{
}
Asia-Pacific markets surged as investors reacted to Japan's October inflation data, with core CPI rising 2.3%, slightly above expectations. Japan's Nikkei 225 and Topix gained 0.54% and 0.51%, respectively, while Australia's S&P/ASX 200 increased by 0.71%. In the U.S., major indexes also rose, with the Dow Jones up 462 points, as crude oil prices climbed following geopolitical tensions.
Nvidia is set to report earnings amid expectations of a significant stock swing, with an options-implied move of about 8%, potentially impacting its market value by nearly $300 billion. Major customers like Microsoft, Alphabet, Amazon, and Meta have committed to increased capital spending, heightening the stakes for Nvidia"s fiscal third quarter results. Uncertainty surrounds the performance of its new Blackwell product line due to production delays, complicating revenue forecasts despite strong demand signals from CEO Jensen Huang.
Microsoft has introduced new tools aimed at simplifying the development and deployment of AI applications for cloud customers. The Azure AI Foundry allows users to easily switch between various large language models, including options from OpenAI, Mistral, and Meta Platforms Inc., while ensuring optimal application performance and return on investment.
Major Taiwanese banks, including Mega Financial Holding Co., are halting their advertising on Facebook due to increasing concerns over financial scams on the platform. Chairman Ray Dawn confirmed that his bank has already ceased its advertising efforts, which previously amounted to approximately NT$16 million ($490,000) annually.
The Competition Commission of India (CCI) has imposed a fine of Rs 213.14 crore on Meta for abusing its dominant position regarding WhatsApp"s 2021 privacy policy update. Additionally, CCI has ordered WhatsApp to refrain from sharing user data with other Meta products for advertising purposes for five years, alongside other remedial measures. This ruling significantly impacts Meta in its largest market, where WhatsApp has over 500 million monthly active users.
Several prominent Tiger-related hedge funds made significant moves in the third quarter, establishing new top positions. Discovery Capital Management aggressively invested in Vistra Corp., Constellation Energy, and the iShares Bitcoin Trust ETF, while unloading stakes in Western Digital and Chevron. D1 Capital Partners acquired shares in GE HealthCare and Bank of America, and Viking Global Investors increased its holdings in Visa and Spotify. Long Pine Capital added Salesforce and boosted its stakes in Meta Platforms and Amazon, while Light Street Capital Management invested in GitLab and increased its positions in Advanced Micro Devices and JFrog.
ValueAct has taken a $1 billion position in Meta Platforms, aiming to enhance profitability by trimming inefficiencies, particularly in the Reality Labs (RL) division, which currently detracts from earnings. With a projected EPS of $30 by 2026, the core Family of Apps (FoA) segment is expected to drive significant value, while AI investments could bolster growth. Despite Meta's controlled structure under Mark Zuckerberg, ValueAct's expertise in corporate governance positions it well to influence positive change.
Big Tech stocks are currently in a cautious stance following Donald Trump's election victory, as investors assess potential impacts of his second term. Concerns include possible tariffs that could inflate costs and disrupt supply chains, as well as anti-immigration policies affecting skilled labor. Additionally, Trump's known animosity towards Meta Platforms and Alphabet raises further apprehension among investors in those companies.
The European Commission has imposed a €797.72 million ($840.24 million) fine on Meta Platforms for breaching EU antitrust rules by unfairly linking Facebook Marketplace to its social network, thereby disadvantaging other classified ad services. Meta plans to appeal the decision but will comply and work on a solution to address the concerns raised. This action follows a two-year investigation into the company's practices.
The European Commission has fined Meta €797 million for antitrust violations related to Facebook Marketplace, accusing the company of unfairly tying its classified ads service to its social network. Meta plans to appeal the decision while asserting that users can choose whether to engage with Marketplace. The ruling follows a two-year investigation into Meta's practices, which the Commission claims could hinder competition in the EU market.
Meta Platforms, Inc.
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
asia pacific markets rise as japan inflation data shows mixed signals
United States Dollar
Japanese Yen
Meta Platforms, Inc.
Charter Communications, Inc.
USA
SGP
KOR
JPN
UKR
HKG
AUS
Samantha Subin
Akio Kon
Austan Dean Goolsbee
Jeff Cox
Show more
00:56 22.11.2024
Nvidia earnings report could trigger massive market value fluctuations
Alphabet Inc.
Meta Platforms, Inc.
Amazon.com, Inc.
Microsoft Corporation
USA
Jensen Huang
Show more
13:55 20.11.2024
microsoft launches tools to simplify ai application development and model switching
14:30 19.11.2024
Taiwanese banks halt Facebook ads amid rising scam concerns
07:03 19.11.2024
Meta fined for abusing dominance in WhatsApp privacy policy update
03:03 19.11.2024
tiger funds make significant new investments in key stocks last quarter
Visa Inc.
Vistra Corp.
Meta Platforms, Inc.
Constellation Energy Corporation
Bank of America Corporation
USA
O. Andreas Halvorsen
Robert Citrone
Stephen Mandel Jr.
Dan Sundheim
Glen Kacher
Show more
16:17 18.11.2024
valueact aims to enhance meta platforms profitability through strategic ai investments
Microsoft Corporation
OpenAI
Salesforce, Inc.
Adobe Inc.
Meta Platforms, Inc.
USA
Ken Squire
Mason Morfit
Show more
14:21 16.11.2024
big tech stocks cautious as investors assess trump's second term implications
11:35 15.11.2024
eu fines meta nearly 800 million euros for facebook marketplace practices
15:57 14.11.2024
eu fines meta nearly 800 million for antitrust violations involving facebook marketplace
14:50 14.11.2024
Trending
Subcategory
Stock Market Updates
Corporate News
Industry Trends
Global Trade Developments
Global Financial Events
Finance Mergers & Acquisitions
Banking Regulations
Retail and Consumer Goods
Startups & Entrepreneurship
Industry Mergers & Acquisitions
Market Analysis and Predictions
CEO Changes
Inflation and Monetary Impact
Government Policies
Government Economic Policies
Commodities
GDP Growth & Recession Forecasts
Central Bank Actions
Hedge Funds & Private Equity
Domestic Politics
Countries:
Companies:
Barclays PLC
JPMorgan Chase & Co.
Apple Inc.
Tesla, Inc.
Banco Santander, S.A.
Berkshire Hathaway Inc.
The Goldman Sachs Group, Inc.
Commerzbank AG
Amazon.com, Inc.
NVIDIA Corporation
Morgan Stanley
Lloyds Banking Group plc
Bank of America Corporation
Wells Fargo & Company
SpaceXCoin USD
Deutsche Bank Money Market PP
Citigroup Inc.
Microsoft Corporation
Royal Bank of Canada
UBS Group AG
Currencies:
United States Dollar
Euro
British Pound Sterling
Swiss Franc
Indian Rupee
Japanese Yen
Chinese Yuan
New Taiwan Dollar
Canadian Dollar
United Arab Emirates Dirham
South Korean Won
Vietnamese Đồng
Danish Krone
Indonesian Rupiah
Russian Ruble
Singapore Dollar
Chilean Peso
Egyptian Pound
Cambodian Riel
People: