Facebook’s third-quarter earnings report told CNBC’s Jim Cramer that the social media giant has a chance at a comeback after months of recurring issues around data privacy. “The important thing here is that a turn is even possible ,” the “Mad Money” host said after shares of Facebook closed nearly 4 percent higher on Wednesday.
Month: October 2018
Stories is the most interesting and important product at Facebook — the feature, copied from Snapchat, has been a huge hit inside of Facebook’s apps, especially Instagram and WhatsApp. But can Facebook build a business around Stories? That was a big question that emerged yesterday during Facebook’s Q3 earnings call — an interesting and uncharacteristically
For most of the past year, Mark Zuckerberg has been trying to convince the world that Facebook was fast becoming a very different company—one that accepted its enormous role shaping public opinion worldwide and would spend what it took to exercise its power responsibly. Many still have trouble believing him, and it’s easy to understand
Royal Dutch Shell PLC: “Why buy Royal Dutch when you can buy BP? My charitable trust, which you can follow along by joining [the] ActionAlertsPlus.com club, has made this our biggest oil position and we keep buying it and it yields 5.8 percent and it reported one of the best quarters I’ve seen this whole
Last week, as thousands of Central American migrants made their way northward through Mexico, walking a treacherous route toward the US border, talk of “the caravan,” as it’s become known, took over Twitter. Conservatives, led by President Donald Trump, dominated the conversation, eager to turn the caravan into a voting issue before the midterms. As
Apple is hosting one of its trademark product keynote events this morning in Brooklyn, New York. Apple is also live streaming the event from its website. We’ll be updating this post live with the most important news from the show in roughly chronological order; refresh or click here for the latest. The Preamble: The theme
You know when you try to go online at a Starbucks or on an airplane, first you get a little popup that asks you to accept some terms before you can get to the internet? That popup window exists in a sort of netherworld between actual internet connection and being offline–you pick it up via
President Donald Trump’s tariffs on China and the Federal Reserve’s plans to hike interest rates in lockstep are both “toxic” for the stock market, and combined, they are souring the prospects for 2019, CNBC’s Jim Cramer warned Monday. “Higher rates and higher [tariffs] are setting us up for a very difficult end of the year
Earnings this week: Apple reports quarterly earnings on Thursday, after Tuesday’s product announcement event in Brooklyn, where it is expected unveil new iPads and Mac computers. Reporting on Tuesday: Facebook, eBay and Baidu; Wednesday: General Motors, Fitbit, Sprint; Thursday: Spotify, New York Times; Friday: Alibaba. [Want to get the Recode Daily in your inbox? Subscribe
IBM just spent $34 billion to buy a software company that gives away its primary product for free. IBM Sunday said it would acquire Red Hat, best known for its Red Hat Enterprise Linux operating system. Red Hat is an open source software company that gives away the source code for its core products. That
IBM is acquiring Red Hat, a major distributor of open-source software and technology, in a deal valued at $34 billion, the companies announced on Sunday. According to a joint statement, IBM will pay cash to buy all shares in Red Hat at $190 each. The open source, enterprise software maker will become a unit of
On the latest episode of Recode Decode, former Secretary of State Hillary Rodham Clinton spoke with Recode’s Kara Swisher in front of a sold-out crowd at the 92nd Street Y in New York City. Reflecting on the reasons for her loss in the 2016 presidential race, Clinton bashed Facebook’s executives and offered her support for
Gary Gottlieb is in a prime spot to see how technology companies are shaking up health care. A trained psychiatrist who previously ran Partners Healthcare in Boston, one of the largest hospitals in the country, Gottlieb has spent the past three years working in venture capital, tracking how emerging start-ups and big tech companies are
The brutal murder of journalist Jamal Khashoggi at Saudi Arabia’s Istanbul consulate this month, which Turkish officials say was carried out by Saudi agents, has sparked a reckoning in Silicon Valley. The kingdom has poured billions of dollars into the tech industry, and a number of prominent startups, including darlings like Uber, WeWork, and Slack,
Hillary Clinton took some fairly strong shots at Facebook and its chief executives on Friday, telling Recode that social giants like Facebook would “have to be held accountable” with regulation after the 2016 election. The former Democratic presidential candidate was disadvantaged by the influence campaign plotted by the Russians that played out on Facebook, and
