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Wire

Market Chatter: Meta Platforms Sued by California County Over Alleged Scam Ad Profits

Meta Platforms (META) is being sued by Santa Clara County, California, over allegations that it "knowingly facilitates and profits from billions of scam advertisements" on Facebook and Instagram, Bloomberg reported Monday.The complaint says Meta enables scam ads that target seniors and families and allegedly tracks such advertisements, and generates about $7 billion annually from these ads, the report said, citing Santa Clara County counsel Tony LoPresti, who filed the lawsuit.Meta did not immediately reply 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: $602.92, Change: $-6.71, Percent Change: -1.10%

$META
Wire

Meta Platforms Sued by California County Over Scam Ad Profits Allegations, Bloomberg Reports

Meta Platforms Sued by California County Over Scam Ad Profits Allegations, Bloomberg Reports

$META
Sectors

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 3.2% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 5.3%.The Philadelphia Semiconductor index rose 5.2%.In corporate news, Amazon-backed (AMZN) Anthropic has signed a $1.8 billion computing deal with Akamai Technologies (AKAM), a cloud services provider, to help meet surging demand for its AI software, Bloomberg reported. Akamai shares surged 26%, and Amazon added 0.8%.Apple (AAPL) and Intel (INTC) have reached a preliminary agreement under which Intel will make some of the chips powering Apple devices, The Wall Street Journal reported Friday. Apple shares rose 2.2%, and Intel jumped past 13%.Apple and Meta Platforms (META) have publicly opposed a Canadian bill that could require them to break the encryption of their devices and services, Reuters reported. Canada's ruling Liberal Party proposed Bill C-22, which law enforcement officials claim would help them probe security threats earlier and take immediate action, the report said. Meta was down 1.1%.Hedge fund TCI cut its stake in Microsoft (MSFT) to 1% of its portfolio at the end of March from 10% at the end of last year, the Financial Times reported. Microsoft shares shed 1.5%.

$AAPL$AKAM$AMZN$INTC$META$MSFT
Wire

Update: Market Chatter: Apple, Meta Oppose Canadian Bill on Weakening Encryption

(Updates with Meta's statement in the fourth and fifth paragraphs.)Apple (AAPL) and Meta Platforms (META) have opposed a Canadian bill that could require them to break the encryption of their devices and services, Reuters reported Thursday, citing company statements.Canada's ruling Liberal Party proposed Bill C-22, which law-enforcement officials say would help them probe security threats earlier and take immediate action, according to the report.End-to-end encryption means that only the users can access their data without the decryption key, and it is widely used in services like WhatsApp and iMessage, Reuters said."The technical community's consensus on this is clear: it is not possible to build backdoors to encrypted systems for law enforcement without creating vulnerabilities that will be exploited by malicious actors," Meta said Thursday in a statement.Meta wants the bill revised to drop third-party surveillance mandates, protect encryption by tightening the "systemic vulnerability" definition, and create a formal mechanism to contest problematic requests, according to the statement.Apple did not respond immediately 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: $293.43, Change: $+6.00, Percent Change: +2.09%

$AAPL$META
Sectors

Sector Update: Tech

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 3.2% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 5.3%.The Philadelphia Semiconductor index gained 5.2%.In corporate news, Apple (AAPL) and Meta Platforms (META) have publicly opposed a Canadian bill that could require them to break the encryption of their devices and services, Reuters reported. Canada's ruling Liberal Party proposed Bill C-22, which law enforcement officials claim would help them probe security threats earlier and take immediate action, the report said. Apple shares rose 2%, and Meta was down 1.1%.

