190.24 +0.10 (0.05%)
After hours: 7:59PM EDT
|Bid||189.99 x 800|
|Ask||190.24 x 800|
|Day's Range||188.15 - 191.10|
|52 Week Range||123.02 - 208.66|
|Beta (3Y Monthly)||1.28|
|PE Ratio (TTM)||32.16|
|Earnings Date||Oct 28, 2019 - Nov 1, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||235.55|
Joel Flory, the CEO and co-founder of popular photo-editing app VSCO, joined The Final Round Tuesday to discuss how his app addresses criticisms of social media, including a “compare culture” that he says focuses too much on likes and comments.
Facebook CEO Mark Zuckerberg is in Washington, D.C. today talking about internet regulation. Last night Zuckerberg had dinner with a handful of senators, which was organized by Sen. Mark Warner, who claims to have some harsh criticism of Facebook. Yahoo Finance's Jessica Smith, Adam Shapiro and Julie Hyman report.
The Senate’s most vocal critic of the tech industry offered a challenge Thursday to Facebook CEO Mark Zuckerberg: Sell your WhatsApp and Instagram properties to prove you’re serious about protecting data privacy.
U.S. President Donald Trump and Facebook Chief Executive Mark Zuckerberg had a "good, constructive" meeting at the White House on Thursday, the social media company said in a statement. The White House did not immediately respond to a request for comment. "Mark is in Washington, D.C., meeting with policymakers to hear their concerns and talk about future internet regulation.
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Microsoft (MSFT) stock appears to be one of safest mega-cap tech buys out there at the moment, even at its new all-time highs. And it just raised its dividend and announced a new share buyback program.
(Bloomberg) -- A Facebook Inc. employee has died after jumping from the fourth floor of one of the company’s buildings at its Menlo Park, California, headquarters.A Facebook spokesperson confirmed the incident, and said the company plans to contact the worker’s family. A press release from the City of Menlo Park said there was “no foul play involved involved in this apparent suicide.” The employee was pronounced dead at the scene, according to the city’s police department.“We were saddened to learn that one of our employees passed away at our Menlo Park headquarters earlier today,” a company spokeswoman said in a statement. “We’re cooperating with police in their investigation and providing support to employees. While the family is being notified, we have no information to share. We hope to provide an update when we learn additional information from law enforcement.”The worker was a full-time software engineer at Facebook, according to a person familiar with the situation. (Updates with description of employee in final paragraph)To contact the reporters on this story: Kurt Wagner in San Francisco at email@example.com;Sarah Frier in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Facebook Inc. Chief Executive Officer Mark Zuckerberg clashed with Republican Senator Josh Hawley over his company’s record on privacy and safeguarding user data as the social media platform comes under unprecedented scrutiny in Washington.“I said to him, ‘prove that you are serious about data, sell WhatsApp, and sell Instagram.’ That’s what they should do,” Hawley said to reporters after meeting with Zuckerberg in Washington Thursday. “I think it’s safe to say he was not receptive to those suggestions.”Zuckerberg is in the nation’s capital defending his company’s practices to some of his harshest critics over their concerns that he isn’t taking strong enough action to prevent voter manipulation on the platform ahead of the 2020 presidential election, along with criticisms over the company’s handling of user data and curbing online violence.Hawley said he had a “very frank discussion” with Zuckerberg on the company’s record on privacy and political bias and said he thinks Facebook should be subject to independent audits of its content reviews. Hawley said he also pressed Zuckerberg for “a wall” between Facebook and its other platforms and Zuckerberg said no.Facebook is creating an oversight board to review what content should be policed and just released a charter outlining more details about the group earlier this week.Zuckerberg’s visit to the capital also included dinner Wednesday with Senator Mark Warner, the ranking Democrat on the Intelligence Committee and Senator Richard Blumenthal, a Connecticut Democrat, along with other lawmakers.