On Friday, Cesar Sayoc was arrested in connection with the 14 pipe bombs sent to top Democrats, other critics of President Trump, and CNN earlier this week. The 56-year-old Sayoc appears to have been active on social media. A Twitter account prosecutors linked to him praised Trump, threatened top Democrats with death, and shared convoluted
The housing market may be slowing down, but Nobel Prize winner Robert Shiller told CNBC he isn’t fearful that a big downturn is ahead. During the financial crisis, the fluctuation of home prices was the sharpest anyone had ever seen — and the word “housing bubble” entered the vocabulary, the Yale economist said. Now, “you
Amazon’s business unit that primarily consists of advertising revenue registered another booming quarter this summer, growing to nearly $2.5 billion in sales during the three-month period, as Amazon announced yesterday in its third-quarter results. The ad division’s fat profit margin — analysts estimate it could be as large as 75 percent — is a big
Two members of Congress are seeking a formal investigation into claims that the bidding process for a contentious $10 billion Pentagon contract was rigged in favor of Amazon. The contract in question would give one company full reign over the Defense Department’s Joint Enterprise Defense Initiative, or JEDI Cloud—a program that the Pentagon has described
Chipotle Mexican Grill is set to report third-quarter earnings after the closing bell Thursday. Here is what analysts surveyed by Refinitiv expect: Earnings: $2.00 per share Revenue: $1.23 billion Same-store sales: up 5 percent Wall Street expects Chipotle to post earnings of $2.00 per share on $1.23 billion in revenue, according to Refinitiv. Investors will
You might be shocked to hear this, but the person in charge of Snapchat Discover and Snap’s other “non-friend content” isn’t impressed by Instagram’s copycat product, IGTV. “I don’t think they’re really trying to push forward the kind of quality bar of mobile video in the same way that we are,” Snap VP of content
Last week, Netflix users raised concerns that the company was targeting African American users by race in the way it promoted films—highlighting black characters who sometimes had only minor roles in a movie. The debate began after Stacia L. Brown, creator of the podcast Charm City, tweeted a screenshot of the promotion she was shown
Netflix was down as much as 8 percent on Wednesday, as tech stocks overall took a dive. Just last week, Netflix share prices surged as much as 15 percent on earnings. The company met revenue estimates and reported almost 7 million new subscribers. Netflix stock has now fallen below pre-earnings prices. The S&P 500 technology
To effectively regulate the tech sector, we first have to unlearn a lot of things we take for granted, says “Positive Populism” author Steve Hilton. “[There’s a] story we used to tell, a true story, about whether Facebook knocked out Myspace and Google knocked out Microsoft, and these tech companies don’t stay powerful for too
On Tuesday, Facebook released a new tool that shows who’s spending the most money on political ads on the platform in the US. At a glance, the Ad Archive Report suggests that Texas senate candidate Beto O’Rourke is the biggest spender, having plowed more than $5 million into Facebook ads since May. But the fine
Tesla CEO Elon Musk said Tuesday the company will eliminate some interior design options for the Model S sedan and Model X sport utility vehicle, in order to simplify production at Tesla’s assembly factory. Elon The Model X is its most complex vehicle in production today, in part because it has unusual falcon wing doors.
When he moved home to the San Francisco Bay Area for his final season in the NFL, Maurice Jones-Drew was thinking about playing football in front of his family — not turning himself into a big investor after he retired from the League. “My grandpa always used to always tell me, ‘Dude, you’re a football
Brendan Iribe, the former CEO and co-founder of Oculus, announced on Monday that he would be leaving Facebook, making him the latest founder of a notable start-up acquired by the company to depart. “I’d like to sincerely thank everyone that’s been a part of this amazing journey, especially Mark [Zuckerberg] for believing in this team
A few years after the Great Recession, you couldn’t scroll through Google Reader without seeing the word “disrupt.” TechCrunch named a conference after it, the New York Times named a column after it, investor Marc Andreessen warned that “software disruption” would eat the world; not long after, Peter Thiel, his fellow Facebook board member, called
On the latest episode of Recode Decode, hosted by Kara Swisher, “Will & Grace” actor Sean Hayes talked about how he became a producer after the show ended, why the cast reunited for multiple new seasons on NBC, and how the rise of digital platforms like Amazon and Netflix aren’t as different from traditional players