$AAPL$META
Wire

Market Chatter: Apple, Meta Oppose Canadian Bill on Weakening Encryption

Apple (AAPL) and Meta Platforms (META) have publicly opposed a Canadian bill that could require them to break the encryption of their devices and services, Reuters reported Thursday, citing companies' statements.Canada's ruling Liberal Party proposed Bill C-22, which law enforcement officials claim would help them probe security threats earlier and take immediate action, according to the report.End-to-end encryption means that only the users can access their data without the decryption key, and it is widely used in services like WhatsApp and iMessage, Reuters said.Apple and Meta did not immediately respond to a request for comment by.(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: $292.46, Change: $+5.04, Percent Change: +1.75%

$AAPL$META
Sectors

Sector Update: Tech Stocks Decline Late Afternoon

Tech stocks were lower late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2%.The Philadelphia Semiconductor index dropped 3%.In corporate news, Snap's (SNAP) Q1 loss narrowed more than market expectations, although the social media company saw persistent headwinds in its North America advertising business and recorded up to $25 million impact from the Middle East conflict. Its shares fell 1.9%.Nvidia (NVDA) has started discussions with Japan's SoftBank, which is looking for help with its plan to develop and produce homegrown AI servers, Nikkei Asia reported Thursday. Nvidia shares were up 2.2%.Meta Platforms (META) has asked a Los Angeles judge to throw out a jury verdict that found the company liable for a woman's depression in a case over whether social media platforms were designed to be addictive for young users, according to a filing. Meta shares were up 0.5%.Datadog (DDOG) raised its full-year outlook on Thursday after the software maker posted Q1 results that topped Wall Street expectations. Its shares climbed 30%.

$DDOG$META$NVDA$SNAP
US Markets

April Layoff Announcements Rise Amid Tech Job Cuts

US job cuts increased in April to the third-highest total for the month since 2009 as technology companies continued to announce layoffs amid a shift toward artificial intelligence, Challenger Gray & Christmas said Thursday.Employers in the US announced 83,387 layoffs last month, up 38% from March, but down 21% year over year, according to the outplacement and executive coaching firm. The consensus was 70,000 job cuts in a Bloomberg-compiled survey.The technology sector led the workforce reductions for April, with 33,361 cuts, reflecting an annual increase of 33%."Technology companies continue to announce large-scale cuts and are leading all industries in layoff announcements," Andy Challenger, the firm's chief revenue officer, said in a statement. "They are also often citing AI spend and innovation. Regardless of whether individual jobs are being replaced by AI, the money for those roles is."Meta Platforms (META) announced plans to let 8,000 employees go and cancel 6,000 open roles in April, while Snap (SNAP) said it will lay off about 1,000 employees.So far this year, about 16% of total job cuts have been attributed to AI, up from 13% through March, according to Challenger Gray & Christmas.Employers announced a total of 300,749 job cuts for the first four months of the year, about half of those recorded in the same period last year, the firm said.The report comes a day before the April nonfarm payrolls report.Official data is expected to show Friday that the US economy added 65,000 nonfarm jobs in April, compared with a 178,000 increase reported for the previous month, according to a Bloomberg-compiled consensus. On Wednesday, ADP (ADP) said that employment in the US private sector grew at its fastest pace in more than a year.Separately, the seasonally adjusted number of initial jobless claims increased to 200,000 for the week ended May 2 from the previous week's upwardly revised level of 190,000, the Department of Labor reported Thursday. The consensus was for a 205,000 reading.For the week ended April 25, continuing claims fell by 10,000 to about 1.77 million, below Wall Street's estimate of 1.8 million.Price: $616.52, Change: $+3.63, Percent Change: +0.59%

$META$SNAP
Sectors

Sector Update: Tech Stocks Decline Thursday Afternoon

Tech stocks were lower Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 1.9%.The Philadelphia Semiconductor index dropped 2.9%.In corporate news, Snap's (SNAP) Q1 loss narrowed more than market expectations, although the social media company saw persistent headwinds in its North America advertising business and recorded up to $25 million impact from the Middle East conflict. Its shares fell 2.8%.Meta Platforms (META) has asked a Los Angeles judge to throw out a jury verdict that found the company liable for a woman's depression in a case over whether social media platforms were designed to be addictive for young users, according to a filing. Meta shares were up 0.4%.Datadog (DDOG) raised its full-year outlook on Thursday after the software maker posted Q1 results that topped Wall Street expectations. Its shares climbed 26%.

