198.92 -3.44 (-1.70%)
Pre-Market: 4:39AM EDT
|Bid||0.00 x 800|
|Ask||199.77 x 1200|
|Day's Range||200.96 - 204.24|
|52 Week Range||123.02 - 218.62|
|Beta (3Y Monthly)||1.30|
|PE Ratio (TTM)||30.03|
|Earnings Date||Jul 24, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||223.19|
There,Brittany Kaiser, a former employee of Cambridge Analytica, scrawls the nameof the company onto a strut of 'the temple’ that will eventually get burned inthat fiery annual ritual
Apple is reportedly closing in on a deal to buy up Intel’s smartphone modem business. Plus Facebook is set to report earnings after the bell Wednesday. Yahoo Finance Tech Editor Dan Howley, joined 'The Final Round' to discuss.
Facebook's $5B privacy settlement with the FTC could also require the tech giant to create a "privacy committee" in an effort to stop future violations. Yahoo Finance's Adam Shapiro and Julie Hyman discuss with the panel.
Snap Inc. reports earnings on July 23 and new numbers from web analytics firm Similarweb show something to encourage investors.
As big tech faces heightened scrutiny from regulators and lawmakers, the industry is pouring millions into lobbying efforts in Washington. Yahoo Finance’s Jessica Smith joins YFi AM to break it all down.
Facebook revealed its cryptocurrency plans just a month ago, and already it'sthe subject of a wave of fraudulent ads
Facebook's messaging app for under 13s, Messenger Kids -- which launched twoyears ago pledging a "private" chat space for kids to talk with contactsspecifically approved
(Bloomberg) -- The U.S. Justice Department sent the strongest signal yet that it’s prepared to take on technology giants like Facebook and Google, announcing a broad antitrust review into whether the companies are using their power to thwart competition.The department’s antitrust division disclosed plans Tuesday to scrutinize tech platforms following mounting criticism across Washington that the companies have become too big and too powerful. The department didn’t specify which firms it would look at but strongly suggested Facebook Inc., Alphabet Inc.’s Google and Amazon.com Inc. are in the cross-hairs.“The history of these DOJ investigations is that they kill the company that they investigate” as the firm turns its focus to defending itself, said Mark Grady, a law professor at the University of California Los Angeles. “It’s a giant distraction.”The announcement marks latest sign of the escalating pressure coming down on tech giants, from Capitol Hill to President Donald Trump, who accuses the companies of silencing conservative views. The giants of the industry are under fire over massive collection of user data, failing to police content on their platforms, and claims that they are harming competition and reducing choices for consumers.The spotlight on the industry will carry into Wednesday when a record $5 billion privacy fine against Facebook is set to be announced by the Federal Trade Commission for a series of privacy violations.The Justice Department review, led by antitrust chief Makan Delrahim, represents a new level of scrutiny of the industry after news in May that the U.S. antitrust agencies carved up oversight of four tech giants, with the department taking Google and Apple Inc., and the FTC claiming Facebook and Amazon.Companies are now potentially exposed to investigations by both agencies, because their accord calls for separating the scrutiny by business practices, according to two people familiar with the matter. The Justice Department in its statement suggested that possibility because it signaled that it would look at Amazon and Facebook, even though the FTC will be examining those companies under the agreement.Attorney General William Barr encouraged the review of the industry, according to one of the people. He met earlier this year with European Union competition chief Margrethe Vestager, who has slapped Google with record fines over antitrust violations, the person said.The department’s scrutiny comes after repeated attacks on the industry’s biggest names by Trump, who is more outspoken on antitrust than any president in possibly a century, said New York University law professor Harry First.The president repeatedly accuses tech platforms of bias against conservative views, which the companies deny, while directing ire toward Amazon founder Jeff Bezos, threatening his company with antitrust enforcement and higher shipping fees.The antitrust division is already taking steps in its inquiry, hearing out third parties who have complaints about competitive harm, according to the people. Its review will look at concerns raised by consumers, businesses and entrepreneurs about search, social media, and online retail, according to the statement.Amazon, Google, Apple and Facebook Inc. declined to comment on the Justice Department’s announcement.For more: YouTube’s Trampled Foes Plot Antitrust RevengeTech giants are separately contending with a broad investigation by the House antitrust panel led by David Cicilline, a Rhode Island Democrat. Cicilline on Tuesday accused Facebook, Google and Amazon of “evasive, incomplete, or misleading answers” when their executives testified before his committee last week.“We should all welcome greater scrutiny of dominant online platforms,” he said after the Justice Department’s announcement. “Unfortunately, I don’t have a lot of confidence that Donald Trump’s Justice Department will put the interests of working people ahead of billionaires for a change.”Still, the move was cheered by others.“American consumers and news publishers desperately need high tech markets to be more competitive,” said Dina Srinivasan, a former digital advertising executive who wrote a paper titled “The Antitrust Case Against Facebook.”“Increased competition will help to solve the systemic privacy problems that consumers face with companies like Google and Facebook,” she said.While the Justice Department pursues its own review, FTC Chairman Joseph Simons earlier this year formed a task force to investigate conduct in the industry and review past acquisitions to determine whether mergers harmed competition.The efforts put pressure on antitrust enforcers to bring cases against tech companies, said William Kovacic, a former FTC commissioner who is now a professor at George Washington University Law School.“All of this creates momentum. You can only go so far in saying we’re doing investigations, we’re going to do this broad study before you have committed yourself to say we’re going to take enforcement action,” he said. “Can you imagine standing in front of a press conference and saying, never mind, we didn’t find anything?”\--With assistance from Mark Bergen, Vicky Graham and Ben Brody.To contact the reporters on this story: David McLaughlin in Washington at email@example.com;Kurt Wagner in San Francisco at firstname.lastname@example.org;Naomi Nix in Washington at email@example.comTo contact the editors responsible for this story: Sara Forden at firstname.lastname@example.org, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Twitter's (TWTR) second-quarter 2019 results are expected to benefit from its initiatives, including security measures to boost user engagement, despite increasing competition for ad dollars.
Facebook's (FB) second-quarter 2019 results are likely to benefit from aggressive video push, improving ad transparency and increasing monetization opportunities on Instagram.
Dow Jones futures: Amazon, Facebook, Google and Apple fell as the DOJ said will probe Big Tech online dominance. Chipotle Mexican Grill, Snap and Texas Instruments soared on earnings.