*Nvidia higher on reports it will unveil new AI chips for China following US export restrictions*
Nvidia NVDA shares edged higher Thursday following reports that the tech group is ready to unveil a new series of AI chips, designed for customers in China, that will comply with new exports rules imposed by the U.S. government. The Financial Times reported that Nvidia may announce the release of the new chips, called HGX H20, L20 PCIe and L2 PCIe, as early as next week, following the acceleration of restrictions on high-tech exports by U.S. companies to China-based customers unveiled last month by Trade Secretary Gina Raimondo. China's Star Market Daily, a media group tied to the state-backed STAR Market, China's equivalent to the Nasdaq, also reported Nvidia's chip plans. The new restrictions, which expand upon new export rules put in place last year, are designed to limit China's access to "advanced semiconductors that could fuel breakthroughs in artificial intelligence and sophisticated computers that are critical to (Chinese) military applications," Raimondo said. The rules also address a loophole in the previous restrictions, which allowed Nvidia to sell its A800 and H800 semiconductors, by focusing on overall performance as opposed to the computing power of individual chips. Nvidia CEO Jensen Huang told the FT last spring that the U.S. risked "enormous damage" to its tech sector as a result of tighter China restrictions, saying the new rules would βcut the Chips Act off at the kneeβ. "If China canβt buy from the United States, theyβll just build it themselves," Huang told the paper. "So the US has to be careful. China is a very important market for the technology industry.β Nvidia noted in a Securities and Exchange Commission filing in October, however, that "given the demand worldwide for our products, we donβt expect a near-term meaningful impact on our financial results" as a result of the new U.S. restrictions. Nvidia shares were marked 1.2% higher in pre-market trading to indicate an opening bell price of $471.29 each.Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
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Nvidia NVDA shares edged higher Thursday following reports that the tech group is ready to unveil a new series of AI chips, designed for customers in China, that will comply with new exports rules imposed by the U.S. government. The Financial Times reported that Nvidia may announce the release of the new chips, called HGX H20, L20 PCIe and L2 PCIe, as early as next week, following the acceleration of restrictions on high-tech exports by U.S. companies to China-based customers unveiled last month by Trade Secretary Gina Raimondo. China's Star Market Daily, a media group tied to the state-backed STAR Market, China's equivalent to the Nasdaq, also reported Nvidia's chip plans. The new restrictions, which expand upon new export rules put in place last year, are designed to limit China's access to "advanced semiconductors that could fuel breakthroughs in artificial intelligence and sophisticated computers that are critical to (Chinese) military applications," Raimondo said. The rules also address a loophole in the previous restrictions, which allowed Nvidia to sell its A800 and H800 semiconductors, by focusing on overall performance as opposed to the computing power of individual chips. Nvidia CEO Jensen Huang told the FT last spring that the U.S. risked "enormous damage" to its tech sector as a result of tighter China restrictions, saying the new rules would βcut the Chips Act off at the kneeβ. "If China canβt buy from the United States, theyβll just build it themselves," Huang told the paper. "So the US has to be careful. China is a very important market for the technology industry.β Nvidia noted in a Securities and Exchange Commission filing in October, however, that "given the demand worldwide for our products, we donβt expect a near-term meaningful impact on our financial results" as a result of the new U.S. restrictions. Nvidia shares were marked 1.2% higher in pre-market trading to indicate an opening bell price of $471.29 each.Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
[Read more...](https://www.thestreet.com/investing/stocks/nvidia-higher-on-reports-it-will-unveil-new-ai-chips-for-sale-in-china)
TheStreet
Nvidia higher on reports it will unveil new AI chips for China following US export restrictions
Media reports suggest that next week Nvidia will announce a new suite of AI chips that will bypass restrictions place on China-bound exports.
Nvidia higher on reports it will unveil new AI chips for China following US export restrictions
Nvidia NVDA shares edged higher Thursday following reports that the tech group is ready to unveil a new series of AI chips, designed for customers in China, that will comply with new exports rules imposed by the U.S. government. The Financial Times reported that Nvidia may announce the release of the new chips, called HGX H20, L20 PCIe and L2 PCIe, as early as next week, following the acceleration of restrictions on high-tech exports by U.S. companies to China-based customers unveiled last month by Trade Secretary Gina Raimondo. China's Star Market Daily, a media group tied to the state-backed STAR Market, China's equivalent to the Nasdaq, also reported Nvidia's chip plans. The new restrictions, which expand upon new export rules put in place last year, are designed to limit China's access to "advanced semiconductors that could fuel breakthroughs in artificial intelligence and sophisticated computers that are critical to (Chinese) military applications," Raimondo said. The rules also address a loophole in the previous restrictions, which allowed Nvidia to sell its A800 and H800 semiconductors, by focusing on overall performance as opposed to the computing power of individual chips. Nvidia CEO Jensen Huang told the FT last spring that the U.S. risked "enormous damage" to its tech sector as a result of tighter China restrictions, saying the new rules would βcut the Chips Act off at the kneeβ. "If China canβt buy from the United States, theyβll just build it themselves," Huang told the paper. "So the US has to be careful. China is a very important market for the technology industry.β Nvidia noted in a Securities and Exchange Commission filing in October, however, that "given the demand worldwide for our products, we donβt expect a near-term meaningful impact on our financial results" as a result of the new U.S. restrictions. Nvidia shares were marked 1.2% higher in pre-market trading to indicate an opening bell price of $471.29 each.Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
Read more...
