Cramer Remix: CenturyLink’s slashed dividend isn’t a huge surprise

If you ask CNBC’s Jim Cramer, reaching for a stock’s dividend yield is one of the dumbest mistakes an investor can make. “If you see a stock sporting a yield that’s well in excess of what you can get elsewhere, I think you should be skeptical,” he said Thursday on “Mad Money.” “Most likely, it’s not a bargain, it’s a sign that the dividend is going to be cut.” But on Wednesday, management slashed the dividend from $2.16 a share to $1.00, saying they would focus on creating value in other ways. B


If you ask CNBC’s Jim Cramer, reaching for a stock’s dividend yield is one of the dumbest mistakes an investor can make. “If you see a stock sporting a yield that’s well in excess of what you can get elsewhere, I think you should be skeptical,” he said Thursday on “Mad Money.” “Most likely, it’s not a bargain, it’s a sign that the dividend is going to be cut.” But on Wednesday, management slashed the dividend from $2.16 a share to $1.00, saying they would focus on creating value in other ways. B
Cramer Remix: CenturyLink’s slashed dividend isn’t a huge surprise Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: elizabeth gurdus, alex wroblewski, bloomberg, getty images, scott mlyn, adam jeffery
Keywords: news, cnbc, companies, slashed, surprise, centurylinks, centurylink, share, isnt, cramer, wrong, remix, dividend, yield, stock, went, thats, stocks, huge


Cramer Remix: CenturyLink's slashed dividend isn't a huge surprise

If you ask CNBC’s Jim Cramer, reaching for a stock’s dividend yield is one of the dumbest mistakes an investor can make.

“If you see a stock sporting a yield that’s well in excess of what you can get elsewhere, I think you should be skeptical,” he said Thursday on “Mad Money.” “Most likely, it’s not a bargain, it’s a sign that the dividend is going to be cut.”

Cramer flagged the cautionary tale of the stock of CenturyLink, an old-school telephone and data service provider which, until recently, had the largest yield in the S&P 500. But on Wednesday, management slashed the dividend from $2.16 a share to $1.00, saying they would focus on creating value in other ways. Shares fell to a new 52-week low.

Referencing his November warning about the stock, Cramer said he saw this coming based on what happened to two other, similar companies whose stocks are now too small for him to mention on air.

“Over the years, their CEOs repeatedly told me that their dividends were safe. But … this part of the telco industry [is] a dinosaur. Their stocks gradually went lower as their revenues shrank, making their yields seem more attractive. Management insisted that the market had it wrong and their dividends were safe,” the “Mad Money” host explained.

But when their stocks went from near $100 a share to the single digits, that turned out to be totally wrong. And while CenturyLink has a better balance sheet, Cramer implored investors to learn a lesson from its cut and do their own homework.

“With CenturyLink, it was obvious to anyone with discipline that the sky-high yield was a red flag, even as many analysts failed to see the cut coming,” he said. “Some things are simply too good to be true, and a stock with an 11.5 percent yield? That’s one of them.”


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: elizabeth gurdus, alex wroblewski, bloomberg, getty images, scott mlyn, adam jeffery
Keywords: news, cnbc, companies, slashed, surprise, centurylinks, centurylink, share, isnt, cramer, wrong, remix, dividend, yield, stock, went, thats, stocks, huge


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Cramer Remix: CenturyLink’s slashed dividend isn’t a huge surprise

If you ask CNBC’s Jim Cramer, reaching for a stock’s dividend yield is one of the dumbest mistakes an investor can make. “If you see a stock sporting a yield that’s well in excess of what you can get elsewhere, I think you should be skeptical,” he said Thursday on “Mad Money.” “Most likely, it’s not a bargain, it’s a sign that the dividend is going to be cut.” But on Wednesday, management slashed the dividend from $2.16 a share to $1.00, saying they would focus on creating value in other ways. B


