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☆ Ad tech firm Trade Desk sinks as auto, Hollywood strikes hit forecast
▼ + stars: | 2023-11-10 | by ( Samrhitha A | ) www.reuters.com time to read: +2 min

Nov 10 (Reuters) - Shares of advertising tech firm Trade Desk (TTD.O) plunged 19% on Friday following a quarterly revenue forecast dented by a slowdown in spending from labor strike-hit automakers and media companies. Trade Desk has what it calls "a marketplace" of more than 200 companies, including ESPN, Hulu and Fox, where advertisers can choose to show their ads. The company also caters to brands such as Warner Bros Discovery (WBD.O), which warned this week the sluggishness in advertising trends could continue into the next year. Trade Desk expects fourth-quarter revenue of at least $580 million, which was $30 million lower than estimates, according to LSEG data. "We appreciate the near-term conservatism and think that Trade Desk sits in a unique position to deliver defensibility in a deteriorating macro but also growth in an improving one," RBC Capital Markets analysts said.

Persons: Piper Sandler, Jeff Green, Samrhitha, Sriraj Organizations: Google, ESPN, Hulu, Fox, Warner Bros Discovery, Trade, RBC Capital Markets, Thomson Locations: Alphabet's, Bengaluru

☆ Trade Desk shares plummet on dour Q4 revenue forecast
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

Nov 9 (Reuters) - Trade Desk (TTD.O) forecast fourth-quarter revenue below market expectations on Thursday, in a sign that an uncertain economy could weigh on demand for its digital advertising solutions, sending its shares down about 30% in extended trading. The downbeat forecast is in contrast with ad industry majors such as Meta Platforms (META.O) and Alphabet's (GOOGL.O) Google, which benefited from higher advertising spending. The ad tech firm expects fourth-quarter revenue of at least $580 million, compared with analysts' average estimate of $610.4 million, according to LSEG data. Its revenue for the quarter ended Sept. 30 stood at $493.3 million, compared with analysts' estimate of $487 million. Reporting by Zaheer Kachwala in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Zaheer Kachwala, Shilpi Majumdar Organizations: Google, ESPN, Hulu, Fox, Walmart, Thomson Locations: Bengaluru

☆ Giannis Antetokounmpo takes courtside seat after being ejected for a controversial technical foul in Bucks win
▼ + stars: | 2023-11-09 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +3 min

CNN —Milwaukee Bucks star Giannis Antetokounmpo was ejected from Wednesday’s 120-118 win over the Detroit Pistons for “two unsportsmanlike technical fouls,” before the ‘Greek Freak’ gave some fans quite the unique experience. He had received the initial technical foul in the first quarter for using profanity towards the referees. “And he was ejected from the game, per rule, because two unsportsmanlike technical fouls, you are ejected from the game.”The official National Basketball Association (NBA) rulebook says: “If a player blatantly taunts an opponent, a technical foul shall be assessed. The ejection also drew headlines given the NBA’s recent commitment to ensuring its star players are on the court as much as possible. Before his ejection, Antetokounmpo contributed 15 points, 10 rebounds, five assists and three blocks.

Persons: Giannis Antetokounmpo, ”, ’, Isaiah Stewart, Stewart, Antetokounmpo, GIANNIS, odney, ott Organizations: CNN, Milwaukee Bucks, Detroit Pistons, Pistons, ust Locations: Milwaukee

☆ Amazon Advertising's hiring freeze is over, and it is staffing up like crazy
▼ + stars: | 2023-11-09 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +3 min

Similar to its tech giant peers Meta and Google, Amazon pulled back on hiring last year, including roles for Amazon Ads — one of its fastest-growing and highest-margin business units. Amazon Ads' career page currently lists 423 open roles, up from 29 open roles in January, according to an archived version of that page. An Amazon spokesperson said that the company has continued targeted hiring as well as hiring for backfilled roles. Amazon Advertising has huge growth ambitionsMany of the open roles include positions to support newer products and initiatives within Amazon Advertising. It now has 34 roles open for software development roles like engineers working on measurement, ad tech, and data science.