Nvidia NVDA shares edged higher Thursday following reports that the tech group is ready to unveil a new series of AI chips, designed for customers in China, that will comply with new exports rules imposed by the U.S. government. The Financial Times reported that Nvidia may announce the release of the new chips, called HGX H20, L20 PCIe and L2 PCIe, as early as next week, following the acceleration of restrictions on high-tech exports by U.S. companies to China-based customers unveiled last month by Trade Secretary Gina Raimondo. China's Star Market Daily, a media group tied to the state-backed STAR Market, China's equivalent to the Nasdaq, also reported Nvidia's chip plans. The new restrictions, which expand upon new export rules put in place last year, are designed to limit China's access to "advanced semiconductors that could fuel breakthroughs in artificial intelligence and sophisticated computers that are critical to (Chinese) military applications," Raimondo said. The rules also address a loophole in the previous restrictions, which allowed Nvidia to sell its A800 and H800 semiconductors, by focusing on overall performance as opposed to the computing power of individual chips. Nvidia CEO Jensen Huang told the FT last spring that the U.S. risked "enormous damage" to its tech sector as a result of tighter China restrictions, saying the new rules would βcut the Chips Act off at the kneeβ. "If China canβt buy from the United States, theyβll just build it themselves," Huang told the paper. "So the US has to be careful. China is a very important market for the technology industry.β Nvidia noted in a Securities and Exchange Commission filing in October, however, that "given the demand worldwide for our products, we donβt expect a near-term meaningful impact on our financial results" as a result of the new U.S. restrictions. Nvidia shares were marked 1.2% higher in pre-market trading to indicate an opening bell price of $471.29 each.Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
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TheStreet
Nvidia higher on reports it will unveil new AI chips for China following US export restrictions
Media reports suggest that next week Nvidia will announce a new suite of AI chips that will bypass restrictions place on China-bound exports.
*Π‘ΠΌΠ°ΡΡΡΠΎΠ½Ρ Samsung Π½Π°ΡΡΠ°ΡΡΡ ΠΏΠ΅ΡΠ΅Π²ΠΎΠ΄ΠΈΡΡ Π·Π²ΠΎΠ½ΠΊΠΈ Π² ΡΠ΅Π°Π»ΡΠ½ΠΎΠΌ Π²ΡΠ΅ΠΌΠ΅Π½ΠΈ*
Π―Π·ΡΠΊΠΎΠ²ΠΎΠΉ Π±Π°ΡΡΠ΅Ρ ΠΎΡΡΠ°Π½Π΅ΡΡΡ Π² ΠΏΡΠΎΡΠ»ΠΎΠΌ.
[Read more...](https://lifehacker.ru/v-samsung-poyavitsya-ii-perevodchik/)
Π―Π·ΡΠΊΠΎΠ²ΠΎΠΉ Π±Π°ΡΡΠ΅Ρ ΠΎΡΡΠ°Π½Π΅ΡΡΡ Π² ΠΏΡΠΎΡΠ»ΠΎΠΌ.
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*Π§ΡΠΎ ΠΌΠ΅ΡΠ°Π΅Ρ ΠΏΠ°ΡΠ΅ Π±ΡΡΡ ΡΡΠ°ΡΡΠ»ΠΈΠ²ΠΎΠΉ: ΡΠ°ΡΡΠΊΠ°Π·ΡΠ²Π°Π΅Ρ ΠΏΡΠΈΡ
ΠΎΠ»ΠΎΠ³ ΠΠ»Π΅ΠΊΡΠ°Π½Π΄Ρ ΠΠΎΠ»ΠΌΠ°Π½ΠΎΠ²ΡΠΊΠΈΠΉ*
Π§Π°ΡΡΠΎ ΠΏΠ°ΡΡΠ½ΡΡΡ Π½Π΅ ΠΆΠ΅Π»Π°ΡΡ ΠΈΠ΄ΡΠΈ Π΄ΡΡΠ³ Π΄ΡΡΠ³Ρ Π½Π°Π²ΡΡΡΠ΅ΡΡ Π±Π΅Π· ΠΎΠΏΡΠ΅Π΄Π΅Π»ΡΠ½Π½ΡΡ Π³Π°ΡΠ°Π½ΡΠΈΠΉ. Π Π·ΡΡ.
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Π§Π°ΡΡΠΎ ΠΏΠ°ΡΡΠ½ΡΡΡ Π½Π΅ ΠΆΠ΅Π»Π°ΡΡ ΠΈΠ΄ΡΠΈ Π΄ΡΡΠ³ Π΄ΡΡΠ³Ρ Π½Π°Π²ΡΡΡΠ΅ΡΡ Π±Π΅Π· ΠΎΠΏΡΠ΅Π΄Π΅Π»ΡΠ½Π½ΡΡ Π³Π°ΡΠ°Π½ΡΠΈΠΉ. Π Π·ΡΡ.