If you ask CNBC’s Jim Cramer, reaching for a stock’s dividend yield is one of the dumbest mistakes an investor can make. “If you see a stock sporting a yield that’s well in excess of what you can get elsewhere, I think you should be skeptical,” he said Thursday on “Mad Money.” “Most likely, it’s not a bargain, it’s a sign that the dividend is going to be cut.” But on Wednesday, management slashed the dividend from $2.16 a share to $1.00, saying they would focus on creating value in other ways. B
Cramer Remix: CenturyLink’s slashed dividend isn’t a huge surprise Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: elizabeth gurdus, alex wroblewski, bloomberg, getty images, scott mlyn, adam jeffery
Keywords: news, cnbc, companies, slashed, surprise, centurylinks, centurylink, share, isnt, cramer, wrong, remix, dividend, yield, stock, went, thats, stocks, huge


Cramer Remix: CenturyLink's slashed dividend isn't a huge surprise

If you ask CNBC’s Jim Cramer, reaching for a stock’s dividend yield is one of the dumbest mistakes an investor can make.

“If you see a stock sporting a yield that’s well in excess of what you can get elsewhere, I think you should be skeptical,” he said Thursday on “Mad Money.” “Most likely, it’s not a bargain, it’s a sign that the dividend is going to be cut.”

Cramer flagged the cautionary tale of the stock of CenturyLink, an old-school telephone and data service provider which, until recently, had the largest yield in the S&P 500. But on Wednesday, management slashed the dividend from $2.16 a share to $1.00, saying they would focus on creating value in other ways. Shares fell to a new 52-week low.

Referencing his November warning about the stock, Cramer said he saw this coming based on what happened to two other, similar companies whose stocks are now too small for him to mention on air.

“Over the years, their CEOs repeatedly told me that their dividends were safe. But … this part of the telco industry [is] a dinosaur. Their stocks gradually went lower as their revenues shrank, making their yields seem more attractive. Management insisted that the market had it wrong and their dividends were safe,” the “Mad Money” host explained.

But when their stocks went from near $100 a share to the single digits, that turned out to be totally wrong. And while CenturyLink has a better balance sheet, Cramer implored investors to learn a lesson from its cut and do their own homework.

“With CenturyLink, it was obvious to anyone with discipline that the sky-high yield was a red flag, even as many analysts failed to see the cut coming,” he said. “Some things are simply too good to be true, and a stock with an 11.5 percent yield? That’s one of them.”


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: elizabeth gurdus, alex wroblewski, bloomberg, getty images, scott mlyn, adam jeffery
Keywords: news, cnbc, companies, slashed, surprise, centurylinks, centurylink, share, isnt, cramer, wrong, remix, dividend, yield, stock, went, thats, stocks, huge


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China and Russia loaned billions to Venezuela — and then the presidency went up for grabs

Venezuela is in the middle of a power struggle at the highest level, and that could mean trouble for its two biggest foreign allies: China and Russia. The socialist petrostate is home to the largest oil reserves on the planet, but endemic corruption has devastated its economy. Beijing and Moscow have helped the country stave off collapse by repeatedly extending financial lifelines — to the tune of tens of billions of dollars over the last decade. For the most part, those oil-for-debt swaps were


Venezuela is in the middle of a power struggle at the highest level, and that could mean trouble for its two biggest foreign allies: China and Russia. The socialist petrostate is home to the largest oil reserves on the planet, but endemic corruption has devastated its economy. Beijing and Moscow have helped the country stave off collapse by repeatedly extending financial lifelines — to the tune of tens of billions of dollars over the last decade. For the most part, those oil-for-debt swaps were
China and Russia loaned billions to Venezuela — and then the presidency went up for grabs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: mackenzie sigalos, andy wong, pool, getty images, carlos garcia rawlins, -russ dallen, managing partner, caracas capital markets
Keywords: news, cnbc, companies, went, billions, struggle, venezuela, stave, loaned, russia, trouble, swaps, russiathe, tens, reserves, presidency, grabs, socialist, china, tune


China and Russia loaned billions to Venezuela — and then the presidency went up for grabs

Venezuela is in the middle of a power struggle at the highest level, and that could mean trouble for its two biggest foreign allies: China and Russia.

