Dow futures edge lower as investors await Facebook, Microsoft earnings

U.S. stock index futures were slightly lower Wednesday morning, as market participants looked ahead to another deluge of corporate earnings. ET, Dow futures slipped 17 points, indicating a negative open of more than 28 points. Futures on the S&P and Nasdaq were both seen marginally lower. Market focus is largely attuned to earnings season, after better-than-feared figures from major companies in the previous session helped the Nasdaq and S&P 500 indexes reach record closing highs. But stocks qui


U.S. stock index futures were slightly lower Wednesday morning, as market participants looked ahead to another deluge of corporate earnings. ET, Dow futures slipped 17 points, indicating a negative open of more than 28 points. Futures on the S&P and Nasdaq were both seen marginally lower. Market focus is largely attuned to earnings season, after better-than-feared figures from major companies in the previous session helped the Nasdaq and S&P 500 indexes reach record closing highs. But stocks qui
Dow futures edge lower as investors await Facebook, Microsoft earnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: sam meredith
Keywords: news, cnbc, companies, futures, worst, closing, nasdaq, dow, investors, trade, 500, sp, points, edge, lower, uschina, microsoft, await, earnings, turned, facebook


Dow futures edge lower as investors await Facebook, Microsoft earnings

U.S. stock index futures were slightly lower Wednesday morning, as market participants looked ahead to another deluge of corporate earnings.

At around 02:45 a.m. ET, Dow futures slipped 17 points, indicating a negative open of more than 28 points. Futures on the S&P and Nasdaq were both seen marginally lower.

Market focus is largely attuned to earnings season, after better-than-feared figures from major companies in the previous session helped the Nasdaq and S&P 500 indexes reach record closing highs.

Tuesday’s move toward an all-time closing high comes less than six months after a sharp decline in late December, which led the S&P 500 to its worst annual performance since 2008. But stocks quickly turned around as the Federal Reserve reversed course on monetary policy while the tone around U.S.-China trade talks improved.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: sam meredith
Keywords: news, cnbc, companies, futures, worst, closing, nasdaq, dow, investors, trade, 500, sp, points, edge, lower, uschina, microsoft, await, earnings, turned, facebook


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Twitter is surging and the rally shows no signs of slowing, chart analyst says

Why this trader says Twitter has more upside potential than Facebook, Snap 22 Hours Ago | 02:35Twitter is surging. That move also pushed Twitter out of bear market territory, now less than 20% off its 52-week high. Matt Maley, equity strategist at Miller Tabak, said that Twitter still looks like the social stock with the most upside even with Tuesday’s surge. Facebook has added nearly 40% this year, while Snap has rocketed 117% higher, compared with Twitter’s 35% gain. Alphabet has the largest w


Why this trader says Twitter has more upside potential than Facebook, Snap 22 Hours Ago | 02:35Twitter is surging. That move also pushed Twitter out of bear market territory, now less than 20% off its 52-week high. Matt Maley, equity strategist at Miller Tabak, said that Twitter still looks like the social stock with the most upside even with Tuesday’s surge. Facebook has added nearly 40% this year, while Snap has rocketed 117% higher, compared with Twitter’s 35% gain. Alphabet has the largest w
Twitter is surging and the rally shows no signs of slowing, chart analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: keris lahiff, david becker, getty images news, getty images, daniel acker, bloomberg, michael nagle, eddie seal, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, surging, weighting, maley, signs, chart, twitter, facebook, xlc, rally, higher, companies, snap, range, trading, slowing, shows, analyst


Twitter is surging and the rally shows no signs of slowing, chart analyst says

Why this trader says Twitter has more upside potential than Facebook, Snap 22 Hours Ago | 02:35

Twitter is surging.

The stock rose more than 10% in early trading Tuesday after beating earnings and topping sales estimates for its first quarter. That move also pushed Twitter out of bear market territory, now less than 20% off its 52-week high.

Matt Maley, equity strategist at Miller Tabak, said that Twitter still looks like the social stock with the most upside even with Tuesday’s surge.

“Even though Snap and Facebook have seen a series of nice higher highs and higher lows, they’re getting very extended and very overbought,” Maley said.

Facebook has added nearly 40% this year, while Snap has rocketed 117% higher, compared with Twitter’s 35% gain.

Twitter has “been stuck in a sideways range for six months now and you really have to go back to June before it was really rallying in any significant way,” Maley said Monday on CNBC’s “Trading Nation.”

