Today’s Research Reports on Stocks to Watch: Facebook and Twitter
The European Union has just given Facebook an enormous fine over a promise it has failed to keep regarding its acquisition of WhatsApp. Twitter shares moved slightly ahead despite a new feature next month being added that could be a major invasion of privacy for many users.
RDI Initiates Coverage on:
Facebook Inc. shares closed up 1.94% on Thursday despite being hit with a European Union fine over its WhatsApp takeover back in 2014. The social networking giant has been slapped with a $122 million fine for making misleading statements during the WhatsApp purchase. This, despite being one of the biggest regulatory penalties that Facebook has ever had, $122 million does-not look too damaging for a company that posted $8.03 billion of revenue last quarter. According to the European Union’s antitrust chief, Margrethe Vestager, Facebook had told the European Commission, the executive arm of the European Union, that it would not combine the company’s data with that of WhatsApp. The problem is that last August Facebook announced that it would. “Today’s decision sends a clear signal to companies that they must comply with all aspects of E.U. merger rules,” Ms. Vestager remarked. “And it imposes a proportionate and deterrent fine on Facebook. The commission must be able to take decisions about mergers’ effects on competition in full knowledge of accurate facts.”
Access RDI’s Facebook Research Report at:
Access RDI’s Twitter Research Report at:
Our Actionable Research on Facebook, Inc. (NASDAQ: FB) and Twitter, Inc. (NYSE: TWTR) can be downloaded free of charge at Research Driven Investing.
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