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*Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ*
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Forma-Odezhda
Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ - ΠΌΠ°Π³Π°Π·ΠΈΠ½ ΡΠΎΡΠΌΠ΅Π½Π½ΠΎΠΉ ΠΎΠ΄Π΅ΠΆΠ΄Ρ ΠΏΠΎΠ»ΠΈΡΠΈΠΈ, ΠΠ§Π‘, ΠΠΠ
ΠΠΎΠ΅Π½ΡΠΎΡΠ³ Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ - ΡΡΡΠ°Π²Π½Π°Ρ ΡΠΎΡΠΌΠ°, ΠΊΠ°ΠΌΡΡΠ»ΡΠΆ, Π²ΠΎΠ΅Π½Π½Π°Ρ ΠΎΠ΄Π΅ΠΆΠ΄Π°, Π²ΠΎΠ΅Π½ΡΠΎΡΠ³ΠΈ ΠΌΠΎΡΠΊΠ²Ρ, Π°ΡΠΌΠ΅ΠΉΡΠΊΠΈΠΉ ΠΌΠ°Π³Π°Π·ΠΈΠ½, Π²ΠΎΠ΅Π½Π½ΡΠΉ ΠΌΠ°Π³Π°Π·ΠΈΠ½, ΡΠΎΡΠΌΠ° ΠΏΠΎΠ»ΠΈΡΠΈΠΈ, ΡΠΎΡΠΌΠ° ΠΠ§Π‘
Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ
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Forma-Odezhda
Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ - ΠΌΠ°Π³Π°Π·ΠΈΠ½ ΡΠΎΡΠΌΠ΅Π½Π½ΠΎΠΉ ΠΎΠ΄Π΅ΠΆΠ΄Ρ ΠΏΠΎΠ»ΠΈΡΠΈΠΈ, ΠΠ§Π‘, ΠΠΠ
ΠΠΎΠ΅Π½ΡΠΎΡΠ³ Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ - ΡΡΡΠ°Π²Π½Π°Ρ ΡΠΎΡΠΌΠ°, ΠΊΠ°ΠΌΡΡΠ»ΡΠΆ, Π²ΠΎΠ΅Π½Π½Π°Ρ ΠΎΠ΄Π΅ΠΆΠ΄Π°, Π²ΠΎΠ΅Π½ΡΠΎΡΠ³ΠΈ ΠΌΠΎΡΠΊΠ²Ρ, Π°ΡΠΌΠ΅ΠΉΡΠΊΠΈΠΉ ΠΌΠ°Π³Π°Π·ΠΈΠ½, Π²ΠΎΠ΅Π½Π½ΡΠΉ ΠΌΠ°Π³Π°Π·ΠΈΠ½, ΡΠΎΡΠΌΠ° ΠΏΠΎΠ»ΠΈΡΠΈΠΈ, ΡΠΎΡΠΌΠ° ΠΠ§Π‘
*ΠΠΈΠ΄Ρ ΠΈ ΡΠΎΠ΄Π° Π²ΠΎΠΉΡΠΊ ΠΠ‘*
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Forma-Odezhda
ΠΠΈΠ΄Ρ ΠΈ ΡΠΎΠ΄Π° Π²ΠΎΠΉΡΠΊ ΠΠ‘ Π Π€
Π£Π·Π½Π°ΠΉΡΠ΅ ΠΎ ΠΠΈΠ΄Ρ ΠΈ ΡΠΎΠ΄Π° Π²ΠΎΠΉΡΠΊ ΠΠ‘ Π Π€ Π² ΡΠ½ΡΠΈΠΊΠ»ΠΎΠΏΠ΅Π΄ΠΈΠΈ ΠΌΠ°Π³Π°Π·ΠΈΠ½Π° Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ.
ΠΠΈΠ΄Ρ ΠΈ ΡΠΎΠ΄Π° Π²ΠΎΠΉΡΠΊ ΠΠ‘
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Forma-Odezhda
ΠΠΈΠ΄Ρ ΠΈ ΡΠΎΠ΄Π° Π²ΠΎΠΉΡΠΊ ΠΠ‘ Π Π€
Π£Π·Π½Π°ΠΉΡΠ΅ ΠΎ ΠΠΈΠ΄Ρ ΠΈ ΡΠΎΠ΄Π° Π²ΠΎΠΉΡΠΊ ΠΠ‘ Π Π€ Π² ΡΠ½ΡΠΈΠΊΠ»ΠΎΠΏΠ΅Π΄ΠΈΠΈ ΠΌΠ°Π³Π°Π·ΠΈΠ½Π° Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ.