Twitter had ping-ponged in a tight range between roughly $26 and $35. It had not traded above that level since mid-2018 until Tuesday when it broke out above $38.

It now needs to hold that level through to the close, said Maley.

“If it can hold above that range ($36.25 is the top of that range on a closing basis), it’s going to be quite positive,” Maley said in an email on Tuesday. “It hasn’t attracted any ‘momentum money’ for 10 months. If it continues to break above that range over the coming days, it’s going to attract some of that momentum money (much like FB did after they reported their 4th quarter earnings).”

Twitter led the XLC communications services sector ETF higher Tuesday. The ETF has added 20% in 2019, outpacing the 16% gain of the S&P 500.

However, Chad Morganlander, senior portfolio manager at Washington Crossing Advisors, says to steer clear of the group.

“We would avoid this altogether,” Morganlander said on “Trading Nation” on Monday. “In fact, because of the concentration risk about 40% of this sector is based off of two companies and the other top 10, it’s basically 70%.”

Alphabet has the largest weighting in the XLC, contributing 24%, and Facebook chases with a 19% weighting. The next three components – Disney, Comcast and Netflix, contribute more than 15%.

“Our viewpoint is that the social media companies as well as some of the search companies are stretched at this inflection point,” said Morganlander.

Disclosure: Comast owns CNBC parent NBCUniversal, which is an investor in Snap .


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: keris lahiff, david becker, getty images news, getty images, daniel acker, bloomberg, michael nagle, eddie seal, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, surging, weighting, maley, signs, chart, twitter, facebook, xlc, rally, higher, companies, snap, range, trading, slowing, shows, analyst


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Twitter is surging and the rally shows no signs of slowing, chart analyst says

Why this trader says Twitter has more upside potential than Facebook, Snap 22 Hours Ago | 02:35Twitter is surging. That move also pushed Twitter out of bear market territory, now less than 20% off its 52-week high. Matt Maley, equity strategist at Miller Tabak, said that Twitter still looks like the social stock with the most upside even with Tuesday’s surge. Facebook has added nearly 40% this year, while Snap has rocketed 117% higher, compared with Twitter’s 35% gain. Alphabet has the largest w


Why this trader says Twitter has more upside potential than Facebook, Snap 22 Hours Ago | 02:35Twitter is surging. That move also pushed Twitter out of bear market territory, now less than 20% off its 52-week high. Matt Maley, equity strategist at Miller Tabak, said that Twitter still looks like the social stock with the most upside even with Tuesday’s surge. Facebook has added nearly 40% this year, while Snap has rocketed 117% higher, compared with Twitter’s 35% gain. Alphabet has the largest w
Twitter is surging and the rally shows no signs of slowing, chart analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: keris lahiff, david becker, getty images news, getty images, daniel acker, bloomberg, michael nagle, eddie seal, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, surging, weighting, maley, signs, chart, twitter, facebook, xlc, rally, higher, companies, snap, range, trading, slowing, shows, analyst


Twitter is surging and the rally shows no signs of slowing, chart analyst says

Why this trader says Twitter has more upside potential than Facebook, Snap 22 Hours Ago | 02:35

Twitter is surging.

The stock rose more than 10% in early trading Tuesday after beating earnings and topping sales estimates for its first quarter. That move also pushed Twitter out of bear market territory, now less than 20% off its 52-week high.

Matt Maley, equity strategist at Miller Tabak, said that Twitter still looks like the social stock with the most upside even with Tuesday’s surge.

“Even though Snap and Facebook have seen a series of nice higher highs and higher lows, they’re getting very extended and very overbought,” Maley said.

Facebook has added nearly 40% this year, while Snap has rocketed 117% higher, compared with Twitter’s 35% gain.

Twitter has “been stuck in a sideways range for six months now and you really have to go back to June before it was really rallying in any significant way,” Maley said Monday on CNBC’s “Trading Nation.”

Twitter had ping-ponged in a tight range between roughly $26 and $35. It had not traded above that level since mid-2018 until Tuesday when it broke out above $38.

It now needs to hold that level through to the close, said Maley.

“If it can hold above that range ($36.25 is the top of that range on a closing basis), it’s going to be quite positive,” Maley said in an email on Tuesday. “It hasn’t attracted any ‘momentum money’ for 10 months. If it continues to break above that range over the coming days, it’s going to attract some of that momentum money (much like FB did after they reported their 4th quarter earnings).”

