Author: therawinformant

Click here to read the full article. Multiple Facebook employees publicly criticized CEO Mark Zuckerberg's decision to not take down Donald Trump's racially charged post suggesting Minneapolis rioters would be shot at.Zuckerberg, in a post Friday on Facebook, said while Trump’s message included a “troubling historical reference” — specifically, the phrase "when the looting starts, the shooting starts" — and while Zuckerberg personally disagreed with the president's inflammatory rhetoric, Facebook decided to not remove it to "enable as much expression as possible."Over the weekend, Facebook staffers took to Twitter to voice disagreement with Zuckerberg, with some lauding Twitter's decision to add a warning label in front of Trump's tweet because it broke Twitter rules against glorifying violence."There isn't a neutral position on racism," Facebook design manager Jason Stirman said on Twitter. "I'm a FB employee that completely disagrees with Mark's decision to do nothing about Trump's recent posts, which clearly incite violence. I'm not alone inside of FB."“Mark is wrong, and I will endeavor in the loudest possible way to change his mind,” Ryan Freitas, director of product design for Facebook’s News Feed, wrote in a tweet. He said he "focused on organizing 50+ like-minded folks into something that looks like internal change."Trump’s “looting-shooting” comment "encourages extra-judicial violence and stokes racism. Respect to @Twitter’s integrity team for making the enforcement call," tweeted David Gillis, a Facebook director of product design. He added that "when we have to vigorously debate whether to make an exception to the way we interpret and enforce a given policy (as happened on Friday), this often indicates that said policy needs to evolve. I think that is the case here."And Jason Toff, a Facebook product management director, wrote: “I work at Facebook and I am not proud of how we’re showing up. The majority of coworkers I’ve spoken to feel the same way. We are making our voice heard.”"Disappointed that, again, I need to call this out: Trump's glorification of violence on Facebook is disgusting and it should absolutely be flagged or removed from our platforms," Brandon Dail, a user-interface engineer at Facebook, said. "I categorically disagree with any policy that does otherwise."Facebook representatives did not respond to requests for comment about employees speaking out against Zuckerberg.Meanwhile, on Friday, Trump called Zuckerberg, during which the Facebook chief "expressed concerns about the tone and the rhetoric" of the president's "looting and shooting" remark, Axios reported. Citing anonymous sources, the Axios report said that Zuckerberg, while he "didn't make any specific requests," told Trump he was "putting Facebook in a difficult position."Amid the nationwide protests and civil unrest over Floyd's murder and police brutality, Instagram said in a post early Monday that its parent company is committing $10 million toward "ending racial injustice." Facebook joins a chorus of other companies supporting the Black Lives Matter cause."Time and time again, we have seen that the Instagram community has the power to bring about meaningful change," the Instagram post said. "The more we ShareBlackStories, the more we raise voices that make a lasting impact. To continue that impact, @facebook is pledging $10 million to efforts committed to ending racial injustice. BlackLivesMatter.⁣"

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Nio Inc. – ADR (NYSE: NIO) Chief Executive Officer William Li on Sunday told Bloomberg that the Chinese electric vehicles maker sees rival Tesla Inc. (NASDAQ: TSLA) more as an ally than a competitor.What Happened "We do compete against each other, but in general we are allies," Li said, as reported by Bloomberg, pointing out that the two companies are working to grab the market from gasoline-based automakers rather than each other."In fact, our sales kept growing since Tesla started production in Shanghai," he added.Li's comments come days after Nio reported mixed earnings for the first quarter this year, as the COVID-19 pandemic took toll.It posted a loss per ADS of 22 cents, narrower than the analyst consensus of 26 cents, and highlighted enhanced cost control measures taken in the quarter.What's Next Li told Bloomberg that the long-term growth outlook for the electric vehicles market in China remains the same despite the temporary impact from the pandemic.Nio said in the earnings report that it expected both car sales and revenue in the second quarter to double year-on-year.According to Li, the company has "secured sufficient funding" for its development post the billion financial commitment received from a set of strategic investors back in April, Bloomberg reported.Li added that Nio doesn't have any concrete plans to list its shares in China, even as Chinese companies listed in the United States face increased scrutiny."This isn't a challenge for Nio only," Li said, as per Bloomberg. "We wouldn't exclude any potential options."Price Action Nio shares closed nearly 4% higher at $3.98 on Friday and were mostly unchanged in the after-hours session.Tesla shares closed 3.6% higher at $835 the same day and added another 1% in after-hours at $842.75.Image Credit: Courtesy of Nio.See more from Benzinga * Trump Sheltered In Underground Bunker As Protests Raged Outside The White House On Friday * House Republicans To Introduce Bill Banning Investments In China-Linked Foreign Defense Companies * Trump Had A 'Productive' Call With Facebook CEO Day After He Signed Executive Order Targeting Social Media: Report(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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We at Insider Monkey have gone over 821 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st, near the height of the coronavirus market crash. In this article, we look at what those funds think […]

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In this article we will take a look at whether hedge funds think Dell Technologies Inc. (NYSE:DELL) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips […]

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The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]

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In this article you are going to find out whether hedge funds think Akamai Technologies, Inc. (NASDAQ:AKAM) is a good investment right now. We like to check what the smart money thinks first before doing extensive research on a given stock. Although there have been several high profile failed hedge fund picks, the consensus picks […]

