|Bid||234.86 x 800|
|Ask||234.87 x 900|
|Day's Range||228.74 - 235.99|
|52 Week Range||137.10 - 237.20|
|Beta (5Y Monthly)||1.16|
|PE Ratio (TTM)||32.23|
|Earnings Date||Jul 22, 2020 - Jul 27, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||237.38|
Facebook Inc. (FB) is adding new safety alerts to its Messenger platform to accelerate user security in a move which is aimed at detecting scams and protecting minors from adult abuse.The social media network asserts that the new safety feature will “help millions of people avoid potentially harmful interactions and possible scams without compromising their privacy”.Messenger users will see safety notices pop up in a chat that will provide tips to help people spot suspicious activity and take action to block or ignore someone when something doesn’t seem proper.In March, Facebook started to roll the feature out on Android and will launch it on iPhones this week.“As we move to end-to-end encryption, we are investing in privacy-preserving tools like this to keep people safe without accessing message content,” Facebook said in a statement. “We developed these safety tips with machine learning that looks at behavioral signals like an adult sending a large amount of friend or message requests to people under 18.”The new feature also aims to educate users under the age of 18 to be cautious when interacting with an adult they may not know and encourage them to take action before responding to a message.Shares in Facebook rose 1.5% to $234.91 at the close on Friday extending its rally to a staggering 60% since mid-March.In light of the recent rally, the $240.43 average price target by analysts implies limited upside of 2.4% in the coming 12 months. (See Facebook stock analysis on TipRanks).TipRanks data shows that overall Wall Street analysts have a bullish call on Facebook shares. A stellar 33 out of 36 analysts have a Buy rating on the stock with the rest keeping a Hold rating for now. Related News: Facebook Workplace Hits 5 Million Paid Users As Remote Work Demand Rises Facebook Canada Faces C$9 Million Fine Over ‘False’ Privacy Claims Google, Apple Roll Out Coronavirus Contact Tracing Technology More recent articles from Smarter Analyst: * Lufthansa Clinches $9.8 Billion Bailout Deal With German Government * Regeneron To Repurchase $5 Billion Stake From Sanofi * Gates Foundation Buys Up Amazon, Apple, Twitter Stock; Trims Berkshire Hathaway Stake * Earnings: RBC Forecasts Choppy Results For Dell This Thursday
Facebook Inc. (FB) has seen the number of paid users of its Workplace software, which is used for corporate chats and video calls, increase to 5 million as the coronavirus pandemic accelerated the need for remote working tools.The social media network said that as the number of Workplace software paid users surged to 5 million from 2 million in October, it is also introducing additional video features to meet the needs of the growing demand.Facebook is joining other tech companies in offering remote work tools such as Microsoft (MSFT) with its Teams software which has more than 75 million daily active users. Meanwhile, popular video-conferencing company Zoom Video Communications (ZM) has gone from an average of 10 million daily active users in December to 300 million as of the end of April.Facebook’s Workplace platform will be offering Workplace Rooms which is a space for businesses to meet with up to 50 participants for an unlimited time. Other features include the addition of new Live Producer tools to Workplace, which will enable users to live-stream from their desktop with professional video tools. Users can also opt for automatic captions for live videos in English, French, German, Italian, Portuguese and Spanish.What’s more Facebook also noted that the demand for Oculus Quest, its virtual reality software platform has grown and is now used for professional training and virtual meetings by the likes of Nestle Purina, Hilton (HLT) hotel chain and the Johnson & Johnson (JNJ) Institute.The company updated that Work Groups, which is a type of Facebook Group to connect people with their co-workers, has over 20 million monthly active users after just six months.Shares in Facebook rose 1.5% to $234.91 at the close on Friday extending its rally to a staggering 60% since mid-March.In light of the recent rally, the $240.43 average price target by analysts implies limited upside of 2.4% in the coming 12 months. (See Facebook stock analysis on TipRanks).TipRanks data shows that overall Wall Street analysts have a bullish call on Facebook shares. A stellar 33 out of 36 analysts have a Buy rating on the stock with the rest keeping a Hold rating for now. Related News: Facebook-Backed Reliance Launches Powerful Online Grocery Service In India Facebook Rolls Out Online Shopping Platform For Businesses Microsoft Launches Cloud-Based Platform For Healthcare Organizations More recent articles from Smarter Analyst: * Lufthansa Clinches $9.8 Billion Bailout Deal With German Government * Regeneron To Repurchase $5 Billion Stake From Sanofi * Gates Foundation Buys Up Amazon, Apple, Twitter Stock; Trims Berkshire Hathaway Stake * Earnings: RBC Forecasts Choppy Results For Dell This Thursday
