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Sectors

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.1% and the State Street SPDR S&P Semiconductor ETF (XSD) easing 0.2%. The Philadelphia Semiconductor index fell 1.7%.In sector news, Tesla (TSLA) Chief Executive Elon Musk is set to become the world's first trillionaire following the IPO of SpaceX (SPCX), CNBC reported. Musk's stake in the rocket and satellite communications firm is worth $866.5 billion on paper, CNBC reported, citing the company's prospectus.In corporate news, CrowdStrike (CRWD) reported strong fiscal Q1 results amid accelerating demand for AI, but questions around the company's performance sustainability remain, BofA Securities said. CrowdStrike shares were down 4%.Broadcom (AVGO) shares fell past 11% after it reported fiscal Q2 results late Wednesday. The company's fiscal Q3 AI revenue outlook likely fell short of investor expectations, while Q2 results were slightly ahead of consensus, RBC said in a note.Alphabet (GOOGL) said Thursday Google and Intersect plan to build the Meitner Energy Center, which includes a new data center co-located with more than a gigawatt of wind, solar, and battery storage systems in Gray and Roberts Counties, Texas. Alphabet shares rose 3.7%.Meta Platforms' (META) Instagram is rolling out Instagram Plus globally, a new optional subscription tier offering exclusive features for users who want more control and customization. Separately, Meta is considering charging as much as $200 a month for a premium tier of its planned AI agent product, currently known as Hatch, The Information reported. Meta shares increased 0.2%.

$AVGO$CRWD$GOOGL$META
Sectors

Sector Update: Tech Stocks Fall Thursday Afternoon

Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1.6% and the State Street SPDR S&P Semiconductor ETF (XSD) down 0.7%.The Philadelphia Semiconductor index dropped 2.1%.In sector news, Tesla (TSLA) Chief Executive Elon Musk is set to become the world's first trillionaire following the IPO of SpaceX (SPCX), CNBC reported. Musk's stake in the rocket and satellite communications firm is worth $866.5 billion on paper, CNBC reported, citing the company's prospectus.In corporate news, Broadcom (AVGO) shares fell past 11% after it reported fiscal Q2 results late Wednesday. The company's fiscal Q3 AI revenue outlook likely fell short of investor expectations, while Q2 results were slightly ahead of consensus, RBC said in a note.Meta Platforms' (META) Instagram is rolling out Instagram Plus globally, a new optional subscription tier offering exclusive features for users who want more control and customization. The subscription adds new audience controls, story-engagement insights, and profile-customization options, with the free version unchanged, Instagram said Thursday in a statement. Separately, Meta is considering charging as much as $200 a month for a premium tier of its planned AI agent product, currently known as Hatch, The Information reported. Meta shares rose 1.1%.Snap (SNAP) has acquired spatial augmented reality firm Illumix, a company spokesperson confirmed through email toThursday. Snap shares climbed 4.5%.

$AVGO$META$SNAP
Wire

Meta Platforms' Instagram Launches Optional Subscription Tier With New Customization Features

Meta Platforms' (META) Instagram is rolling out Instagram Plus globally, a new optional subscription tier offering exclusive features for users who want more control and customization.The subscription adds new audience controls, story-engagement insights, and profile-customization options, with the free version unchanged, Instagram said Thursday in a statement.Pricing for Instagram Plus has been reported at $3.99 per month by several media outlets.Price: $632.05, Change: $+9.07, Percent Change: +1.46%

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Sectors

Sector Update: Tech Stocks Mixed Late Afternoon

Tech stocks were mixed late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 0.9% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.3%.The Philadelphia Semiconductor Index advanced 1.3%.In corporate news, Adobe (ADBE) is eyeing two internal candidates and has also tapped a well-known search firm to find external candidates with experience in AI products, as it looks to find a new chief executive, Bloomberg reported. Adobe shares were down 2.5%.Apple (AAPL) is unlikely to see the World Wide Developer Conference act as a "positive catalyst" for the shares, with UBS Securities saying the event is expected to focus mainly on software updates and AI ahead of the June 8 keynote. Apple shares were shedding 1.3%.Meta Platforms (META) introduced its AI-powered Business Agent, a tool designed to help firms raise output and deliver personalized customer interactions. Meta shares rose 4.2%.Alphabet (GOOG, GOOGL) increased the size of its equity capital raise to $84.75 billion from $80 billion, according to a regulatory filing Tuesday. The offering includes a pledge by Berkshire Hathaway (BRK.A, BRK.B) to invest $10 billion in the tech giant in a private placement, the filing said. Alphabet's Class A and Class C shares were each down 0.7%.

