor politicians or the news in a democracy." The Facebook controversy flared up after a leaked audio recording was published by The Verge where Zuckerberg was critical of Warren's views on tech. (SOUNDBITE) (English) FACEBOOK CEO, MARK ZUCKERBERG, SAYING: "If she (Warren) gets elected president, then I would bet that we will have a legal challenge and I would bet that we will win the legal challenge. And does that still suck for us? Yeah. I mean, I don't want to have a major lawsuit against our own government." In March, Warren called for breaking up Amazon, Facebook and Alphabet,
The Biden campaign going after Facebook once again... this time for running a video ad which falsely accused the former Vice President of blackmailing Ukrainian officials to stop an investigation of his son. On Thursday the Biden campaign sent a letter to Facebook, viewed by the New York Times, arguing the ad should be taken down. While the Trump campaign has been pushing out ads with similar false accusations in recent weeks... the video in question was released by an independent political action committee, or super PAC...called 'the Committee to Defend the President.' Biden's campaign pointed out that although Facebook has a policy of allowing all political leaders platform, the ad by the super PAC was not from a politician but an organization...and so it should have been rejected. The letter came on the same day that Facebook's CEO, Mark Zuckerberg delivered a speech in Washington defending his company's approach to political ads, arguing that even falsehoods from a politician were important for public discourse. (SOUNDBITE)(ENGLISH) FACEBOOK CEO, MARK ZUCKERBERG, SAYING: "I don't think its right for a private company to censor politicians or the news in a democracy." Zuckerberg faced swift backlash to the speech- especially from Senator Elizabeth Warren who tweeted: "Once again, we're seeing Facebook throw its hands up to battling misinformation in the political discourse, because when profit comes up against protecting democracy, Facebook chooses profit." After the Biden campaign's letter- The Times reported that a Facebook executive confirmed that the ad was taken down. And if it ran again it would be submitted to fact-checking.
There’s a lot to be glum about in the stock market — and the world, really — at the moment, but in our call of the day Michael Kramer, founder of Mott Capital Management, is confident there’s some serious upside potential in the coming years.
The so-called Turla group, which has been linked with Russian intelligence, allegedly hijacked the tools of Oilrig, a group widely linked to the Iranian government, according to a two-year probe by the UK’s National Cyber Security Centre in collaboration with the US National Security Agency. Victims include military establishments, government departments, scientific organisations and universities across the world, mainly in the Middle East. The Iranian group was probably unaware that its hacking methods were hacked and deployed by another cyber espionage team, security officials involved in the investigation said.
It’s hard to know who is more narcissistic and oblivious to reality — Zuck, or our president. The idea that a man who has become a billionaire by the industrial-scale monetisation of personal data is invoking Frederick Douglass, Martin Luther King, the Vietnam war and the first amendment of the US constitution in his continuing efforts to avoid appropriate regulation is just beyond. If anyone wonders about the cognitive dangers of being in the Silicon Valley money and power bubble, this is a case in point of how it can truly addle your brain.
What does Facebook have in common with a failed German bank? Mark Zuckerberg’s empire, valued at more than $500bn and with 2.7bn monthly users, is a world away from Bankhaus Herstatt, a small Cologne-based lender that collapsed in a sea of foreign exchange losses in 1974. The reason that the bank founded by Ivan Herstatt in the mid-1950s failed 20 years later was simple: it had made a bad bet on the direction of the dollar and by June 26 1974 was so indebted that it was closed by regulators: customers who had given it Deutschmarks during the German trading day never got the dollars they were due at the end of it.
When he announced Libra in June, Mark Zuckerberg let slip to policymakers that they are already behind in a race they did not even know they were running. Two years ago Stefan Ingves, governor of Sweden’s central bank, started looking into an e-krona to be created and run by the Riksbank. At the time his colleagues in other countries were bemused, but over the summer, said Mr Ingves, “we ended up in a lot of conversations about Libra, because Libra showed up, at least from a central bank perspective, kind of out of the blue”.