Twitter led the XLC communications services sector ETF higher Tuesday. The ETF has added 20% in 2019, outpacing the 16% gain of the S&P 500.

However, Chad Morganlander, senior portfolio manager at Washington Crossing Advisors, says to steer clear of the group.

“We would avoid this altogether,” Morganlander said on “Trading Nation” on Monday. “In fact, because of the concentration risk about 40% of this sector is based off of two companies and the other top 10, it’s basically 70%.”

Alphabet has the largest weighting in the XLC, contributing 24%, and Facebook chases with a 19% weighting. The next three components – Disney, Comcast and Netflix, contribute more than 15%.

“Our viewpoint is that the social media companies as well as some of the search companies are stretched at this inflection point,” said Morganlander.

Disclosure: Comast owns CNBC parent NBCUniversal, which is an investor in Snap .


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: keris lahiff, david becker, getty images news, getty images, daniel acker, bloomberg, michael nagle, eddie seal, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, surging, weighting, maley, signs, chart, twitter, facebook, xlc, rally, higher, companies, snap, range, trading, slowing, shows, analyst


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Apple CEO Tim Cook: Europe is leading the U.S. when it comes to tech regulation

Apple CEO Tim Cook said on Tuesday that regulation in technology is becoming increasingly important, but he doesn’t trust U.S. lawmakers to take a smart approach. While European regulators have been aggressive at trying to protect consumers, “U.S. business thinks all regulation is bad regulation,” he said. Cook did not name Google and Facebook, but he has been critical of their business models in the past. Cook has also called for the Federal Trade Commission to form a “data-broker clearinghouse


Apple CEO Tim Cook said on Tuesday that regulation in technology is becoming increasingly important, but he doesn’t trust U.S. lawmakers to take a smart approach. While European regulators have been aggressive at trying to protect consumers, “U.S. business thinks all regulation is bad regulation,” he said. Cook did not name Google and Facebook, but he has been critical of their business models in the past. Cook has also called for the Federal Trade Commission to form a “data-broker clearinghouse
Apple CEO Tim Cook: Europe is leading the U.S. when it comes to tech regulation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: kif leswing, spencer platt, getty images, source
Keywords: news, cnbc, companies, data, europe, comes, ceo, gdpr, right, business, privacy, google, leading, apple, cook, need, regulation, tim, facebook, tech


Apple CEO Tim Cook: Europe is leading the U.S. when it comes to tech regulation

Apple CEO Tim Cook said on Tuesday that regulation in technology is becoming increasingly important, but he doesn’t trust U.S. lawmakers to take a smart approach.

At a Time Magazine conference on Tuesday, Cook said that Europe’s GDPR (General Data Protection Regulation), which aimed to give consumers greater control over their data, was a good first step though it doesn’t go far enough. He’s skeptical of the U.S. pushing in the right direction because of the anti-regulation positions taken by American businesses.

“I’m not confident, is the short version of the statement,” Cook said, when asked how confident he is that the U.S. would come up with smart, non-destructive regulations. “I think this an example where Europe is more likely to come up with something. GDPR isn’t ideal but GDPR is a step in the right direction.”

Cook has been stressing the need for regulation of late, which is often self-serving because unlike tech giants such as Google and Facebook, Apple’s existing business wouldn’t be threatened by enhanced privacy requirements. In an op-ed in Time in January, Cook called on Congress to pass “comprehensive federal privacy legislation,” a theme he continued to stress at the conference on Tuesday.

“We all have to be intellectually honest,” Cook said. “We have to admit that there’s something we’re doing isn’t working and that the technology needs to be regulated. There are now too many examples where ‘no rails’ have resulted in great damage to society.”

While European regulators have been aggressive at trying to protect consumers, “U.S. business thinks all regulation is bad regulation,” he said. “Therefore there’s lots of gravity around not doing something.”

Cook did not name Google and Facebook, but he has been critical of their business models in the past. Cook has also called for the Federal Trade Commission to form a “data-broker clearinghouse” and requiring all data brokers to register.

In Europe, both Google and Facebook have faced significant challenges related to privacy. Facebook was embroiled in a scandal around how Cambridge Analytica, a consultancy, gained the information of 87 million Facebook users. Google has been force to comply with EU laws around “the right to be forgotten,” which require it to delete personal information about users in certain circumstances.

