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☆ NBCUniversal names insider Rick Cordella president of sports division
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

General Sport - Leaders Sport Summit2012 - Stamford Bridge - 10/10/12 Rick Cordella, SVP and GM NBC Sports and Olympics Digital during a talk called "The Digital Olympics: Expensive experiment or a new era in sport?" during the summit Mandatory Credit: Action Images / Matthew Childs/File Photo Acquire Licensing RightsSept 22 (Reuters) - Comcast's (CMCSA.O) NBCUniversal on Friday appointed veteran executive Rick Cordella as president of its sports division. Cordella will take charge of NBC Sports' platforms including NBC Olympics, Golf Channel and oversee sports on the company's streaming platform Peacock, home to Sunday Night Football and NASCAR. He was most recently president of programming for NBC Sports and Peacock Sports. In the role, he led NBCUniversal's sports programming strategy across broadcast, cable and streaming and oversaw sports betting and sports fantasy.

Persons: Rick Cordella, Matthew Childs, NBCUniversal, Cordella, Arsheeya, Dawn Chmielewski, Shailesh Organizations: Sport, Summit2012, GM NBC Sports, Olympics, NBC Sports, NBC, Golf Channel, Sunday Night Football, NASCAR, Peacock, Thomson Locations: Stamford, Bengaluru, Los Angeles

☆ TikTok fined 345 million euros over handling of children's data in Europe
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +3 min

EU flag and TikTok logo are seen in this illustration taken, June 2, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies TikTok FollowMeta Platforms Inc FollowDUBLIN, Sept 15 (Reuters) - TikTok has been fined 345 million euros ($370 million) for breaching privacy laws regarding the processing of children's personal data in the European Union, its lead regulator in the bloc said on Friday. The DPC gave TikTok three months to bring all its processing into compliance where infringements were found. It has a second probe open into the transferring by TikTok of personal data to China and whether it complies with EU data law when moving personal data to countries outside the bloc. The DPC has hit other tech giants with big fines, including a combined 2.5 billion euros levied on Meta (META.O).

Persons: Dado Ruvic, TikTok, Padraic Halpin, Jason Neely Organizations: REUTERS, European Union, Data Protection, Meta, Thomson Locations: Ireland, China

☆ What planning my digital afterlife at age 27 taught me about my millennial FOMO
▼ + stars: | 2023-09-11 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +6 min

But recently, X, formerly known as Twitter, was called out by grieving relatives for purging accounts belonging to their dead loved ones. But the normalization of memorialized accounts and grieving online have made the prospect of planning your digital afterlife far less absurd, he added. To be clear, MyWishes lets you create only a nonbinding plan for your digital accounts. It doesn't allow you to pass along information such as passwords or give your loved ones full control of your social media. AdvertisementAdvertisementStill, it's a useful starting point while planning your digital afterlife.

Persons: James Norris, MyWishes, —, Norris, Kai Xiang Teo, curating, Kai Xiang Teo Notably, you've, MyWishes isn't, Andy Ho, it's Organizations: Service, Apple, Meta, Google, Twitter, Nanyang Technological University Locations: Wall, Silicon

Circuit Court of Appeals for a new ruling to prevent the "improper result" of allowing parts of the lower court order "to regain effect even after having been held invalid by this court." The plaintiffs allege that U.S. officials lobby social media platforms to suppress what the government considers to be misinformation, violating users' right to free speech under the U.S. Constitution's First Amendment. While the case was still at an early stage, Doughty issued a preliminary injunction banning a wide range of communications between a slew of officials and social media companies. The panel limited the injunction's reach to a smaller group of officials, including White House staff, the Centers for Disease Control and Prevention and the Federal Bureau of Investigation. It said that the 5th Circuit should either put the parts of Doughty's order that it reversed on hold, or finalize its order immediately.