Reliance Industries has now launched its JioMart online grocery service across cities in India, with their new JioMart website also going live.The service is a tie-up between Reliance Retail, India’s largest retailer in terms of revenue, and telecom venture Reliance Jio Platform which boasts 388M subscribers.“Big town or small, JioMart delivers in over 200 towns, starting today” tweeted Damodar Mall, head of the company’s grocery retail unit, late on Saturday.He also took the opportunity to add: “Never waste a crisis, they say! A wise colleague mentioned today, ‘Alibaba also flourished starting from the SARS crisis.’” Customers will have to pay a fee of Rs 25, but only if the order value is less than Rs 750.The move will place JioMart in direct competition with Amazon (AMZN) and Walmart’s (WMT) Indian grocery service, Flipkart.Last month Reliance initiated a pilot grocery service in three suburbs of Mumbai, with a special WhatsApp ordering system. The announcement followed the news that social media giant Facebook (FB) had snapped up a 9.99% stake in Reliance Jio for $5.7B.“You can browse shops and talk to the shop owner. And ultimately, where we do want to take this flow is for you to be able to place your orders,” Ajit Mohan, a Facebook VP, told TechCrunch at the time. WhatsApp has 400M users in India, making it a powerful tool for the grocery market, especially as it grows closer to launching its own in-chat payment feature.Facebook currently scores a bullish Strong Buy Street consensus, with 33 recent buy ratings and only 3 hold ratings. Meanwhile the average analyst price target stands at $240 (2% upside potential), with shares up 14% year-to-date. (See FB stock analysis on TipRanks).“Fundamentally, there’s a lot to look forward to – the increase in engagement across FB’s platforms potentially enabling an acceleration in Revenue growth, signs of path to WhatsApp monetization (in part with JioMart integration in India), Instagram commerce/Checkout, and Payments & AR/VR (Oculus)” RBC Capital analyst Mark Mahaney wrote recently. He has a buy rating on the stock and $271 price target.Related News: KKR Invests $1.5 Billion in Reliance’s Jio Platforms In Biggest Deal In Asia Facebook Invests An Eye-Watering $5.7B in India’s Jio Platforms Watch Out Amazon, Facebook is Coming for You More recent articles from Smarter Analyst: * Lufthansa Clinches $9.8 Billion Bailout Deal With German Government * Regeneron To Repurchase $5 Billion Stake From Sanofi * Gates Foundation Buys Up Amazon, Apple, Twitter Stock; Trims Berkshire Hathaway Stake * Earnings: RBC Forecasts Choppy Results For Dell This Thursday
KKR & Co. (KKR) said it will inject $1.5 billion in Reliance Industries’ Jio Platforms Ltd., its biggest investment in Asia.As result of the transaction, which is still subject to regulatory approvals, KKR will own a 2.32% equity stake in Jio Platforms on a fully diluted basis. The deal values Jio Platforms at an equity value of about $65 billion.Jio Platforms is an Indian telecommunications company that operates a national LTE network with coverage across all 22 telecom circles with more than 388 million subscribers.“Few companies have the potential to transform a country’s digital ecosystem in the way that Jio Platforms is doing in India, and potentially worldwide,” said Henry Kravis, Co-Founder and Co-CEO of KKR. “Jio Platforms is a true homegrown next generation technology leader in India that is unmatched in its ability to deliver technology solutions and services to a country that is experiencing a digital revolution.”This marks the 5th investment for Jio over the past month by large corporates, including Silverlake and Facebook (FB), taking the total to over $10 billion.India has been a key strategic market for KKR with a history of investing in the country since 2006. The firm has in recent years invested over $30 billion (total enterprise value) in tech companies, and today its technology portfolio has more than 20 companies across the technology, media and telecom sectors.Shares in KKR have been on a steep recovery path soaring 45% in the past two months and were trading at $26.84 as of Friday's close.Earlier this month, five-star analyst Chris Kotowski at Oppenheimer remained bullish on the stock with a Buy rating and a $34 price target, saying that the private equity firm is a “very compelling investment at 9.0x enterprise value (ex net cash & investments)”.