Persons: Meta, Bose, that's Organizations: Amazon, Google, Carnival Cruises, Variety Locations: New York City

☆ Is Meta a buy after the brutal tech sell-off? Here's what the pros are saying
▼ + stars: | 2023-10-31 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

Both Meta Platforms and Alphabet saw their shares caught up in a broad tech sell-off last week — but several analysts remain bullish. On Meta, concerns emerged last week following CFO Susan Li's comments on the advertising market in the fourth quarter. META YTD mountain Year-to-date share price movement in Meta Year-to-date, shares in Meta are up over 150% higher. Morgan Stanley views Meta as one of the companies best positioned to weather the volatility in the tech sector. We would be buying the pullback in Meta shares" in an Oct. 26 note.

Persons: Susan Li's, Dan Ives, CNBC's, He's, it's, Meta, Ives, Meta they're, pricings, Mark, Zuckerberg, Morgan Stanley, —, Jonathan Vanian, Michael Bloom Organizations: Facebook, Meta, Wedbush Securities, Labs, JPMorgan, Baird Equity Research Locations: Meta

☆ Here are Tuesday's biggest analyst calls: Apple, Nvidia, Amazon, Tesla, DraftKings, Meta, Monster & more
▼ + stars: | 2023-10-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are the biggest calls on Wall Street on Tuesday: Bank of America reiterates Apple as neutral Bank of America said China remains a risk for Apple . UBS downgrades Regions to neutral from buy UBS said the Birmingham, Alabama-based regional bank is going into the "penalty box." DA Davidson upgrades Braze to buy from neutral DA said shares of the cloud-based software company will benefit from "resilient growth." Piper Sandler downgrades Monster to neutral from overweight Piper said in its downgrade of Monster that it had previously been just "wrong." Seaport initiates Amazon, Meta and Alphabet as buy Seaport initiated Amazon , Meta and Alphabet on Tuesday, saying it sees further upside for all three.

Persons: Bernstein, Tesla, underperform Bernstein, Goldman Sachs, Goldman, it's bullish, Ingersoll Rand, Stifel, Davidson, Needham, Moffett, Piper Sandler, Piper, MNST, Redburn, Morgan Stanley, Wells, it's, Baird, KeyBanc, –, Tommy Hilfiger, Larsson, Calvin Klein Organizations: Bank of America, Apple, of America, Nvidia, Reuters, AMD, Microsoft, UBS, Regions, Lattice Semiconductor, PSA, Fitness, Retail Media, Barclays, Rio Tinto, FMC Corp, FMC, JPMorgan, PVH, Energy Locations: China, wearables, Birmingham , Alabama, Rio

☆ Biden aims to boost investment in clean energy, biotech, semiconductors with tech hubs
▼ + stars: | 2023-10-23 | by ( Emma Kinery | ) www.cnbc.com time to read: +2 min

The creation of the tech hubs was authorized through the CHIPS and Science Act, which Biden signed into law last year. Raimondo in May announced the launch of the tech hub program with the aim of dispersing $500 million in grants. Tech hubs are going to bring this work to where people live in communities all across America." The hubs are focused on fostering innovation across industries including clean energy, artificial intelligence, semiconductors, biotechnology, medicine, quantum computing and critical minerals. "These tech hubs will be transformational and they're a part of a long line of transformational investment we've made since I took office," Biden said.