The socialist petrostate is home to the largest oil reserves on the planet, but endemic corruption has devastated its economy. Beijing and Moscow have helped the country stave off collapse by repeatedly extending financial lifelines — to the tune of tens of billions of dollars over the last decade.

For the most part, those oil-for-debt swaps were good for all parties involved. But that may be changing.


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: mackenzie sigalos, andy wong, pool, getty images, carlos garcia rawlins, -russ dallen, managing partner, caracas capital markets
Keywords: news, cnbc, companies, went, billions, struggle, venezuela, stave, loaned, russia, trouble, swaps, russiathe, tens, reserves, presidency, grabs, socialist, china, tune


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4 of the 5 most affordable retirement spots are in this state

When 55places.com, an online resource for active adult communities in the U.S., identified the most affordable places to retire in 2019, one sun-drenched state — Florida — stood out by landing four of the top five spots. 1 perch, which went to the most populous city in a much chillier Midwestern state: Sioux Falls, South Dakota. To craft its list, 55places considered the cost of living, median home prices, state tax laws, local health-care options, the availability of 55-plus communities and pub


When 55places.com, an online resource for active adult communities in the U.S., identified the most affordable places to retire in 2019, one sun-drenched state — Florida — stood out by landing four of the top five spots. 1 perch, which went to the most populous city in a much chillier Midwestern state: Sioux Falls, South Dakota. To craft its list, 55places considered the cost of living, median home prices, state tax laws, local health-care options, the availability of 55-plus communities and pub
4 of the 5 most affordable retirement spots are in this state Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: kenneth kiesnoski, alexander nicholson, digitalvision, getty images, andras szada, eyeem, henryk sadura, tetra images, denis jr tangney
Keywords: news, cnbc, companies, sundrenched, living, state, retirement, 55placescom, communities, zillowcom, spots, options, transit, went, affordable, tax


4 of the 5 most affordable retirement spots are in this state

When 55places.com, an online resource for active adult communities in the U.S., identified the most affordable places to retire in 2019, one sun-drenched state — Florida — stood out by landing four of the top five spots.

But not the No. 1 perch, which went to the most populous city in a much chillier Midwestern state: Sioux Falls, South Dakota.

To craft its list, 55places considered the cost of living, median home prices, state tax laws, local health-care options, the availability of 55-plus communities and public transit options. According to the site, “the cities named not only offer reasonable housing costs, but also provide exciting amenities and healthy living options.”

Sources: 55places.com, Zillow.com, Avalara.com


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: kenneth kiesnoski, alexander nicholson, digitalvision, getty images, andras szada, eyeem, henryk sadura, tetra images, denis jr tangney
Keywords: news, cnbc, companies, sundrenched, living, state, retirement, 55placescom, communities, zillowcom, spots, options, transit, went, affordable, tax


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Mark Zuckerberg’s dad said he could go to Harvard or have a McDonald’s franchise

But before he even went to college, Zuckerberg’s father Edward offered his son an alternative — a future as a McDonald’s franchise owner. “I think [my parents] were like ‘Okay, you probably should have taken the McDonald’s franchise money if you wanted a business. When Zuckerberg started college in 2002, no one could have foreseen that his time Harvard would eventually make him a multibillionaire. A 2016 report from CNBC and Franchise Business Review pegged the average profit of food and beverag


But before he even went to college, Zuckerberg’s father Edward offered his son an alternative — a future as a McDonald’s franchise owner. “I think [my parents] were like ‘Okay, you probably should have taken the McDonald’s franchise money if you wanted a business. When Zuckerberg started college in 2002, no one could have foreseen that his time Harvard would eventually make him a multibillionaire. A 2016 report from CNBC and Franchise Business Review pegged the average profit of food and beverag
Mark Zuckerberg’s dad said he could go to Harvard or have a McDonald’s franchise Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: sarah berger, paul marotta, getty images, saul loeb, afp
Keywords: news, cnbc, companies, college, business, harvard, went, mark, dad, zuckerberg, franchise, zuckerbergs, food, mcdonalds, according


Mark Zuckerberg's dad said he could go to Harvard or have a McDonald's franchise

Mark Zuckerberg famously started Facebook in his Harvard University dorm.

