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A number of stocks fell in the afternoon session after rising Treasury yields compressed valuations for growth-oriented names as geopolitical uncertainty dulled the advertising outlook.
A number of stocks fell in the afternoon session after rising Treasury yields compressed valuations for growth-oriented names as geopolitical uncertainty dulled the advertising outlook.
A number of stocks fell in the afternoon session after rising Treasury yields compressed valuations for growth-oriented names as geopolitical uncertainty dulled the advertising outlook.
SYDNEY, June 4 (Reuters) - Meta accused Australia of violating a free trade agreement with the U.S. by proposing a new tax on certain tech giants which do not strike licensing deals with local media,
Tech giant Meta on Thursday attacked Australia's "grossly unfair" bid to make social media companies pay for news, saying it is vehemently opposed to the draft laws."Our position is clear: this law is poorly designed, grossly unfair, and will fail to deliver a diverse and sustainable news industry," said Meta, the parent company of Facebook and Instagram.
Tech giant Meta on Thursday attacked Australia's "grossly unfair" bid to make social media companies pay for news, saying it is vehemently opposed to the draft laws."Our position is clear: this law is poorly designed, grossly unfair, and will fail to deliver a diverse and sustainable news industry," said Meta, the parent company of Facebook and Instagram.
<body><p>STORY: Wall Street's main indexes tumbled on Wednesday, with the Dow losing about 1.2%, the S&P 500 shedding about three-quarters of a percent and the Nasdaq falling roughly nine-tenths of a percent.</p><p>Flaring tensions in the Middle East and rising crude prices stoked inflation jitters and convinced investors to take some profits.</p><p>Energy stocks, buoyed by oil prices, enjoyed the largest percentage gains, with Exxon Mobil and Chevron both closing higher. </p><p>Meanwhile, six of the Magnificent Seven group of megacap tech stocks ended lower, with Meta the only exception.</p><p>Liz Miller is founder and president of Summit Place Financial Advisors.</p><p>"I more and more just keep seeing this market as a ping pong. One day we've got the momentum leading tech stocks up and then that drives all the indices up. And the next day we've got sort of the second tier undervalued companies up and the index is down. [FLASH] Today's again, one of those days where we're seeing energy with the most strength. We're seeing some of the consumer come through, some of the industrial, but techs are marginally down. And that's what I mean when I think about this market as a ping pong market, because these are high quality companies, they're large cap, they would be top tier fundamentally, but they haven't really participated as much in the index strength."</p><p>Among individual movers, shares of GameStop jumped 6% after the original meme stock posted a rise in quarterly revenue and unveiled a $2 billion share buyback program.</p><p>Shares of Crowdstrike, down nearly 3% at the close, dropped about another 10% in extended trading after the cyber security company reported a 15% jump in its first-quarter operating expenses as it ramps up investments in AI and product development.</p><p>And shares of Broadcom fell more than 6% in extended trading despite the company forecasting third-quarter revenue above Wall Street expectations, betting on robust demand for its custom AI chips and networking gear.</p></body>
By David Shepardson WASHINGTON, June 3 (Reuters) - The Federal Communications Commission said on Wednesday it plans to toughen oversight of submarine communications cables that handle 99% of
It's rolling out a promising new product worldwide.
Shares of social network operator Meta Platforms (NASDAQ:META) jumped 3.2% in the morning session after sentiment improved following an enterprise AI product launch, and an analyst upgrade.
Alphabet is funding a larger AI buildout, leaving shareholders to weigh whether Gemini usage and Google Cloud demand can translate into stronger cash-flow returns.
Broadcom forecast third-quarter revenue above Wall Street expectations on Wednesday, betting on robust demand for its custom AI chips and networking gear. However, shares of the Palo Alto, California-based company fell more than 2% in extended trading. They had gained nearly 8% last week in the run up to earnings.
Meta's partial court win eases Marketplace pressure, but Messenger remains under Europe's Big Tech rulebook.
New agentic tool targets daily operations for businesses of all sizes across WhatsApp, Instagram, and Messenger
Meta appears to have listened to the Supernatural users who protested the app's sad fate after sweeping layoffs.
The S&P 500 and Nasdaq could close lower for the first time in more than two weeks, and big tech stocks were a big reason why. The S&P was down 0.6%, while the Nasdaq was down 0.9%. The Dow was down 416 points, or 0.
EU Court Questions Marketplace Label, Upholds Messenger Status
Two shareholder proposals requested independent reports on whether Palantir’s software contributes to human rights abuses by government clients.
Meta introduces Meta Business Agent globally which can respond to customers 24x7.
<body><p>STORY: Shares of Meta rose more than 3% in morning trading on Wednesday, after the social media giant unveiled an AI agent designed to help businesses carry out day-to-day operations.</p><p>The move marks Meta's latest push into the fast-growing enterprise AI market.</p><p>Mark Zuckerberg's company said the new product expands on existing business messaging services by enabling "agentic" capabilities in which the assistant can, for example, book calendar appointments and close sales on behalf of businesses.</p><p>It said more than 1 million businesses were already using earlier chatbot versions of such agents on WhatsApp and Messenger. The new version will be added to Instagram as well.</p><p>The move hints at Meta's ambitions to compete with rivals like OpenAI, Anthropic and Google in the market for enterprise applications of its AI tools, leveraging the reach of its WhatsApp, Instagram and Facebook apps.</p><p>The company is also launching a broader "Business Agent Platform" aimed at giving businesses the tools to build custom AI agents to help them manage their operations elsewhere.</p><p>That platform is connected to hundreds of non-Meta systems, including Shopify.</p></body>
RDDT benefits from ad revenue, ARPU and advertiser growth as Shopify integration expands, but valuation, competition and macro headwinds cloud upside.
Broadcom shares sank in pre-market following the chipmaker's quarterly results.
Broadcom shares sank in pre-market following the chipmaker's quarterly results.
Broadcom shares sank in pre-market following the chipmaker's quarterly results.
Broadcom shares sank in after-hours following the chipmaker's quarterly results.
Broadcom shares edged higher ahead of the company's earnings on Wednesday.
Meta Platforms is spending heavily on artificial intelligence, weighing on investor sentiment. Morgan Stanley argues the company’s AI investments could unlock billions in new revenue and earnings growth.
The size of the AI boom has been well demonstrated by hyperscalers like Alphabet and Nvidia, but when stocks like Dell Technologies and Hewlett Packard transform into AI players, you know the cycle has taken on a new dimension.
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