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NAS:FB, Nov 15, 03:35 UTC

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Facebook Launches Marketplace Autos in Australia

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Facebook (FB) has launched its online car listing service, Marketplace Autos, in Australia, according to the Sydney Morning Herald. The launch comes after Facebook determined that a lot of Australians use its social network to search for cars. Facebook’s Australian car listings service will initially focus on used cars, showing a strategic move by the company into Australia’s auto classified market.

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Here’s Why Facebook’s Revenue Growth Is Slowing

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Facebook (FB) has been posting disappointing revenues due to declining user base growth. Facebook delivered revenues of ~$13.73 billion in Q3 2018, missing Wall Street expectations of $13.78 billion by 0.3%.

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Why Facebook Is Down 20% in 2018

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Nicholas Rossolillo, The Motley FoolMotley FoolNovember 15, 2018, 1:48 PM GMT. It all started with news that a little-known analytics firm called Cambridge Analytica had accessed users' private data on the social network during the 2016 presidential election. That set off a maelstrom of ire directed toward Facebook, how it handles its user information, and the content allowed on the network. In an effort to crack down on misuse, Facebook has embarked on a journey to shore up the data it collects and scrutinize the content that gets posted a little more carefully. While security isn't a bad thing -- we're talking about a software-application company with over 2.6 billion monthly users worldwide -- the stock's reaction would say otherwise.

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Zacks Earnings Trends Highlights: Macy???s, Amazon, Alphabet, Facebook and Caterpillar

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The overall earnings picture remains solid, though some pockets of weakness have showed up. For the small-cap S&P 600 index, we now have Q3 results from 533 index members or 88.7% of its members. Estimates for the current period (2018 Q4) have been coming down, with the current +13.7% earnings growth expected for the period down from +15.9% at the start of the quarter. For full-year 2018, total earnings for the S&P 500 index are expected to be up +21% on +6.7% higher revenues. For full-year 2019, total earnings are expected to be up +8.9% on +5.6% higher revenues. Macy’s same-store sales turned positive at the start of this year after 12 quarters of declines, with the positive trend continuing in the Q3 report, indicating that the department’s store’s first-half rebound was likely no fluke. The 63.6% revenues beats proportion in Q3 is the lowest that we have seen for this group of 456 index members since the fourth quarter of 2016, with even top-line bellwethers like Amazon AMZN, Alphabet GOOGL and Facebook FB coming up short on this count.

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Facebook responds to the New York Times' blockbuster exposé

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The New York Times recently published a bruising Facebook report saying, among other things, that the social network knew about Russian interference well before it said, feared Trump supporters and lobbied against critics. It denied that it knew about Russian activity as early as spring of 2016, prevented security chief Alex Stamos from looking into it and that it discouraged employees from using iPhones out of spite for Tim Cook's comments. Because of the length and complexity of the original article, the NYT published a mini-version with "6 key takeaways." The first, and most devastating, is that Facebook found signs well before the election, in the spring of 2016, that Russian hackers were "poking around the Facebook accounts of people linked to American presidential campaigns." Another major NYT critique was that "the company feared Trump supporters," which is why it decided to let his comments about the Muslim ban stand on the site. However, Facebook said while they were "abhorrent to many people, [the comments] did not break our Community Standards for the same reasons The New York Times and many other organizations covered the news: Donald Trump was a candidate running for office. To suggest that the internal debate around this particular case was different from other important free speech issues on Facebook is wrong."

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Hedgies Cut Facebook; Berkshire Adds JPM: TOPLive Takeaways

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Here are the KEY TAKEAWAYS from today’s blog on the hedge funds’ disclosure of third-quarter investments in 13F filings. For more, click here for our TOPLive blog. A number of investors reduced or cut their holdings in Facebook as the social-media giant’s stock dropped about 15 percent in the three months ended Sept. 30. Looking at energy holdings -- given the recent plummet in oil prices -- PointState Capital, a hedge fund firm run by Druckenmiller’s acolytes, reported a healthy dose of shares in the sector including Marathon Petroleum and Cheniere Energy. Seth Klarman’s Baupost and Appaloosa were among funds that increased their exposure to PG&E in the third quarter, and Viking Global took a new stake, before wildfires roared through California and crushed the utility’s stock price.

