241.30 +0.44 (0.18%)
Before hours: 4:54AM EDT
|Bid||0.00 x 900|
|Ask||241.30 x 1300|
|Day's range||238.82 - 247.65|
|52-week range||137.10 - 247.65|
|Beta (5Y monthly)||1.20|
|PE ratio (TTM)||33.05|
|Earnings date||29 Jul 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||247.07|
Facebook has announced that the limp "Oversight Board" intended to help make difficult content and policy decisions will not launch until "late fall," which is to say, almost certainly after the election. You know, the election everyone is worried Facebook's inability to police itself will serious affect. On Twitter, the board explained that as much as it would like to "officially begin our task of providing independent oversight of Facebook's content decisions," it regrets that it will be unable to do so for some time.
Organizers of a Facebook ad boycott vowed to press on with their campaign, saying the social network's top executives had failed to offer meaningful action on curbing hateful content. At a virtual meeting that included Facebook chief executive Mark Zuckerberg, the #StopHateForProfit coalition leaders "didn't hear anything... to convince us that Zuckerberg and his colleagues are taking action," said Jessica Gonzalez of the activist group Free Press, a coalition member. Rashad Robinson, president of the activist group Color of Change, told reporters on a conference call the meeting was "a disappointment."
Facebook announced in May that up to half its workforce is likely to be working from home within the next five to 10 years. There is one caveat: staff salaries could be adjusted to align with the cost of living in their chosen location, meaning potential pay cuts for those considering moving away from its expensive Palo Alto base and other global hubs. Chief executive Mark Zuckerberg told staff via video that the change will come into effect from January.
Facebook keeps telling critics that it is doing everything it can to rid its service of hate, abuse and misinformation. On Tuesday, CEO Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg met with a group of civil rights leaders, including the organizers of a growing advertising boycott over hate speech on Facebook. One of those leaders, NAACP President Derrick Johnson, said Facebook's executives offered little but cheap talk that skirted major commitments to new rules or actions that would curb racism and misinformation on its platform.
More than 900 advertisers have signed on to the "Stop Hate for Profit" campaign, organized by civil rights groups to pressure the world's largest social media network to take concrete steps to block hate speech and misinformation, in the wake of the death of George Floyd in police custody. The Anti-Defamation League (ADL), Free Press, Color of Change and the NAACP met for over an hour via video conference with Facebook executives including Zuckerberg and Chief Operating Officer Sheryl Sandberg to discuss the groups' demands.
Facebook could rally to 300, shaking off a growing boycott by top tier advertisers.
Chief among those apps is TikTok, which is owned by ByteDance. Facebook (NASDAQ: FB) has been monitoring TikTok for years now as it exploded in popularity among teens around the world. India was TikTok's biggest market outside of the country with over 200 million users.
Amazon's (AMZN) Twitch sees an increase in viewer base in second-quarter 2020 on account of lockdowns due to the COVID-19 outbreak.
The civil rights groups that organised the snowballing advertiser boycott against Facebook reacted angrily at what they say was a “disappointing” meeting with top executives who failed to address their demands. Campaigners including Color of Change and the Anti-Defamation League attended an hour-long Zoom meeting with Mark Zuckerberg, Facebook’s chief executive, Sheryl Sandberg, chief operating officer, and Chris Cox, chief product officer, on Tuesday to discuss the boycott — which urges marketers to pull their ad dollars from the company during July over its perceived failure to clamp down on racism and hate speech.
Facebook, Google and Twitter said Monday they have put a hold on requests by Hong Kong's government or police force for information on users, following China's imposition of a sweeping new security law. The pause at leading online social network Facebook and its popular messaging service WhatsApp would remain in place "pending further assessment" of the new national security law, and would include "formal human rights due diligence and consultations with human rights experts," a Facebook spokesman said in a statement.
Democrats and Republicans have voiced increasing antipathy over Section 230 -- and it could mean costly political trouble for Facebook, YouTube and Twitter.
Facebook won't overcome the yawning advertiser revolt in response to hate content overnight, suggests a Goldman Sachs strategist that specializes in tech investing.