Persons: Dado Ruvic, Joe Biden's, Terry Doughty, Doughty, Brendan Pierson, Alexia Garamfalvi, Aurora Ellis Organizations: REUTERS, Justice Department, U.S, Circuit, Appeals, Biden, Democrat, District, X Corp, White House, Centers for Disease Control, Federal Bureau of Investigation, Supreme, Thomson Locations: Louisiana, Missouri, Monroe , Louisiana, New York

☆ How to Watch the Next Apple Event – and What to Expect From the iPhone 15
▼ + stars: | 2023-09-10 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

The next Apple launch event, titled "Wonderlust," is being held on Tuesday. The iPhone 15 and a new Apple Watch are set to be unveiled. Here's how to watch the Apple event – and what else to expect. This year's event is titled "Wonderlust" and the new iPhone 15 is expected to be revealed, along with several other products. Read more Insider analysis on what to expect from the iPhone 15 here.

Persons: Steve Jobs, Tim Cook, Mark Gurman, they're Organizations: Apple, Service, Steve, Apple China Locations: Wall, Silicon, California, Europe, Cupertino, Beijing

A logo of Meta Platforms Inc. is seen at its booth, at the Viva Technology conference dedicated to innovation and startups, at Porte de Versailles exhibition center in Paris, France June 17, 2022. REUTERS/Benoit Tessier Acquire Licensing RightsCompanies Meta Platforms Inc FollowSept 8 (Reuters) - A U.S. federal judge said Meta Platforms (META.O) must face a lawsuit claiming that it violated the medical privacy of patients who were treated by hospitals and other healthcare providers that used its Meta Pixel tracking tool. According to the plaintiffs, Meta Pixel provided sensitive information about their health to Meta when they logged into patient portals, where the tracking tool had been installed, enabling Meta to make money from targeted advertising. When the litigation began in June 2020, lawyers for one plaintiff said they had found at least 664 hospitals and other healthcare providers that used Meta Pixel. The case is In re Meta Pixel Healthcare Litigation, U.S. District Court, Northern District of California, No.

Persons: Benoit Tessier, William Orrick, Meta, Orrick, John Doe, Jane Doe, Jonathan Stempel, Jason Neely Organizations: Meta, Inc, Viva Technology, Porte de, REUTERS, U.S, Facebook, Menlo, Healthcare, Court, Northern District of, Thomson Locations: Porte, Paris, France, San Francisco, California, Menlo Park , California, Northern District, Northern District of California, New York

☆ UK has not backed down in tech encryption row, minister says
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

Britain's Secretary of State for Science, Innovation and Technology Michelle Donelan walks on Downing Street in London, Britain March 15, 2023. Junior minister Stephen Parkinson appeared to concede ground to the tech companies' arguments on Wednesday, saying in parliament's upper chamber that the Ofcom communications regulator would only require them to scan content where "technically feasible". Tech companies have said scanning messages and end-to-end encryption are fundamentally incompatible. Donelan, however, denied on Thursday that the bill had been watered down in the final stages before it becomes law. She said further work to develop the technology was needed, but added that government-funded research had shown it was possible.

Persons: Technology Michelle Donelan, Peter Nicholls, Michelle Donelan, Stephen Parkinson, Paul Sandle, Helen Popper Our Organizations: State for Science, Innovation, Technology, REUTERS, Junior, Ofcom, Tech, Times Radio, Thomson Locations: London, Britain

☆ Nvidia's market cap climbs amid tech turbulence in August
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. Nvidia's shares surged last month, boosted by its quarterly revenue forecast, which exceeded analyst expectations as the artificial intelligence boom fuels demand for its chips. The market capitalization of Apple (AAPL.O) and Microsoft Corp's (MSFT.O) shares declined 4.4% and 2.4%, respectively, while Meta Platforms Inc's shares fell 7.1%. Meanwhile, Berkshire Hathaway's (BRKa.N) market cap rose over 2% last month, as its shares touched a record high after the company's quarterly operating profit topped $10 billion for the first time. Reuters GraphicsIn China, Tencent Holdings'(0700.HK) market cap declined about 9% last month, as its core gaming business experienced weaker-than-expected growth in the quarter through June.