An all-star team of former NBA players and tech entrepreneurs have developed an app that is the equivalent of Airbnb for pick-up basketball games.
(Bloomberg) -- The head of Facebook Inc.’s Libra project said that it could use cryptocurrencies based on national currencies like the dollar, rather than the synthetic one it initially proposed, Reuters reported.David Marcus, who oversees the Libra initiative for Facebook, told a banking seminar hosted by the Group of 30 in Washington that Facebook is open to looking at alternative approaches for the currency token it uses.“We could do it differently,” he said. “Instead of having a synthetic unit...we could have a series of stablecoins: a dollar stablecoin, a euro stablecoin, a sterling pound stablecoin, etc.”Marcus said the currency-pegged stablecoins aren’t Libra’s preferred option. He said the project is still aiming for a June 2020 launch.“We’ve always said that we wouldn’t go forward unless we have addressed all legitimate concerns and get proper regulatory approval,” Marcus told Reuters. “So it’s not entirely up to us.”Facebook has faced growing skepticism about its digital currency project. Last week Jamie Dimon, chief executive officer of JP Morgan Chase & Co., called it “a neat idea that’ll never happen.”More: Libra Is ‘Neat Idea That’ll Never Happen,’ Dimon SaysTo contact the reporter on this story: Hailey Waller in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: James Ludden at email@example.com, Matthew G. Miller, Ros KrasnyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Facebook Inc , facing growing skepticism about its digital currency project Libra, on Sunday said the initiative could use cryptocurrencies based on national currencies such as the dollar, instead of the synthetic one it initially proposed. David Marcus, who heads the Libra project for Facebook, told a banking seminar the group's main goal remained to create a more efficient payments system, but it was open to looking at alternative approaches for the currency token it would use. "We could definitely approach this with having a multitude of stablecoins that represent national currencies in a tokenized digital form," he said.
Which stocks are ready to take off in 2020? This is the question growth investors constantly have on their minds. However, finding these stocks that are primed for explosive growth is no simple task.That’s where TipRanks comes in. Using the platform’s Stock Screener tool, I got access to market data that let me zero in on 3 stocks with strong long-term growth narratives.I’m putting these names at the top of my buy list based on their upside potential from the current share price. We’re talking 20% or more here. Not to mention each boasts a “Strong Buy” consensus rating, which is generated from all ratings assigned by Wall Street analysts over the last three months. Here are the 3 monster growth stocks poised to soar in 2020: L3Harris Technologies (LHX)L3Harris is a technology, defense and information services provider that designs C6ISR systems and products, wireless equipment and tactical radios. The company, which is a product of the Harris Corporation and L3 Technologies merger this past June, looks poised to deliver gains in 2020 on top of the 47% year-to-date growth it has already achieved.LHX has the advantage over other defense companies in that the merger has led to several synergies. For example, the combination of antennas from L3 and combined processing from Harris for avionics applications and the integration of Harris’ payloads on L3’s airborne platforms is expected to lead to an increase in revenue generation.4-star Morgan Stanley analyst Rajeev Lalwani also sees possible wins from the company's tactical radios that include Manpack, its electronics for F-35 and its electronic warfare for F-16 and F-18. All of this lends the analyst to his conclusion that LHX has “positioned itself as one of the better margin narratives in the industry”.Lalwani rates LHX stock a "buy" along with $259 price target. If everything goes as planned, LHX will soar about 30% over the next 12 months. (To watch Lalwani's track record, click here)“Given above-average potential around sales growth, margin expansion, FCF generation, and capital returns, alongside a leadership team that has previously executed, we see no reason why the legacy HRS premium valuation should not be retained has previously executed, we see no reason why the legacy HRS premium valuation should not be retained,” Lalwani added.The rest of the Street takes a similar approach when it comes to LHX. The defense stock sports a ‘Strong Buy’ analyst consensus and $238 average price target, indicating 20% upside potential. (See L3Harris stock analysis on TipRanks) Facebook (FB)Facebook has been a tear this year — with shares soaring 42% — and analysts say the gains may not be done yet.Ahead of its upcoming Q3 earnings release, the Street is standing firmly in Facebook’s corner with both Barclays and Deutsche Bank recently publishing bullish calls.Based on each firm’s channel checks, demand for Facebook ads remains healthy. According to Deutsche Bank’s Lloyd Walmsley, data indicates that there wasn’t any ad spend deceleration from the second quarter and that same client spending improved for FB.Adding to the good news, Walmsley sees gains in store thanks to Instagram Checkout as well as the company’s focus on monetizing Instagram influencers. Instagram Checkout lets users easily buy products they discover on the social media platform. Its growing number of partners and the addition of new features like alerts is expected to contribute to impressive top-line results in 2020.Walmsley rates FB stock a Buy along with $230 price target, which implies about 23% upside from current levels. (To watch Walmsley's track record, click here)Similarly, Barclays’ Ross Sandler likes what he’s seeing. “We get the sense that Facebook is starting to come out of the privacy and regulatory fog it has been in the past two years, and get back to a stronger innovation cycle. Management likely paints a scenario of steady deceleration and heavy investment for 2020, but we think Facebook may be the only mega-cap to see margin expansion and rapidly accelerating EPS growth next year,” the analyst explained.As a result, the 5 star analyst reiterated his Buy rating and $240 price target. He is confident in FB’s ability to surge 29% over the next twelve months. (To watch Sandler’s track record, click here)Overall, Wall Street is clearly bullish on FB. With 7 Buy ratings received from top analysts in just the last 25 days, it’s no wonder the stock has a ‘Strong Buy’ analyst consensus. In general, analysts see 28% upside potential for FB based on its $237 average price target. (See Facebook stock analysis on TipRanks) Atlassian (TEAM)Despite some recent shakiness, Atlassian stock is up over 30% year-to-date, and several Wall Street analysts believe it remains one of the strongest names in the software space.According to 5-star SunTrust analyst Joel Fishbein, the force behind popular software products like JIRA and Service Desk presents investors with an exciting growth opportunity thanks to upcoming catalysts. Specifically, TEAM’s partnership with Okta (OKTA) could drive significant growth. The collaboration will see Okta's authentication technology integrated into Atlassian's cloud products, allowing IT admins to automate provisioning. The analyst notes that this partnership as well as the enhancement of its cloud products through its Code Barrel acquisition could result in annual contract value (ACV) expansion.Fishbein believes that these positive catalysts and its solid past performance make it a stand-out. On October 17, TEAM reported that during its fiscal first quarter, it saw revenue gain 36% year-over-year and added more than 7,000 new net customers.“Atlassian’s low touch sales and marketing, viral product adoption, focus on R&D and product innovation, and highly profitable model sets them apart in a crowded field,” the top analyst commented. This prompted him to rate the stock a Buy along with $162 price target, which implies about 40% upside potential. (To watch Fishbein’s track record, click here)The rest of the Street echoes the analyst’s sentiment. 8 Buy ratings and 2 Holds received in the last three months add up to a ‘Strong Buy’ analyst consensus. Additionally, its $153 average price target puts the upside potential at 31%. (See Atlassian stock analysis on TipRanks)
With the S&P 500 suffering an earnings recession for the first time since 2017, a few big names deserve most of the blame.
The international reputation of large American tech firms can impact how the global community perceives the U.S., says a former top national security official under Barack Obama.
While the hearing is focused on Facebook's Libra project, the congressional grilling could also extend to Facebook's acquisitions, antitrust concerns and posture on free speech.
Companies including Facebook and Twitter committed in May to take "transparent, specific measures" to prevent the amplification of violent content, after the killing of 51 people in Christchurch, New Zealand was livestreamed on Facebook. Releasing the data would provide an indication of the impact of the new policies.
