Netflix blames its content slate, regional price increases and a "pull-forward effect" of its strong Q1 growth for the miss.Technologyread more
Netflix lost paid U.S. subscribers for the first time in eight years and fell below analyst estimates for international subscriber growth.Tech Driversread more
The Philadelphia Fed saw its primary gauge measuring the sector jump from 0.3 in June to 21.8, far better than Wall Street estimates of 5 and the highest in a year.Economyread more
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Revenue of $10.24 billion exceeded the consensus estimate by almost $250 million.Financeread more
Treasury Secretary Steven Mnuchin says if the call goes well, he would expect in-person meetings to take place.Marketsread more
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Jeffrey Epstein, a former friend of presidents Donald Trump and Bill Clinton, had asked a judge to release him on a bond of as high as $100 million or more.Politicsread more
The filing came a day after the judge in Michael Cohen's criminal case ordered their release, saying that the end of a probe into those payments to alleged sexual partners of...Politicsread more
The strengthening of the president's formidable campaign war chest has led his organization, along with the Republican National Committee, to raise over $100 million in the...2020 Electionsread more
Facebook's stock closed at a record on Friday, gaining nearly 5 percent as the company shook off the effects of a privacy scandal that engulfed it earlier this year.
The social network's shares soared to an all-time intraday high of $203.64 a share, before closing at a new record just below that price. That translated Facebook's market value to nearly $590 billion.
Facebook's move pushed CEO Mark Zuckerberg’s net worth closer to the top of the list in rankings of the world’s wealthiest, and he now sits in third place on the Bloomberg Billionaires Index, just ahead of Warren Buffett. Around market close, the tech executive briefly passed the Berkshire Hathaway billionaire. Bloomberg estimates the Zuckerberg is now worth $79.7 billion. He is ranked as the fifth wealthiest person in the world on Forbes' list, just behind LVMH CEO Bernard Arnault. Forbes estimates that Zuckerberg is worth about $77.1 billion.
Friday’s gains mark a complete recovery from March, when Facebook shares hit a 52-week intraday low of $149.02 per share, following reports the company mishandled data from about 87 million users.
Facebook's data woes are far from over, although investors no longer seem concerned. On Monday, the social media company confirmed that the FBI, SEC, and FTC have all joined the Justice Department in asking questions about user data being improperly shared with political consulting firm Cambridge Analytica.
Facebook shares dipped after the reports, but made a strong comeback later in the week. The stock has gained about 15 percent so far in 2018.