“Mr. Zuckerberg acknowledged that self-regulation is not going to cut it,” Warner, a Virginia Democrat, said to Bloomberg Television. “I think he realizes that the status quo and the days of the wild, wild West are over.”Warner helped organize the dinner with lawmakers at Facebook’s request, according to Rachel Cohen, a Warner spokeswoman. They discussed a wide range of issues “including the role and responsibility of social media platforms in protecting our democracy, and what steps Congress should take to defend our elections, protect consumer data, and encourage competition in the social media space,” Cohen said in a statement.Facebook is battling criticism from lawmakers over its handling of users’ personal information, the proliferation of violent content and election interference by foreign operatives. In response to the growing scrutiny, Zuckerberg has called for the passage of baseline regulations governing harmful content online.Democratic lawmakers have attacked Facebook’s handling of political content, including the way foreign operators have used the platform to sow discord in American public life. A report by Special Counsel Robert Mueller described how a Russian entity “carried out a social media campaign that favored presidential candidate Donald J. Trump and disparaged presidential candidate Hillary Clinton.”Republicans accuse it of anti-conservative bias. Hawley said that Zuckerberg acknowledged that the company has been struggling with bias for years, and said the censorship of anti-abortion group Live Action was a mistake.“He said that they made a mistake, that there was clearly bias,” Hawley said.Facebook spokesman Andy Stone clarified that Zuckerberg told Hawley there was bias in the fact-checking process, which includes third-party partners, not at Facebook itself. Zuckerberg also told Hawley that for years Silicon Valley has struggled with perceptions of bias and that the industry needs to be aware of the issue, Stone added.The company has found no evidence of systemic anti-conservative bias on Facebook, where many of the top publishers are conservative.Blumenthal said in a statement that he also had a “serious conversation” with Zuckerberg at the dinner, which took place at Ris, an upscale American bistro, about the “challenges of privacy” facing Facebook, which has been ensnared in controversy over the way it has shared users’ information with third parties.“It’s no secret that I’ve been a tough critic of Facebook, so I was glad for the opportunity to discuss my concerns directly with Mr. Zuckerberg,” he said.Zuckerberg also met with Senators Maria Cantwell, a Democrat from Washington state, Utah Republican Mike Lee and Arkansas Republican Tom Cotton. Friday the CEO is slated to meet House Intelligence Chairman Adam Schiff of California.“One of the most pressing issues for me is the threat posed by deepfake technology and it’s potential misuse during the presidential campaign,” Schiff said in an interview with Bloomberg Government.Zuckerberg isn’t meeting with House Speaker Nancy Pelosi, according to a person familiar with the matter. Democrats castigated the company earlier this year after it failed to remove a doctored video of Pelosi. She has snubbed at least two meetings with him, Bloomberg has reported. He also isn’t meeting several high-profile Republicans who are working on a federal privacy bill, including Senator Roger Wicker. Marsha Blackburn said he’d reached out to her but her travel schedule didn’t allow a meeting.Zuckerberg doesn’t appear to be meeting with government officials conducting inquiries. The Federal Trade Commission has opened an antitrust probe of the company, and New York is leading a coalition of states in a wide-ranging investigation of the social media giant. In July, Facebook agreed to pay $5 billion to settle FTC allegations it violated users’ privacy.The House Judiciary antitrust subcommittee is also investigating competition issues in the technology industry. Last week, the panel sent a letter to Facebook seeking information about its acquisitions as well as communications from Zuckerberg, Chief Operating Officer Sheryl Sandberg, former general counsel Colin Stretch and policy chief Kevin Martin.\--With assistance from Billy House, Joe Light, Ben Brody and Kurt Wagner.To contact the reporters on this story: Naomi Nix in Washington at firstname.lastname@example.org;Rebecca Kern in Arlington at email@example.com;Steven T. Dennis in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Sara Forden at email@example.com, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Bay Area activist Shannon Coulter announced the campaign, Force the Issue, on Tuesday in order to pressure 900 large, publicly traded companies to stop requiring their employees to sign off on arbitration clauses agreeing not to sue.
Instagram is cracking down on what influences its youngest users. The Facebook-owned (FB)site’s advertising policies have never officially allowed for sponsored posts to push certain weight loss products and cosmetic procedures — but that hasn’t stopped A-listers like the Jenners and the Kardashians from sharing #ad posts of diet teas and appetite-suppressing lollipops. “If a post promotes the use of certain weight loss products or cosmetic procedures, and has an incentive to buy or includes a price, we will restrict people we know to be under 18 from seeing that post,” according to the Instagram (and Facebook) policy shared with MarketWatch.
At least three more major companies are rethinking plastic. U.K. restaurants of the Burger King chain will remove all plastic toys from children’s meals starting this week to help reduce waste. In early 2020, the chain will also run a trial offering customers a choice between a book and a plastic toy.
