Facebook (FB) Announces Drew Houston to Board

As coronavirus misinformation spreads on social media, Facebook removes posts

By Katie Paul

SAN FRANCISCO (Reuters) - Facebook Inc (NASDAQ: FB) said it will take down misinformation about China's fast-spreading coronavirus, in a rare departure from its usual approach to dubious health content that is presenting a fresh challenge for social media companies.

The coronavirus outbreak has stoked a wave of anti-China sentiment around the globe. Hoaxes have spread widely online, promoted by conspiracy theorists and exacerbated by a dearth of information from the cordoned-off zone around China's central city of Wuhan, where the outbreak began.

Nearly 12,000 people have been... More

U.S.-UK trade deal needs labor, climate protections, enforcement: U.S. lawmaker

By Andrea Shalal

WASHINGTON (Reuters) - A future U.S.-UK trade agreement must incorporate strong provisions on worker rights, environmental protection, and enforcement to ensure bipartisan support, U.S. House Ways and Means Committee Chairman Richard Neal said on Friday, staking out a claim for Congress to help shape any such accord.

Neal, a Democrat, said he expected to work closely with U.S. Trade Representative Robert Lighthizer in forging a new U.S.-UK trade deal after Britain's left the European Union on Friday.

Britain is the closest U.S. ally but the two... More

Facebook (FB) Extends Yesterday's Decline, Down 1.6%

Facebook (NASDAQ: FB) Extends Yesterday's Decline, Down 1.6%

Snap Inc (SNAP) is Taking Share From Facebook - Needham

Needham & Company analyst Laura Martin reiterated a Hold rating on Snap Inc (NYSE: SNAP) after meeting with the CEO of a large social media agency to discuss spending trends among social media outlets. Takeaways include:

Global tax rules set for overhaul as states seek to avoid new trade war

By Leigh Thomas

PARIS (Reuters) - Outdated cross-border tax rules are set to be rewritten after 137 states sought this week to avoid a new trade war over the global multiplication of taxes on digital services.

Amazon (NASDAQ: AMZN), Facebook (NASDAQ: FB) and Google (NASDAQ: GOOGL) have strained existing rules to breaking point because such tech giants are able to book profits in low-tax countries like Ireland, no matter where their customers are located.

Government... More

Facebook to remove coronavirus misinformation after WHO declares global emergency

By Katie Paul

SAN FRANCISCO (Reuters) - Facebook Inc said on Thursday it will take down misinformation about China's fast-spreading coronavirus in a rare departure from its approach to health content, after the World Health Organization declared the outbreak a global health emergency.

The world's biggest social network said in a blog post that it would remove content about the virus "with false claims or conspiracy... More

Governments to launch overhaul of international tax rules: sources

PARIS (Reuters) - Tax officials from nearly 140 governments are set to commit on Thursday to a rewrite of cross-border tax rules despite little progress narrowing deep differences, two delegates attending the meeting in Paris said.

The Organization for Economic Cooperation and Development (OECD) has called a news conference on Friday to present the outcome of the talks this week at its Paris headquarters.

"They are probably going to put out a statement focusing on points of convergence. But there is still huge divergence of views," one delegate told Reuters during a break from meeting.

Another delegate... More

Facebook (FB) Pares Decline, Still Down 5.75%

Facebook (NASDAQ: FB) Pares Decline, Still Down 5.75%

Facebook shares hit by slowest growth in years, higher expenses

(Reuters) - Shares of Facebook Inc (NASDAQ: FB) fell 7% on Thursday after the social media giant posted its slowest quarterly growth since its market debut as expenses mount and warned of continued stagnant growth.

The dire forecast prompted six Wall Street analysts to cut their price targets with Pivotal Research reducing its own target by $30 to... More

Pre-Open Stock Movers 1/30: (MGEN) (TLSA) (NOW) Higher (SNDL) (BGG) (TSCO) Lower (more...)

Today's Pre-Open Stock Movers

miRagen Therapeutics, Inc. (NASDAQ: MGEN) 27.8% HIGHER; announced new efficacy and safety data from the ATLL arm of its ongoing Phase 1 clinical trial of cobomarsen, which will be presented at the 12th Annual T-Cell Lymphoma Forum in La Jolla, CA, which is taking place from January 30th to February 1st. Of note are the data from the subtype of aggressive ATLL patients who at study... More

Facebook (FB) PT Lowered to $246 at UBS

UBS analyst Eric Sheridan lowered the price target on Facebook (NASDAQ: FB) to $246.00 (from $250.00) while maintaining a Buy rating.... More

Facebook (FB) PT Raised to $265 at Oppenheimer

Oppenheimer analyst Jason Helfstein raised the price target on Facebook (NASDAQ: FB) to $265.00 (from $230.00) while maintaining a Outperform rating.

The analyst commented, "We are raising our target to $265 from $230, as we roll our valuation framework to 2021, and maintain our Outperform rating.... More

Wall Street reverses course to end higher after WHO comments

By Chuck Mikolajczak

NEW YORK (Reuters) - U.S. stocks rebounded late to close higher on Thursday after the World Health Organization (WHO) declared the China coronavirus a global emergency, while earnings painted a mixed picture.

