Meta Platforms Financial News

BRUSSELS (Reuters) — Facebook owner Meta Platforms (NASDAQ:META) and social media company Snap have been given a Dec. 1 deadline by the EU to give more information on how they protect children from illegal and harmful content, the European Commission said on Friday.

OpenAI's ChatGPT and Microsoft's cloud computing, to enable virtual assistant interactions, reported Reuters. The device, known as the Ai Pin, is intended to be worn on clothing. It allows users to tap and communicate with a virtual assistant, which is powered by technologies from OpenAI, the creator of ChatGPT, and utilizes cloud computing power from Microsoft.

Meta Platforms on Wednesday. In a blog post, Meta said that it would require advertisers to disclose if their altered or created ads portray real people as doing or saying something that they did not, or if they digitally produce a real-looking person that does not exist.

Amazon.com founder and former Chief Executive Jeff Bezos plans to relocate to Miami after almost three decades in Seattle, where the online retailer grew into one of the world’s largest companies. Thursday evening, Bezos posted on Instagram that his parents recently moved back to Miami, where he graduated from high school in 1982. He praised his time in Seattle but said it was an emotional decision.

The corporate earnings downturn is poised to end, but you wouldn’t know it looking at the stock market carnage. With the third-quarter earnings season nearly halfway over, companies in the S&P 500 are on track to post a 2.7% year-over-year increase in profits, according to a FactSet blend of reported results and consensus analyst estimates. That would mark the first earnings growth in four quarters.

Google and Snap have signaled that the rising adoption of artificial intelligence was drawing marketers to digital platforms even in an uncertain economy, boding well for Facebook-parent Meta Platforms. Alphabet and Snap surpassed third-quarter revenue expectations on Tuesday, with the tech giant seeing strong growth both at its core Search and YouTube units.

U.S. stocks tumbled on Friday to cap a losing week as investors worried about more interest rate hikes and the Israel-Hamas conflict spreading.

US Senate panel's Republican lawmakers sent a letter on Friday to tech companies Meta Platforms, Google, TikTok and X, formerly called Twitter, seeking information on their content moderation policies in the Israel-Hamas war, the senators said. The Republican lawmakers of the U.S. Senate Commerce Committee said they asked the companies «to commit to fully preserving a documentary history of Hamas's atrocities.»

Meta Platforms, the parent of Facebook and Instagram, is racing to incorporate generative AI into its family of apps and the metaverse after ChatGPT took the world by storm last November. Playing a central role in this effort is Meta’s chief product officer, Chris Cox. Wall Street Journal senior personal-technology columnist Joanna Stern spoke with Cox at the Journal’s annual Tech Live conference.

For the first time in a year, the big companies in the S&P 500 may be seeing their profits grow again

Made By Google event in New York, the American tech giant has announced its plan to incorporate generative AI features from its Bard chatbot into Google's own virtual assistant. This integration aims to offer personalized assistance with reasoning and generative functions on mobile devices. "(A) whole task is done through a couple of simple questions that you're asking your assistant, which is, we think, a very, very powerful concept," Sissie Hsiao vice president, Google assistant and Bard, told the news agency.

Apple has acknowledged software-related problems as the culprit behind the overheating issues reported by users of its recently released iPhone 15 models. Complaints about the devices becoming uncomfortably hot prompted Apple to investigate and assure users that a fix is on the way.

Apple is blaming a software bug and other issues tied to popular apps such as Instagram and Uber for causing its recently released iPhone 15 models to heat up and spark complaints about becoming too hot to handle

Apple is blaming a software bug and other issues tied to popular apps such as Instagram and Uber for causing its recently released iPhone 15 models to heat up and spark complaints about becoming too hot to handle. The Cupertino, California, company said Saturday that it is working on an update to the iOS17 system that powers the iPhone 15 lineup to prevent the devices from becoming uncomfortably hot and is working with apps that are running in ways «causing them to overload the system.»

Investing.com -- U.S. stock futures oscillated around the flatline, as the main indices on Wall Street are on track to post their worst month of 2023. Meanwhile, Micron Technology (NASDAQ:MU) shares fall steeply in premarket trading after the U.S. chipmaker announced a wider-than-expected first-quarter loss forecast, and Facebook-owner Meta Platforms (NASDAQ:META) unveils a host of new artificial intelligence-powered products.

Investing.com -- U.S. stock futures hint at a lower open, as the main indices on Wall Street are on track to post their worst month of 2023. Meanwhile, Micron Technology (NASDAQ:MU) shares fall steeply in premarket trading after the U.S. chipmaker announced a wider-than-expected first-quarter loss forecast, and Facebook-owner Meta Platforms (NASDAQ:META) unveils a host of new artificial intelligence-powered products.

Here's how analysts read the market pulse: «Nifty remained largely range-bound throughout the day as traders appeared uncertain. However, the short-term sentiment remains bearish as Nifty closed below the 21EMA.

Thomson Reuters accusing Ross Intelligence of unlawfully copying content from its legal research platform Westlaw to train a competing artificial intelligence-based platform, a Delaware federal judge said on Monday. The decision by US Circuit Judge Stephanos Bibas sets the stage for what could be one of the first trials related to the unauthorised use of data to train AI systems. Tech companies including Meta Platforms, Stability AI and Microsoft-backed OpenAI are also facing lawsuits from authors, visual artists and other copyright owners over the use of their work to train the companies' generative AI software.

Nasdaq ended higher on Wednesday after data showing a moderate increase in consumer prices in August cemented expectations that the Federal Reserve will leave interest rates unchanged in September. Megacap growth stocks Tesla, Meta Platforms, Microsoft and Amazon.com gained over 1% each.Apple dipped 1.2%, down for a second day after unveiling new iPhones on Tuesday while leaving prices unchanged. The S&P 500 climbed 0.12% to end the session at 4,467.44 points. The Nasdaq gained 0.29% to 13,813.59 points, while the Dow Jones Industrial Average declined 0.20% to 34,575.53 points. The S&P 500 consumer discretionary index climbed 0.9%, lifted as Ford Motor rallied 1.5% on the vehicle maker's plans to double the production of its hybrid F-150 pickup trucks in 2024. Data showed consumer prices increased by the most in 14 months in August as gasoline prices surged, but the annual rise in underlying inflation was the smallest in nearly two years. Stickiness in services inflation has kept alive prospects of a November hike.

By Kanishka Singh

By David Shepardson