The WSJ, which first reported about the deal, said news publications Washington Post, BuzzFeed News, and Business Insider have also reached a similar deal with Facebook. The news organizations will be paid a licensing fee to supply headlines, the WSJ reported.
Facebook critics, from Donald Trump to Democratic presidential nominee candidate Elizabeth Warren, are rushing to the platform to promote their campaigns.
Facebook's Libra digital currency project is "a neat idea that will never happen," JPMorgan Chase Chief Executive Jamie Dimon said on Friday, adding to skepticism about the project that has faced criticism from policymakers and some regulators. Dimon, who made the comments at an event in Washington hosted by the Institute of International Finance, did not elaborate on why he believed Libra was a non-starter.
(Bloomberg) -- U.S. lawmakers from both parties slammed Apple Inc. and Chief Executive Officer Tim Cook on Friday for “censorship of apps” at the “behest of the Chinese government.”Senators Ted Cruz, Ron Wyden, Tom Cotton, Marco Rubio and Representatives Alexandria Ocasio-Cortez, Mike Gallagher and Tom Malinowski expressed concern about the removal of an app that let Hong Kong protesters track police movement in the city.“Apple’s decisions last week to accommodate the Chinese government by taking down HKmaps is deeply concerning,” they wrote in a letter to Cook, urging Apple to “reverse course, to demonstrate that Apple puts values above market access, and to stand with the brave men and women fighting for basic rights and dignity in Hong Kong.” Apple didn’t respond to a request for comment on Friday.Apple removed the HKmap.live app from the App Store in China and Hong Hong earlier this month, saying it violated local laws. The company also said it received “credible information” from Hong Kong authorities indicating the software was being used “maliciously” to attack police. The decision, and the reasoning, was questioned widely.Cook, in a recent memo to Apple employees, said that “national and international debates will outlive us all, and, while important, they do not govern the facts.” On Thursday, the CEO met with China’s State Administration for Market Regulation head Xiao Yaqing in Beijing to discuss consumer-rights protection, boosting investment and business development in the country, according to a statement from the Chinese regulator.The Cupertino, California-based company isn’t the only one referenced in Friday’s letter. The lawmakers mentioned recent headlines involving the National Basketball Association and Activision Blizzard Inc., a video game company that suspended a professional game player for supporting the Hong Kong protests.“Cases like these raise real concern about whether Apple and other large U.S. corporate entities will bow to growing Chinese demands rather than lose access to more than a billion Chinese consumers,” the lawmakers wrote.They also slammed Apple for removing other apps, including VPN apps that helped Chinese people get around the government’s online censorship. The letter said Apple has “censored” at least 2,200 apps in China, citing data from non-profit organization GreatFire. Apple says on its website that it removed 634 apps in the second half of last year globally due to legal violations.The letter implied that Apple made the removal decisions to maintain its huge business in China and appease the government. Greater China was Apple’s third-largest region by revenue last year, generating more than $50 billion in revenue.Apple is one of the rare tech companies that operates in China, with rivals like Google and Facebook Inc. hardly operational in the market. China’s importance to Apple means the company has to balance its own values with following local laws.In the past, the company has pulled the Skype and New York Times apps from its App Store in China. More recently, it removed a Taiwanese flag emoji for users in Hong Kong and Macau and was criticized for sending some browsing data to China’s Tencent Holdings Ltd. as part of a privacy feature.To contact the reporters on this story: Mark Gurman in San Francisco at firstname.lastname@example.org;Ben Brody in Washington, D.C. at email@example.comTo contact the editors responsible for this story: Tom Giles at firstname.lastname@example.org, Alistair Barr, Robin AjelloFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Chinese-owned video-sharing app TikTok, which has exploded in popularity globally, has recently come under fire for censoring content that Beijing deems unacceptable.