Because the majority of Apple’s revenue comes from selling computer equipment and phones, not by targeting and selling ads, it would need to make fewer changes if comprehensive privacy regulations were enacted.

“I am hopeful and we are advocating strongly for regulation because I do not see another path at this point,” Cook said.

WATCH: Walt Mossberg on Apple’s need for big innovation


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: kif leswing, spencer platt, getty images, source
Keywords: news, cnbc, companies, data, europe, comes, ceo, gdpr, right, business, privacy, google, leading, apple, cook, need, regulation, tim, facebook, tech


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Facebook hires top State Department lawyer as general counsel

Facebook announced on Monday that it’s bringing in a new general counsel and vice president of communications as it tries to rebuild its image following a year filled with scandals. The company said Jennifer Newstead, the legal adviser to the U.S. State Department, is joining the company as its general counsel, replacing Colin Stretch, who said last year that he would be departing. Facebook also named John Pinette as vice president of global communications, succeeding Caryn Marooney, who announc


Facebook announced on Monday that it’s bringing in a new general counsel and vice president of communications as it tries to rebuild its image following a year filled with scandals. The company said Jennifer Newstead, the legal adviser to the U.S. State Department, is joining the company as its general counsel, replacing Colin Stretch, who said last year that he would be departing. Facebook also named John Pinette as vice president of global communications, succeeding Caryn Marooney, who announc
Facebook hires top State Department lawyer as general counsel Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: ari levy, jerry lampen, afp, getty images
Keywords: news, cnbc, companies, hires, pompeo, counsel, communications, lawyer, facebook, president, newstead, company, department, state, general, vice, worked


Facebook hires top State Department lawyer as general counsel

Facebook announced on Monday that it’s bringing in a new general counsel and vice president of communications as it tries to rebuild its image following a year filled with scandals.

The company said Jennifer Newstead, the legal adviser to the U.S. State Department, is joining the company as its general counsel, replacing Colin Stretch, who said last year that he would be departing. Facebook also named John Pinette as vice president of global communications, succeeding Caryn Marooney, who announced her plans to leave in February.

Newstead, who was confirmed by the Senate in December 2017, is a government veteran, having previously worked at the Office of Management and Budget, the Department of Justice and as an associate White House counsel. Secretary of State Mike Pompeo thanked Newstead for her service in a statement, without addressing where she was going.

“Jennifer Newstead is an exceptional lawyer who has served the American people, our State Department team, and the Trump Administration faithfully as our Legal Adviser,” Pompeo wrote. “Her expertise and sharp judgment on an array of critical foreign policy issues will be greatly missed.”

Newstead brings some controversy with her. As part of the George W. Bush administration in the aftermath of the Sept. 11 terrorist attacks, Newstead helped draft the Patriot Act, which granted law enforcement agencies greater surveillance power over ordinary Americans.

Pinette most recently worked as vice president of marketing and communications at Vulcan, the business and philanthropic group started by Microsoft co-founder Paul Allen. Before that, he led communications for Bill Gates’ private office and also worked at Google.

Facebook has seen an exodus of top talent since the company became embroiled in controversy following the 2016 presidential election, when the platform was manipulated by foreign actors and flooded with fake news. The company is now trying to regain the trust of users, lawmakers and even advertisers, and CEO Mark Zuckerberg has laid out his plans for a “privacy-focused” future.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: ari levy, jerry lampen, afp, getty images
Keywords: news, cnbc, companies, hires, pompeo, counsel, communications, lawyer, facebook, president, newstead, company, department, state, general, vice, worked


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Facebook hires top State Department lawyer as general counsel

Facebook announced on Monday that it’s bringing in a new general counsel and vice president of communications as it tries to rebuild its image following a year filled with scandals. The company said Jennifer Newstead, the legal adviser to the U.S. State Department, is joining the company as its general counsel, replacing Colin Stretch, who said last year that he would be departing. Facebook also named John Pinette as vice president of global communications, succeeding Caryn Marooney, who announc


Facebook announced on Monday that it’s bringing in a new general counsel and vice president of communications as it tries to rebuild its image following a year filled with scandals. The company said Jennifer Newstead, the legal adviser to the U.S. State Department, is joining the company as its general counsel, replacing Colin Stretch, who said last year that he would be departing. Facebook also named John Pinette as vice president of global communications, succeeding Caryn Marooney, who announc
Facebook hires top State Department lawyer as general counsel Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: ari levy, jerry lampen, afp, getty images
Keywords: news, cnbc, companies, hires, pompeo, counsel, communications, lawyer, facebook, president, newstead, company, department, state, general, vice, worked


Facebook hires top State Department lawyer as general counsel

Facebook announced on Monday that it’s bringing in a new general counsel and vice president of communications as it tries to rebuild its image following a year filled with scandals.