Persons: Joe Biden, Eisenhower, WASHINGTON —, Biden, Gina Raimondo, Raimondo, May Organizations: WASHINGTON, Monday, White, Commerce, Tech Locations: Puerto Rico, America, San Francisco , New York, Boston, Austin, U.S, Oklahoma , Massachusetts, Colorado , Ohio, South Carolina, Washington , Alabama, Pennsylvania

☆ Most of the world's biggest advertisers have stopped buying ads on Elon Musk's X, exclusive new data shows
▼ + stars: | 2023-10-23 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

An overwhelming majority of the world's biggest-spending advertisers have stopped advertising on X following Elon Musk's acquisition of the company, according to new data provided exclusively to Insider by the marketing consultancy Ebiquity. The number of Ebiquity clients advertising on X has steadily declined ever since, the data shows. The company drew its X data from its digital media solutions unit, through which it gathers digital media investment data from agencies and platforms. In the same interview she cited Visa, Nissan, and AT&T as among the "1,500" brands that had resumed spending on X. "We would welcome an official follow-up with supporting data in a time where trust and transparency are of critical importance," said Schreurs.

Persons: Ruben Schreurs, Ebiquity Ebiquity, Linda Yaccarino, Ebiquity's Schreurs, Schreurs Organizations: Elon, Twitter, Google, Walmart, Vodafone, General Motors, Ebiquity, Nissan, Amazon, Unilever, Coca, IBM, Bloomberg, Media, Visa

☆ The top 10 things to watch in the stock market Wednesday
▼ + stars: | 2023-10-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

U.S. stock are under pressure in premarket trading Wednesday, with S & P 500 futures down 0.47%. Revenues at its wealth management division rise 4.6% but fall short of analysts' forecasts, sending shares tumbling by 2.6% in premarket trading. Morgan Stanley reduces its price target to $600 a share, down from $630, while Citi lowers to $575 a share, from $630. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Morgan Stanley, Jefferies, Goldman Sachs, Wells Fargo, Sherwin, Williams, Jim Cramer's, Jim Cramer, Jim Organizations: Treasury, West Texas, Club, Procter, Gamble, Abbott Laboratories, Citi, Nvidia, Visa, Mastercard, Journal, Coterra Energy, Occidental Petroleum, Antero Resources, Starbucks, JPMorgan, Meta, Bank of America, Dow Inc, Huntsman Corp, LyondellBasell Industries, Albemarle, Westlake Corporation, Jim Cramer's Charitable, CNBC Locations: China

☆ Here are Wednesday's biggest analyst calls: Nvidia, Microsoft, Apple, Amazon, Arm, Meta, Ulta & more
▼ + stars: | 2023-10-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

KeyBanc initiates Arm Holdings as overweight Key said it sees "meaningful market share gains" for Arm. " Bank of America reiterates Microsoft as buy Bank of America said Microsoft remains a top pick heading into earnings next week. Deutsche Bank reiterates Ulta as buy Deutsche said despite softening beauty sales, Ulta remains "compelling." "After tripling its market share in China in the last decade, NetEase is emerging as a global video games content powerhouse by forming synergistic partnerships with gaming industry veterans globally that will likely drive a similar runway for its global market share." "As we had anticipated (although we thought it would come in January), ASML reset expectations for CY24 to flat revenue growth vs prior guide of 'growth.'"

Persons: Wedbush, Key, IoT, Raymond James, Brinker, FWRG, Jefferies, Ulta, Morgan Stanley, NetEase, Redburn, Guggenheim, Doug McMillon, Bank of America downgrades Sherwin, Williams, Sherwin, Ecolab, McDonald's Organizations: UBS, Apple, Citi, Nvidia, NVIDIA, Holdings, ARM, JPMorgan, Bank of America, Microsoft, Jefferies, Deutsche Bank, Deutsche, Avis Deutsche, Walmart, of America Locations: China, Europe, Japan, Dutch, ESTC, Brazil, underperform

☆ Sports programming still dominates TV, and Netflix is leaning more into it
▼ + stars: | 2023-10-18 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

Whether it's streaming or traditional TV, sports keep audiences coming back to their screens — and Netflix is working on getting more into the game. Netflix announced it would broadcast "The Netflix Cup" live, a matchup between athletes that appeared in the Formula 1 docuseries and the golf series "Full Swing." Even though customers are fleeing traditional TV, from the cable-TV bundle to broadcast, those that stick around often do so for the live sports. That showed in September, when the return of the National Football League and college football seasons propelled both broadcast and cable-TV viewership. It has been a gradual move toward both sports and live streaming — Netflix had technical issues when it aired the finale of reality show "Love is Blind" earlier this year — but one the streamer appears ready to make.