*Disney stock leaps on dividend hopes as earnings, cash flow forecast impress*
Updated at 9:40 am EST Walt Disney DIS shares powered higher Thursday after the media and entertainment giant posted mixed fourth-quarter earnings but forecast significant cash flow gains, alongside deeper cost cuts, that could restore the group's dividend over the coming year. Bob Iger, who returned as interim CEO in November of last year, has put reinstating Disney's quarterly dividend at the top of his list of priorities as he seeks to inject new life into its sprawling empire of studios, streaming, sports, theme parks and cruises. Disney stopped paying its regularly quarterly dividend, last pegged at 88 cents a share, during the peak of the covid pandemic in May 2020. "As I reflect on our achievement this past year, I'm mindful of the fact that a lot of time and effort was spent on fixing, both contending with certain decisions made in the recent past and addressing the numerous challenges brought on by disruption and the pandemic," Iger told investors on a conference call late Wednesday. "And while we still have work to do to continue improving results, our progress has allowed us to move beyond this period of fixing and begin building our businesses again," he added. A large part of his turnaround effort was evident in last night's earnings report, which for the first time broke down the group's profits into three major segments, with the ESPN-lead sports division reporting as a stand-alone division. Sports-focused profits for the fiscal fourth quarter were up 14% from the year-earlier period to $981 million, topping Wall Street forecasts of around $862 million. Revenue was pegged at $3.91 billion. At a headline level, Disney generated just under $3 billion in operating profit for the three months ended in September as overall revenue rose 5.4% from a year earlier to $21.35 billion.Disney will speed up cost-cut program Disney also said it would accelerate its cost-cutting program by around $2 billion, taking it to $7.5 billion a year, and lower its content spending by around $2 billion. Collectively, Disney said that would help it grow free cash flow "significantly," later adding it saw that total at around $8 billion. "This continued robust free cash flow growth, alongside our strong balance sheet, will position us well to address our investments and shareholder return goals for the year and going forward," said interim Chief Financial Officer Kevin Lansberry. "To that end, we will be recommending to the board that they declare a dividend by the end of this calendar year." "While this will be just the starting point, we do see ample opportunity to continue to increase shareholder returns in the future as our earnings and free cash flow grow in the form of increased dividends or share buybacks and we look forward to sharing more as we move ahead," he added. Disney shares, a Dow component, were marked 6.25% higher in early Thursday trading to change hands at $89.78 each, a move that would nudge the stock into positive territory for the year. Overall Disney+ paid subscribers rose by 7 million from the previous quarter, the company said, doubling Wall Street forecasts, while Hotstar subs fell by around 4 million to 37.6 million, putting the overall total at 150.2 million. Streaming-division losses were pegged at $387 million, narrowed from around $1.5 billion in the year-earlier period and the $512 million loss pegged over the previous quarter. Experiences profit rose 31% from a year earlier to $1.8 billion, topping Wall Street forecasts, thanks to solid gains from international theme parks such as Hong Kong. The Entertainment division swung to a $236 million profit from a loss of $608 million a year earlier.Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
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Updated at 9:40 am EST Walt Disney DIS shares powered higher Thursday after the media and entertainment giant posted mixed fourth-quarter earnings but forecast significant cash flow gains, alongside deeper cost cuts, that could restore the group's dividend over the coming year. Bob Iger, who returned as interim CEO in November of last year, has put reinstating Disney's quarterly dividend at the top of his list of priorities as he seeks to inject new life into its sprawling empire of studios, streaming, sports, theme parks and cruises. Disney stopped paying its regularly quarterly dividend, last pegged at 88 cents a share, during the peak of the covid pandemic in May 2020. "As I reflect on our achievement this past year, I'm mindful of the fact that a lot of time and effort was spent on fixing, both contending with certain decisions made in the recent past and addressing the numerous challenges brought on by disruption and the pandemic," Iger told investors on a conference call late Wednesday. "And while we still have work to do to continue improving results, our progress has allowed us to move beyond this period of fixing and begin building our businesses again," he added. A large part of his turnaround effort was evident in last night's earnings report, which for the first time broke down the group's profits into three major segments, with the ESPN-lead sports division reporting as a stand-alone division. Sports-focused profits for the fiscal fourth quarter were up 14% from the year-earlier period to $981 million, topping Wall Street forecasts of around $862 million. Revenue was pegged at $3.91 billion. At a headline level, Disney generated just under $3 billion in operating profit for the three months ended in September as overall revenue rose 5.4% from a year earlier to $21.35 billion.Disney will speed up cost-cut program Disney also said it would accelerate its cost-cutting program by around $2 billion, taking it to $7.5 billion a year, and lower its content spending by around $2 billion. Collectively, Disney said that would help it grow free cash flow "significantly," later adding it saw that total at around $8 billion. "This continued robust free cash flow growth, alongside our strong balance sheet, will position us well to address our investments and shareholder return goals for the year and going forward," said interim Chief Financial Officer Kevin Lansberry. "To that end, we will be recommending to the board that they declare a dividend by the end of this calendar year." "While this will be just the starting point, we do see ample opportunity to continue to increase shareholder returns in the future as our earnings and free cash flow grow in the form of increased dividends or share buybacks and we look forward to sharing more as we move ahead," he added. Disney shares, a Dow component, were marked 6.25% higher in early Thursday trading to change hands at $89.78 each, a move that would nudge the stock into positive territory for the year. Overall Disney+ paid subscribers rose by 7 million from the previous quarter, the company said, doubling Wall Street forecasts, while Hotstar subs fell by around 4 million to 37.6 million, putting the overall total at 150.2 million. Streaming-division losses were pegged at $387 million, narrowed from around $1.5 billion in the year-earlier period and the $512 million loss pegged over the previous quarter. Experiences profit rose 31% from a year earlier to $1.8 billion, topping Wall Street forecasts, thanks to solid gains from international theme parks such as Hong Kong. The Entertainment division swung to a $236 million profit from a loss of $608 million a year earlier.Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
[Read more...](https://www.thestreet.com/investing/stocks/disney-leaps-as-earnings-impress-cash-flow-forecast-ignites-dividend-hopes)
TheStreet
Disney stock leaps as earnings impress, cash flow forecast ignites dividend hopes
Disney said it will seek board approval for a dividend, a key plank in CEO Bob Iger's turnaround plans, within the next year.