Persons: Dado Ruvic, behemoths, Apple, Johnson, Patturaja Murugaboopathy, Gaurav Dogra Organizations: NVIDIA, REUTERS, Nvidia, Reuters, Apple, Microsoft, Berkshire Hathaway's, Reuters Graphics, Tencent Holdings, HK, Thomson Locations: Berkshire, China, U.S, Bengaluru

☆ Champions Round, a Gen-Z fantasy sports app that raised $10 million, is winding down and looking to sell its assets
▼ + stars: | 2023-08-29 | by ( Ashley Rodriguez | Margaret Fleming | ) www.businessinsider.com time to read: +4 min

Champions Round, a startup that raised $10 million to disrupt fantasy sports, is winding down. In a June 14 all-hands meeting, company leaders told staffers that Champions Round would be laying off much of its staff and preparing to sell its assets, the two people said. Champions Round is the latest startup to fold in the current culling driven by changes in the funding environment. But Champions Round initially appeared to be bucking some of these market trends. Are you an employee at Champions Round or another sports startup?

Persons: Carter Russ, It's, —, hadn't, Russ, Ashley Rodriguez, Margaret Fleming Organizations: Point72 Ventures, Goodwater, Twitter

☆ China online platforms scrap lucky draw features amid gambling crackdown
▼ + stars: | 2023-08-25 | by ( Josh Ye | ) www.reuters.com time to read: +4 min

Analysts say online content platforms pulled the plug on features such as virtual lucky draws after the government in June started cracking down on live streaming, as part of a wider clampdown on online gambling. While the platforms say they ban gambling, analysts say the extremely popular lucky draws are often manipulated by live streamers colluding with viewers to share the prize. None of these companies mentioned the gambling crackdown when they reported their earnings, and they did not respond to request for further comment. However, the co-founder of a popular live streaming platform in Guangzhou, who declined to be named citing the sensitivity of the topic, told Reuters that several popular live streaming and live chat apps had to suspend services after police probes. Online gambling remains a concern, with the authorities saying in 2020 that the cross-border flow of funds for gambling posed a national security risk.

Persons: Florence Lo, HONG KONG, Analysys, Ivan Su, Huya, Charlie Chai, Tencent, Chai, Josh Ye, Farah, Brenda Goh Organizations: Entertainment, QQ, REUTERS, Tencent, HK, Morningstar, Cloud, NetEase, Reuters, Thomson Locations: HONG, Guangzhou, Beijing

A smartphone with Meta logo is seen in front of displayed Facebook's new rebrand logo Meta in this illustration taken, October 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Meta Platforms Inc FollowOSLO, Aug 23 (Reuters) - Meta Platforms (META.O) is breaking European data privacy rules in Norway, the country's data regulator told a court on Wednesday, in a case that could have wider European implications. The fine is valid as Meta is not respecting European General Data Protection Regulation (GDPR), said Hanne Inger Bjurstroem Jahren, a lawyer representing the regulator, Datatilsynet. "There is no discussion on whether the company is in violation of these rules ... Today Meta breaks GDPR rules," she told the court, speaking on the last day of a two-day hearing. Datatilsynet could make the fine permanent by referring its decision to the European Data Protection Board, which has the power to do so, if it agrees with the Norwegian regulator's decision.

Persons: Dado Ruvic, Meta, Instagram, Hanne Inger Bjurstroem Jahren, Datatilsynet, Gwladys, Tomasz Janowski Organizations: REUTERS, Big Tech, Facebook, Data Protection, Meta, European Data Protection, European, Thomson Locations: Norway, Norwegian, Europe

☆ Facebook owner Meta Platforms seeks to stop privacy breach fine in Norway
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman//File Photo Acquire Licensing RightsCompanies Meta Platforms Inc FollowOSLO, Aug 22 (Reuters) - Meta Platforms (META.O) will ask a court in Norway on Tuesday to stop a fine the country's data regulator has imposed on the owner of Facebook and Instagram for breaching users' privacy, in a case that could have wider European implications. Since Aug. 14, Meta Platforms has been fined 1 million crowns ($94,313) per day for harvesting users' data and using it to target advertising at them, called behavioural advertising, a business model common to Big Tech. Meta Platforms is asking for a temporary injunction against the order, which imposes a daily fine through to Nov. 3. Datatilsynet could make the fine permanent by referring its decision to the European Data Protection Board, which has the power to do so, if it agrees with the Norwegian regulator's decision.

