Much of the criticism has focused on a proposed “Tag Suggest” feature that would use facial recognition technology to match faces in photos with public profile features, part of a broad set of privacy changes the social networking giant announced on August 29.
SAN FRANCISCO (Reuters) – Shares of Facebook Inc rose more than 3 percent to a new high Wednesday, valuing the world’s No. 1 social network at $106 billion, as investors focused on its recent mobile advertising advances and the potential to expand ad revenue into new areas.
The stock touched $45 at 1:50 p.m. ET and briefly hit $45.07 shortly after 2 p.m. on the Nasdaq – highs not seen since May 18, 2012, the day of Facebook’s initial public offering. It closed at $45.04.
SAN FRANCISCO, Aug 29 (Reuters) – Salesforce.com Inc
raised its fiscal 2014 sales outlook after reporting
better-than-expected revenue and earnings on Thursday,
reassuring jittery investors that the cloud software company
will continue its red-hot growth.
The company raised its full-year revenue guidance to between
$4 billion and $4.025 billion, in line with Wall Street
expectations of roughly $4 billion.
SAN FRANCISCO (Reuters) – Media companies including the New York Times, Twitter and the Huffington Post lost control of some of their websites Tuesday after hackers supporting the Syrian government breached the Australian Internet company that manages many major site addresses.
The Syrian Electronic Army, a hacker group that has previously attacked media organizations that it considers hostile to the regime of Syrian president Bashar al-Assad, claimed credit for the Twitter and Huffington Post hacks in a series of Twitter messages.
SAN FRANCISCO (Reuters) – Governments sought information on over 38,000 Facebook users in the first half of 2013 and the No.1 social network complied with most requests, the firm said in its first report on the scale of data inquiries it gets from countries around the world.
The report follows allegations by former intelligence contractor Edward Snowden that practically every major Internet company – including Facebook, Google Inc and Microsoft Corp – routinely hands over troves of data on potentially millions of users to national intelligence agencies.
SAN FRANCISCO (Reuters) – Internet radio service Pandora Media Inc (P.N: Quote, Profile, Research, Stock Buzz) said on Thursday that rising expenditures to acquire music and expand its sales force would push fiscal 2014 earnings below analyst expectations, and its shares slumped 5 percent.
The company also backtracked on a 40-hour monthly limit on free music streaming that was announced just six months ago, a measure originally implemented to control rising costs. Pandora said it will lift the monthly cap September 1 after watching its margins improve.
SAN FRANCISCO (Reuters) – The long-running rivalry between Microsoft Corp and Google Inc is turning into a schoolyard brawl.
Microsoft on Wednesday opened a new front against the world’s No 1 search provider by piloting an ad-free offering for educational users of Bing, its search engine that for years has trailed Google.
PEBBLE BEACH, California (Reuters) – One sunny afternoon this week, a well-heeled crowd was milling around a showroom at Gooding and Co, the antique car auctioneer, to preview the prized relics that would soon go on the block.
They paused to admire the sumptuous 1929 Duesenberg and spotless postwar Ferraris. They appraised a gleaming MacLaren F1 and the perfectly restored 1936 Bugatti Atalante — a specimen rumored to be worth $10 million.
SAN FRANCISCO (Reuters) – Game publisher Zynga Inc (ZNGA.O: Quote, Profile, Research, Stock Buzz) announced Tuesday the departure of several senior executives, including Chief Operating Officer David Ko, as part of a management shake-up under new Chief Executive Don Mattrick.
The house cleaning comes a little more than a month after Mattrick, a former Microsoft Corp (MSFT.O: Quote, Profile, Research, Stock Buzz) executive, was named Zynga CEO on July 3 and tasked with turning around the struggling game maker.
SAN FRANCISCO (Reuters) – Groupon Inc on Wednesday said it named interim Chief Executive Eric Lefkofsky to lead on a more permanent basis, and reported better-than-expected revenue for the second quarter. Its stock rose 19 percent in after-hours trading.
The company also authorized a $300 million share repurchase program.
Lefkofsky, who was named interim CEO in February, delivered higher revenue for his first full quarter in charge, and shares hit a 52-week high after hours at $10.35.