$AAPL$ADBE$GOOG$GOOGL$META
Wire

Meta Platforms Rolls Out AI Business Agent Across Messaging Apps

Meta Platforms (META) introduced its AI-powered Business Agent, a tool designed to help companies increase output and deliver personalized customer interactions.The agent will initially be available to select businesses on the WhatsApp Business app, Instagram Pro, Messenger and Meta Business Suite, the company said Wednesday in a statement. It can be set up in minutes or integrated into existing enterprise systems.Meta also introduced the Meta Business Agent Platform, which provides the infrastructure for businesses to build, customize and deploy their own agents at scale.Price: $617.11, Change: $+19.48, Percent Change: +3.26%

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Wire

Market Chatter: Meta Platforms' Chief Information Security Officer Guy Rosen to Depart

Meta Platforms' (META) chief information security officer Guy Rosen plans to exit the technology company over the next few months, Bloomberg reported Tuesday, citing an internal post.The company has initiated a talent hunt to find a successor for Rosen, who will remain with the organization during the transition period, according to the report.Rosen recently expanded his responsibilities to incorporate artificial intelligence into internal business processes while maintaining his position as chief information security officer, the media outlet reported.Meta Platforms did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $605.99, Change: $+5.52, Percent Change: +0.92%

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Research

Arete Upgrades Meta Platforms to Buy From Neutral, Adjusts Price Target to $735 From $614

Meta Platforms (META) has an average rating of buy and mean price target of $820.33, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Wire

Meta Platforms' Rising AI Capex Offers an Opportunity Amid Rising Global Entrepreneurialism, RBC Says

Meta Platforms (META) stock overhang stems primarily from investor concerns around its rising artificial intelligence capex, but this could present an opportunity amid rising AI-enabled entrepreneurialism worldwide, RBC Capital Markets said in a research report emailed Monday.The company has an opportunity to natively identify nascent markets, which could support its transition from a passive ad network into an automated incubator, analysts wrote.Deepening advertiser penetration at a fraction of current spend alongside product portfolio expansion with existing advertisers as compute ramps could create optionality around engagement, according to the note.The brokerage said it reiterated its outperform rating on the stock and price target of $810 per share.Price: $613.16, Change: $-19.35, Percent Change: -3.06%

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Research

Research Alert: Meta: Subscription Offerings Could Help Change The Narrative

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:META announced a global expansion of subscription offerings across Instagram, Facebook, and WhatsApp, introducing consumer plans priced at $3.99/month for Instagram Plus and Facebook Plus, and $2.99/month for WhatsApp Plus. The plans are intended to provide enhanced features like profile personalization, expanded reactions, and story analytics. META is also testing new subscription tiers under the Meta One brand, with AI-focused plans (Meta One Plus at $7.99/month; Meta One Premium at $19.99/month), as well as professional solutions for creators and businesses (Meta One Essential at $14.99/month; Meta One Advanced at $49.99/month). We consider this strategic shift a positive, as it has the potential to diversify META's revenue model beyond advertising with a more stable, recurring revenue stream, while boosting user engagement through premium features. Peer SNAP has found success through subscriptions. Up until now, investors have been frustrated by META's elevated spend and lack of new product rollouts.