Persons: Yves Herman, Meta, Tobias Judin, Datatilsynet, Gwladys Fouche, Sharon Singleton Organizations: REUTERS, Facebook, Big Tech, European Union, European Economic, EEA, Reuters . Regulator, Meta, Reuters, European Data Protection, Thomson Locations: Brussels, Belgium, Norway, Norwegian, Europe, Oslo

☆ Zoom forecasts current-quarter profit above estimates on strong enterprise demand
▼ + stars: | 2023-08-21 | by ( Jaspreet Singh | ) www.reuters.com time to read: +2 min

The Zoom Video Communications logo is pictured at the NASDAQ MarketSite in New York, New York, U.S., April 18, 2019. Zoom expects third-quarter revenue between $1.115 billion and $1.120 billion for the quarter, compared with analysts' average estimate of $1.13 billion, according to Refinitiv data. Excluding items, the company posted second-quarter profit of $1.34 per share, compared with target estimate of $1.05. Second-quarter enterprise revenue of the company rose 10.2% to $659.5 million. Zoom raised its annual revenue forecast to between $4.49 billion and $4.50 billion, compared with its earlier forecast of between $4.47 billion and $4.49 billion.

Persons: Carlo Allegri, Needham, Ryan Koontz, Webex, Koontz, Kelly Steckelberg, Zoom, Jaspreet Singh, Krishna Chandra Organizations: NASDAQ, REUTERS, Communications, Wall, Revenue, Thomson Locations: New York , New York, U.S, San Jose , California, Bengaluru

Companies Meta Platforms Inc FollowOTTAWA, Aug 18 (Reuters) - The Canadian government on Friday demanded that Meta (META.O) lift a "reckless" ban on domestic news from its platforms to allow people to share information about wildfires in the west of the country. Meta started blocking news on its Facebook and Instagram platforms for all users in Canada this month in response to a new law requiring internet giants to pay for news articles. Transport Minister Pablo Rodriguez earlier said the ban meant people did not have access to crucial information. Canadians can use Facebook and Instagram to access content from official government agencies, emergency services and non-governmental organizations, the spokesperson added. Meta says users do not come to its platform for news and forcing the company to pay for content shared on its platforms is unsustainable for its business.

Persons: Meta, Pascale St, Onge, Pablo Rodriguez, Chris Bittle, Ollie Williams, David Ljunggren, Josie Kao Organizations: OTTAWA, Canadian, Meta, Facebook, Transport, Liberal Party, Canadian Broadcasting Corp, Thomson Locations: Canada, Yellowknife

☆ Wall St slides as megacap growth stocks drag on rate jitters
▼ + stars: | 2023-08-18 | by ( Amruta Khandekar | ) www.reuters.com time to read: +4 min

The yield on the 10-year Treasury note hit a ten-month high of 4.328% in the previous session and came within a whisker of its highest level since 2007. The communication services (.SPLRCL) and technology (.SPLRCT) sectors housing major growth stocks fell 1.6% and 1.0% respectively. With no major economic data due on Friday, focus will now shift to Federal Reserve Chair Jerome Powell's speech at the Jackson Hole economic symposium next week as well as earnings from chip designer Nvidia (NVDA.O). Declining issues outnumbered advancers for a 1.08-to-1 ratio on the NYSE and for a 1.00-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week highs and 17 new lows, while the Nasdaq recorded 10 new highs and 146 new lows.

