[ad_1]
CITY OF MEXICO – Facebook actions could have the worst day of its history this Thursday.
Social network titles fell 19% in the opening, after that on the eve of Mark Zuckerberg's company reported that its sales growth would slow over the next few quarters while he adjusts his strategy to focus on privacy.
The securities are sold this morning at $ 176.70
The fall of the New York Stock Exchange removes nearly 120,000 million from the market value of the company, and represents one of the bigger losses for a company. The CEO's net worth, Mark Zuckerberg, has dropped more than $ 11 billion, according to Forbes, who tracks the portfolios of billionaires.
On Wednesday, in operations after hours, social network papers dropped by 23.50%.
The worst previous performance the company recorded was on July 27, 2012, when the stock fell 11.7% Facebook newspapers collapsed that day after the company did not succeed to convince investors that she could sell mobile advertising. This division now accounts for 91% of the company's advertising revenue.
David Wehner, Facebook's chief financial officer, said during a conference call with investors that Facebook "puts privacy first" after the Cambridge Analytica scandal that triggered a horrific wave of regulators in the whole world.
Read: Facebook violates the expectations of active users .
As an example of his new strategy, Wehner said that Facebook will put more effort into developing the functionality of "Stories" than the social network has. The above will put a burden on sales because Facebook earns more money in its News Feed main than its other products.
Facebook also announced that it would spend a lot of money to achieve its goals because Wehner said the company will invest billions of dollars a year to improve security after a period of headlines on the role Facebook by allowing fake news and electoral interference.
"We think this is the right thing to do for the company," he said.
Markets
Hit by the fall of Facebook shares, the Nasdaq Composite Index lost 1.06% to settle at 7,851 units, the S & P 500 fell 0.24% to 2,839 full and Dow Jones gaining 0.62% to 25,572 units After the news that the European Union and the United States have agreed to start trade negotiations.
In Mexico, the Mexican Stock Exchange (BMV) rises by the shares of giant Cemex, which rose after earlier reported a higher than expected profit in the second quarter .
The price and price index, which includes the 35 most liquid issuers on the market, increases by 0.71% to 49,955 units.
Cement shares lead gains with 3.48% to 13.69 pesos.
The Institutional Securities Exchange (BIVA) continues its second day of gains with 0.57% to 1,009
Oil
Petroprecios up this Thursday after Saudi Arabia has suspended oil deliveries across a strait in the Red Sea in response to an attack on two of the country's oil companies.
West Texas Intermediate (WTI) futures for delivery in September earn 0.38% to 69.56 US dollars per barrel (dbp) while Brent North Sea gains 0.34% to 74, 18 dpb, according to Bloomberg .
Saudi Arabia, the world's largest oil exporter, said Thursday that it will "temporarily suspend" crude oil shipments across the Bab al-Mandeb sea lane, in the Red Sea, to following an attack launched by the Yemen houthi movement, aligned with Iran.
[ad_2]
Source link
