Tag Archives: request

Facebook Chief To Meet With Conservatives Over Liberal Bias Fire

Facebook ( FB ) CEO Mark Zuckerberg responded to a report suggesting that contractors working on the social network’s “Trending Topics” feature suppressed stories from conservative media outlets from appearing on its influential “Trending” news section. “We take this report very seriously and are conducting a full investigation to ensure our teams upheld the integrity of this product,” Zuckerberg wrote in a Facebook post . The report from Gizmodo , published Monday, says the claims were made by a former contractor, who was described as politically conservative and who worked with Facebook. The contractor said stories on conservative topics were prevented from appearing in the Trending section on Facebook, even though they were organically trending among the site’s users, allegations that Facebook denied. Some conservatives reacted angrily to the report, prompting calls for a congressional inquiry from U.S. Sen. John Thune, R.-S.D., who chairs the Senate Commerce Committee. “If true, these allegations compromise Facebook’s ‘open culture’ and mission ‘to make the world more open and connected,’ ” Thune wrote in a letter to Zuckerberg. “We have found no evidence that this report is true,” Zuckerberg wrote. “If we find anything against our principles, you have my commitment that we will take additional steps to address it.” Zuckerberg said in the coming week he’ll be inviting leading conservatives and people from across the political spectrum to share their points of view. On Tuesday, Facebook Vice President of Global operations, Justin Osofsky, also responded to the allegation. “The Trending Topics team is governed by a set of guidelines meant to ensure a high-quality product, consistent with Facebook’s deep commitment to being a platform for people of all viewpoints,” he wrote. Facebook stock, meanwhile, is trading near record highs after breaking out April 28 at a 117.09 buy point. Shares were down a fraction, near 120, in early trading in the stock market today , after touching a record high of 121.08 on Wednesday. It is an IBD Leaderboard stock.

Big Profit Gains Ahead For 3 Top Tech Stocks?

Internet stocks aren’t dominating the Tech Leaders list as they might have in years past. But three online content plays have strong earnings growth, behind them and up ahead. Facebook ( FB ) profit soared 83% to 77 cents a share in Q1, topping views by 15 cents, for its best gain in seven quarters. Revenue grew 52% to $5.26 billion, also well ahead of forecasts. The social network fired on all cylinders, with a 16% increase in daily active users, 15% higher monthly active users, and a 21% jump in mobile monthly active users. Mobile advertising revenue made up 82% of total ad sales, up from 73% in the year-earlier quarter. Analysts expect solid EPS gains to continue in Q2 and Q3 at 62% and 53%, respectively. The stock is still in buy range from a 117.09 cup-with-handle buy point it gapped past April 28 on its earnings report. With the market uptrend still under pressure, Facebook hasn’t been able to gain much upside traction but has held nearly all its gains. WebMD Health ( WBMD ) has posted 33% or higher quarterly earnings growth for the past three years. Analysts expect the pace to slow to a perfectly respectable 25% in Q2 and to 38% in Q3. WebMD’s 96 Composite Rating is second-best in the Internet content group, behind Facebook’s 98. The stock is extended from a 58.35 buy point cleared in March, but it is in buy range from a pullback to the 10-week moving average. Shares have rallied more than 30% so far this year, far outperforming the Nasdaq composite. Weibo ( WB ) (87 Composite) reported its first full-year profit, covering 2015, with consensus estimates targeting a 59% jump this year and 67% the next. The Chinese microblogging service’s Q1 EPS surged by triple digits, although it was just 7 cents from a year-earlier profit of a penny a share. Analysts expect an 80% increase in Q2 and a 60% gain in Q3. Shares are extended from a 19.20 cup-with-handle buy point which they blew past on April 6. Those who haven’t yet locked in gains could consider doing so, given the market uncertainty.

SunEdison Yieldco TerraForm Global Charred On Loan Default Notice

SunEdison yieldco TerraForm Global ( GLBL ) has 90 days to file its delayed 10-K or be required to immediately repay $810 million in defaulted loans, according to a U.S. Securities and Exchange Commission filing. Goldman Sachs and other lenders backing the 9.75% senior notes, due in 2022, agreed to reduce TerraForm Global’s commitment to $350 million. TerraForm Global has until June 30 to comply with Nasdaq listing requirements by turning over the late 10-K, the annual financial report that the SEC requires of all publicly traded companies. A number of energy companies have formed publicly traded yieldcos designed to hold assets and provide steady cash flows and certain tax benefits. Fellow yieldco TerraForm Power ( TERP ) is also facing Nasdaq threats of delisting. Neither SunEd nor either of its TerraForm yieldcos have turned over their 10-K reports. Parent SunEdison technically defaulted on $725 million in second-lien loans — unless extensions were granted — before declaring bankruptcy earlier this year. TerraForm Global has until June 30 to issue its report for the quarter ended March 31, and no more than 75 days after June 30 and Sept. 30 to report earnings for the quarters ended on those respective dates. “Failure to deliver such financial statements would constitute an event of default,” according to the Tuesday filing. If  TerraForm Global defaults on its loans, its lenders can declare the loan and interest immediately “due and payable,” according to the original agreement. Bloomberg estimates there is $760.4 million outstanding on the notes. In early trading on the stock market today , TerraForm Global stock was down 2.5%, near 2.60. Shares are down nearly 50% this year. TerraForm Power stock was up a fraction early Friday, near 8.80.