Persons: Jason Reed, Estee Lauder, Hogan, EL.N, Jerome Powell's, advancers, Amruta Khandekar, Maju Samuel Organizations: U.S . Federal, REUTERS, Dow, Nasdaq, Riley, Apple, Microsoft, Nvidia, Alibaba, Federal, Dow Jones, Inc, NYSE, Thomson Locations: Washington, U.S, Maui

☆ Biden administration tells US Supreme Court to review social media laws
▼ + stars: | 2023-08-14 | by ( Andrew Chung | ) www.reuters.com time to read: +2 min

The U.S. Supreme Court building is seen prior to the start of the court's 2022-2023 term in Washington, U.S. September 30, 2022. REUTERS/Kevin Lamarque/File PhotoAug 14 (Reuters) - President Joe Biden's administration urged the U.S. Supreme Court to take up a dispute over Republican-backed laws in Texas and Florida that would undercut efforts by social media companies to curb content deemed objectionable on their platforms. Florida is seeking to revive its law after a lower court ruled largely against it, while the industry groups are appealing a separate lower court decision upholding the Texas law, which the Supreme Court blocked at an earlier stage of the case. The companies have said that without editorial discretion their websites would be overrun with spam, bullying, extremism and hate speech. Texas' law forbids censoring users based on "viewpoint."

Persons: Kevin Lamarque, Joe Biden's, Andrew Chung, Sonali Paul Organizations: U.S, Supreme, REUTERS, Republican, Meta, Inc, Twitter, Justice Department, Thomson Locations: Washington , U.S, Texas, Florida, New York

☆ Big tech losses sink Nasdaq, S&P as US Treasury yields rise
▼ + stars: | 2023-08-11 | by ( David French | ) www.reuters.com time to read: +5 min

It was the first time in 2023 that the Nasdaq fell for two straight weeks. The S&P 500 ended the week down 0.3%, with the Nasdaq 1.9% lower. Yield on the two-year U.S. Treasury note , that moves in line with near-term interest rate expectations, climbed to 4.88%. REUTERS/Brendan McDermid//File PhotoMegacap growth and technology stocks have led outsized gains this year in the tech-heavy Nasdaq (.IXIC) and the S&P 500 (.SPX). The S&P 500 posted 4 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 52 new highs and 169 new lows.

Persons: Refinitiv, We've, Jason Betz, Brendan McDermid, Ameriprise's Betz, Rupert Murdoch, Bansari Mayur Kamdar, Johann M, David French, Shashwat Chauhan, Vinay Dwivedi, David Gregorio Our Organizations: Treasury, Nasdaq, Dow Jones, Federal Reserve, Ameriprise, Inc, Microsoft, Nvidia, Traders, New York Stock Exchange, REUTERS, International Energy Agency . Occidental Petroleum Corp, U.S, News Corp, Thomson Locations: U.S, New York City, JD.com, Bengaluru, New York

☆ Educational TikTok teaches history you might not learn in school
▼ + stars: | 2023-08-08 | by ( Harmeet Kaur | ) edition.cnn.com time to read: +9 min

Scholars and educators are increasingly using TikTok to share history that’s seldom found in textbooks — and their content is finding an audience. TikTok can fill in educational gapsKahlil Greene, known as Gen Z Historian on TikTok, is one of several educators on the platform who have built up a following around sharing little-known history. While some lawmakers and officials try to limit such instruction, that knowledge can be vital for students, said Ernest Crim III, a former high school history teacher who now makes educational content for TikTok. In fact, his educational content has resonated so widely that he left classroom teaching to make social media content full-time. TikTok educational content can empower communitiesEducational content on TikTok can also provide avenues for exploring one’s identity.