“We think there is significant upside to distributable earnings over time as there is ample room for the real asset and public market platforms to grow, balance sheet investment to be monetized and positive outlook regarding base management fee growth on funds associated with the next-generation flagships and other associated strategies,” Kotowski wrote in a note to investors.Turning now to the rest of the Street, TipRanks data shows that Kotowski's bullish outlook is shared by another 8 analysts who have a Buy rating on the stock, while 2 are sidelined with a Hold rating adding up to a Strong Buy consensus. Despite the recent rally, the $31.73 average price target implies shares still have room to gain 18% in the coming 12 months. (See KKR stock analysis on TipRanks). Related News: Beleaguered Hertz Sinks 36% In After-Market On Bankruptcy Protection Filing Facebook Invests An Eye-Watering $5.7B in India’s Jio Platforms Nvidia Sinks Despite Stellar Earnings; Top Analyst Says Buy On Any Weakness More recent articles from Smarter Analyst: * Lufthansa Clinches $9.8 Billion Bailout Deal With German Government * Regeneron To Repurchase $5 Billion Stake From Sanofi * Gates Foundation Buys Up Amazon, Apple, Twitter Stock; Trims Berkshire Hathaway Stake * Earnings: RBC Forecasts Choppy Results For Dell This Thursday
(Bloomberg) -- Reliance Industries Ltd. has started testing its online grocery shopping portal across India, still under a nationwide lockdown to control the spread of the coronavirus.JioMart is now delivering in more than 200 cities, Damodar Mall, the chief executive officer of Reliance Retail’s grocery business said in a tweet. JioMart last month started a pilot project serving users in three neighborhoods surrounding Mumbai.Read here: Ambani Tests WhatsApp-Backed Online Store in Locked-Down IndiaThe soft launch of JioMart takes Reliance Chairman Mukesh Ambani, also Asia’s richest man, one step closer to taking on Amazon.com Inc. and Walmart Inc.’s Flipkart in an e-commerce market that KPMG says is likely to grow to $200 billion by 2027.A Reliance spokesperson declined to comment on the JioMart launch.The JioMart shopping app is available via Facebook Inc.’s WhatsApp, which in India has about 400 million users. Facebook has said it expects the partnership with JioMart will help make WhatsApp the primary way small businesses connect with customers.New York-based KKR & Co. on Friday became the latest private equity firm to invest in Jio Platforms Ltd., the digital services holding company controlled by Reliance. KKR will pay 113.7 billion rupees ($1.5 billion) for a 2.3% stake in Jio Platforms.Ambani has been selling stakes in Jio Platforms as he tries to bring Reliance’s net debt of more than $20 billion down to zero before March 2021. Reliance wants to shift away from oil and petrochemicals toward faster-growing consumer businesses.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]
(Bloomberg Opinion) -- The coronavirus has disrupted the world in very large ways. While that battle has been waged, however, another event has almost been missed: the birth of a new kind of fiat currency, which could forever reshape the relationship between money, economic power and geopolitical clout. An official Chinese digital yuan, more than five years in the making, is now in pilot runs to slowly start replacing the physical legal tender. If the experiment succeeds, this new cash, valued the same as the familiar banknotes bearing Mao Zedong’s image, will become the world’s first sovereign token to reside exclusively in the ether.The trials are taking place just as the blame game around the coronavirus deepens mistrust between the U.S. and China. With President Donald Trump warning that Washington would respond if Beijing intervenes against protests and democratic movements in Hong Kong, chances of a detente from last year’s trade war are fading.Outside the People’s Republic, the big question is if the digital yuan is a challenger to the dollar. Within China, though, there’s a more mundane explanation for why Beijing wants to turn banknotes in circulation into virtual tokens. Chinese consumers have bypassed both computers and credit cards to embrace mobile payment apps, which have gone on to spawn large money-market funds investing in high-yielding wealth-management products. This has led to the accumulation of risks in opaque shadow banking. Bringing them out in the open requires a leg up for traditional lenders in payments, an area where