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FB

Facebook

$161.22 /

+13.52 (+9.15%)

16:41
03/24/20
03/24
16:41
03/24/20
16:41

Facebook seeing weakening in ads business due to COVID-19 pandemic

Facebook said in a blog post that it has seen a weakening in its ads business in countries taking aggressive actions to reduce the spread of COVID-19. "We have received questions about revenue, so want to provide some context here too: Much of the increased traffic is happening on our messaging services, but we've also seen more people using our feed and stories products to get updates from their family and friends," the company said. "At the same time, our business is being adversely affected like so many others around the world. We don't monetize many of the services where we're seeing increased engagement, and we've seen a weakening in our ads business in countries taking aggressive actions to reduce the spread of COVID-19. During this emergency, we're doing everything we can to keep our apps fast, stable and reliable. Our services were built to withstand spikes during events such as the Olympics or on New Year's Eve. However, those happen infrequently, and we have plenty of time to prepare for them. The usage growth from COVID-19 is unprecedented across the industry, and we are experiencing new records in usage almost every day. Maintaining stability throughout these spikes in usage is more challenging than usual now that most of our employees are working from home. We are working to keep our apps running smoothly while also prioritizing features such as our COVID-19 Information Center on Facebook as well as the World Health Organization's Health Alert on WhatsApp. We're monitoring usage patterns carefully, making our systems more efficient, and adding capacity as required. To help alleviate potential network congestion, we are temporarily reducing bit rates for videos on Facebook and Instagram in certain regions. Lastly, we're conducting testing and further preparing so we can quickly respond to any problems that might arise with our services." Reference Link

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FB Facebook
$161.22 /

+13.52 (+9.15%)

03/17/20 Wedbush
Facebook added to Securities Investment Committee's Best Ideas List at Wedbush
03/11/20 Mizuho
Mizuho says own Internet stocks that benefit from travel restrictions
03/06/20 Needham
Facebook earnings estimates reduced at Needham on coronavirus impact
03/05/20
Snap upgraded to Buy from Neutral at MKM Partners

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Hot Stocks
Wynn Resorts extends benefits for all North America employees » 19:55
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Wynn Resorts

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Babcock & Wilcox to supply cooling towers for Belgium plant in $3M contract » 19:48
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Babcock & Wilcox

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SPDR Gold Shares holdings rise to 968.75MT from 967.00MT » 19:38
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SPDR Gold Shares

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Telefonica Brasil upgraded to Buy from Neutral at Goldman Sachs » 19:36
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Telefonica Brasil

$9.75 /

+0.2565 (+2.70%)

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Telefonica Brasil upgraded to Buy from Neutral at Goldman Sachs » 19:33
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Telefonica Brasil

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Anthem to waive cost share for members in COVID-19 treatment » 19:32
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Anthem

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Recommendations
Jefferies says churn at Bill.com has not increased, interest in automation high » 19:29
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BILL

Bill.com

$31.59 /

-2.65 (-7.74%)

Jefferies analyst Samad…

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Periodicals
Treasury taps Wall Street banks to advise on airline assistance, WSJ reports » 19:17
04/01/20
04/01
19:17
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19:17
AAL

American Airlines

$10.69 /

-1.495 (-12.27%)

, SAVE

Spirit Airlines

$11.31 /

-1.66 (-12.80%)

, UAL

United Airlines

$25.65 /

-5.935 (-18.79%)

, JBLU

JetBlue

$8.11 /

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, DAL

Delta Air Lines

$23.95 /

-4.59 (-16.08%)

, LUV

Southwest

$32.03 /

-3.56 (-10.00%)

, ALK

Alaska Air

$26.36 /

-2.11 (-7.41%)

, MC

Moelis

$27.14 /

-0.92 (-3.28%)

, BA

Boeing

$130.24 /

-18.78 (-12.60%)

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On The Fly
Fly Intel: After-Hours Movers » 19:13
04/01/20
04/01
19:13
04/01/20
19:13
PVH

PVH Corp.

$32.53 /

-5.08 (-13.51%)

, IO

ION Geophysical

$1.16 /

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, CRTO

Criteo

$7.55 /

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, FTI

TechnipFMC

$6.54 /

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, YTEN

Yield10 Bioscience

$4.02 /

+0.26 (+6.91%)

, AFMD

Affimed N.V.