Persons: Max, NBCUniversal's Peacock Organizations: Netflix, Sports, Heineken Silver Las Vegas, National Football League, Nielsen, ESPN, Warner Bros, Disney, NFL, NBC, CNBC Locations: Las Vegas

☆ Amazon has room to go higher even after this year's 58% rally, Stifel says
▼ + stars: | 2023-10-17 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Amazon 's sheer scale and potential for margin improvements should give it a leg up, according to Stifel. Shares of Amazon have rallied nearly 58% this year. AMZN YTD mountain AMZN ytd chart Kelley pointed out that, since its inception, Amazon has overtaken other e-commerce platforms in terms of sheer scale. "We also note that Amazon offers broader ad tech tools and is now a Pinterest advertising partner, offering Amazon advertisers as an incremental demand source." Kelley's comments comes after Amazon held its Prime Big Deal Days event earlier this month.

Persons: Mark Kelley, Kelley, Kelley's, — CNBC's Michael Bloom Organizations: Amazon, Deal

☆ Insider Today: Big banks' cloudy forecast
▼ + stars: | 2023-10-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

AdvertisementAdvertisementIn today's big story, we're looking at why strong earnings results from some big banks weren't necessarily the big win markets were hoping for. The big storyTrouble brewingAdvertisementAdvertisementOn the surface, earnings season got off to a great start. And that could spell trouble for the broader market hoping for a banner earnings season to help it finish the year on a positive. AdvertisementAdvertisement"This may be the most dangerous time the world has seen in decades," he said in a press release announcing the bank's earnings. One market veteran predicts stocks will rally for the final stretch of the year due to a strong earnings season.

Persons: Elon Musk, Steve Jobs, Wells, Jamie Dimon, Dimon, Julian Restrepo, Emmalyse Brownstein, Mark Mason, JPMorgan's, Teresa Heitsenrether, Goldman Sachs, Jane Fraser, Fraser, Michael Siluk, there's, Walter Isaacson, Justin Sullivan, Tim Mosenfelder, Elon, Tyler Le, Noah Webster, He's, Naomi Osaka, Angela Lansbury, Sue Bird, Oscar Wilde, Bryce Harper, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Tech, JPMorgan, Citigroup, AP, Citi, Barclays, Suisse, New York Department of Labor, Getty, Wedbush Securities, Microsoft Outlook, Microsoft, Consumers, PETA, Dairy Summit Locations: Ukraine, Israel, Chicago, New York City, San Diego, London, New York

☆ We moved to Austin for the tech jobs, but finding a home was defeating. We kept getting outbid by people making cash offers sight-unseen.
▼ + stars: | 2023-10-15 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +7 min

AdvertisementAdvertisementThis as-told-to essay is based on a conversation with Sarah Hollingsworth, 35, about her experience moving from San Antonio to Austin in 2019. My six-month-old daughter, Amelia; my husband, Scott; and I moved to Austin in August 2019 from San Antonio — literally an hour and a half away. There really just aren't that many high-paying tech jobs in San Antonio and we both loved that industry and wanted to stay in it. Austin, being the next-closest tech city, had an abundant amount of high-paying tech jobs. I enrolled in the Entrepreneur Center of Austin, which San Antonio doesn't have.