Persons: weren’t, Kahlil Greene, Greene, Martin Luther King Jr, “, ” Greene, Ernest Crim III, Crim, Ernest Crim III “, ”, TikTok, Carter G, Woodson, Henry Box Brown, Bill Darden, Viola Liuzzo, Selma, Moses Fleetwood Walker, Jackie Robinson, —, Ava DuVernay, ” Crim, Aslan Pahari, he’s, Pahari, — Pahari’s, “ I’m, they’re, “ They’re Organizations: CNN, Yale University, New York Times, University of California, Los Angeles School of Law, Facebook, Major League Baseball, MLB, Australian National University Locations: TikTok, —, White, California, Texas, Chicago, Black, Montgomery, Hughley, Sydney, South Asia, Central Asia, India, Afghanistan, Australia, Khyber Pakhtunkhwa, Punjab, Pakistan, West

☆ Match Group shares can rally 30% thanks to a recovery in Tinder, says BTIG
▼ + stars: | 2023-08-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Match Group shares are set to pop as Tinder recovers, according to BTIG. "Tinder hit a wall last year," with growth slowing into 2023, analyst Jake Fuller said. "MTCH pointed to execution issues and lack of product innovation, which led to a revamping of the Tinder team. Management's current-quarter guidance also came above analyst estimates. The analyst noted that Tinder is showing an improving trend in its daily new users numbers and reactivation trend.

Persons: Tinder, Jake Fuller, Fuller, Management's, — CNBC's Michael Bloom

☆ Meta starts process to end news access in Canada over law on paying publishers
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

Morning commute traffic streams past the Meta sign outside the headquarters of Facebook parent company Meta Platforms Inc in Mountain View, California, U.S. November 9, 2022. REUTERS/Peter DaSilva/File PhotoAug 1 (Reuters) - Meta Platforms (META.O) has begun the process to end access to news on Facebook and Instagram for all users in Canada, it said on Tuesday, in response to a legislation requiring internet giants to pay news publishers. The Online News Act, passed by the Canadian parliament, would force platforms like Google parent Alphabet (GOOGL.O) and Meta to negotiate commercial deals with Canadian news publishers for their content. Canada's legislation is similar to a ground-breaking law that Australia passed in 2021 and had triggered threats from Google and Facebook to curtail their services. But on the Canadian law, Google has argued that it is broader than those enacted in Australia and Europe as it puts a price on news story links displayed in search results and can apply to outlets that do not produce news.

Persons: Peter DaSilva, Rachel Curran, Meta's, Pascale St, Meta, Justin Trudeau, Chavi Mehta, David Ljunggren, Ismail Shakil, Arun Koyyur Organizations: Facebook, Meta, REUTERS, Canadian Heritage, Google, Canadian, Thomson Locations: Mountain View , California, U.S, Canada, Australia, Europe, Bengaluru, Montreal, Ontario

☆ Elizabeth Warren and Lindsey Graham want a new agency to regulate tech
▼ + stars: | 2023-07-27 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

Washington CNN —Two US senators are calling for the creation of a new federal agency to regulate tech companies such as Amazon, Google and Meta, in the latest push by members of Congress to clamp down on Big Tech. The bill targets tech platforms including Amazon, Apple, Google, Meta, Microsoft, TikTok and Twitter, which now officially known as X, a Senate aide told CNN, though the companies aren’t directly named in the legislation. “For too long, giant tech companies have exploited consumers’ data, invaded Americans’ privacy, threatened our national security, and stomped out competition in our economy,” Warren said in a statement. Thursday’s proposal differs from Bennet’s bill, the aide said, in that it is in some ways more specific in its restrictions on the tech industry. It’s time to rein in Big Tech,” Graham and Warren wrote in an op-ed in the New York Times Thursday.

Persons: Sen, Elizabeth Warren, Lindsey Graham, ” Warren, Warren, Michael Bennet, ” Graham Organizations: Washington CNN, Google, Big Tech, Massachusetts Democrat, South Carolina Republican, Apple, Meta, Microsoft, Twitter, CNN, Digital Consumer Protection, Colorado Democrat, Big, New York Times, Federal Communications Commission, Nuclear Regulatory Commission, Federal Trade Commission, Department of Justice, FTC, DOJ Locations: Massachusetts, Big Tech, Colorado, United States

☆ Two Big Tech names and a luxury retailer made headlines. Here's our take on each
▼ + stars: | 2023-07-27 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

Club holdings Meta Platforms (META), Microsoft (MSFT) and Estee Lauder (EL) all made headlines Thursday surrounding solid quarterly earnings, regulatory challenges and analyst downgrades. The Club remains highly bullish on these two Big Tech names, while continuing to muddle through with our embattled China-exposed cosmetics-retail play. Here's the latest developments at Meta, Microsoft and Estee Lauder — along with our take on the news. META YTD mountain Meta Platforms Inc. (META) year-to-date performance. Shares of Estee Lauder closed down 2.6% Thursday, at roughly $173 apiece.