$1.60 /

+0.02 (+1.27%)

, RRTS

Roadrunner

$2.55 /

+ (+0.00%)

, ETH

Ethan Allen

$9.45 /

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, MUR

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$5.60 /

-0.52 (-8.50%)

, ARNC

Arconic

$6.83 /

+ (+0.00%)

, DHT

DHT Holdings

$7.77 /

+0.09 (+1.17%)

, GMLP

Golar LNG Partners

$3.17 /

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, NVTA

Invitae

$11.72 /

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, SHOP

Shopify

$384.67 /

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, NVRO

Nevro

$89.51 /

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, PCAR

Paccar

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, CSII

Cardiovascular Systems

$35.13 /

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Periodicals
Tesla to completely redesign Cybertruck, Carbuzz says » 19:10
04/01/20
04/01
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19:10
TSLA

Tesla

$481.60 /

-42.4 (-8.09%)

Tesla's Cybertruck,…

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Periodicals
Panasonic employee at Tesla's NY plant tests positive for COVID-19, Verge says » 19:00
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PCRFY

Panasonic

$0.00 /

+ (+0.00%)

, TSLA

Tesla

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Hot Stocks
Ethan Allen evaluating quarterly dividend and to delay capex » 19:00
04/01/20
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ETH

Ethan Allen

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In light of the temporary…

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Ethan Allen furloughs about 70% of global workforce » 18:57
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ETH

Ethan Allen

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Ethan Allen announced its…

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Recommendations
Shopify suspending guidance 'not a surprise,' says Baird » 18:56
04/01/20
04/01
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SHOP

Shopify

$384.67 /

-33.65 (-8.04%)

Baird analyst Colin…

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PVH Corp. CEO Manny Chirico tests positive for COVID-19 » 18:46
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PVH

PVH Corp.

$32.53 /

-5.08 (-13.51%)

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NY lawmakers, unions call on Bezos to close Amazon warehouses hit by COVID-19 » 18:45
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AMZN

Amazon.com

$1,909.45 /

-36.55 (-1.88%)

45 New York lawmakers,…

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PVH Corp. CEO: We have a conservative capital structure » 18:43
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PVH

PVH Corp.

$32.53 /

-5.08 (-13.51%)

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Nissan says U.S. manufacturing sites to remain closed through late April » 18:37
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NSANY

Nissan

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Nissan said that its…

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Nissan says employee at Kyushu assembly line tests positive for COVID-19 » 18:36
04/01/20
04/01
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NSANY

Nissan

$0.00 /

+ (+0.00%)

Nissan said that, on…

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Hot Stocks
FTC sues to unwind Altria's $12.8B investment in Juul » 18:30
04/01/20
04/01
18:30
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18:30
MO

Altria Group

$37.70 /

-1 (-2.58%)

The Federal Trade…

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Periodicals
Starbucks to extend COVID-19 provisions to May 3, Reuters reports » 18:24
04/01/20
04/01
18:24
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18:24
SBUX

Starbucks

$62.63 /

-3.1 (-4.72%)

Starbucks said it intends…

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Periodicals
FTC files suit to unwind Altria's $12.8B Juul investment, Bloomberg says  18:23
04/01/20
04/01
18:23
04/01/20
18:23
MO

Altria Group

$37.70 /

-1 (-2.58%)

 
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Syndicate
Carnival 62.5M share Secondary priced at $8.00 » 18:18
04/01/20
04/01
18:18
04/01/20
18:18
CCL

Carnival

$8.79 /

-4.365 (-33.18%)

The deal size was lowered…

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Hot Stocks
Cisco CEO: We're sending equipment to hospitals » 18:16
04/01/20
04/01
18:16
04/01/20
18:16
CSCO

Cisco

$38.33 /

-0.95 (-2.42%)

In an interview on…

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Hot Stocks
Welltower settles forward sale agreement for 6.8M shares of common stock » 18:11
04/01/20
04/01
18:11
04/01/20
18:11
WELL

Welltower

$40.70 /

-4.995 (-10.93%)

The company states:…

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