Disney stock leaps on dividend hopes as earnings, cash flow forecast impress
Updated at 9:40 am EST Walt Disney DIS shares powered higher Thursday after the media and entertainment giant posted mixed fourth-quarter earnings but forecast significant cash flow gains, alongside deeper cost cuts, that could restore the group's dividend over the coming year. Bob Iger, who returned as interim CEO in November of last year, has put reinstating Disney's quarterly dividend at the top of his list of priorities as he seeks to inject new life into its sprawling empire of studios, streaming, sports, theme parks and cruises. Disney stopped paying its regularly quarterly dividend, last pegged at 88 cents a share, during the peak of the covid pandemic in May 2020. "As I reflect on our achievement this past year, I'm mindful of the fact that a lot of time and effort was spent on fixing, both contending with certain decisions made in the recent past and addressing the numerous challenges brought on by disruption and the pandemic," Iger told investors on a conference call late Wednesday. "And while we still have work to do to continue improving results, our progress has allowed us to move beyond this period of fixing and begin building our businesses again," he added. A large part of his turnaround effort was evident in last night's earnings report, which for the first time broke down the group's profits into three major segments, with the ESPN-lead sports division reporting as a stand-alone division. Sports-focused profits for the fiscal fourth quarter were up 14% from the year-earlier period to $981 million, topping Wall Street forecasts of around $862 million. Revenue was pegged at $3.91 billion. At a headline level, Disney generated just under $3 billion in operating profit for the three months ended in September as overall revenue rose 5.4% from a year earlier to $21.35 billion.Disney will speed up cost-cut program Disney also said it would accelerate its cost-cutting program by around $2 billion, taking it to $7.5 billion a year, and lower its content spending by around $2 billion. Collectively, Disney said that would help it grow free cash flow "significantly," later adding it saw that total at around $8 billion. "This continued robust free cash flow growth, alongside our strong balance sheet, will position us well to address our investments and shareholder return goals for the year and going forward," said interim Chief Financial Officer Kevin Lansberry. "To that end, we will be recommending to the board that they declare a dividend by the end of this calendar year." "While this will be just the starting point, we do see ample opportunity to continue to increase shareholder returns in the future as our earnings and free cash flow grow in the form of increased dividends or share buybacks and we look forward to sharing more as we move ahead," he added. Disney shares, a Dow component, were marked 6.25% higher in early Thursday trading to change hands at $89.78 each, a move that would nudge the stock into positive territory for the year. Overall Disney+ paid subscribers rose by 7 million from the previous quarter, the company said, doubling Wall Street forecasts, while Hotstar subs fell by around 4 million to 37.6 million, putting the overall total at 150.2 million. Streaming-division losses were pegged at $387 million, narrowed from around $1.5 billion in the year-earlier period and the $512 million loss pegged over the previous quarter. Experiences profit rose 31% from a year earlier to $1.8 billion, topping Wall Street forecasts, thanks to solid gains from international theme parks such as Hong Kong. The Entertainment division swung to a $236 million profit from a loss of $608 million a year earlier.Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
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Updated at 9:40 am EST Walt Disney DIS shares powered higher Thursday after the media and entertainment giant posted mixed fourth-quarter earnings but forecast significant cash flow gains, alongside deeper cost cuts, that could restore the group's dividend over the coming year. Bob Iger, who returned as interim CEO in November of last year, has put reinstating Disney's quarterly dividend at the top of his list of priorities as he seeks to inject new life into its sprawling empire of studios, streaming, sports, theme parks and cruises. Disney stopped paying its regularly quarterly dividend, last pegged at 88 cents a share, during the peak of the covid pandemic in May 2020. "As I reflect on our achievement this past year, I'm mindful of the fact that a lot of time and effort was spent on fixing, both contending with certain decisions made in the recent past and addressing the numerous challenges brought on by disruption and the pandemic," Iger told investors on a conference call late Wednesday. "And while we still have work to do to continue improving results, our progress has allowed us to move beyond this period of fixing and begin building our businesses again," he added. A large part of his turnaround effort was evident in last night's earnings report, which for the first time broke down the group's profits into three major segments, with the ESPN-lead sports division reporting as a stand-alone division. Sports-focused profits for the fiscal fourth quarter were up 14% from the year-earlier period to $981 million, topping Wall Street forecasts of around $862 million. Revenue was pegged at $3.91 billion. At a headline level, Disney generated just under $3 billion in operating profit for the three months ended in September as overall revenue rose 5.4% from a year earlier to $21.35 billion.Disney will speed up cost-cut program Disney also said it would accelerate its cost-cutting program by around $2 billion, taking it to $7.5 billion a year, and lower its content spending by around $2 billion. Collectively, Disney said that would help it grow free cash flow "significantly," later adding it saw that total at around $8 billion. "This continued robust free cash flow growth, alongside our strong balance sheet, will position us well to address our investments and shareholder return goals for the year and going forward," said interim Chief Financial Officer Kevin Lansberry. "To that end, we will be recommending to the board that they declare a dividend by the end of this calendar year." "While this will be just the starting point, we do see ample opportunity to continue to increase shareholder returns in the future as our earnings and free cash flow grow in the form of increased dividends or share buybacks