Mark Zuckerberg reverses hate-content policy after Facebook stock nosedives
Wall Street talked and Mark Zuckerberg finally listened.The Facebook CEO did an abrupt about-face on Friday by implementing policy changes regarding hate content on his social media platform as the company’s stock nosedived.At market close, Facebook shares were down 8.3% for the day to $216.08 per share.Zuckerberg announced the changes during a virtual meeting on Friday as yet more advertisers vowed to stop advertising on Facebook, sending shares tumbling.The 36-year-old entrepreneur asserted that the company would take a more proactive stance in eliminating hateful content in ads, blocking fa...
New York Daily News
Wall Street plunges amid fear of economic fallout, COVID-19 spikes
An alarmist red engulfed trading screens on Wall Street, as the Dow Jones Industrial Average plunged Thursday in the biggest drop since March.The Dow fell 1,861.82 points or 6.9% to close at 25,128.17 points.The sell-off leaves investors wondering whether we’re likely to give back many of the gains we’ve seen since the height of the coronavirus panic in late March. Are we heading back to the days when we dreaded looking at statements for our 401(k)s?On the one hand, some analysts maintain that the mood of the past few weeks on Wall Street had rapidly swung from thoughts of an all-out economic ...
Detroit Free Press
Tesla shares surge, hit $1,000 for first time
Tesla was a star on Wall Street, Wednesday, as investors threw their weight behind the electric carmarker and drove its share price above $1,000 for the first time.Tesla shares surged 7.5%, to reach as high as $1,011.65 shortly after trading began. Enthusiasm for Tesla was stoked by a report from Reuters which cited a memo to company employees from Chief Executive Elon Musk in which Musk said the company was ready to begin “volume production” of its electric semi truck.Tesla debuted its electric semi in 2017, but has only produced a limited number of the trucks. In his memo, Musk said Tesla ha...
The Mercury News
Fox News apologizes for racist stock market graphic referencing George Floyd killing and MLK assassination
NEW YORK — One day after Fox News aired a stunning graphic correlating stock market gains following notable tragic events involving black Americans, it offered an apology.The contrite concession came Saturday after outraged viewers howled over the insensitive chart shown during Friday’s broadcast of “Special Report With Bret Baier.”The bar graph illustrated the change percentage in the S&P 500 one week after the 2014 police shooting of Missouri teen Michael Brown, the 1992 acquittal of cops charged with beating Rodney King, Martin Luther King Jr.'s 1968 assassination and George Floyd’s recent ...
New York Daily News
Susan Tompor: Can coronavirus comeback story continue for the stock market?
As we spot more “curbside pickup” and “open for business” signs along Main Street, investors are wondering what’s next on Wall Street as we edge closer to reopening the U.S. economy after COVID-19 shutdowns.Our 401(k) plans clearly took a nasty turn down a road packed with potholes in late February through March.By the day after Memorial Day, though, Wall Street had regained some stability, far more than many expected in the darkest days in late March.The Dow was only a few points shy of the 25,000 mark — right around where it was on March 10 before the market would tumble to coronavirus-lows ...
Detroit Free Press
Warren Buffett sells stake in Delta, other airlines
Billionaire investor Warren Buffett sold his stake in Delta Air Lines and other major U.S. carriers, portending rough skies ahead for the airline industry.The move drove a drop in Atlanta-based Delta’s already-deflated stock price after markets opened Monday. Delta shares were trading in the $21-$22 range mid-morning, down nearly 10% from Friday’s close. Delta stock had been as high as $62 in mid-January but began a steep decline in late February as the coronavirus spread.Buffett’s Berkshire Hathaway had been investing in airlines since 2016, spending $7 billion to $8 billion to buy 10% of Del...
The Atlanta Journal-Constitution
Don't ignore a sitting car during the pandemic. NASCAR's tips to avoid breakdown
Stay-at-home orders mean staying off the road, too, with some people not driving their cars for weeks during the COVID-19 pandemic.That can cause breakdowns if you’re not wary.Jay Sinon, an instructor with NASCAR’s Technical Institute, offered tips about heading off car trouble for those who might now park their vehicles for weeks at a time.BatteriesSinon said this is your biggest concern, in part because all the electronics in modern cars can drain down batteries even when they are sitting idle.“Without you driving your car on a daily basis, the battery is going to tend to go dead,” said Sino...
The Charlotte Observer
Coronavirus: Facebook, Apple lead gains as pandemic market goes north
The up-and-down nature of the coronavirus-era stock market was on display Wednesday, as shares of Bay Area stalwarts such as Facebook, Apple and Tesla turned north in a rally attempting to recoup at least some of the week’s earlier big losses.The blue-chip Dow Jones Industrial Average, which fell more than 1,200 points between Monday and Tuesday, rallied by 405 points to reach 23,424.38 on Wednesday as oil prices rose following two days of historic declines. The S&P 500 was up by 2%, at 2,790.72, and the Nasdaq Composite Index rose by 2.3%, to 8,455.47.Facebook climbed by 5%, to $179.24 a shar...
The Mercury News
Retracing John Paxson's complicated 35 years with the Bulls as the organization charts a new course for the future
CHICAGO — John Paxson’s tenure as the Bulls top basketball executive — a 17-year stretch that included the post-Jordan era, Derrick Rose renaissance and this recent stagnant stage — came to an end this week.The Bulls gave Arturas Karnisovas Paxson’s old title of vice president of basketball operations. And although Paxson will remain in the organization, he will move into a new role as senior adviser. Consider him a resource for Karnisovas when needed but someone who ultimately will fade to the background.“When I came here in 1985, I never imagined what the Chicago Bulls would mean to me more ...
The Week Ahead: Why time is money at Netflix
Among the carnage in the stock market brought on by COVID-19, Netflix has come through as a rare bright spot for investors. The stock has rallied more than 10% from its pre-coronavirus price to a new record high.Shareholders will learn if their optimism has been well placed when the company releases its latest quarterly financial results on Tuesday in the week ahead. As large parts of the economy have been shutdown to fight the spread of the virus, Netflix is the stay-at-home star.The company’s latest quarter includes March, when Americans and Europeans, the two big audiences for Netflix, were...