$DDOG$META$SNAP
Wire

DBS Bank Adjusts Price Target on Meta Platforms to $834 From $1,000

Meta Platforms Inc (META) has an average rating of buy and mean price target of $820, 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)Price: $623.72, Change: $+10.84, Percent Change: +1.77%

$META
Insider Trading

Meta Platforms Insider Sold Shares Worth $945,036, According to a Recent SEC Filing

Javier Olivan, Chief Operating Officer, on May 04, 2026, sold 1,555 shares in Meta Platforms (META) for $945,036. Following the Form 4 filing with the SEC, Olivan has control over a total of 110,967 Class A common shares of the company, with 7,779 shares held directly and 103,188 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1326801/000095010326006913/xslF345X05/ownership.xml

$META
US Markets

Corning to Expand Optical Connectivity Capacity Under Nvidia Deal

Specialty glass maker Corning (GLW) will boost its optical connectivity manufacturing capacity under a multiyear partnership with Nvidia (NVDA) to support artificial intelligence factory buildouts.The deal includes the construction of three new facilities in North Carolina and Texas, according to a joint statement released Wednesday. The expansion is expected to create more than 3,000 jobs.The partnership will boost Corning's optical connectivity manufacturing capacity in the US by 10 times and its domestic fiber production capacity by more than 50%.Shares of Corning surged 12% in Wednesday trade, while Nvidia was up 4.4%. Corning's share price has more than doubled year to date, while Nvidia is tracking 10% higher so far this year.Corning's expanded capacity will allow hyperscale data centers to deploy Nvidia-accelerated computing at scale, the companies said.Modern AI workloads require thousands of Nvidia's graphics processing units, and as AI factories grow larger, "optical connectivity becomes an important component of the AI infrastructure," according to the statement.Corning issued warrants to Nvidia, giving the chipmaker an option to buy up to 15 million shares of Corning at $180 per share, according to a filing from the specialty glass and fiber-optics maker. Nvidia also received a pre-funded warrant to purchase up to 3 million common shares for a total price of $500 million.The warrants are exercisable at any time, the filing showed.In January, Meta Platforms (META) and Corning announced an up to $6 billion deal to accelerate the buildout of US data centers.Corning is looking at building a $10 billion revenue stream by 2030, Chief Executive Wendell Weeks said in a separate statement on Wednesday.Price: $204.42, Change: $+7.92, Percent Change: +4.03%

$GLW$META$NVDA
Wire

Meta Platforms Faces Two Probes by Irish Regulator Regarding Facebook, Instagram Feeds

Meta Platforms (META) is facing two formal investigations by Coimisiun na Mean over its Facebook and Instagram services under the EU Digital Services Act, the Irish regulator said Tuesday.The probes will assess whether the platforms breached provisions of the DSA related to user choice and interface design, including whether so-called "dark patterns" may have limited users' ability to select content feeds not based on profiling.The investigations will examine whether users can easily access and modify their preferred "recommender systems" and whether the platforms' interfaces may mislead or manipulate users away from opting out of personalized feeds, the regulator said.Coimisiun na Mean said it is coordinating with the European Commission and other EU regulators on the matter. If violations are found, Meta could face fines of up to 6% of its turnover, according to the regulator.Meta did not immediately respond to' request for a comment.Price: $601.57, Change: $-8.89, Percent Change: -1.46%

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Wire

Street Color: Meta Platforms Facing Irish Regulator Investigation Under EU Digital Services Act

Street Color: Meta Platforms Facing Irish Regulator Investigation Under EU Digital Services Act

$META
Wire

Update: Meta Platforms Reportedly Sued Over Alleged Illegal Use of Copyrighted Content to Train AI

(Updates with Meta's comment in 3rd paragraph)Meta Platforms (META) is facing a class action lawsuit from a group of publishers on allegations that the company illegally used copyrighted content to train its artificial intelligence platform Llama, multiple news outlets reported Tuesday.The parties claim that Meta got access to books and journal articles from pirating websites and used these to train its large language models, according to reports."AI is powering transformative innovations, productivity and creativity for individuals and companies, and courts have rightly found that training AI on copyrighted material can qualify as fair use. We will fight this lawsuit aggressively," a Meta spokesperson said in an emailed statement to.The lawsuit was filed in Manhattan federal court by publishers Elsevier, Cengage Learning, Hachette, Macmillan, and McGraw Hill, as well as author Scott Turow, according to Reuters.Price: $600.96, Change: $-9.51, Percent Change: -1.56%