Persons: Sarah Hollingsworth, —, Austin, Hollingsworth, Poppylist, Amelia, Scott, San Antonio —, Hollingsworth's, Zoey, Antonio doesn't, Techstars Austin, Sarah Hollingsworth San, it's Organizations: Service, Entrepreneur Center of Austin, Capital Factory Locations: Austin, San Antonio, Scott's, West Austin, Lake Austin, Sarah Hollingsworth San Antonio, There's

☆ Amazon's decision to shutter its ad server next year is a major win for Google
▼ + stars: | 2023-10-06 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

"Amazon had the power to do it, but they bottled it," said a former senior Amazon adtech staffer who worked on the ad server. Amazon's own marketing team had also shifted a lot of its ad serving requirements to Amazon Ad Server. Amazon said only a small proportion of its marketing is run through the Amazon Ad Server. Amazon's $20 billion-plus annual advertising budget also includes TV, outdoor, and other media channels that don't require ad serving technology. "Ultimately it was probably the right strategic move to depreciate," the Amazon Ad Server, said Caprio.

Persons: Google's, Mediaocean's, Michael Horst, Arnaud Creput, Mike Caprio, aren't, Caprio Organizations: Amazon, Google, YouTube, Amazon Prime, Amazon Advertising, Sizmek, Market Authority Locations: Americas

In our view, the companies in the regulators' sights — Alphabet 's (GOOGL) Google, Amazon (AMZN) and Microsoft (MSFT) — are not engaged in anti-competitive behavior. In January, the DOJ filed a second, separate antitrust lawsuit against Alphabet in the U.S. District Court for the Eastern District of Virginia. MSFT YTD mountain Microsoft YTD U.K. regulators have also hounded the Big Tech name, aiming to block Microsoft's acquisition of Activision over cloud gaming concerns. In a showdown years in the making, the FTC last month filed a highly-anticipated antitrust lawsuit against e-commerce giant Amazon. The logos of Google, Apple, Facebook, Amazon and Microsoft displayed on a mobile phone and a laptop screen.

Persons: Satya Nadella, —, Nadella, Bing, Jim Cramer, Activision Blizzard, ChatGPT, Morgan Stanley, Joe Biden, Lina Khan, Khan, Jim, Jim Cramer's, Justin Tallis Organizations: Big Tech, Google, Microsoft, Washington D.C, Justice, District of Columbia, DOJ, Eastern, of, Activision, Federal Trade Commission, FTC, Ubisoft, U.K, Markets Authority, Yale Law, Amazon, CNBC, Apple, Facebook, Getty Locations: Washington, U.S, of Virginia, Virginia, Amazon

Yelp (YELP.N) and News/Media Alliance, which are not defendants in the litigation but are targets of Google's subpoenas, argue that law firm Paul, Weiss, Rifkind, Wharton & Garrison should be disqualified. A spokesperson for Paul Weiss said the "firm's representation of Google is appropriate in all respects." Yelp said it hired Paul Weiss in 2016 for counsel on antitrust issues. The Justice Department's antitrust head, Jonathan Kanter, was on the Paul Weiss team representing Yelp. New York-based Paul Weiss, which has about 1,000 lawyers globally, is also representing Amazon.com in various antitrust lawsuits.

Persons: Gonzalo Fuentes, Paul, Weiss, Garrison, Leonie Brinkema, Paul Weiss, Yelp, Jonathan Kanter, Charles Molster III, Brandon Kressin, Brinkema, Kanter, Mike Scarcella, Leigh Jones, Rami Ayyub Organizations: Google, Viva Technology, Porte de, REUTERS, Media Alliance, Yelp, U.S, Google LLC, Eastern, of, Thomson Locations: Porte, Paris, France, U.S, Rifkind, Wharton, New York, States, of Virginia

☆ Boards Still Lack Cybersecurity Expertise
▼ + stars: | 2023-09-25 | by ( James Rundle | ) www.wsj.com time to read: +4 min

Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors. This includes people who sit on the boards of cyber companies or have an affiliation with a cybersecurity-related professional organization. Heath, a former security chief at United Airlines and tech provider DocuSign, sits on the boards of cyber companies Wiz and Gen Digital. Board work demands wide business experience that many security chiefs lack, said Myrna Soto, founder and chief executive of consulting firm Apogee Executive Advisors. Solving this problem will take effort from boards and cybersecurity professionals, said NightDragon’s DeWalt.