The company said Jennifer Newstead, the legal adviser to the U.S. State Department, is joining the company as its general counsel, replacing Colin Stretch, who said last year that he would be departing. Facebook also named John Pinette as vice president of global communications, succeeding Caryn Marooney, who announced her plans to leave in February.

Newstead, who was confirmed by the Senate in December 2017, is a government veteran, having previously worked at the Office of Management and Budget, the Department of Justice and as an associate White House counsel. Secretary of State Mike Pompeo thanked Newstead for her service in a statement, without addressing where she was going.

“Jennifer Newstead is an exceptional lawyer who has served the American people, our State Department team, and the Trump Administration faithfully as our Legal Adviser,” Pompeo wrote. “Her expertise and sharp judgment on an array of critical foreign policy issues will be greatly missed.”

Newstead brings some controversy with her. As part of the George W. Bush administration in the aftermath of the Sept. 11 terrorist attacks, Newstead helped draft the Patriot Act, which granted law enforcement agencies greater surveillance power over ordinary Americans.

Pinette most recently worked as vice president of marketing and communications at Vulcan, the business and philanthropic group started by Microsoft co-founder Paul Allen. Before that, he led communications for Bill Gates’ private office and also worked at Google.

Facebook has seen an exodus of top talent since the company became embroiled in controversy following the 2016 presidential election, when the platform was manipulated by foreign actors and flooded with fake news. The company is now trying to regain the trust of users, lawmakers and even advertisers, and CEO Mark Zuckerberg has laid out his plans for a “privacy-focused” future.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: ari levy, jerry lampen, afp, getty images
Keywords: news, cnbc, companies, hires, pompeo, counsel, communications, lawyer, facebook, president, newstead, company, department, state, general, vice, worked


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Why this trader says Twitter has more upside potential than Facebook, Snap

Why this trader says Twitter has more upside potential than Facebook, Snap4 Hours AgoMatt Maley of Miller Tabak and Chad Morganlander of Washington Crossing Advisors discuss how social media stocks, like Twitter and Facebook, are trading, with CNBC’s Kelly Evans.


Why this trader says Twitter has more upside potential than Facebook, Snap4 Hours AgoMatt Maley of Miller Tabak and Chad Morganlander of Washington Crossing Advisors discuss how social media stocks, like Twitter and Facebook, are trading, with CNBC’s Kelly Evans.
Why this trader says Twitter has more upside potential than Facebook, Snap Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22
Keywords: news, cnbc, companies, washington, trader, stocks, upside, facebook, snap, twitter, tabak, social, trading, potential, snap4


Why this trader says Twitter has more upside potential than Facebook, Snap

Why this trader says Twitter has more upside potential than Facebook, Snap

4 Hours Ago

Matt Maley of Miller Tabak and Chad Morganlander of Washington Crossing Advisors discuss how social media stocks, like Twitter and Facebook, are trading, with CNBC’s Kelly Evans.


Company: cnbc, Activity: cnbc, Date: 2019-04-22
Keywords: news, cnbc, companies, washington, trader, stocks, upside, facebook, snap, twitter, tabak, social, trading, potential, snap4


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Stocks making the biggest moves after hours: Whirlpool, Facebook and Cadence Design

North American revenues rang in at $2.5 billion, topping estimates. Cadence Design shares jumped more than 5% after hours Monday based on better-than-expected first-quarter earnings. The software company earned $577 million in revenue, topping analyst estimates of $569 million according to Refinitiv. Cadence Design gave guidance for second-quarter earnings per share and revenue that topped Wall Street’s estimates. Facebook shares rose slightly after the bell Monday after the social media giant s


North American revenues rang in at $2.5 billion, topping estimates. Cadence Design shares jumped more than 5% after hours Monday based on better-than-expected first-quarter earnings. The software company earned $577 million in revenue, topping analyst estimates of $569 million according to Refinitiv. Cadence Design gave guidance for second-quarter earnings per share and revenue that topped Wall Street’s estimates. Facebook shares rose slightly after the bell Monday after the social media giant s
Stocks making the biggest moves after hours: Whirlpool, Facebook and Cadence Design Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: maggie fitzgerald, david paul morris, bloomberg, getty images, daniel acker
Keywords: news, cnbc, companies, earnings, newstead, estimates, million, revenues, revenue, shares, biggest, moves, hours, facebook, cadence, stocks, share, design, making, topping, whirlpool


Stocks making the biggest moves after hours: Whirlpool, Facebook and Cadence Design

North American revenues rang in at $2.5 billion, topping estimates. Asia revenues came in at $371 million, below the estimated $457 million.

