Facebook could lose $151 billion in market capitalization today
30 July, 2018, 21:30
Shareholders often sue companies in the U.S. after unexpected stock price declines, especially if the loss of wealth is large. At that point, the stock was still recovering from an earlier battering over a major privacy scandal.
Currently, its stocks are at US$174.89 down 0.78 per cent.
According to Reuters, shareholder James Kacouris filed a complaint in the Manhattan federal court accusing both Zuckerberg, CFO David Wehner and Facebook of making "misleading statements about or failing to disclose slowing revenue growth, falling operating margins and decline in active users".
Company shares saw a massive drop in March in the wake of the Cambridge Analytica data breach scandal.
The company also said revenue growth from emerging markets and the company's Instagram app, which has been less affected by privacy concerns, would not be enough to fix the damage.
After a surprisingly weak growth forecast in this week's earnings report, Facebook's stock price dropped 19 percent. Furthermore, the growth in the number of daily average users is slowing down as well. "Stories", which are short videos posted on users' profiles for a short period of time can't be used as much for advertising as a news feed with a lot more space for additional information. And the increased spending aims, among other things, to prevent a replay of the fake news and propaganda that Russian agents unleashed on an unguarded Facebook in an attempt to sway the 2016 presidential election.
Zuckerberg reiterated in the earnings call last week that the company's major investments in security will lower its profitability.
There are several reasons for the declining revenue growth rate. They have seemed unstoppable, even in the face of regulatory pressure, user dissatisfaction and broader existential questions about their impact on society.
For more than a year already, Facebook and other social media companies have been under fire courtesy of policy makers and regulators.
The Russian military said that IS attempted to bring Israel into conflict with the Syrian regime army by firing across the border. The regime controls nearly all of Sweida province but ISIS retains a presence in desert areas of its north and east.
The sisters were celebrating the birthday of Nia's late boyfriend who drowned two years ago, according to the Sacramento Bee. The victims" cousin, Ebony Monroe, said Wilson was a " beautiful, sweet person' who loved her cousins, makeup and fashion.
In the interview, Pompeo acknowledged that he was not in the room when Trump and Putin met for almost two hours in Helsinki. Donald Trump and Vladimir Putin before their meeting at the Presidential Palace in Helsinki, July 16, 2018.
The protests also demand a "right of return" for descendants of Palestinian refugees to ancestral homes in what is now Israel. A 17-year-old Palestinian crept into the settlement of Adam on Thursday night and stabbed Yotam Ovadia, 31, to death.
Pence's initial announcement of possible sanctions came at the close of a three-day conference on religious freedom. One of Brunson's attorneys is Jay Sekulow, who also represents Trump in the Russian Federation investigation.
US crude was at $68.40 a barrel, down 13 cents by 11 a.m. (1500 GMT), while Brent crude fell 10 cents to $73.35 a barrel. When the deal was scraped off by the Trump and his cabinet in 2018, tensions began to mount between the two countries.
Sounds to me like someone is trying to make up stories in order to get himself out of an unrelated jam (Taxi cabs maybe?). And now Cohen is saying that Donald Trump Jr . did let his father know about that meeting in advance.
The disappointing results came after Facebook has been embroiled in a data scandal affecting millions of users. It would also wipe his US$13.7 billion of gains for the year, leaving him with just less than US$70 billion.
Mollie Tibbetts had been dog-sitting with her boyfriend in the city of Brooklyn when she vanished , according to authorities. The family believes she could have disappeared any time between the evening of the 18th and the morning of the 19th.
Family of Toronto shooter condemns his 'horrific actions'
Gun ownership also requires training, a personal risk assessment, two references, spousal notification and criminal record checks. She had recently graduated from high school and was preparing to study nursing at Hamilton's McMaster University in the fall.
Republican lawmakers move to impeach Rod Rosenstein
Deputy Attorney General Rod Rosenstein (C) holds a news conference at the Department of Justice July 13, 2018 in Washington, DC. Rosenstein, along with FBI Director Christopher Wray , faced dozens of angry Republicans at a House hearing last month.
Cricket star Imran Khan declares victory in Pakistan election
A wild card in the election was the unexpected proliferation of candidates - more than 600 in total - from religious parties. The military has ruled Pakistan through various coups for almost half of the country's history since independence in 1947.
Hamilton retakes lead with victory in Germany
Speaking after the race, Vettel said the small mistake resulted in a huge effect for him as he loses the lead of the championship. But, at the team's home race, Mercedes called off the fight: "Valtteri, this is James (Vowles - chief strategist)".
Wildfires in Greece Kill More Than 70
The fire was quickly fueled by the parched landscape and winds that suddenly kicked up to 50 miles per hour. Jean-Claude Juncker, the European Commission chief, tweeted that the EU "will spare no effort to help".