Persons: ”, Dave DeWalt, Emily Heath, Heath, “, Myrna Soto, Patrick T, Soto, NightDragon’s DeWalt, James Rundle Organizations: Delta Air Lines, United Airlines, Gen Digital, Wall Street, U.S . Securities, Exchange, Apogee, Fallon, Bloomberg, Directors, Spirit Airlines, Popular, TriNet Locations: U.S, NightDragon, cybersecurity, Heath

☆ Apple exec Eddy Cue is such a big sports fan that he has a grid of 9 TVs at home for watching games
▼ + stars: | 2023-09-23 | by ( Haley Tenore | ) www.businessinsider.com time to read: +3 min

Interestingly, Cue didn't mention Apple's upcoming Vision Pro headset in the interview. The Apple Vision Pro headset will be rolling out early next year, according to the company. AdvertisementAdvertisementWatching sports on the Vision Pro headset is like looking into the future. AppleIf you're interested in getting your own Vision Pro headset, Apple says they'll be available "early next year." Apple is also reportedly working on a cheaper version of the headset — the Apple Vision (sans Pro) — to make mixed-reality technology accessible to more people.

Persons: Eddy, he's, Cue's, Lionel Messi —, Messi, Rihanna, gesturing, Justin Sullivan, — Organizations: MLS, Service, Golden State Warriors, Apple, Major League Soccer, Apple TV's, Warriors, Twitter Locations: Wall, Silicon

A Google logo is seen at the Google offices in the Chelsea section of New York City, U.S., January 20, 2023. REUTERS/Shannon Stapleton//File Photo Acquire Licensing RightsCompanies Alphabet Inc FollowARLINGTON, Virginia Sept 15 (Reuters) - U.S. District Judge Leonie Brinkema on Friday declined to order a Justice Department official to stay out of the government's advertising antitrust lawsuit against Alphabet's (GOOGL.O) Google but said the department "should think about it." In November 2021, Google asked the Justice Department to consider requiring Jonathan Kanter, assistant attorney general in charge of antitrust, to recuse himself because of his work for a long list of Google critics. The Justice Department filed the advertising lawsuit in January in Arlington, Virginia, along with eight states, and nine other states joined in April. While Brinkema declined to order Kanter recused, she seemed skeptical during a court hearing that he should be involved and added that the Justice Department should "use some wisdom" in deciding what to do.

Persons: Shannon Stapleton, Leonie Brinkema, Jonathan Kanter, Brinkema, Kanter, David Shepardson, Diane Bartz, Timothy Gardner Organizations: REUTERS, Justice Department, Alphabet's, Google, D.C, Thomson Locations: Chelsea, New York City, U.S, ARLINGTON , Virginia, Arlington , Virginia, Washington, United States

☆ The Arm IPO is here, but many ETFs will not be buyers
▼ + stars: | 2023-09-14 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

The Cupertino, Calif.-based company licenses its processorIPO and tech enthusiasts are excited about the Arm Holdings Plc initial pubic offering, and with good reason: it's the first big tech IPO in more than two years. However, some investors who would like to get immediate exposure to the Arm IPO through ETFs may be disappointed. However, this particular IPO highlights several difficulties that even large companies like Arm have in acquiring a broader ownership base through ETFs. The first problem is that Arm is not a U.S. company, it's British — which generally would exclude it from the S&P indexes. Potential ETF buyers: Nasdaq-100 ETF, IPO ETFsThere are some potential ETF buyers.