Cadence Design shares jumped more than 5% after hours Monday based on better-than-expected first-quarter earnings. The software company earned $577 million in revenue, topping analyst estimates of $569 million according to Refinitiv. Adjusted earnings per share were 54 cents, beating the forecast 49 cents.

Cadence Design gave guidance for second-quarter earnings per share and revenue that topped Wall Street’s estimates.

Facebook shares rose slightly after the bell Monday after the social media giant said it is hiring Jennifer Newstead as its general counsel. Newstead, most recently the legal adviser to the U.S. State Department, is replacing Colin Stretch. Facebook also named John Pinette as vice president of global communications.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: maggie fitzgerald, david paul morris, bloomberg, getty images, daniel acker
Keywords: news, cnbc, companies, earnings, newstead, estimates, million, revenues, revenue, shares, biggest, moves, hours, facebook, cadence, stocks, share, design, making, topping, whirlpool


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Lawmakers call for Zuckerberg to be held accountable for Facebook’s privacy fumbles

Two Democratic senators voiced support for Zuckerberg to be held personally responsible for the company’s privacy fumbles following a Washington Post report that claimed the Federal Trade Commission is considering how to hold him directly accountable. “The FTC should hold Mark Zuckerberg accountable by name in any consent order,” Wyden said. “However, right now I don’t think FTC has the resources or authorities it needs to truly hold Facebook accountable.” But the Post report shows the FTC may b


Two Democratic senators voiced support for Zuckerberg to be held personally responsible for the company’s privacy fumbles following a Washington Post report that claimed the Federal Trade Commission is considering how to hold him directly accountable. “The FTC should hold Mark Zuckerberg accountable by name in any consent order,” Wyden said. “However, right now I don’t think FTC has the resources or authorities it needs to truly hold Facebook accountable.” But the Post report shows the FTC may b
Lawmakers call for Zuckerberg to be held accountable for Facebook’s privacy fumbles Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-19  Authors: lauren feiner, matt mcclain, the washington post, getty images
Keywords: news, cnbc, companies, privacy, facebooks, accountable, hold, post, report, action, executives, washington, statement, fumbles, held, lawmakers, facebook, ftc, zuckerberg


Lawmakers call for Zuckerberg to be held accountable for Facebook's privacy fumbles

Pressure is mounting in Washington D.C. to take action against Facebook’s chief executive Mark Zuckerberg for the company’s handling of customer data. Two Democratic senators voiced support for Zuckerberg to be held personally responsible for the company’s privacy fumbles following a Washington Post report that claimed the Federal Trade Commission is considering how to hold him directly accountable.

“Facebook was put on notice about its practices long ago — the FTC must now take aggressive enforcement action and name names,” Connecticut Democratic Sen. Richard Blumenthal, a member of the judiciary committee, said in a statement. “Holding Mark Zuckerberg and other top Facebook executives personally at fault and liable for further wrongdoing would send a powerful message to business leaders across the country: You will pay a hefty price for skirting the law and deceiving consumers.”

Oregon Democratic Sen. Ron Wyden echoed Blumenthal’s calls but said in a statement that the FTC doesn’t currently have the ability to take appropriate action against Facebook, citing his push for stronger privacy legislation.

“The FTC should hold Mark Zuckerberg accountable by name in any consent order,” Wyden said. “However, right now I don’t think FTC has the resources or authorities it needs to truly hold Facebook accountable.”

The FTC’s probe into Facebook centers around a 2011 settlement where Facebook agreed to receive explicit permission from users before sharing their personal data. After the public learned that Facebook data had been used by political research firm Cambridge Analytica during the run-up to the 2016 presidential election, the FTC confirmed in March 2018 that it had opened an investigation into Facebook.

While the FTC declined to comment on the Post report and has previously declined to confirm the status of the investigation, recent reports revealed that Facebook was already facing the prospect of a steep penalty if found in violation of the agreement. In February, The New York Times reported that Facebook was discussing a possible record-setting multibillion dollar settlement with the FTC.