and we look forward to sharing more as we move ahead," he added. Disney shares, a Dow component, were marked 6.25% higher in early Thursday trading to change hands at $89.78 each, a move that would nudge the stock into positive territory for the year. Overall Disney+ paid subscribers rose by 7 million from the previous quarter, the company said, doubling Wall Street forecasts, while Hotstar subs fell by around 4 million to 37.6 million, putting the overall total at 150.2 million. Streaming-division losses were pegged at $387 million, narrowed from around $1.5 billion in the year-earlier period and the $512 million loss pegged over the previous quarter. Experiences profit rose 31% from a year earlier to $1.8 billion, topping Wall Street forecasts, thanks to solid gains from international theme parks such as Hong Kong. The Entertainment division swung to a $236 million profit from a loss of $608 million a year earlier.Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
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TheStreet
Disney stock leaps as earnings impress, cash flow forecast ignites dividend hopes
Disney said it will seek board approval for a dividend, a key plank in CEO Bob Iger's turnaround plans, within the next year.
*This Architectβs Massachusetts Rental Is Perfect "Lived-in Minimalism"*
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Forma-Odezhda
ΠΡΠΏΠΈΡΡ Π’ΠΎΠ²Π°ΡΡ Demar ΠΡΠΏΠΈΡΡ
ΠΡΠΏΠΈΡΡ Π’ΠΎΠ²Π°ΡΡ
ΠΡΡΠΎΡΠΈΡ ΠΏΠΎΠ»ΡΡΠΊΠΎΠΉ ΠΊΠΎΠΌΠΏΠ°Π½ΠΈΠΈ DEMAR Π½Π°ΡΠ°Π»Π°ΡΡ Π² 1978 Π³ΠΎΠ΄Ρ. ΠΡΠ΅Π΄ΠΏΡΠΈΡΡΠΈΠ΅ Π·Π°Π½ΠΈΠΌΠ°Π΅ΡΡΡ ΠΏΡΠΎΠΈΠ·Π²ΠΎΠ΄ΡΡΠ²ΠΎΠΌ Π΄Π΅ΡΡΠΊΠΎΠΉ ΠΈ Π²Π·ΡΠΎΡΠ»ΠΎΠΉ ΠΎΠ±ΡΠ²ΠΈ Π²ΡΡΠΎΠΊΠΎΠ³ΠΎ ΠΊΠ°ΡΠ΅ΡΡΠ²Π°. ΠΠΈΠ½Π°ΠΌΠΈΡΠ½ΠΎ ΡΠ°Π·Π²ΠΈΠ²Π°ΡΡΡ, ΠΊΠΎΠΌΠΏΠ°Π½ΠΈΡ ΠΏΠΎΠ»ΡΡΠΈΠ»Π° Π·Π°ΡΠ»ΡΠΆΠ΅Π½Π½ΠΎΠ΅ ΠΏΡΠΈΠ·Π½Π°Π½ΠΈΠ΅ ΠΈ ΠΏΠΎΡΡΠ΅Π±ΠΈΡΠ΅Π»ΡΡΠΊΠΈΠ΅ ΡΠΈΠΌΠΏΠ°ΡΠΈΠΈ Π½Π΅ ΡΠΎΠ»ΡΠΊΠΎ
ΠΡΡΠΎΡΠΈΡ ΠΏΠΎΠ»ΡΡΠΊΠΎΠΉ ΠΊΠΎΠΌΠΏΠ°Π½ΠΈΠΈ DEMAR Π½Π°ΡΠ°Π»Π°ΡΡ Π² 1978 Π³ΠΎΠ΄Ρ. ΠΡΠ΅Π΄ΠΏΡΠΈΡΡΠΈΠ΅ Π·Π°Π½ΠΈΠΌΠ°Π΅ΡΡΡ ΠΏΡΠΎΠΈΠ·Π²ΠΎΠ΄ΡΡΠ²ΠΎΠΌ Π΄Π΅ΡΡΠΊΠΎΠΉ ΠΈ Π²Π·ΡΠΎΡΠ»ΠΎΠΉ ΠΎΠ±ΡΠ²ΠΈ Π²ΡΡΠΎΠΊΠΎΠ³ΠΎ ΠΊΠ°ΡΠ΅ΡΡΠ²Π°. ΠΠΈΠ½Π°ΠΌΠΈΡΠ½ΠΎ ΡΠ°Π·Π²ΠΈΠ²Π°ΡΡΡ, ΠΊΠΎΠΌΠΏΠ°Π½ΠΈΡ ΠΏΠΎΠ»ΡΡΠΈΠ»Π° Π·Π°ΡΠ»ΡΠΆΠ΅Π½Π½ΠΎΠ΅ ΠΏΡΠΈΠ·Π½Π°Π½ΠΈΠ΅ ΠΈ ΠΏΠΎΡΡΠ΅Π±ΠΈΡΠ΅Π»ΡΡΠΊΠΈΠ΅ ΡΠΈΠΌΠΏΠ°ΡΠΈΠΈ Π½Π΅ ΡΠΎΠ»ΡΠΊΠΎ
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Forma-Odezhda
ΠΡΠΏΠΈΡΡ Π’ΠΎΠ²Π°ΡΡ Demar ΠΡΠΏΠΈΡΡ
ΠΡΠΏΠΈΡΡ Π’ΠΎΠ²Π°ΡΡ
ΠΡΡΠΎΡΠΈΡ ΠΏΠΎΠ»ΡΡΠΊΠΎΠΉ ΠΊΠΎΠΌΠΏΠ°Π½ΠΈΠΈ DEMAR Π½Π°ΡΠ°Π»Π°ΡΡ Π² 1978 Π³ΠΎΠ΄Ρ. ΠΡΠ΅Π΄ΠΏΡΠΈΡΡΠΈΠ΅ Π·Π°Π½ΠΈΠΌΠ°Π΅ΡΡΡ ΠΏΡΠΎΠΈΠ·Π²ΠΎΠ΄ΡΡΠ²ΠΎΠΌ Π΄Π΅ΡΡΠΊΠΎΠΉ ΠΈ Π²Π·ΡΠΎΡΠ»ΠΎΠΉ ΠΎΠ±ΡΠ²ΠΈ Π²ΡΡΠΎΠΊΠΎΠ³ΠΎ ΠΊΠ°ΡΠ΅ΡΡΠ²Π°. ΠΠΈΠ½Π°ΠΌΠΈΡΠ½ΠΎ ΡΠ°Π·Π²ΠΈΠ²Π°ΡΡΡ, ΠΊΠΎΠΌΠΏΠ°Π½ΠΈΡ ΠΏΠΎΠ»ΡΡΠΈΠ»Π° Π·Π°ΡΠ»ΡΠΆΠ΅Π½Π½ΠΎΠ΅ ΠΏΡΠΈΠ·Π½Π°Π½ΠΈΠ΅ ΠΈ ΠΏΠΎΡΡΠ΅Π±ΠΈΡΠ΅Π»ΡΡΠΊΠΈΠ΅ ΡΠΈΠΌΠΏΠ°ΡΠΈΠΈ Π½Π΅ ΡΠΎΠ»ΡΠΊΠΎ
ΠΡΡΠΎΡΠΈΡ ΠΏΠΎΠ»ΡΡΠΊΠΎΠΉ ΠΊΠΎΠΌΠΏΠ°Π½ΠΈΠΈ DEMAR Π½Π°ΡΠ°Π»Π°ΡΡ Π² 1978 Π³ΠΎΠ΄Ρ. ΠΡΠ΅Π΄ΠΏΡΠΈΡΡΠΈΠ΅ Π·Π°Π½ΠΈΠΌΠ°Π΅ΡΡΡ ΠΏΡΠΎΠΈΠ·Π²ΠΎΠ΄ΡΡΠ²ΠΎΠΌ Π΄Π΅ΡΡΠΊΠΎΠΉ ΠΈ Π²Π·ΡΠΎΡΠ»ΠΎΠΉ ΠΎΠ±ΡΠ²ΠΈ Π²ΡΡΠΎΠΊΠΎΠ³ΠΎ ΠΊΠ°ΡΠ΅ΡΡΠ²Π°. ΠΠΈΠ½Π°ΠΌΠΈΡΠ½ΠΎ ΡΠ°Π·Π²ΠΈΠ²Π°ΡΡΡ, ΠΊΠΎΠΌΠΏΠ°Π½ΠΈΡ ΠΏΠΎΠ»ΡΡΠΈΠ»Π° Π·Π°ΡΠ»ΡΠΆΠ΅Π½Π½ΠΎΠ΅ ΠΏΡΠΈΠ·Π½Π°Π½ΠΈΠ΅ ΠΈ ΠΏΠΎΡΡΠ΅Π±ΠΈΡΠ΅Π»ΡΡΠΊΠΈΠ΅ ΡΠΈΠΌΠΏΠ°ΡΠΈΠΈ Π½Π΅ ΡΠΎΠ»ΡΠΊΠΎ
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Π€ΠΎΡΠΌΠ΅Π½Π½Π°Ρ ΠΎΠ΄Π΅ΠΆΠ΄Π° ΠΠΠ‘
Π£Π·Π½Π°ΠΉΡΠ΅ ΠΎ Π€ΠΎΡΠΌΠ΅Π½Π½Π°Ρ ΠΎΠ΄Π΅ΠΆΠ΄Π° ΠΠΠ‘ Π² ΡΠ½ΡΠΈΠΊΠ»ΠΎΠΏΠ΅Π΄ΠΈΠΈ ΠΌΠ°Π³Π°Π·ΠΈΠ½Π° Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ.