financial technology has left them far behind. The digital yuan, which will be pushed out to consumers via banks, seeks to restore this missing balance; it will allow authorities to “regulate an overstretched debt market more effectively,” says DBS Group Holdings Ltd. economist Nathan Chow.Still, there’s also a power play. It isn’t a coincidence that China’s project picked up speed last year as Facebook Inc. announced Libra. The proposed stablecoin promised to hold its value against a basket of major official currencies rather than gyrating wildly like Bitcoin. When it looked like regulators in the U.S. and elsewhere would nix this synthetic global cryptocurrency, the Libra Association curbed the scope of its undertaking. But the idea of “a regulated global network for cost-effective retail payments,” as described by Singapore state investor Temasek Holdings Pte, a new member of Libra’s Geneva-based governing body, remains alive. For Beijing to shake the dollar’s hegemony, it has to pre-empt Silicon Valley from taking the pole position. Hence the hurry for China’s test runs. According to media reports, half the May transport subsidy for Suzhou municipal employees will be in the form of digital currency electronic payment, or DCEP, as it’s being called in the absence of a catchier moniker. The pilot plan in Xiong’an, a satellite city of Beijing, includes coffee shops, fast food, retailers, theaters and bookstores, Goldman Sachs Group Inc. has noted. The other trials are reserved for Chengdu and Shenzhen. Thanks to Alipay and WeChat Pay, 80% of Chinese smartphone users whip out their mobiles to make payments, more than anywhere in the world. To them, the DCEP wallets being provided by the big four state banks should seem much the same. But there are differences. In this new system, a low-value transaction can go through even if both parties are offline. Also, this is sovereign liability, safe if an intermediary goes bankrupt. The big four lenders — and later fintech firms — will distribute the tokens, but the funds won’t reside in bank accounts. This will be unlike existing payment apps that only move one institution’s IOUs to another. Beijing was going to launch the digital money even before the pandemic. However, adoption could be faster now because of people’s fear of catching an infection from handling cash. Also, it’s possible to trace in real time whether an anti-virus subsidy, given out in tokenized form, is reaching the target. Once it has, the tracking would be “turned off” to ensure corporate and household spending stays anonymous, Goldman says. Strictly speaking, though, the anonymity of cash will no longer exist. Authorities can look under the hood of pseudonymous transactions for unwanted activity, an outcome far removed from the vision that drove libertarians (and money launderers) to cryptocurrencies in the first place. With the outbreak giving legitimacy to intrusive physical contact tracing, the case for financial tracing gets even stronger. Exchange of digital yuan between customers and merchants will pop up on a centralized ledger, and go through far more swiftly than in Bitcoin-style setups that rely on widely distributed ledgers of asset ownership. Every nation projects power when others desire its money — something that costs the home country nothing to produce. But as with any digital network, the sovereign tokens that take off first could end up winning disproportionately. The digital yuan could find customers overseas, especially in places where China is making belt-and-road investments. For one thing, they wouldn’t have to pay banks fat fees for running the $124 trillion-a-year business-to-business international transfers market.By distributing digital currency through banks, China has given its big institutions a chance to match the payment technology of fintech rivals. But it’s possible that a central bank in another country would bypass intermediaries altogether, potentially making the state the monopoly supplier of money to retail customers. That, as I wrote in December, could upend banking. The digital yuan may have started modestly, but it might pave the way for changes that are both ambitious and long outlast the coronavirus. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Mike Schultz has gone viral for his roughly 50-pound weight loss after spending weeks on a ventilator
The German automaker initially said critics ‘misunderstood’ the Instagram clip which has been pulled
Mark Zuckerberg says he expects about half of Facebook Inc.’s employees to work from home five to 10 years from now, but there’s a catch for those expecting to take their fat Silicon Valley salaries and live like kings in a rural area.