But the Post report shows the FTC may be seeking to hold Zuckerberg more directly accountable for the company’s actions as well. In considering this action, the FTC joins regulators and lawmakers worldwide who have begun to take a firmer stance against executives whose companies are found guilty of wrongdoing.

Democratic presidential contender and Massachusetts Sen. Elizabeth Warren unveiled legislation earlier this month that would make it easier to jail executives for a firm’s alleged abuses. Australia passed legislation this month that gives the government the power to jail social media executives who fail to take down “abhorrent violent material” from the platforms in a timely manner. The U.K. is considering similar regulations that would give the government power to hold executives personally liable for the spread of harmful content on their platforms, according to The Guardian.

Blumenthal said in the case of the FTC investigation, action must be taken against Zuckerberg because he and Facebook are closely intertwined.

“Zuckerberg and Facebook are one entity— like two sides of the same coin,” Blumenthal said in the statement. “They are joined at the hip, head and heart. He is the founder, CEO, controlling shareholder, and face of the company. Thanks to recent reports, it’s never been clearer: He wasn’t just aware of Facebook’s invasion of consumer privacy, he signed off on it and publicly downplayed legitimate concerns.”

Asked about the Washington Post report on the FTC probe, a Facebook spokesperson told CNBC, “We hope to reach an appropriate and fair resolution.”

Subscribe to CNBC on YouTube.

Watch: Facebook says it inadvertently uploaded 1.5 million users’ email contacts without permission


Company: cnbc, Activity: cnbc, Date: 2019-04-19  Authors: lauren feiner, matt mcclain, the washington post, getty images
Keywords: news, cnbc, companies, privacy, facebooks, accountable, hold, post, report, action, executives, washington, statement, fumbles, held, lawmakers, facebook, ftc, zuckerberg


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Facebook says it ‘unintentionally uploaded’ 1.5 million users’ email contacts without permission

Social networking giant Facebook said on Wednesday evening it may have “unintentionally uploaded” the email contacts of up to 1.5 million users on its site, without their permission or knowledge, when they signed up for new accounts since May 2016. Those contacts were not shared with anyone and Facebook is deleting them, a company spokesperson told CNBC. People can also review and manage contacts they share with Facebook in their settings,” the spokesperson said. Facebook said it used to have a


Social networking giant Facebook said on Wednesday evening it may have “unintentionally uploaded” the email contacts of up to 1.5 million users on its site, without their permission or knowledge, when they signed up for new accounts since May 2016. Those contacts were not shared with anyone and Facebook is deleting them, a company spokesperson told CNBC. People can also review and manage contacts they share with Facebook in their settings,” the spokesperson said. Facebook said it used to have a
Facebook says it ‘unintentionally uploaded’ 1.5 million users’ email contacts without permission Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: saheli roy choudhury, niall carson, pa images, getty images
Keywords: news, cnbc, companies, million, facebook, uploaded, 15, unintentionally, process, spokesperson, email, giant, step, site, users, permission, contacts


Facebook says it 'unintentionally uploaded' 1.5 million users' email contacts without permission

Social networking giant Facebook said on Wednesday evening it may have “unintentionally uploaded” the email contacts of up to 1.5 million users on its site, without their permission or knowledge, when they signed up for new accounts since May 2016.

Users affected by that incident were not just limited to the United States, according to a source familiar with the matter.

Those contacts were not shared with anyone and Facebook is deleting them, a company spokesperson told CNBC.

“We’ve fixed the underlying issue and are notifying people whose contacts were imported. People can also review and manage contacts they share with Facebook in their settings,” the spokesperson said.

Business Insider first reported the news and said a security researcher noticed the tech giant was prompting some users to type in their email passwords when they opened an account to verify their identity.

Facebook said it used to have a step in the account verification process where some users had the option to confirm their email address and voluntarily import their email contacts onto the site. The feature was meant to help them find their friends more effectively and improve ads, according to the company.

That process was redesigned in May 2016. While the language, which explained the step, was removed, the feature itself was not, Facebook said. Hence, email contacts were still being uploaded to the site without users being aware of that fact.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: saheli roy choudhury, niall carson, pa images, getty images
Keywords: news, cnbc, companies, million, facebook, uploaded, 15, unintentionally, process, spokesperson, email, giant, step, site, users, permission, contacts


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