It is the 13th of November 2019

News

"I Feel Tremendous Guilt": Former Facebook Exec Says Company Is "Ripping Apart The Social Fabric Of Society"

In the most ironic story of the day, and perhaps of 2017, a former Facebook executive whose job it was to literally get the world hooked on the "internet crack" that is social media, is now calling on people to take a "hard break" from a service which he believes is "ripping apart the social fabric of how society works."  Speaking to a group of students at the Stanford Graduate School of Business, Chamath Palihapitiya, who joined Facebook in 2007 and became its vice president for user growth, said that he feels "tremendous guilt" for his role in building the social media giant and warned  that "if you feed the beast, that beast will destroy you..." (you can view the relevant portion of the interview here).

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Disney Slides On Earnings Miss, Declining ESPN Revenue And Viewership, Layoffs

Disney is sliding after hours after another poor quarter, in which the Mickey Mouse company which recently severed relations with Netflix, reported a miss on the top and the bottom line, reporting Q4 EPS of $1.07, down 3% from the $1.10 a year ago, and below the $1.14 expected. The number would have been even worse had the company used the 34.3% effective tax rate it had one year ago instead of the lower 30.8% rate it used this quarter. The revenue miss was even worse, with DIS generating $12.78BN in Q4, 3% below a year ago, and over half a billion below the $13.32BN expected. Total operating income declined by 11% to $2.8BN from $3.2Bn a year ago, while free cash flow remained flat at $2.7 billion.

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Amazon Soars Above $1,000 After Smashing Expectations

Amazon has done it again, and following a lukewarm second quarter and with Goldman warning not to get too excited going into earnings, Amazon is back to its short-crushing ways, reporting both revenues and EPS which blew away expectations.  In Q3, Amazon reported EPS of 52 cents, unchanged from a year ago (due to fudging the company's tax rate) and beating consensus estimates of 4 cents, on net sales of $43.7 billion, also well above the $42.19 billion consensus estimate, entirely due to the contribution of AWS.  It was also above the high end of the company's own range, which topped out at $41.75 but did not include Whole Foods, which deal closed on August 28. That said, AMZN EPS expectations as recently as July were $1.09.

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Netflix Jumps After Smashing Subscriber Expectations, Unveils $17 Billion In Content Commitments

After some initial confusion, Netflix stock surged after hours, a repeat of what it did last quarter, soaring above its all time high price, up over 2% after reporting Q3 numbers which while beating slightly on revenues ($2.99Bn, Exp. $2.97Bn), and beating modestly on non-GAAP EPS (GAAP EPS$0.29, non-GAAP EPS $0.37, exp. $0.32), were far more remarkable for the subscriber numbers, which smashed expectations as follows:

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Twitter Provides "Russian Interference" Update; Senator Warner Blasts As "Deeply Disappointing"

Earlier today Twitter Vice President for Public Policy Colin Crowell met with staff from Senate Select Committee on Intelligence and House Permanent Select Committee on Intelligence to discuss how Twitter may have been exploited by sneaky Russian operatives to sway the course of American history by undermining the candidacy of Hillary Clinton. 

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Twitter To Expand Character Limit From 140 To 280

And just like that, Twitter became a mini blog, as its 140-character limit died today after a long battle with Facebook.

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