Latest news with #MarkZuckerburg
Yahoo
14-04-2025
- Business
- Yahoo
FTC antitrust suit against Meta gets underway in Washington court
April 14 (UPI) -- The U.S. government's antitrust suit alleging Meta's takeover of Instagram and WhatsApp was illegal was due to get underway Monday in Washington, following a six-year Federal Trade Commission investigation. The case could see the Silicon Valley social media giant forced to spin off the two key pillars that help the company pull in $164.5 billion in annual advertising revenue -- in what would be the biggest breakup in corporate America since AT&T was forced to relinquish its telecoms monopoly in 1982, leading to an explosion in competition in the market. The trial at the capital's U.S. District Court is expected to see government lawyers cross-examine Meta CEO Mark Zuckerburg, former Chief Operating Officer Sheryl Sandberg and Instagram head Adam Mosseri with leaders from other social media platforms also taking the stand. Counsel for both parties will deliver their opening statements in the capital's U.S. District Court ahead of an anticipated seven to eight-week trial in which the FTC will argue that the then-Facebook acquired the two platforms for the specific purpose of "neutralizing" rivals in the social media sphere and preserving an alleged monopoly. The 2012 and 2014 acquisitions were driven by a "buy or bury" game plan that saw Meta either absorb or drive into the ground competing companies that posed an actual or perceived threat and that breaking up Meta would do the same for social media as the breaking up AT&T did for the phone market. Meta will argue the diversity and vibrancy of the market in 2025 prove otherwise, saying it faces plenty of strong competition from an extensive list of rivals. The company also denies claims it misled FTC regulators in order to get them to approve the takeovers, alleging it is being targeted for being successful. Meta spokesperson Christopher Sgro said company would prove in court what every 17-year-old in the world knew, "that Instagram, Facebook and WhatsApp compete with Chinese-owned TikTok, YouTube, X, iMessage and many others." "More than 10 years after the FTC reviewed and cleared our acquisitions, the commission's action in this case sends the message that no deal is ever truly final," Sgro said. Zuckerburg, reportedly met with Trump in the past two weeks to try to convince him to settle the case without going to court. He has implemented a number of changes at Meta since Trump's election, including axing content moderation, donating $1 million towards Trump's inaugural fund and paying him $25 million to stop him suing over his ban from Facebook and Instagram after the Jan. 6 storming of the U.S. Capitol. The dynamics of the key players are fueling plenty of speculation from the federal judge, James Boasberg, who has clashed with President Donald Trump over his use of a 200-year-old law to deport alleged members of a Venezuelan gang but previously threw out an earlier FTC suit to break up Meta in 2021, to Trump's new FTC chief Andrew Ferguson. In clearing the FTC's case to proceed in 2022, Boasberg again threw cold water over the matter saying the commission "may well face a tall task down the road in proving its allegations," and as recently as November said there were credible doubts over whether its claims "could hold up in the crucible of trial" and that the FTC's "positions at times strain this country's creaking antitrust precedents to their limits." Ferguson, who was appointed to the commission by former President Joe Biden and promoted to chairman by Trump, is said to be eagerly anticipating the challenge but has said he will do as instructed by Trump. In a blog post Sunday, Meta Chief Legal Officer Jennifer Newstead, argued that far from stifling competition, Instagram and WhatsApp served as models for the real-life benefits that successful acquisitions could deliver for consumers, better more reliable, engaging places to learn, connect and create via services such as in-app messaging, live streaming, Stories and Reels. She said the FTC allegations that Meta held a dominant position in the social media market and that the two acquisitions harmed competition were both false, forcing it to "gerrymander a fictitious market in which Facebook and Instagram compete only with Snapchat and and an app called MeWe." "In reality, more time is spent on TikTok and YouTube than on either Facebook or Instagram -- if you only add TikTok and YouTube into the FTC's social media market definition, Meta has less than 30% market share," said Newstead.