Persons: Matt Bartolini, Howard Silverblatt, Van Eck, Jan Van Eck, Todd Sohn, it's, Matt Kennedy, Nate Geraci, I'm Organizations: ARM Holdings, Arm Holdings, Nasdaq, Tech, ARM, P, SPDR Technology, SPDR, SPDR Americas Research, Street Global Advisors, Global, Renaissance, Van Eck Semiconductor, CNBC, Vanguard Total U.S, Renaissance Capital Locations: Cupertino, Calif, U.S, SPDR Americas

☆ Google reaches $93 million settlement in tracking location case
▼ + stars: | 2023-09-14 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Google has reached a $93 million settlement with the state of California to resolve allegations that it was collecting consumers’ data without their consent, the state’s attorney general said in a statement Thursday. The state also said that Google factors in location in its “behavioral profile” of users. For example, the original complaint said that Google continued to collect and store location data even when users turned off the “location history” setting, just in different ways. As part of the settlement, Google would have to be more transparent about its location tracking and disclose to users that their location information could be used for targeted ads. The proposed order is subject to court approval, the state’s attorney general said.

Persons: Rob Bonta, we’ve, Bonta, Biden, John Schmidtlein Organizations: New, New York CNN, Google, California Department of Justice, DOJ Locations: New York, California, United States

☆ Google spends $10 billion a year to ensure it's your go-to online search engine, DOJ says
▼ + stars: | 2023-09-13 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

DOJ lawyers say Google is using deals with the likes of Apple to preserve its dominance over search. Google denied this, and said that Google search is simply better than the competition. The internet giant is being sued by the DOJ in the biggest tech antitrust trial in 20 years. The DOJ's lawsuit, which was filed under the Trump administration in 2020, said that Google used anticompetitive methods to prevent others from challenging the dominance of Google Search. The suit asks the court to break up Google by ordering the search giant to sell key parts of its Ad Manager suite.

Persons: Kenneth Dintzer, Department's, Trump Organizations: Apple, Google, DOJ, Service, Department of Justice, Samsung, Mozilla, New York Times, AP, Justice Locations: Wall, Silicon

☆ Tech drags US stocks lower as Oracle drops and Apple slides after iPhone event
▼ + stars: | 2023-09-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Oracle stock plunged more than 13% to lead tech names lower on Tuesday. Apple stock fell more than 2.3% as investors watched the iPhone 15 debut event in California. Meanwhile, US oil prices climbed to their highest mark since November 2022. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyAdvertisementAdvertisementUS stocks declined on Tuesday, with tech names leading the declines. Shares of Oracle declined more than 13% following a downbeat earnings report, while Apple also moved lower more than 2.3% on the same day as the company's iPhone 15 launch event.

Persons: Goldman Sachs Organizations: Oracle, Apple, Service, Apple Watch, Chevron, Exxon Mobil, Federal, Dow Jones, Nasdaq Locations: California, Wall, Silicon, Cupertino , California

☆ DOJ fights uphill battle; Google a losing one
▼ + stars: | 2023-09-12 | by ( Ben Winck | ) www.reuters.com time to read: +5 min

The government, in its opening statements, argued that the $1.7 trillion company’s search engine partnerships illegally protected its monopoly, harming consumers. The problem for the DOJ is that consumers readily dole out their data, and not just to Google. Device manufacturers and browser creators choose Google because it’s the highest quality option, and users can easily pick another default search engine, John Schmidtlein, Google’s lead lawyer, argued. The government’s lawyers have their work cut out for them, but a DOJ loss won’t mean a Google victory. The company’s partnerships may set Google as the default search engine on devices and browsers, but users can usually change their default option with a few clicks.

Persons: General Merrick Garland, Jonathan Kanter, Kenneth Dintzer, Dintzer, Amit Mehta, John Schmidtlein, Google’s, DOJ doesn’t, Google's, Lauren Silva Laughlin, Sharon Lam Organizations: U.S . Justice, Alphabet's Google, Justice Department, Reuters, U.S . Department of Justice, Alphabet’s, Google, DOJ, Microsoft, Court, Big Tech, Alphabet’s Google, Thomson Locations: WASHINGTON

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