But before he even went to college, Zuckerberg’s father Edward offered his son an alternative — a future as a McDonald’s franchise owner.

“My dad, funny enough, right before each of us went to college offered us the options of going to college or like investing in a franchise and running it,” sister Randi Zuckerberg told CNN Business’ Laurie Segall of her dad’s offer to his son and each of his three daughters.

Of course, Zuckerberg chose Harvard — and then dropped out.

“I think [my parents] were like ‘Okay, you probably should have taken the McDonald’s franchise money if you wanted a business. But, okay, this might be a second good choice,'” Randi told CNN.

When Zuckerberg started college in 2002, no one could have foreseen that his time Harvard would eventually make him a multibillionaire.

In fact, had Zuckerberg chosen Big Macs over books, he could have made a good living by most people’s standards. A 2016 report from CNBC and Franchise Business Review pegged the average profit of food and beverage franchises at $90,388 a year. And it’s not unusual for McDonald’s owners to make six figures, according to a 2015 Bloomberg story.

Of course, Zuckerberg currently has a net worth of $66.6 billion, according to Bloomberg’s Billionaires Index, which roughly translates to making over $4.7 billion a year since he dropped out of college in 2004.

It’s unclear how much Zuckerberg’s father would have had to invest for a McDonald’s franchise in the early 2000s, but today, according to the McDonald’s website, the total investment to begin operation of a traditional McDonald’s franchise ranges from $1,013,000 to $2,185,000, and that “profitability depends on many factors.”

Don’t miss: Trump’s getting trolled for Clemson fast food dinner, but Warren Buffett and others are big fans of junk food too

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Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: sarah berger, paul marotta, getty images, saul loeb, afp
Keywords: news, cnbc, companies, college, business, harvard, went, mark, dad, zuckerberg, franchise, zuckerbergs, food, mcdonalds, according


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Small-business owners look to grab this 20 percent tax break

Small-business owners filing their 2018 taxes may be able to take advantage of a brand-new 20 percent tax break. One of the new features of the Tax Cuts and Jobs Act is the introduction of the qualified business income deduction, which went into effect last year. This tax break allows owners of “pass-through” entities, including sole proprietorships, S-corporations and partnerships, to deduct up to 20 percent of their qualified business income. Don’t get too excited just yet. Business owners and


Small-business owners filing their 2018 taxes may be able to take advantage of a brand-new 20 percent tax break. One of the new features of the Tax Cuts and Jobs Act is the introduction of the qualified business income deduction, which went into effect last year. This tax break allows owners of “pass-through” entities, including sole proprietorships, S-corporations and partnerships, to deduct up to 20 percent of their qualified business income. Don’t get too excited just yet. Business owners and
Small-business owners look to grab this 20 percent tax break Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: darla mercado, getty images, alistair berg, digitalvision, drew angerer, steve shepard, istock, doug berry, -jonah gruda
Keywords: news, cnbc, companies, smallbusiness, deduction, business, grab, tax, trying, 20, break, 2018, owners, qualified, yearthis, look, went


Small-business owners look to grab this 20 percent tax break

Small-business owners filing their 2018 taxes may be able to take advantage of a brand-new 20 percent tax break.

One of the new features of the Tax Cuts and Jobs Act is the introduction of the qualified business income deduction, which went into effect last year.