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Social game developer Zynga (ZNGA) has announced that it has entered into a definitive agreement to acquire Peak, one of the most globally successful mobile gaming companies, for $1.8 billion. Shares are rising 7% in Monday’s pre-market trading.Istanbul-based Peak brings two Forever Franchises to Zynga, Toon Blast and Toy Blast, that have consistently ranked in the top 10 and top 20 U.S. iPhone grossing games for over two years, respectively. Indeed, Peak is expected to grow Zynga’s average mobile DAUs by more than 60% while strengthening the company’s international audience.“Peak is one of the world’s best puzzle game makers and we could not be more excited… With the addition of Toon Blast and Toy Blast, we are expanding our live services portfolio to eight forever franchises, meaningfully increasing our global audience base and adding to our exciting new game pipeline” cheered Zynga CEO Frank Gibeau.Zynga will acquire 100% of Peak for $1.8 billion, with $900 million in cash and $900 million of Zynga common stock (issued at the volume-weighted average closing price per share over the thirty-day trading period ended May 29, 2020). The deal is expected to close in the third quarter of 2020.At the same time, based on strength across its live services portfolio, Zynga updated its Q2 and Full Year 2020 financial guidance (without including any contributions from Peak).The company now anticipates Q2 revenue of $430M vs. $400M previously, with bookings of $500M vs. $460M previously and $465M consensus. Adjusted EBITDA is now expected at $35M up from the prior guidance of $32M.Shares in Zynga have exploded by 49% year-to-date. As a result, the average analyst price target of $8 now indicates downside potential of 9%. Analysts have a cautiously optimistic Moderate Buy consensus on Zynga, with 9 recent buy ratings offset by two hold ratings and two sell ratings. (See ZNGA stock analysis on TipRanks).Related News: Google Mulling Purchase of Stake in Indian Vodafone Idea FB Holds ‘Productive’ Call With Trump, As Social Media War Rages On Microsoft Seeks $2B Stake In India’s Jio Platforms- Report More recent articles from Smarter Analyst: * Immutep Surges In Pre-Market On Positive Efti Cancer Data * Amazon’s Jeff Bezos Invests In UK Freight Startup Beacon * Google Delays Rollout Of Android Beta Version Amid U.S. Protests * Facebook Holds ‘Productive’ Call With Trump, As Social Media War Rages On

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(Bloomberg) — The oil market took an initially neutral view on OPEC+ deliberations that could result in the producer group announcing a short extension to unprecedented output curbs.Futures in New York were little changed near $35 a barrel, though they held onto sharp gains from shortly before Friday’s close. The Organization of Petroleum Exporting Countries and its allies are considering bringing their next meeting forward to Thursday, where they will discuss prolonging production curbs by one to three months, according to a delegate. The existing agreement calls for the output cuts to ease from July.See also: Could OPEC+ Become a Victim of Its Own Success?: Julian LeeUp to this point, the production curbs have been effective. Crude rallied almost 90% last month, a record gain, as reduced supply helped to offset the demand losses from the coronavirus outbreak. A key oil spread that helps dictate the flow of crude from regions including the North Sea and West Africa turned positive for the first time since March on Monday, the latest sign that crude’s recovery isn’t just financial-driven.“The prospect of OPEC+ advancing its meeting and agreeing an extension rather than tapering of the deeper cuts should support crude’s rally this week,” said Vandana Hari, founder of energy consultancy Vanda Insights.An earlier OPEC+ meeting would give the producer group more flexibility to change its current production limits as members usually decide their plans for shipping oil for July in the first week of June. The group’s preference is to take short-term measures on cuts as the situation is changing quickly, the delegate said. The coalition — which includes OPEC’s 13 members plus another 10 exporters — has achieved 92% compliance, according to an estimate by data analytics firm Kpler.Though crude has rallied their’s still evidence of a supply dip in the U.S. The number of rigs in the world’s largest producer nation dropped for an 11th consecutive week to the lowest since 2009, according to data from Baker Hughes. Still, there’s a risk that oil’s continued advance could tempt some producers to turn their taps back on again.Meanwhile, the U.S. Oil Fund ETF will begin its monthly roll of futures contracts on Monday. The fund plans to sell its July holdings and buy more November and January futures over the next 10 trading sessions.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk's partner, Grimes, has revealed the nickname for their infant named X Æ A-12.What Happened Grimes, whose given name is Claire Elise Boucher, told Bloomberg in a recently published art profile piece, that she calls their child by a simpler name.The singer said her nickname for baby X Æ A-12 is "Little X."Why It Matters X Æ A-12, born May 4, 2020, will be renamed X Æ A-Xii to comply with laws in California.The baby's name is pronounced "X Ash A 12" and is inspired by the Archangel-12 plane, the precursor to the SR-71 aircraft, which is a favorite of both Musk and Grimes.In a tweet, Grimes gave a detailed explanation of the meaning of the baby's name. Saying X is the unknown variable, Æ, my elven spelling of Ai (love &/or Artificial intelligence), "A-12 = precursor to SR-17 (our favorite aircraft). No weapons, no defenses, just speed. Great in battle, but non-violent." She said A is also a reference to "Archangel," her favorite song. Musk offered a correction to her tweet, pointing out the plane was actually SR-71.Musk and Grimes began dating in early 2018. Musk also has five sons with his ex-wife Justine Wilson.Tesla Price Action Tesla shares traded 0.93% higher at $842.75 in the after-hours session on Friday. The shares had closed the regular session 3.62% higher, at $835.Image Credit: Elon Musk's Twitter.See more from Benzinga * Apple CEO Writes To Employees About George Floyd Death, Urges For 'Better, More Just World For Everyone' * Twitter's Official Account Changes Color In Solidarity With Black Lives Matter Movement * Lear Corporation Workers Afraid To Work At Mexican Factory After It Suffered Reportedly The Worst Coronavirus Fatalities In The Americas(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Colleges across the country are grappling with the fallout from the coronavirus pandemic and declining state funding, but one author says elite universities are unlikely to change their admissions policies.

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