Persons: Estee Lauder, downgrades, Estee Lauder —, Mark Zuckerberg, It's, Jeff Marks, Lauder, Jefferies, it's, Jim Cramer's, Jim Cramer, Jim, Rafael Henrique Organizations: Meta, Microsoft, Big Tech, Inc, Union, EU, Wall, CNBC, Getty Locations: China, Asia

Microsoft is set to shed about $100 billion from its market capitalization if the loses hold until close of trading. "The tech earnings season has started on a mixed note," said Mark Haefele, global wealth management chief investment officer at UBS in a client note. "The tone set by quarterly results over the next week will be crucial to the performance of tech stocks through the rest of the third quarter." Large tech companies, which rely heavily on borrowed money, have been pressured since the Fed started its tightening cycle to tame inflation. However, optimism over AI and hopes that the Fed is nearing the end of its rate hiking cycle have supported tech stocks in recent months.

Persons: Lucy Nicholson, Paul Nolte, Murphy, Sylvest, Mark Haefele, Wall, Stuart Cole, Bernstein, Mark Shmulik, Meta, enviously, Shmulik, Shreyashi Sanyal, Amruta, Lucy Raitano, Johann M Cherian, Amanda Cooper, Saumyadeb Organizations: Los Angeles , California U.S, REUTERS, Microsoft, Google, UBS, Apple Inc, Amazon.com Inc, Fed, Equiti, Federal Trade Commission, Amazon, Inc, Facebook, Thomson Locations: Los Angeles , California, U.S, HK, Bengaluru, London

☆ Meta to report second-quarter earnings after the bell
▼ + stars: | 2023-07-26 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

Meta will report second-quarter earnings after market close on Wednesday. Here are the key numbers to watch:Earnings: $2.91 per share expected, according to Refinitiv$2.91 per share expected, according to Refinitiv Revenue: $31.12 billion expected, according to Refinitiv$31.12 billion expected, according to Refinitiv Daily Active Users (DAUs): 2.04 billion expected, according to StreetAccount. 2.04 billion expected, according to StreetAccount. Monthly Active Users (MAUs): 3 billion expected, according to StreetAccount. 3 billion expected, according to StreetAccount.

Persons: Mark Zuckerberg, Meta, Mark, Meta's, William Blair, Brad Erickson Organizations: Meta, Inc, Refinitiv Revenue, RBC Capital Markets, CNBC, Company Locations: San Jose , California, Ukraine

☆ Brands get more reach on Instagram but more engagement on TikTok, a new study of thousands of social profiles finds
▼ + stars: | 2023-07-24 | by ( Marta Biino | ) www.businessinsider.com time to read: +5 min

Emplifi analyzes thousands of brand social-media channels each quarter on platforms including Instagram, Facebook, TikTok, and Twitter. The company has collected samples that ranged from thousands to hundreds of thousands of brand profiles on these platforms year-over-year between 2022 and 2023, as well as during Q2 2023. But aside from follower counts, Instagram reels outperformed TikTok content in reach, interactions, and video views during the period. On Instagram, brands received an average of 56 impressions in Q2 2023, compared to nine on Facebook and four on Twitter. In Q2 2023, reels shared by brands earned an average of 75 interactions, while carousels earned 74.

Persons: Instagram, TikTok, Kyle Wong, Emplifi, Wong, —, carousels, Brands Organizations: Facebook, Twitter Locations: Emplifi

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