If you rebuild the workplace after COVID-19, will the workers ever come back? In Silicon Valley, the answer from many tech companies is that many won’t, and maybe that is a good thing.
(Bloomberg) -- Twitter Inc. and Facebook Inc.’s WhatsApp are in the firing line as Europe’s leading privacy watchdog for U.S. tech giants edges closer to delivering its first major sanctions under the region’s tough data-protection rules.The Irish Data Protection Commission said on May 22 that it finalized a draft decision linked to a data breach at Twitter and has asked its peers across the European Union for their sign-off.The regulator said it’s also completed a draft decision in a probe of WhatsApp’s transparency around data sharing. The Facebook service will be asked to give its comments on any proposed sanctions before EU counterparts can weigh in.The Irish authority’s probes have been piling up since the bloc’s tough General Data Protection Regulation took effect in May 2018 -- but with no final decisions to date. The regulator is the lead data protection authority for some of the biggest U.S. tech companies, including Twitter, Facebook, Google and Apple Inc.GDPR empowered regulators to levy penalties of as much as 4% of a company’s annual revenue for the most serious violations. The biggest fine to date was a 50 million-euro ($54.5 million) penalty for Google by France’s watchdog CNIL.The Irish regulator said it has also made progress in a number of its other pending cases, including an investigation into obligations of Facebook’s local unit “to establish a lawful basis for personal data processing,” adding that this “inquiry is now in the decision-making phase.”Twitter and WhatsApp representatives declined to comment on the Irish probes.While sanctions in the two cases wouldn’t be the first under the new GDPR rules, they will be the first to test the cooperation between all 27 EU data authorities. Due to the EU-wide effects of the alleged violations in the two cases, the Irish regulator has to share its draft decisions with other regulators, allowing them to weigh in and either approve or object to its findings.(Updates with company response in seventh paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The social network has painted a picture of a virtual workforce flanked by VR headsets, Portals and Facebook's productivity tools.
Such is the new world of tech conferences in the age of COVID-19. They’ve gone all-digital, like Build and GTC Digital, and may never be the same. Absent a vaccine, the days of thousands of people herded into hotel ballrooms and convention centers like cattle, sharing cabs and eating in cramped quarters, are gone.
Facebook (NASDAQ: FB) Shops, the new online shopping platform just launched by the social media giant, has been a long time coming. Management had dropped a number of hints on the last earnings call about a new online shopping platform. As COVID-19 forced a number of businesses to close their brick-and-mortar doors, Facebook has set up tools for them to sell gift cards, allowed them to hold fundraisers, and set up a Business Resource Hub to help them with online sales and other needs.
Hotels, retailers and other profit-minded tenants are falling behind on rent at a torrid pace during the pandemic, pushing commercial real estate loans in ‘special servicing’ to $32 billion in May, more than double the late-February tally, according to Moody’s Investors Service.
As many on Wall Street were running for the exits in March, some of the best investors in the world, including Seth Klarman, Bill Ackman, David Einhorn, and Bruce Berkowitz, were scooping up deals. Here's why they saw value in Facebook (NASDAQ: FB), Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), and Kraft Heinz (NASDAQ: KHC) during the recent bear market.
GMO’s Ben Inker gave Barron’s an exclusive on why he has dramatically reduced the $60 billion firm’s stock allocation, and where there still might be a little bit of value
So far, there is no “office apocalypse.” Most tenants are just looking for short-term rent relief.
After plunging 34% from its all-time high as fears rose over the Covid-19 outbreak, Google stock has clawed back. It may soon face antitrust litigation as battles with Amazon, Facebook intensify.
Amid a global pandemic, the sports memorabilia market has "increased exponentially."