Yahoo
13-02-2025
- Business
- Yahoo
Disney is pulling back on trigger warnings for old movies
Disney (DIS) is overhauling how it warns users on its streaming platform of older films that contain racial stereotypes. Starting in 2020, Disney+ would autoplay disclaimers before movies such as Dumbo, Peter Pan, The Aristocats, warning of 'negative depictions and/or mistreatment of people or cultures' and that 'these stereotypes were wrong then and are wrong now.' Disney has now decided to do away with these warnings. Instead, the company will now include a text disclaimer in the details section of the films that says these movies 'may contain stereotypes or negative depictions,' according to a note sent to employees on Wednesday, Axios reported. Disney did not immediately respond to a request for comment from Quartz. The move is part of a broader effort at the House of Mouse to change its diversity, equity, and inclusion (DEI) efforts, amid the Trump Administration's targeting of DEI programs in the government. In addition to the adjusted content warnings, Disney is replacing its 'Diversity & Inclusion' performance factor when evaluating executive compensation. The new 'Talent Strategy' factor will instead absorb some criteria from the previous factor but focus more on values that drive business. Disney is not alone in unwinding its DEI efforts; several companies have announced changes to their diversity programs in the wake of the President Donald Trump's inauguration. Facebook-parent Meta (META), Google, and Walmart have all said they are scaling back their DEI programs. 'We're in the middle of a pretty rapidly changing policy and regulatory landscape that views any policy that might advantage any one group of people over another as something that is unlawful,' Meta CEO Mark Zuckerburg told employees in a meeting last month. 'Because of that, we and every other institution out there are going to need to adjust.' Conversely, some companies have said they will be sticking with their DEI programs including Costco and McDonalds. For the latest news, Facebook, Twitter and Instagram.
Yahoo
06-02-2025
- Business
- Yahoo
Watch These Meta Price Levels as Stock Hits Record Highs on AI Optimism
Meta shares moved higher Tuesday after setting a record close yesterday, as investors bid up the stock in the aftermath of a solid quarterly earnings report and optimism about the company's AI-related growth opportunities. The measuring principle projects a shorter-term bullish target at $755, while bars pattern analysis forecasts a longer-term upside target of around $935. Investors should monitor major support levels on Meta's chart around $632 and $ (META) shares moved higher Tuesday after setting a record close yesterday, as investors continue to bid up the stock in the aftermath of a solid quarterly earnings report and optimism about the potential for AI-fueled growth. Last week the Facebook and Instagram parent posted strong fourth quarter results, handily surpassing Wall Street's top- and bottom-line estimates. CEO Mark Zuckerburg lifted sentiment during the earnings call when he said that the early success of DeepSeek's AI model had strengthened the company's conviction in its own open-source AI large language model, Llama. Meta shares have gained 20% since the start of 2025, making the stock the top performer over that stretch among the Magnificent Seven group of large-cap tech companies. The stock was up 0.9% at around $704 in recent trading and on pace to close at another record high Tuesday. Below, we take a closer look at the technicals on Meta's chart and point out crucial price levels worth watching out for. Meta shares trended higher within a six-month rising wedge before breaking out above the pattern's upper trendline last month on above-average volume. Moreover, the breakout has coincided with the relative strength index (RSI) moving above the 70 threshold, confirming bullish price momentum, but also cautioning overbought conditions in the stock. Let's apply technical analysis to forecast two potential bullish targets and also identify major support levels where the shares may encounter buying interest during pullbacks. To project a short-term bullish target, investors can use the measuring principle, also known by chart watchers as a measured move. When applying the technique to Meta's chart, we calculate the distance between the rising wedge's two trendlines near their widest section and add that amount to the initial breakout point. For instance, we add $100 to $655, which forecasts a target of $755, a location where the shares could see profit-taking. Bars pattern analysis helps investors project a longer-term upside target by studying prior trends to predict how a future directional move may play out. To apply the tool, we take the stock's trending move from January to March last year and overlay it from last month's breakout point. This projects a target of around $935, a region on the chart sitting about 33% above current levels where investors may look to lock in profits. We selected this trending period as it immediately followed a breakout from an earlier rising wedge pattern on the chart, potentially setting a playbook for how a similar directional move may play out. The first lower level to watch during pullbacks sits around $632. This location on the chart may provide support near the rising wedge pattern's lower trendline and the early-December and early- January peaks. Finally, selling below this level could see Meta shares revisit lower support around the psychological $600 level. Investors may look for buying opportunities in this region near a horizontal line that links a range of comparable price points on the chart between October and last month. The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info. As of the date this article was written, the author does not own any of the above securities. Read the original article on Investopedia