This tax break allows owners of “pass-through” entities, including sole proprietorships, S-corporations and partnerships, to deduct up to 20 percent of their qualified business income.

Don’t get too excited just yet. Business owners and their accountants have been grappling with the deduction for most of 2018, trying to figure out who qualifies.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: darla mercado, getty images, alistair berg, digitalvision, drew angerer, steve shepard, istock, doug berry, -jonah gruda
Keywords: news, cnbc, companies, smallbusiness, deduction, business, grab, tax, trying, 20, break, 2018, owners, qualified, yearthis, look, went


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Ex-Starbucks boss Howard Schultz’s presidential roll-out went badly

Former Starbucks chief Howard Schultz touted his background as a poor kid from Brooklyn during the rollout this week of his potential independent presidential run — but the billionaire’s overall performance got a big Bronx cheer from political analysts. “Long and short: The rollout has been good in the sense that he has been introduced to millions of people who have never heard of him,” Sabato said. “But the downside of his rollout is that millions almost immediately took a strong dislike to him


Former Starbucks chief Howard Schultz touted his background as a poor kid from Brooklyn during the rollout this week of his potential independent presidential run — but the billionaire’s overall performance got a big Bronx cheer from political analysts. “Long and short: The rollout has been good in the sense that he has been introduced to millions of people who have never heard of him,” Sabato said. “But the downside of his rollout is that millions almost immediately took a strong dislike to him
Ex-Starbucks boss Howard Schultz’s presidential roll-out went badly Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: dan mangan, justin solomon
Keywords: news, cnbc, companies, schultzs, exstarbucks, howard, president, political, week, sabato, potential, badly, boss, rollout, independent, schultz, series, went, trump, presidential


Ex-Starbucks boss Howard Schultz's presidential roll-out went badly

Former Starbucks chief Howard Schultz touted his background as a poor kid from Brooklyn during the rollout this week of his potential independent presidential run — but the billionaire’s overall performance got a big Bronx cheer from political analysts.

Larry Sabato, the long-time University of Virginia political science guru, burst out laughing — at some length — when CNBC asked him to evaluate how Schultz did in introducing himself to the American public as the nation’s next potential president during a whirlwind series of media interviews.

“I’m sorry,” Sabato said, as he continued chuckling.

“Long and short: The rollout has been good in the sense that he has been introduced to millions of people who have never heard of him,” Sabato said. “I had to learn how to spell his name.”

“But the downside of his rollout is that millions almost immediately took a strong dislike to him for different reasons, something that apparently Schultz and his high-paid consultants aren’t noticing,” Sabato added.

Those consultants include Republican strategist and former MSNBC commentator Steve Schmidt and Bill Burton, a former advisor to President Barack Obama.

“The truth is the guy has announced for president, gotten enormous amount of coverage, and doesn’t appear to have support from anybody,” Sabato said.

Sabato and others said Schultz — who already was facing long odds of winning by saying that if he runs for the White House in 2020 it will be as an independent — hurt his chances during the week even further with a series of unforced errors. The former giant coffee chain CEO also opportunities left on the table, they said.

Analysts interviewed by CNBC cited the fierce backlash Schultz sparked by committing to running as independent, leading many Democrats to blast him for risking throwing the election to President Donald Trump by siphoning off enough would-be Democratic votes.

A day after announcing his potential bid Sunday, at a New York City event to launch his book, “From the Ground Up,” Schultz was met with a heckler who shouted, “Don’t help elect Trump, you egotistical, billionaire a—–!” The incident was widely shared on social media.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: dan mangan, justin solomon
Keywords: news, cnbc, companies, schultzs, exstarbucks, howard, president, political, week, sabato, potential, badly, boss, rollout, independent, schultz, series, went, trump, presidential


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Netflix’s IPO in 2002: Watch CNBC’s coverage

The hangover from the Dotcom Bubble bursting was still fairly fresh, but Netflix went public in May 2002. CEO Reed Hastings said, “An IPO is like high school graduation. It’s big at the time but with hindsight it’s only really a beginning of something else.” The DVD subscription service had yet to make a profit at the time. Watch the video above to relive CNBC’s coverage of Netflix’s IPO in 2002.