$META
Wire

Meta Platforms Reportedly Sued Over Alleged Illegal Use of Copyrighted Content to Train AI

Meta Platforms (META) is facing a class action lawsuit from a group of publishers on allegations that the company illegally used copyrighted content to train its artificial intelligence platform Llama, multiple news outlets reported Tuesday.The lawsuit was filed in Manhattan federal court by publishers Elsevier, Cengage Learning, Hachette, Macmillan, and McGraw Hill, as well as author Scott Turow, according to Reuters.The parties claim that Meta got access to books and journal articles from pirating websites and used these to train its large language models, according to reports.Meta did not immediately respond to' request for comment.Price: $602.63, Change: $-7.83, Percent Change: -1.28%

$META
Asia Markets

US Equity Indexes Scale New Peaks This Week Amid Lift From Mega-Cap Earnings, Crude Oil

US equity indexes jumped this week as communications services and energy topped sector charts in a broad-based rally, reflecting the positive impact of mega-cap earnings and crude oil.* The S&P 500 closed at 7,230.12 on Friday versus 7,153.06 a week ago. The Nasdaq Composite stood at about 25,114.44, compared with 24,774.11 a week earlier. The Dow Jones Industrial Average ended at 49,499.27, versus 49,153.47 at the end of last week.* All but one sector, basic materials, rose this week. The top five sectors included financials, consumer defensive, and real estate, which shows a broadening of leadership to value-oriented areas.* Three Magnificent-7 stocks ended the week lower -- Meta Platforms (META), Nvidia (NVDA), and Microsoft (MSFT), according to data compiled by Finviz. Of the remaining four mega-caps, Alphabet (GOOG, GOOGL) led the pack with a gain of almost 12%. Except for Nvidia, all Mag-7 companies have so far reported quarterly results, with four of the six firms trading higher this week.* Among companies with a market capitalization of more than $200 billion, the top gainer was Intel (INTC), whose strong quarterly results translated into a weekly gain of almost 21%.* Brent crude oil futures soared to a four-year high this week before retreating, and West Texas Intermediate futures remained above the psychologically important $100 mark.* On Friday, Iran handed Washington a new proposal for ending the war, offering hints of compromise, The Wall Street Journal reported. The two sides remain far apart, however, on substantive issues of reopening the Strait of Hormuz and Iran's nuclear program, people familiar with the matter told the WSJ.* "They want to make a deal but I'm not satisfied with it," Trump told reporters at the White House Friday, according to Bloomberg. "We just had a conversation with Iran. Let's see what happens. But I would say that I am not happy."

Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$INTC$META$MSFT$NVDA
Sectors

Sector Update: Tech Stocks Gain Friday Afternoon

Tech stocks were higher Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1%.The Philadelphia Semiconductor index increased 0.6%.In corporate news, Apple (AAPL) jumped 4% after the company overnight reported a year-over-year surge in fiscal Q2 earnings and revenue. Apple's board also raised its quarterly dividend and approved an additional share buyback program of up to $100 billion.Reddit (RDDT) shares surged 14% after it provided an upbeat revenue outlook at the midpoint for Q2 on the back of stronger-than-expected results in the previous three-month period.Meta Platforms (META) has acquired Assured Robot Intelligence, a startup that develops AI models for robots, as part of its effort to create humanoid technology, Bloomberg reported. Meta shares were up 0.4%.

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Wire

Market Chatter: Meta Acquires Assured Robot Intelligence as Part of Humanoid Initiative

Meta Platforms (META) has acquired Assured Robot Intelligence, a startup that develops artificial intelligence models for robots, as part of its effort to create humanoid technology, Bloomberg reported Friday, citing a company spokesperson.Meta closed the deal Friday, though financial terms were not disclosed, the report said, citing the spokesperson.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: $614.91, Change: $+3.00, Percent Change: +0.49%

$META
Wire

Meta Acquires Assured Robot Intelligence Startup, Bloomberg Reports

Meta Acquires Assured Robot Intelligence Startup, Bloomberg Reports

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