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Duquesne, Jana Among Fund Investors Breaking Up With Facebook

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The social-media giant, a onetime hedge fund darling, saw a number of high-profile investors hit the exit during the third quarter, when an earnings miss in July erased $120 billion from its market capitalization in a single day. Druckenmiller’s Duquesne Family Office reversed course on a $178 million stake it built in the second quarter, slashing that to $3.6 million, according to a filing Wednesday. Concerns over higher interest rates and the prospect of an escalating trade war between China and the U.S. are seen by some as creating a more challenging environment, pushing investors away from high-growth companies like the FAANGs -- Facebook, Amazon.com Inc., Apple Inc., Netflix Inc. and Google parent Alphabet Inc. -- which previously led gains for the broader market. David Tepper’s Appaloosa Management also reduced its Facebook stake last quarter, though he told CNBC on Sept. 13 that the company looked “kinda cheap.” By the end of that month, Tepper’s firm had a position worth $542.7 million and a third fewer shares than it owned on June 30.

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Zuckerberg took Tim Cooks criticism so personally, he barred employees from using iPhone

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Zuckerberg took Tim Cook's criticism so personally, he barred employees from using iPhone By ANI | California [United States] | Last Updated at November 15 2018 13:40 IST. Apple CEO Tim Cook would probably be more cautious when he says anything against Facebook. Following the CEO's remark on Facebook and its handling of user privacy, Mark Zuckerberg reportedly ordered his employees to stop using Apple products. The Facebook founder was reportedly so enraged by Tim Cook's remarks that he instructed executives to stop using iPhones in favour of Android devices, Mashable reported.

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Facebook shuts more accounts aimed at political meddling, Technology News, ETtech

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Facebook on Tuesday said it shut down more accounts aimed at influencing the US midterm election and that it is exploring a possible link to Russia. “As we’ve continued to investigate, we detected and removed some additional Facebook and Instagram accounts,” head of cyber security policy Nathaniel Gleicher said in an update posted at the social network. While stressing the challenge of identifying the culprits, he noted that a website claiming to be associated with the Internet Research Agency (IRA), a Russia based troll farm, published a list of Instagram accounts they said that they had created. Facebook had already shut down most of those account, and blocked the rest after an internal investigation, according to Gleicher. “Trolls have an incentive to claim that their activities are more widespread and influential than may be the case.” On the eve of the midterm election, Facebook announced it blocked some 30 accounts on its platform and 85 more on Instagram after police warned they may be linked to “foreign entities” trying to interfere.

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NYT: Facebook's crisis response included sneaky redirections

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It's no secret that the last couple of years have seen Facebook's reputation take a series of hits -- whether due to data breaches, alleged bias, rumors of intrusive spying or confusing policies -- but a New York Times report tonight exposes more about how the company reacted. Arriving on the heels of a Wall Street Journal article describing declining employee morale, it doesn't reflect well on Facebook's efforts and raises even more questions about an operation already facing calls for increased regulation. In addition to peering into previously identified problem areas like Facebook's slow response to the spread of misinformation or questionable applications of policies meant to be unbiased, it specifically calls out a strategy where the company tried to distract from criticism. Since late last year, it expanded work with a consultant, Definers Public Affairs, that the Times said used political campaign tactics in public relations. This includes everything from Facebook's public support for FOSTA to articles written on a conservative news site attacking Google and Apple. While Facebook execs went on an apology tour earlier this year, Apple CEO Tim Cook focused on his company's reticence to collect and sell data from its customers -- a point the report mentions in contrast to Mark Zuckerberg apparently telling his management team to use only Android because of its larger user base.

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