Facebook Stock Decline Is Largest One-Day Drop in U.S. History
Facebook Stock Decline Is Largest One-Day Drop in U.S. History
Facebook stock dives nearly 20% on warning of slow revenue growth
28 July, 2018, 19:51
He was listed Thursday as $81.9 billion poorer than Jeff Bezos, who still hold the top spot on that list.
Chief financial officer David Wehner triggered the selloff when he said sales growth would continue to slow through the rest of the year. The social media company has contended for years with criticism about its content policies, its failure to safeguard private data and its changing rules for advertisers. Those problems hadn't mattered to the success of the business - until now.
Wall Street investors have recently seemed to think that tech stocks were a slam-dunk, Facebook's a reminder that in the stock market, there are no guarantees. On Thursday, he lost $17 billion of his fortune, Facebook shares dipped nearly 20 percent, and now, some shareholders want his influence on the company reduced. Eastern time. Snap's shares were down by more than 2 percent. We're starting to see that this quarter.
RBC Capital Markets analyst Mark Mahaney said the drop creates a rare buying opportunity for Facebook shares.
‘Russia will push hard for a Democrat win’ The White House is also inviting Mr Putin to Washington this fall, for a first visit of a kind since 2005. Instead, GOP leaders are considering new sanctions on Russian Federation .
Gene Munster, a venture capitalist at Loup Ventures, said in an email that Facebook is "entering a new period" where declining user growth will translate to slower revenue growth. "Facebook has also been sucked into the probe into alleged Russian meddling in the 2016 presidential election". "Our view is that the company is far from out of the woods", Brian Wieser of Pivotal Research said. Global DAU rates increased by 11% compared to the year-ago quarter, but they were still below what Wall Street was calling for. Analysts were expecting $2.1 billion, according to Thomson Reuters. "Deceleration such as management guided towards suggests that while the company is still growing at a fast clip, the days of 30%+ growth are numbered". However, average revenue per user in the region rose despite the lack of growth.
Facebook's shares recovered somewhat after the call.
Facebook has been playing favorites with certain users and companies who lean left politically, silencing pro-Trump people and companies including the influential Diamond and Silk. I saw them sprawled out across airports recently when I traveled, and it was definitely weird to see them.in-person, letting me know they're protecting my data more, on my phone. all while I know they don't. The company may have halted more ad purchases than expected as it applied a broad definition of what's considered "political". There are suggestions that Facebook itself has been hinting at a slowdown for some time - but the markets failed to see it coming, hence their panic.
Cutting Zuckerberg's influence on Facebook has previously been rejected by shareholders. The company said it now expects third-quarter sales of between $54 billion (roughly Rs. 3.7 lakh crores) and $57.5 billion, up from $43.7 billion a year earlier.
Shares traded 19% lower on Thursday, wiping out $US120 billion ($AU162.6 billion) in market value. That surprised investors because of the belief that the new laws wouldn't hurt revenue. Mobile now makes up 91% of the company's advertising revenue.
The lunar eclipse 2018 will happen tonight, marking the longest total such eclipse till 2123 , i.e. for over 100 years. When the moon moved into the conical shadow of the earth, it went from being illuminated by the sun to being dark.
And let's not forget Trump's obsession with European military spending. "Sales have been great ever since 2015", she said. So what do the two sides want? "And we are going to be pushing the administration for a long-term solution.
Iranian president Hassan Rouhani has said there is no need to respond to United States leader Donald Trump's "empty threats". The other signatories to the deal, including France, the United Kingdom and Germany, have vowed to stand by it.
TMZ claimed friends confronted the Camp Rock star about her actions, and tried to offer her help in a bid to get back to sobriety. She emerged with the album "Unbroken" in 2011, detailing her recovery in the ballad "Skyscraper".
Dumoulin, a time trial specialist and strong climber racing for Sunweb, was always likely to emerge as Sky's closest challenger. A member of the Gendarme caused the two men to stop abruptly and crash before he then pulled Chris Froome off his bicycle.
Actress Roseanne Barr waves on her arrival to the 75th Golden Globe Awards in Beverly Hills, California, U.S., January 7, 2018. He went on to say, "I just want to find out what it was all about, why it happened, the lead up to it, the aftermath of it".
Roads out of the city, which is home to 90,000 people, have been left jammed with motorists trying to escape the flames. Director Kyle Pickett is now leaving the Redding area after an evacuation order. "Wildfires are getting more erratic".
Such changes will surely only help boost her efforts to fit in with the Royals and take the worldwide stage as a humanitarian. However, for all the praise she has been receiving, Meghan has also attracted a fair amount of scorn from royal commenters.
The storm is expected to produce rainfall amounts between three-quarters of an inch and an inch and a quarter, NWS said. Remember the Storm Team 12 app can always bring you the latest weather alerts for your location as well as Titan Radar.
Number of Italian major champions as of 6:53 p.m.in Carnoustie, the moment Molinari officially became the British Open champion. The 42 year old said he had enjoyed being in contention again at the front as he put loss of form and injuries behind him.
Spieth walked to the tee with coach Cameron McCormick and asked him, "How about I just send it on No. 1?" "I'm relearning. Rose is No. 3 and almost joined them until he made an 18-foot birdie putt on the last hole to make the cut on the number.
Russia's Putin tells Trump: 'Be my guest in Moscow'
Russian Federation and the United States have a stake in that, the whole word has a stake in that, in not starting an arms race. It led to him reading out a clarification in which he said he had misspoken, mixing up the word "would" with "wouldn't" .
Longest Blood Red Moon Witnessed Friday for Two Hours
Those of you in the United Kingdom should look for this eclipse starting in at around 11PM (that's 23:00 hours) local time. During an annular eclipse, NASA uses ground and space instruments to view the corona when the moon blocks the sun's glare.
Arsenal boss Emery predicts 'big season' for Ozil
Ozil also blamed the German Football Federation (DFB) for failing to defend him against his most strident critics. Arsenal take on Atletico Madrid at the National Stadium before they also play Paris St Germain on Sunday.
Why Imran Khan as Pakistan PM is a concern for India
Elections were also held on Wednesday for four provincial assemblies-Punjab, Sindh, Balochistan and Khyber-Pakhtunkhwa. Wednesday's election will be only the second civilian transfer of power in Pakistan's 71-year history.
Pakistan's Who's Who vote in knife-edge election
Pakistani election officials receive ballot boxes and voting materials at a distribution centre in Peshawar on July 24, 2018. Authorities have ordered the deployment of more than 800,000 troops and police to guard polling stations across the country.