Facebook shares slip after News Feed overhaul
 
, Posted on 13-Jan-2018


Facebook shares slip after News Feed overhaul

Shares of Facebook Inc fell 4 percent yesterday after Chief Executive Mark Zuckerberg announced changes to the platform’s centerpiece News Feed that he said would hit user engagement in the near term.

Zuckerberg said on Thursday the company would change the filter for the News Feed to prioritize what friends and family share, while reducing the amount of non-advertising content from publishers and brands.

If the premarket declines in shares hold, Facebook stands to lose nearly $23 billion from its market capitalization on Friday as a result of the move.

Pivotal Research Group said its analysis of Nielsen’s digital consumption rates showed that usage was already falling prior to Zuckerberg’s announcement, although from very high levels.

“We can speculate that the concerns reflected in Zuckerberg’s post may very well have been driving these declines,” Pivotal’s Brian Wieser wrote in a note.

The company has been criticized for algorithms that may have prioritized misleading news and misinformation in people’s feeds, influencing the 2016 American presidential election as well as political discourse in many countries.

Reuters


Related News

Singapore to test facial recognition
Apr 14

Singapore to test facial recognition

Singapore : In the not too distant future, surveillance cameras sitting atop over 100,000 lampposts in Singapore could help authorities pick out and recognise faces in crowds across the island-state. The plan to install the cameras, which will be linked to facial recognition software, is raising privacy fears...

Read More
Zuckerberg believes AI will fix Facebook
Apr 13

Zuckerberg believes AI will fix Facebook

Washington : Artificial intelligence will solve Facebook’s most vexing problems, chief executive Mark Zuckerberg insists. He just can’t say when, or how. Zuckerberg referred to AI technology about 23 times during his five-hour testimony before a joint Senate committee hearing on Tuesday, saying that...

Read More
It looks simple, but this French house was built by a robot
Apr 12

It looks simple, but this French house was built by a robot

Nantes : Researchers have unveiled what they billed as the world’s first 3D-printed house to serve as a home in the French city of Nantes, with the first tenants due to move in by June. Academics at the University of Nantes who led the project said it was the first house built in situ for human habitation...

Read More
Facebook to offer ‘bounty’ for reporting data abuse
Apr 11

Facebook to offer ‘bounty’ for reporting data abuse

Washington : Facebook said Tuesday it would begin offering rewards to people who report misuse of private information from the social network, as part of an effort to step up data protection in the wake of a firestorm. The new program “will reward people with first-hand knowledge and proof of cases where a...

Read More
Facebook says up to 2.7 million EU users affected by data leak
Apr 07

Facebook says up to 2.7 million EU users affected by data leak

Brussels : The European Union said Friday that Facebook has told it that up to 2.7 million people in the 28-nation bloc may have been victim of improper data sharing involving political data-mining firm Cambridge Analytica. EU spokesman Christian Wigand said EU Justice Commissioner Vera Jourova will have a...

Read More
Facebook shares tumble
Mar 27

Facebook shares tumble

Washington : Shares of Facebook Inc fell more than 5 per cent yesterday after the U.S. consumer protection regulator made public its investigation of how the social network allowed data of 50 million users to get into the hands of political consultancy Cambridge Analytica. Scrutiny by the U.S. Federal Trade...

Read More
China driverless cars in ‘3-5 years’
Mar 16

China driverless cars in ‘3-5 years’

Beijing  : Self-driving cars will hit the roads in China “within three to five years”, the founder of Chinese internet giant Baidu, one of the world’s leading designers of driverless cars, said Thursday. That is a lot sooner than predicted by China’s information technology minister,...

Read More
Dell explores IPO or merger with VMware
Feb 03

Dell explores IPO or merger with VMware

Dell Technologies Inc said yesterday it is evaluating a potential public offering of its common stock or a potential business combination between the U.S. computer maker and business software provider VMware Inc.  “The potential business opportunities currently being evaluated by Dell Technologies do not...

Read More
US probes Apple over slowing iPhones: report
Feb 01

US probes Apple over slowing iPhones: report

The U.S. Department of Justice and Securities and Exchange Commission are investigating whether Apple Inc violated securities laws concerning its disclosures that it slowed older iPhones with flagging batteries, Bloomberg reported on Tuesday. The government has requested information from the company, Bloomberg...

Read More
Apple shares skid on report  of iPhone X production cut
Jan 30

Apple shares skid on report of iPhone X production cut

Apple Inc will halve its iPhone X production target for the first quarter to around 20 million units, Nikkei reported yesterday, sending its shares down more than 2 percent in early trading. The report added to growing concerns around weak sales of the $999 phone, making investors jittery about the company’s...

Read More