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steven36 posted a topic in General NewsKey Points Uber shares rose 9% on Monday on optimism that a Covid-19 vaccine is on the way. Last week, the stock jumped 34%, as investors cheered the passage of California’s Proposition 22, which will allow Uber to keep classifying drivers as contractors. Revenue has been slumping and losses mounting, but the company says its margins are headed in the right direction. Investors are suddenly optimistic about Uber. Shares
steven36 posted a topic in General NewsFacebook Inc. shares were down sharply Thursday on a report the Federal Trade Commission is weighing a preliminary injunction as early as next month against the social-networking giant amid antitrust concerns over how its products interact. Federal regulators are closely monitoring how Facebook integrates its apps – specifically, Messenger, Instagram, and WhatsApp – or allows them to work with potential rivals, according to a Wall Street Journal report, citing unnamed sources familiar with the matter. If it were to act, the FTC could seek to block Facebook
(Reuters) - Shares of Facebook Inc rose nearly 5% on Thursday, a day after the social network reported its third straight rise in the pace of quarterly sales growth as well as an uptick in users in some of its most lucrative markets. Wall Street analysts gave a more mixed reception to the earnings report, with at least nine analysts raising their price targets on the stock, while at least five trimmed. But if the share gains hold through Thursday’s session, it would translate to a nearly $26 billion gain in value for the Silicon Valley firm. Th
Facebook shares plummeted more than 18 percent in midday trading on Thursday, erasing over $110 billion from the social media giant’s market value. The sharp stock decline came a day after Facebook, one of the largest publicly traded companies in the United States, reported disappointing second-quarter earnings. Of particular concern to investors was Facebook’s warning that revenue growth rates would continue to slow sharply in the coming quarters. “Management commentary about decelerating topline growth during a quarter where the com