The hangover from the Dotcom Bubble bursting was still fairly fresh, but Netflix went public in May 2002. CEO Reed Hastings said, “An IPO is like high school graduation. It’s big at the time but with hindsight it’s only really a beginning of something else.” The DVD subscription service had yet to make a profit at the time. Watch the video above to relive CNBC’s coverage of Netflix’s IPO in 2002.
Netflix’s IPO in 2002: Watch CNBC’s coverage Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: jordan malter
Keywords: news, cnbc, companies, reed, netflixs, went, video, service, really, 2002, relive, timewatch, subscription, school, cnbcs, coverage, ipo, watch


Netflix's IPO in 2002: Watch CNBC's coverage

The hangover from the Dotcom Bubble bursting was still fairly fresh, but Netflix went public in May 2002.

CEO Reed Hastings said, “An IPO is like high school graduation. It’s big at the time but with hindsight it’s only really a beginning of something else.”

The DVD subscription service had yet to make a profit at the time.

Watch the video above to relive CNBC’s coverage of Netflix’s IPO in 2002.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: jordan malter
Keywords: news, cnbc, companies, reed, netflixs, went, video, service, really, 2002, relive, timewatch, subscription, school, cnbcs, coverage, ipo, watch


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‘This story is starting to get good’ — here’s what analysts think about Facebook’s blowout earnings

Facebook surges after earnings beat — Three analysts on what’s next for the stock 4 Hours Ago | 02:25Despite the scandals and controversies, Facebook analysts agree on one thing: The social media giant keeps growing with no sign of slowing down. Analysts also agree that by all metrics, the company exceeded expectations posting strong fourth-quarter numbers after the bell on Wednesday. Analysts pointed out that advertisers continue to spend money on the platform with record user growth and revenu


Facebook surges after earnings beat — Three analysts on what’s next for the stock 4 Hours Ago | 02:25Despite the scandals and controversies, Facebook analysts agree on one thing: The social media giant keeps growing with no sign of slowing down. Analysts also agree that by all metrics, the company exceeded expectations posting strong fourth-quarter numbers after the bell on Wednesday. Analysts pointed out that advertisers continue to spend money on the platform with record user growth and revenu
‘This story is starting to get good’ — here’s what analysts think about Facebook’s blowout earnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-31  Authors: michael bloom
Keywords: news, cnbc, companies, heres, facebooks, price, blowout, analyst, think, facebook, user, revenue, continue, good, earnings, went, starting, analysts


'This story is starting to get good' — here's what analysts think about Facebook's blowout earnings

Facebook surges after earnings beat — Three analysts on what’s next for the stock 4 Hours Ago | 02:25

Despite the scandals and controversies, Facebook analysts agree on one thing: The social media giant keeps growing with no sign of slowing down.

Analysts also agree that by all metrics, the company exceeded expectations posting strong fourth-quarter numbers after the bell on Wednesday.

Analysts pointed out that advertisers continue to spend money on the platform with record user growth and revenue still increasing and maybe things aren’t as bad as feared. “We’ve started to turn a corner and have a clear plan for what we need to do now,” CEO Mark Zuckerberg said on the earnings call.

Shares of the company were up more than 11 percent at the open.

Morgan Stanley analyst Brian Nowak titled his note, “This story is starting to get good,” and raised his price target to $190. He went on to say, “Facebook’s strong finish to 2018 – across the board 4Q revenue, EBIT, EPS and active user beats – speaks to the strength of its engagement, ad offering and ability to drive earnings power … even while navigating public scrutiny and aggressively investing to improve its platform safety/security, product offerings, and monetization.”