The probe into Big Tech continues.Last week, investigators from the House Judiciary Committee wrote a letter to Facebook (FB), Alphabet's Google (GOOG), Apple (AAPL) and Amazon (AMZN), asking for documents for its “top-to-bottom” investigation. Members of the committee believe these documents will help provide information on whether these companies’ practices are harming customers or violating antitrust law. Facebook stock didn't even flinch, and analysts still see the social giant as a very compelling investing opportunity. Out of 34 analysts polled in the last 3 months, 30 are bullish on Facebook stock while only 4 remain sidelined. With a return potential of nearly 25%, the stock’s consensus target price stands at $236.68. (See FB's price targets and analyst ratings on TipRanks)On Facebook, the committee is focusing on its acquisitions of Whatsapp and Instagram, including acquisition-related internal communication, as well as financial documents on Facebook and its products. As the House also wants to look at Facebook Payments, Evercore analyst Kevin Rippey says this “suggests regulators are focused on Libra, and potentially getting ahead of an expansion of FB’s payments initiatives.” Rippey believes investors should “keep an eye on” the investigation into Onavo data, a web analytics company Facebook acquired in 2013. The analyst thinks data from the app “gave FB huge swaths of intelligence regarding user’s mobile behavior, including engagement on competitors’ apps,” and has allegedly provided the company “an edge in responding to fast growing rivals with similar look-a-like products.” Rippey says "Onavo could come under scrutiny, as regulators were likely unaware of how Onavo data could be utilized by FB.” With the stock off 45% year-to-date, Rippey reiterates an Outperform rating on Facebook stock, with $230 price target, which implies nearly 21% upside from current levels. (To watch Rippey's track record, click here)With the House investigating Facebook for possible antitrust violations, as well as increased privacy regulation on Big Tech, Facebook actually recently made headlines for making it easier for its users to protect their data. The new “Off-Facebook Activity” tool was recently released in Ireland, Spain and South Korea, and allows users to disconnect Facebook’s tracking of users on non-Facebook sites. But while it is a step in the right direction, users must manually turn on the tool, which will discourage many from using the tool. All in all, Facebook is battling regulators on multiple fronts, including antitrust and privacy, and Big Tech is routinely and increasing receiving negative attention from presidential candidates in the Democratic party. But Facebook stock continues to be one of Wall Street's favorites, and is up nearly 40% for the year. Crowd InsightsGranted, not everyone is enthusiastic about Facebook stock. TipRanks shows that individual investors have been, on net, pulling back from Facebook shares over the last 30 days.
If recent reports are to be believed, China’s central bank is on the brink of launching a digital version of the yuan. According to a Forbes article late last month, the digital edition of the national currency could go live as soon as Nov. 11, coinciding with Singles’ Day, a popular Chinese shopping holiday. “Digital currency” is a broad term, referring to anything from a US dollar on PayPal to a unit of bitcoin.
The Fed cuts interest rates again, but what's next? Why Microsoft (MSFT) stock surged. The latest from AT&T (T) and FedEx (FDX). And why Skechers (SKX) stock is a Zacks Rank 1 (Strong Buy) right now - Free Lunch
Facebook's Mark Zuckerberg met with President Donald Trump on Thursday during a fence-mending visit to Washington where the chief executive faced aggressive questioning from lawmakers about the social network's failures to protect consumer privacy. Trump posted a photo with Zuckerberg on Twitter and called their session a "nice meeting" in the Oval Office. Facebook said the tech executive "had a good, constructive meeting with President Trump at the White House today." Neither side disclosed specifics of their discussion.
Facebook’s Libra is not intended to challenge the “monetary sovereignty of nations,” according to cofounder and Calibra CEO David Marcus.
Video-streaming space gets increasingly crowded as Comcast and Facebook join the bandwagon. However, intensifying price war and fight for exclusive rights are threats.