After the Centers for Disease Control and Prevention reported the first U.S. incident of person-to-person spread of the virus, the WHO said recent weeks have seen an unprecedented outbreak, met by an unprecedented response. It said it was not recommending limiting trade or travel to China.

"The market is starting to look at this and say at some... More

Facebook (FB) 1Q Step Down is Only a Small Reduction for Q1 - Deutsche Bank

Deutsche Bank analyst Lloyd Walmsley reiterated a Buy rating and $280.00 price target on Facebook (NASDAQ: FB) after the company reiterated guidance consistent with last quarter for 2020 ad growth showing a modest step down from 4Q19 relative to the 3Q to 4Q step-down.

The... More

Facebook (FB) Needs and Has New Revenue Sources But They May Not Ramp Fast Enough to Offset Decelerating Growth - Bernstein

Bernstein analyst Mark Shmulik reiterated an Outperform rating and $250.00 price target on Facebook (NASDAQ: FB) after the company met sell-side consensus across all key metrics: revenue growth (26% Y/Y), DAU growth (9% Y/Y), and EBIT (13% Y/Y before adding back legal charge). FB revenue... More

Facebook (FB) PT Raised to $265 at SunTrust

SunTrust analyst Youssef Squali raised the price target on Facebook (NASDAQ: FB) to $265.00 (from $250.00) while maintaining a Buy rating.

The analyst comments "We remain bullish on FB/raise our PT to $265 from $250 following a 4Q19 beat across all financial/user metrics, despite... More

Facebook (FB) PT Raised to $263 at Rosenblatt

Rosenblatt analyst Mark Zgutowicz raised the price target on Facebook (NASDAQ: FB) to $263.00 (from $244.00) while maintaining a Buy rating.

The analyst commented, "While we see a 20 revenue and expense bar firmly in place, given regulatory optics discussed below, we expect an echoing of... More

Facebook (FB) PT Raised to 'Street High' $285 at Susquehanna; 'Back Up the Truck'

Susquehanna analyst Shyam Patil raised the price target on Facebook (NASDAQ: FB) to a 'Street High' $285.00 (from $245.00) while maintaining a Positive rating, saying "back up the truck" on sell-off.

Patil commented, "FB delivered a strong 4Qunfortunately, expectations were high as seen... More

Facebook (FB) PT Lowered to $250 at BofA Securities

BofA Securities analyst Justin Post lowered the price target on Facebook (NASDAQ: FB) to $250.00 (from $260.00) while maintaining a Buy rating.

Facebook (FB) PT Lowered to $255 at RBC Capital

RBC Capital analyst Mark Mahaney lowered the price target on Facebook (NASDAQ: FB) to $255.00 (from $270.00) while maintaining an Outperform rating.

The analyst commented, "FB printed Modest Beat Q4 results vs. Street Revenue & Operating Inc estimates, but the Beat Magnitude wasnt as great as... More

Facebook (FB) PT Lowered to $248 at KeyBanc

KeyBanc analyst Andy Hargreaves lowered the price target on Facebook (NASDAQ: FB) to $248.00 (from $263.00) while maintaining a Overweight rating.... More

Facebook (FB) PT Lowered to $272 at Credit Suisse

Credit Suisse analyst Stephen Ju lowered the price target on Facebook (NASDAQ: FB) to $272.00 (from $274.00) while maintaining a Outperform rating.... More

Facebook (FB) IV elevated, shares trading lower in pre-market

Facebook (NASDAQ: FB) January weekly call option implied volatility is at 84, February is at 45; compared to its 52-week range 22 to 43 on less than expected revenue growth after a recent run up of share price.

Options expected to have increasing volume: TSLA FB SNAP MSFT RDS.A DB LB LVS CREE X

Options expected to have increasing volume: TSLA FB SNAP MSFT RDS.A DB LB LVS CREE X

Popular stocks with increasing unusual: XOM GE AMD SBUX GS FB MSFT T TSLA

Popular stocks with increasing unusual: XOM GE AMD SBUX GS FB MSFT T TSLA

UPDATE: Pivotal Research Downgrades Facebook (FB) to Hold on Weaker Than Expected US Advertising, Continued Headwinds

(Updated - January 30, 2020 4:29 AM EST)

(updating comment)

Pivotal Research analyst Michael Levine downgraded Facebook (NASDAQ: FB) from Buy to Hold with a price target of $215.00 (from $245.00).

The analyst comments "We are reducing our rating to HOLD from... More

BOJ must be ready to issue digital currencies: deputy governor Amamiya

By Leika Kihara

TOKYO (Reuters) - The Bank of Japan must be ready to issue digital currencies if rapid technical advances in settlement systems boost public demand, its deputy governor said, leaving open the chance of issuing central bank digital currencies (CBDC) in the future.

Masayoshi Amamiya said the BOJ had no immediate plans to issue CBDCs as various factors must be scrutinized, such as the impact on monetary policy and measures to ensure strict security... More