$META
Sectors

Sector Update: Tech Stocks Fall Late Afternoon

Tech stocks were lower late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) down 0.5% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.4%.The Philadelphia Semiconductor index lost 1.5%.In corporate news, Zscaler (ZS) shares tumbled 31% after the cloud security company provided a fiscal Q4 revenue outlook below market estimates, even though it reported better-than-expected results for the prior three-month period.Meta Platforms (META) plans to sell Meta AI chatbot consumer subscriptions for the first time, as the company looks to offset its billions of dollars of investments in AI, Bloomberg reported. Meta shares rose 3.4%.Super Micro Computer (SMCI) shares added 2.6% after the firm said Verda has selected its Nvidia (NVDA) GPU-accelerated, rack-scale systems for its AI cloud infrastructure in Europe.Taiwan Semiconductor Manufacturing (TSM) Chief Executive C.C. Wei told employees they will receive a more than 30% increase in profit-sharing payouts on average this year, driven by strong earnings growth fueled by AI demand, Bloomberg reported. Taiwan Semiconductor shares gained 3%.

$META$SMCI$TSM$ZS
Sectors

Sector Update: Tech

Tech stocks were lower late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) down 0.5% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.5%.The Philadelphia Semiconductor index lost 1.7%.In corporate news, Meta Platforms (META) plans to sell Meta AI chatbot consumer subscriptions for the first time, as the company looks to offset its billions of dollars of investments in AI, Bloomberg reported. Meta shares rose 3.8%.

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Wire

Market Chatter: Meta Platforms to Sell Consumer Subscriptions to its AI Chatbot for First Time

Meta Platforms (META) plans to sell Meta AI chatbot consumer subscriptions for the first time, as the company looks to offset its billions of dollars of investments in artificial intelligence, Bloomberg reported Wednesday, citing a company spokesperson.The new subscriptions come in two tiers, namely, a $7.99 a month basic tier called Meta One Plus and $19.99 more advanced tier called Meta One Premium, and will start rolling out in Singapore, Guatemala and Bolivia, with plans for further expansion later, according to the report.Users will continue to be able to use Meta AI chatbot for free, but will eventually run into a limit with repeated usage, the report said.Meta Platforms did not immediately respond to' request for comment.Shares of the company were up over 3% in Wednesday trading.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $630.23, Change: $+17.89, Percent Change: +2.92%

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Wire

Meta Platforms Stockholders Urged by JLens to Vote in Favor of Content Moderation Transparency Proposal

Meta Platforms (META) stockholders have been urged by registered investment advisor JLens to vote in favor of its proposal that seeks greater transparency for the company's content moderation practices, JLens said Tuesday.The proposal focuses on greater accountability for any proliferation of online hate on the company's platforms, according to a statement.JLens said that ineffective content moderation could drive away users to platforms with more robust guardrails, impacting Meta's engagement and revenue.Meta Platforms did not immediately respond to a request for comment from.Price: $609.01, Change: $-1.26, Percent Change: -0.21%

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Wire

Market Chatter: Meta Platforms Launches Forum App With AI Tools for Facebook Groups

Meta Platforms (META) has quietly launched a standalone app called "Forum" for Facebook Groups, positioning it as a dedicated space for deeper community discussions and engagement similar to Reddit, TechCrunch reported Friday.The app integrates users' existing Facebook Groups, profiles, and activity after login, allows posting under nicknames, and keeps shared content visible within Facebook Groups.Meta said Forum's feeds focus on ongoing group conversations rather than trending content and include an AI-powered "Ask" tab that summarizes answers from group discussions, along with an AI assistant for moderation and administrative support, TechCrunch added.Meta Platforms did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $609.67, Change: $+2.29, Percent Change: +0.38%