Facebook and Twitter have confirmed they have suspended processing demands for user data from Hong Kong authorities following the introduction of a new Beijing-imposed national security law. A spokesperson for Facebook told TechCrunch it will "pause" the processing of data demands until it can better understand the new national security law, "including formal human rights due diligence and consultations with human rights experts." The spokesperson added: "We believe freedom of expression is a fundamental human right and support the right of people to express themselves without fear for their safety or other repercussions."
Social media platforms and messaging apps including Facebook, WhatsApp, Telegram, Google and Twitter say they will deny law enforcement requests for user data in Hong Kong while studying ramifications of a national security law enacted last week. Facebook and its messaging app WhatsApp said in separate statements Monday that they would freeze the review of government requests for user data in Hong Kong, “pending further assessment of the National Security Law, including formal human rights due diligence and consultations with international human rights experts.”
Facebook and its messaging service WhatsApp said Monday they are suspending requests from the Hong Kong government and law enforcement authorities for information on users. The pause will take place "pending further assessment" of a new national security law imposed on Hong Kong by China, and would include "formal human rights due diligence and consultations with human rights experts", a Facebook company spokesman said in a statement.
Facebook, which also owns WhatsApp and Instagram, said in a statement it was pausing reviews for all of its services "pending further assessment of the National Security Law." Google, a unit of Alphabet Inc <GOOGL.O>, and Twitter said they suspended their reviews of data requests from Hong Kong authorities immediately after the law went into effect last week.
Here is a sneak peek into four tech stocks, which hold promise for stellar performances in the upcoming earnings season despite the coronavirus crisis.
Big advertisers are pulling ads from Facebook as part of the first organized boycott against the social media giant -- but will that change the company's outlook?
Facebook, Google and Twitter suspended processing government requests for user data in Hong Kong, on Monday (July 6). The moves come in response to China's establishment of a sweeping new national security law for Hong Kong. And in an illustration of worries about the law, short-form video app TikTok announced -- it would be pulling out of the Hong Kong market. Facebook, which also owns WhatsApp and Instagram, said in a statement that it was pausing reviews of all of its services "pending further assessment of the National Security Law." Google, and Twitter said they suspended their reviews of data requests from Hong Kong authorities immediately after the law went into effect last week. Although the social network declined to comment, Twitter cited quote "grave concerns" about the laws implications. Google said it would continue reviewing Hong Kong goverment requests for removing user-generated content from its services, while Facebook did not respond to a request for comment. Tech companies have long operated freely in Hong Kong, where internet access has been unaffected by the firewall imposed in mainland China, which blocks Google, Twitter and Facebook. Social networks often apply localized restrictions to posts that violate local laws. And in the second half of last year Facebook restricted nearly 400 such pieces of content in Hong Kong. Adding to the Monday announcements -- TikTok, owned by China-based ByteDance, said it would pull out of Hong Kong within days. A source told Reuters that the move was made because it was not clear if Hong Kong would now fall entirely under Beijing's jurisdiction in light of the new law. Asked about the moves by the U.S. tech firms and prospects for media freedom, Hong Kong Chief Executive Carrie Lam said on Tuesday "the law would not undermine human rights and freedoms." Since the law came into force some Hong Kongers have started reviewing or deleting social media posts they thought would be too sensitive. On the streets many Hong Kongers say they're worried about online freedom of expression. "Meanwhile the fear has already spread over Hong Kong about cyber expression, the freedom here." Messaging app Signal, which promises end-to-end encryption, has seen a surge in sign ups in Hong Kong.
Facebook, Google and Twitter have all said they will temporarily block Hong Kong’s authorities from accessing user data, after the semi-autonomous city threatened jail terms against companies that did not comply with a new Chinese national security law. Facebook, which has a global process for government requests, on Monday said it was acting to support the right of people to express themselves “without fear for their safety”. Google said it was reviewing the law, while Twitter said that it had “grave concerns regarding both the developing process and the full intention of this law”.
Facebook (NASDAQ: FB) is shutting down two of its apps this month, Lasso and Hobbi. Lasso was a clone of TikTok, providing tools to create and share short videos. Hobbi looked a lot like Pinterest (NYSE: PINS), giving users a place to collect images and ideas related to their hobbies.