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An appeals court ruled more than 3,000 lawsuits against Meta, Google, TikTok and Snapchat over addictive design claims targeting youth can proceed.
Alphabet (NasdaqGS:GOOGL) faces more than 3,000 youth addiction lawsuits in US federal court after a key ruling denied dismissal efforts by major social media companies. The court decision leaves Google and peers exposed to potential legal findings on platform design and user harm, with possible knock-on effects for future regulation. FactSet data shows Alphabet has had an outsized impact on S&P 500 earnings growth this quarter, highlighting its weight in overall index performance. The...
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Platforms like Meta, TikTok, Snapchat, and Google are facing a long road of litigation.
The appeals court ruled Section 230 provides a liability defense, not immunity, making Meta's appeal premature
A U.S. appeals court on Monday allowed thousands of lawsuits to move forward against Meta Platforms, Alphabet's Google, ByteDance's TikTok, and other social media companies over claims they designed their products to be addictive to young users. The San Francisco-based 9th U.S. Circuit Court of Appeals rejected the companies’ bid to reverse a lower court’s ruling forcing them to face some 2,400 lawsuits over the claims filed in federal court. The companies, which also include Snap Inc's Snapchat, had argued that Section 230 of the Communications Decency Act of 1996 - which shields them from lawsuits over content posted by their users - also shields them from allegations that they failed to warn the public about the addictive nature of their platforms.
Sandisk shattered Wall Street estimates for its fiscal fourth quarter as relentless hyperscaler demand for AI data storage triggered severe capacity bottlenecks and surging memory chip prices.
The Dow Jones hit a new high thanks to Nvidia, but Google, SpaceX and AMD weighed on the Nasdaq. Sandisk, Western Digital fell late.
SpaceX shares dropped 14%. Elon Musk’s space company late Tuesday said its capital expenditures topped $18 billion last quarter, double the previous quarter’s total, mainly tied to its artificial-intelligence build-out. AMD shares also fell 7% after Musk said SpaceX would exclusively use chips from rival Nvidia, shares of which gained 4%.
Google DeepMind CEO Demis Hassabis is transitioning to DeepMind chair, as Google chief scientist Jeff Dean exits.
Uber reported second-quarter results on Wednesday that beat on bookings and profit, but shares fell as the ride-hailing giant's bookings guidance missed analyst projections. Uber says its robotaxi push is still well underway, with investments set to grow.
Palantir Technologies Inc. (NASDAQ:PLTR) reported unrealized gains from its investment in Space Exploration Technologies Corp. (NASDAQ:SPCX), boosting its second-quarter earnings, making it the latest major technology company to benefit from the Elon Musk-led company’s blockbuster public debut. SpaceX Stake Added to Quarterly Earnings During the company’s second-quarter earnings call on Monday, CFO David Glazer said unrealized gains from the company’s SpaceX investment contributed $0.03 to GAAP
SpaceX stock was lower in premarket trading on Monday. July was a brutal month for the company's shares.
Reddit shares plunged the most on record on Friday after US daily users, lack of new AI deal announcements dissapointed investors.
Apple shares were falling hard early Friday, puncturing the iPhone maker’s recent strong run. But analysts at Citi think there are still grounds to back the stock. Apple shares were down 7.4% at $308.
Meta Platforms stock cratered Thursday after a quarterly report that beat on revenue but raised serious questions about where billions in AI spending actually leads, and Wall Street's response was swift and brutal.
Meta Platforms stock (META) continues to drop since coming out with second quarter earnings on Wednesday. Yahoo Finance Tech Editor Dan Howley breaks down how investors are reacting to the Facebook parent company's vague guidance on full-year AI capex.
Meta fell and Microsoft rallied after sending very different signals on how they’re monetizing their massive AI outlays.
Investors are laser focused on capex heading to Meta' earnings report.
Meta reported its Q2 earnings after the bell on Wednesday.
Chip stocks declined, with a big week of tech earnings looming. The Nasdaq composite fell 0.2%, while the Dow industrials rose 0.5%.
Alphabet and Tesla both missed expectations on the same day and both got sold off, but the fundamentals behind those two drops could not be more different. One company is bleeding. The other is spending by choice.
Earnings season kicks into high gear this week.
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