$META
Commodities

Enbridge to Build $1.2 Billion Wyoming Solar-Storage Project for Meta

Enbridge (ENB) and Meta Platforms (META) have expanded their renewable energy partnership with a solar and battery storage project in Wyoming to support the technology giant's growing US data center operations, the companies said on Tuesday.The first phase of the Cowboy Project, located near Cheyenne, Wyoming, deepens the energy partnership between Canada-based Enbridge and Meta Platforms, bringing their total contracted renewable energy capacity across North America to about 1.6 gigawatts.The project will combine 365 megawatts of solar generation with a 200-megawatt battery energy storage system capable of delivering 1.6 gigawatt-hours of electricity.Enbridge said it expects to invest about $1.2 billion in the project, which is scheduled to begin operations by the end of 2027.The battery storage component is designed to store electricity generated by the solar facility and discharge it during periods of high demand, helping improve grid reliability and supporting the integration of renewable power into the regional electricity system.Power from the project will be delivered to Meta through Cheyenne Light, Fuel and Power under Wyoming's Large Power Contract Service tariff, which is tailored for large energy users such as data centers without affecting retail customer electricity rates.Tesla (TSLA) will supply and service the battery systems under a long-term tolling agreement tied to the project.Meta said the project would help support reliable electricity supplies for its data center operations while adding renewable energy capacity to the grid.The Cowboy Project adds to Enbridge's existing renewable energy portfolio, supporting Meta, including the Clear Fork Solar, Easter Wind and Cone Wind projects in Texas.Price: $423.80, Change: $+5.95, Percent Change: +1.42%

$ENB$META$TSLA
Sectors

Sector Update: Tech Stocks Rise Late Afternoon

Tech stocks were higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) increasing 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.9%.The Philadelphia Semiconductor index was up 0.9%.In corporate news, Meta Platforms (META) reached an agreement with the Breathitt County School District to settle a lawsuit alleging that addiction to top social media platforms has upended learning and forced public schools to spend large amounts of resources fighting a mental health crisis, Bloomberg reported. A Meta spokesperson toldvia email that the company has resolved this case amicably. Meta shares rose 0.3%.Nvidia (NVDA) reported fiscal Q1 revenue above Wall Street's estimates as data center sales outperformed expectations amid an AI boom. Its shares still declined 1.5%.Intuit's (INTU) stock plunged 20%. The financial technology platform late Wednesday reported better-than-expected fiscal third-quarter results and disclosed plans to reduce its workforce by about 17%.SpaceX (SPCX) filed an S-1 registration statement with the Securities and Exchange Commission late Wednesday for an initial public offering. Separately, SpaceX entered into cloud-computing agreements to provide Amazon-backed (AMZN) Anthropic access to its server infrastructure, SpaceX said in a regulatory filing. Amazon shares rose 1.5%.

$AMZN$INTU$META$NVDA
Sectors

Sector Update: Tech

Tech stocks were higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) increasing 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.9%.The Philadelphia Semiconductor index was up 0.9%.In corporate news, Meta Platforms (META) reached an agreement with the Breathitt County School District to settle a lawsuit alleging that addiction to top social media platforms has upended learning and forced public schools to spend large amounts of resources fighting a mental health crisis, Bloomberg reported. A Meta spokesperson toldvia email that the company has resolved this case amicably. Meta shares rose 0.3%.

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Wire

Update: Market Chatter: Meta Settles School Suit Alleging Harmful Effects of Social Media Addiction

(Updates with Meta's response to a request for comment from.)Meta Platforms (META) reached an agreement with the Breathitt County School District to settle a lawsuit alleging that addiction to top social media platforms has upended learning and forced public schools to spend large amounts of resources fighting a mental health crisis, Bloomberg reported Thursday.Snap (SNAP), Alphabet's (GOOG, GOOGL) YouTube and TikTok settled with the school district a week ago, according to the report."We've resolved this case amicably and remain focused on our longstanding work to build protections like Teen Accounts that help teens stay safe online, while giving parents simple controls to support their families," a Meta spokesperson toldvia email.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $608.35, Change: $+3.29, Percent Change: +0.54%

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Wire

Market Chatter: Meta Settles School Suit Alleging Harmful Effects of Social Media Addiction

Meta Platforms (META) reached an agreement with the Breathitt County School District to settle a lawsuit alleging that addiction to top social media platforms has upended learning and forced public schools to spend large amounts of resources fighting a mental health crisis, Bloomberg reported Thursday.Snap (SNAP), Alphabet's (GOOG, GOOGL) YouTube and TikTok settled with the school district a week ago, according to the report.Meta didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $608.12, Change: $+3.06, Percent Change: +0.51%

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Wire

Meta Settles School Suit Alleging Harmful Effects of Social Media Addiction, Bloomberg Reports

Meta Settles School Suit Alleging Harmful Effects of Social Media Addiction, Bloomberg Reports

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