When it comes to 5G stocks, I prefer a simple, elegant approach that has already proven itself in every other tech boom since the 1980s.There will be a lot of winners in the race to 5G. For example, one stock that could be up big in the years ahead is Nokia (NYSE:NOK), one of the key makers of the hardware critical to the technology.But as 5G takes the world by storm and ushers in a new technological revolution, there's about to be a WAY bigger opportunity than we could capture by simply buying Nokia stock. The infographic below shows how 5G compares to 4G… how that compared to 3G… and so on.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThose Nokia flip-phones had their heyday back at 1G and 2G. Then 3G was what allowed Apple (NASDAQ:AAPL) to take the world by storm with the iPhone. 4G made social media and streaming movies possible - you're welcome, Facebook (NASDAQ:FB) and Netflix (NASDAQ:NFLX).As you see, 5G is much bigger. The speeds are so much faster that you could think of 5G as the fuel of the future.So what's the engine? Microchips. Every company that sells you a 5G device first needs someone to supply the chips. 5G chips will send and receive massive amounts of data… and that's where I'd invest. * 8 Dividend Stocks to Buy for a Recession But actually, chipmakers are not just 5G stocks. They're almost always the secret to getting rich with new technologies. Just look at the personal computer (PC) revolution, for example.During the rise of PCs in the '80s and '90s, chipmakers went up by almost unfathomable amounts. Intel (NASDAQ:INTC), which supplied the much-needed chips for computer processing speed, shot up by an astounding 7,951% from 1985 to 2000:Then, during the explosive growth of the internet in the 1990s, Cisco Systems (NASDAQ:CSCO), which manufactures the vital processing chips for internet routers, soared an impressive 4,988%:Then came smartphones and 4G in the 2010s. As you see below, chipmakers led all other industries during the 4G build out. Semiconductors returned 237% - more than twice what mobile phones themselves delivered.Keep in mind, these were returns from the broad sectors. But just look at how well these individual chip companies did during the smartphone build out: * Broadcom (NASDAQ:AVGO), a chipmaker based in San Diego, California, handed early investors 1,482% during the smartphone build out. * Skyworks Solutions (NASDAQ:SWKS), another chipmaker based in Woburn, Massachusetts, returned 503% to early investors. * NVIDIA (NASDAQ:NVDA), based in the heart of Silicon Valley, gained 1,030%! * Micron Technology (NASDAQ:MU) from Boise, Idaho, gained 260%, and NXP Semiconductors (NASDAQ:NXPI) from the Netherlands returned 845%.It's also worth pointing out that Apple -- the world's biggest, wealthiest company and one of the leaders in smartphones -- returned roughly 582% over that same period. The difference is why you need chipmakers when a tech revolution occurs. That's true of 5G, too, and I tell you exactly which chipmaker I recommend now (and why) in my new special report, The 5G Chip That Will Spark a $53 Trillion Revolution.By investing in chipmakers, you're investing in every laptop, tablet, car, smartphone, and any other electronic device of the day. In fact, each one has multiple chips inside! For example, one chipmaker supplied FIVE chips for every iPhone X. So, for every phone Apple sold, this company sold five chips.Now just think about the hundreds of billions of new chips that will need to be created for the Internet of Things (IoT). Tech companies are hard at work, connecting every physical object on the planet to the internet. Tech insiders estimate more than 1 trillion devices will be connected over the next 10 to 15 years.Once you're up to speed on the full scope of the opportunity in 5G stocks, you'll want to own one specific chipmaker. This company is one of the best in the world at what it does, and I bet you've never heard of it. The 5G Chip That Will Spark a $53 Trillion RevolutionI mention all this because I think this under-the-radar company won't stay that way for long. The financial media is already calling this company "the next hot 5G stock."The company has over 10,000 patents and has been named a Top 100 Global Innovator for seven consecutive years. Its success has led to long-term partnerships and exclusive deals with the likes of Samsung and Oracle (NYSE:ORCL).Even the 5G cell service from Verizon (NYSE:VZ) and AT&T (NYSE:T) will depend on this company's chips. Everything, and I mean EVERYTHING, connected to the internet via 5G will either directly or indirectly use the same type of chip this company makes.It's also a well-established company that's been around since the 1990s. Not only did it survive the dot-com crash, it went from a $2 billion market cap then… to a $17 billion market cap today. And thanks to its 5G advantage, it's just getting started.Take just a small stake in this stock. I think it's the single best (and easiest) way to capture the full upswing of 5G wireless.Remember, the rollout of 5G is going to be MUCH bigger than 4G.4G was an improvement. 5G is a game changer.That's why every tech insider and analyst at my firm is excited about this once-in-a-lifetime opportunity. And right now is the perfect time to stake a claim.Click here to claim your access to my newest investment report, The 5G Chip That Will Spark a $53 Trillion Revolution.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA) and +1,044% in Tesla (TSLA), just to name a few. Click here to see what Matt has up his sleeve now. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Dividend Stocks to Buy for a Recession * 10 Companies Making Their CEOs Rich * The 7 Best S&P 500 Stocks of 2019 So Far The post Which 5G Stocks will Be the Biggest Winners? appeared first on InvestorPlace.