Evercore ISI analyst Anthony DiClemente said, “while growth should continue to slow near-term, longer term opportunities remain compelling as does broader bull thesis.”

Bank of America’s Justin Post went so far as to say: “While the 2019 margin outlook will continue to draw questions, we think 1Q revenue outlook appears conservative with upside potential.”

Mark Mahaney from RBC raised his price target, saying: “We feel we could be in a period of sustained rerating as the worst Facebook fears appear not to have been realized.”

UBS analyst Eric Sheridan had a slightly different take, pointing out that, “while management tone and operating strength is now better than mid-2018, we remain on the sidelines as the move from Q4 lows (~$130) to current stock price (~$170) has already provided a solid rebound ahead of 2019 (which still contains product/platform transition & regulatory volatility that should be factored into the risk/reward).”

Here’s what the other analysts think:


Company: cnbc, Activity: cnbc, Date: 2019-01-31  Authors: michael bloom
Keywords: news, cnbc, companies, heres, facebooks, price, blowout, analyst, think, facebook, user, revenue, continue, good, earnings, went, starting, analysts


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Sheryl Sandberg defends Facebook data-collecting app: Users ‘knew they were involved and consented’

“The important thing is that the people involved in that research project knew they were involved and consented,” she said. A Facebook spokesperson told CNBC earlier, “Key facts about this market research program are being ignored. Despite early reports, there was nothing ‘secret’ about this; it was literally called the Facebook Research App. It wasn’t ‘spying’ as all of the people who signed up to participate went through a clear on-boarding process asking for their permission and were paid to


“The important thing is that the people involved in that research project knew they were involved and consented,” she said. A Facebook spokesperson told CNBC earlier, “Key facts about this market research program are being ignored. Despite early reports, there was nothing ‘secret’ about this; it was literally called the Facebook Research App. It wasn’t ‘spying’ as all of the people who signed up to participate went through a clear on-boarding process asking for their permission and were paid to
Sheryl Sandberg defends Facebook data-collecting app: Users ‘knew they were involved and consented’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: christine wang, julia boorstin
Keywords: news, cnbc, companies, stock, app, signed, consented, knew, involved, program, participate, sandberg, research, market, users, datacollecting, facebook, defends, told, sheryl, went


Sheryl Sandberg defends Facebook data-collecting app: Users 'knew they were involved and consented'

‘We have a lot of hard work to do preventing harm on our platform’: Facebook COO Sheryl Sandberg 7 Hours Ago | 07:12

Facebook users went through a “rigorous consent flow” before participating in its market research program, Chief Operating Officer Sheryl Sandberg told CNBC’s Julia Boorstin on Wednesday.

Earlier Wednesday, Apple revoked some developer privileges after TechCrunch reported that Facebook paid some users to download an app that enabled the company to track user behavior on their mobile devices, including private messages.

“The important thing is that the people involved in that research project knew they were involved and consented,” she said.

Sandberg emphasized that Facebook made the project “very clear” to participants and compensated them for their participation.

A Facebook spokesperson told CNBC earlier, “Key facts about this market research program are being ignored. Despite early reports, there was nothing ‘secret’ about this; it was literally called the Facebook Research App. It wasn’t ‘spying’ as all of the people who signed up to participate went through a clear on-boarding process asking for their permission and were paid to participate. Finally, less than 5 percent of the people who chose to participate in this market research program were teens. All of them with signed parental consent forms.”

Sandberg’s comments come after Facebook posted a record fourth-quarter profit, sending the stock more than 11 percent higher in after-hours trading. The social media company also reported growth in both daily and monthly active users.

Facebook delivered those results despite continued bad publicity about the company’s privacy practices, which had contributed to a more than 19 percent decline in its stock over the past year.


Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: christine wang, julia boorstin
Keywords: news, cnbc, companies, stock, app, signed, consented, knew, involved, program, participate, sandberg, research, market, users, datacollecting, facebook, defends, told, sheryl, went


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