SocialNewsBreaks Archive - Page 8 of 23

TuesdayJan 28, 2025 12:13 pm

SocialNewsBreaks – Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOG) Appeals Record EU Antitrust Fine Amid Regulatory Scrutiny

Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOG), through Google, is currently appealing a significant antitrust fine imposed by the European Union. The fine, amounting to €4.3 billion (approximately $4.5 billion), is the largest ever levied by the EU. The case, which began in 2018, accuses Google of using its market power to maintain dominance in the search engine sector. This involves requiring handset manufacturers to pre-install Google Search and Chrome to access the Play Store, offering financial incentives for pre-installation, and restricting the use of unapproved Android versions. EU lawyers argue that Google used a "carrot and stick strategy" to control…

MondayJan 27, 2025 11:38 am

SocialNewsBreaks – Snap Inc. (NYSE: SNAP) Under FTC Scrutiny Over AI-Powered Chatbot

Snap Inc. (NYSE: SNAP), the parent company of the widely-used social media platform Snapchat, is currently facing an investigation by the Federal Trade Commission (FTC). The probe centers around Snap's AI-powered chatbot, My AI, which is integrated within Snapchat and has raised concerns about potential risks to young users. This has led to a complaint being referred to the Department of Justice, marking a significant development in the ongoing scrutiny of AI technologies and their impact on user safety. Snap has responded to the FTC's allegations by highlighting what it perceives as inaccuracies in the complaint and a lack of…

FridayJan 24, 2025 12:04 pm

SocialNewsBreaks – Trump Media & Technology Group Corp.’s (NASDAQ: DJT) Market Activity Amid Political Changes

Trump Media & Technology Group Corp. (NASDAQ: DJT), known for its ownership of the Truth Social platform, is experiencing notable market activity. The company, which has been a focal point for investors due to its association with President Donald Trump, is navigating a volatile stock environment. Despite recent fluctuations, DJT remains a significant player in the media and technology sector. In the wake of President Trump's return to office, DJT shares have seen a 10% decline, trading around $36. This drop is part of a broader trend, with prices falling from January highs above $40 and pre-election peaks over $50.…

ThursdayJan 23, 2025 9:52 am

SocialNewsBreaks – Meta Platforms Inc. (NASDAQ: META) Receives Interim Relief from India’s NCLAT

Meta Platforms Inc. (NASDAQ: META) is a leading technology company known for its social media platforms, including WhatsApp. Recently, Meta received interim relief from India's National Company Law Appellate Tribunal (NCLAT), which has temporarily stayed a five-year ban imposed by the Competition Commission of India (CCI) on WhatsApp's data-sharing practices. This decision offers Meta a temporary reprieve in its ongoing legal challenges related to data privacy in India. The relief from NCLAT comes at a time when META's stock price is experiencing a slight increase. Currently priced at $625.07, the stock has seen a modest rise of 0.25%, or $1.57.…

WednesdayJan 22, 2025 11:37 am

SocialNewsBreaks – Sprout Social Inc. (NASDAQ: SPT) Recognized as a Top Workplace

Sprout Social Inc. (NASDAQ: SPT), a leading provider of cloud-based social media management software, has been named one of the best places to work in Chicago and Seattle for the sixth consecutive year by Built In’s 2025 Best Places to Work Awards. The recognition celebrates companies with outstanding workplace culture, employee benefits, and innovative practices. Sprout Social supports a global workforce with flexible remote, hybrid, and in-person work options across offices in Chicago, Seattle, and Dublin. This flexibility, combined with a strong commitment to diversity, equity, and inclusion (DEI), has enabled the company to attract and retain top talent. Chief…

TuesdayJan 21, 2025 10:49 am

SocialNewsBreaks – Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOG) Fined by Indonesia’s Antitrust Agency

Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOG), through Google, a major player in the technology sector, operates the Google Play Store, a key platform for distributing software applications. Recently, Indonesia's antitrust agency fined Google approximately $12 million for unfair business practices related to its payment system services on the Play Store. This fine highlights ongoing regulatory scrutiny faced by tech giants globally. Despite this regulatory challenge, Alphabet's stock reached a high of $202.29 today. This indicates investor confidence in the company's ability to navigate legal hurdles and maintain its market position. The stock's performance suggests that investors may view the fine…

FridayJan 17, 2025 9:37 am

SocialNewsBreaks – Snap Inc. (NYSE: SNAP) Faces Regulatory Scrutiny

Snap Inc. (NYSE: SNAP) is a social media company known for its popular app, Snapchat, which allows users to send photos and videos that disappear after being viewed. The company faces competition from other social media giants like Facebook and Instagram. Recently, Snap shares fell by 5% after the Federal Trade Commission (FTC) referred a complaint to the Department of Justice (DOJ). The complaint alleges that Snapchat's My AI chatbot poses "risks and harms to young users," as stated by the FTC. This news has impacted Snap's stock performance, which is currently trading at $11.22. The stock has seen a…

ThursdayJan 16, 2025 10:13 am

SocialNewsBreaks – Trump Media & Technology Group Corp. (NASDAQ: DJT) Stock Volatility Ahead of Inauguration

Trump Media & Technology Group Corp. (NASDAQ: DJT) is the company behind the Truth Social social media network. As the inauguration of President-elect Donald Trump nears, DJT's stock is experiencing notable volatility. The stock initially saw a strong upward movement earlier this week, but has since started to decline. This fluctuation is closely tied to the political climate surrounding the upcoming inauguration. Currently, DJT's stock price on the NASDAQ is $41, marking a slight change of $0.17 or 0.4164% from the previous session. The stock has shown a range of movement today, with a low of $40.01 and a high…

WednesdayJan 15, 2025 9:28 am

SocialNewsBreaks – Meta Platforms Inc. (NASDAQ: META) Plans Workforce Reduction

Meta Platforms Inc. (NASDAQ: META) is a leading technology company known for its social media platforms, including Facebook, Instagram, and WhatsApp. The company is currently planning to reduce its workforce by about 5% through performance-based terminations. Despite these reductions, Meta plans to hire new employees to fill these roles within the year, as highlighted by Riley Griffin on "The Asia Trade." The current stock price of Meta is $594.25, showing a decrease of 2.31% or $14.08. This decline in stock price may reflect investor concerns about the workforce reduction and its potential impact on the company's operations. Today, the stock…

TuesdayJan 14, 2025 9:39 am

SocialNewsBreaks – Rumble Inc. (NASDAQ: RUM) Secures Cloud Services Agreement with El Salvador Despite Financial Challenges

Rumble Inc. (NASDAQ: RUM) is a video-sharing platform and cloud services provider that has recently secured a significant cloud services agreement with the Government of El Salvador. This partnership underscores Rumble's commitment to freedom-oriented values, which are increasingly sought after globally. The agreement involves Rumble providing El Salvador with a comprehensive suite of cloud services, including cloud storage, computing, databases, load balancers, and Kubernetes integration. This strategic move allows Rumble to expand its international market presence and diversify its service offerings. Despite this promising partnership, Rumble faces financial challenges. The company has a negative price-to-earnings (P/E) ratio of approximately -16.90,…

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