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*Cathie Wood snaps up 1.1 million shares of Robinhood immediately after Q3 earnings*
After posting mixed third-quarter results Wednesday, retail investment platform Robinhood's stock fell by about 14%. The decline seems largely to do with the news that Robinhood's trading volumes and monthly active users fell for the quarter. Still, Robinhood HOOD beat Street expectations, posting a net loss of $85 million, or nine cents per share, compared to the net loss of 20 cents per share the company reported in the year-ago period. Despite the fact that Robinhood posted revenue of $467 million for the quarter, a 29% year-over-year increase, the number still came in below Street expectations of $480 million, a revenue miss that did not help investor sentiment. Related: Cathie Wood has a blunt warning about Tesla's stock over the coming months Net interest revenues, the company said, increased nearly 100% year-over-year, while transaction-based revenues fell by 11%. The firm's monthly active users fell more than 16% year-over-year to 10.3 million, but average revenue per user jumped by 27% to $80. βIt's been nearly 10 years since we founded Robinhood and we're just getting started," CEO Vlad Tenev said in a statement. βLooking ahead, we remain focused on providing industry-leading products that serve far more of customersβ financial needs, gaining market share, expanding internationally, and continuing to change the industry for the better.β Robinhood said that it will "soon launch" operations in the U.K.; soon after this global expansion, the company plans to launch crypto trading in the European Union. The heavy stock slide, to Cathie Wood of Ark Invest, represented little more than an opportunity to boost her holding in one of Ark's favorite companies. Ark Invest picked up a total of 1,141,046 shares of Robinhood Nov. 8, a purchase that was worth slightly less than $10 million based on its closing price of $8.37. The bulk of the purchase was made by Ark's flagship Innovation ETF, which snapped up 888,500 shares in the company; Ark's Next Generation Internet and Fintech ETFs acquired the remainder. The purchase boosted Ark Innovation's Robinhood holding above 21 million shares, worth more than $177 million and weighted at only 2.54% of the fund. The ETF is currently dominated by Ark's holdings in Coinbase COIN, Roku ROKU and Tesla TSLA. Shares of Robinhood, now up only 2.7% for the year, ticked up about 2% in pre-market trading. Related: Cathie Wood pulls $14 million out of soaring software giant Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
[Read more...](https://www.thestreet.com/investing/stocks/cathie-wood-ark-invest-robinhood-stocks)
After posting mixed third-quarter results Wednesday, retail investment platform Robinhood's stock fell by about 14%. The decline seems largely to do with the news that Robinhood's trading volumes and monthly active users fell for the quarter. Still, Robinhood HOOD beat Street expectations, posting a net loss of $85 million, or nine cents per share, compared to the net loss of 20 cents per share the company reported in the year-ago period. Despite the fact that Robinhood posted revenue of $467 million for the quarter, a 29% year-over-year increase, the number still came in below Street expectations of $480 million, a revenue miss that did not help investor sentiment. Related: Cathie Wood has a blunt warning about Tesla's stock over the coming months Net interest revenues, the company said, increased nearly 100% year-over-year, while transaction-based revenues fell by 11%. The firm's monthly active users fell more than 16% year-over-year to 10.3 million, but average revenue per user jumped by 27% to $80. βIt's been nearly 10 years since we founded Robinhood and we're just getting started," CEO Vlad Tenev said in a statement. βLooking ahead, we remain focused on providing industry-leading products that serve far more of customersβ financial needs, gaining market share, expanding internationally, and continuing to change the industry for the better.β Robinhood said that it will "soon launch" operations in the U.K.; soon after this global expansion, the company plans to launch crypto trading in the European Union. The heavy stock slide, to Cathie Wood of Ark Invest, represented little more than an opportunity to boost her holding in one of Ark's favorite companies. Ark Invest picked up a total of 1,141,046 shares of Robinhood Nov. 8, a purchase that was worth slightly less than $10 million based on its closing price of $8.37. The bulk of the purchase was made by Ark's flagship Innovation ETF, which snapped up 888,500 shares in the company; Ark's Next Generation Internet and Fintech ETFs acquired the remainder. The purchase boosted Ark Innovation's Robinhood holding above 21 million shares, worth more than $177 million and weighted at only 2.54% of the fund. The ETF is currently dominated by Ark's holdings in Coinbase COIN, Roku ROKU and Tesla TSLA. Shares of Robinhood, now up only 2.7% for the year, ticked up about 2% in pre-market trading. Related: Cathie Wood pulls $14 million out of soaring software giant Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
[Read more...](https://www.thestreet.com/investing/stocks/cathie-wood-ark-invest-robinhood-stocks)
TheStreet
Cathie Wood snaps up 1.1 million shares of popular tech stock immediately after weak Q3 earnings
The stock fell 14% in pre-market trading.
Cathie Wood snaps up 1.1 million shares of Robinhood immediately after Q3 earnings
After posting mixed third-quarter results Wednesday, retail investment platform Robinhood's stock fell by about 14%. The decline seems largely to do with the news that Robinhood's trading volumes and monthly active users fell for the quarter. Still, Robinhood HOOD beat Street expectations, posting a net loss of $85 million, or nine cents per share, compared to the net loss of 20 cents per share the company reported in the year-ago period. Despite the fact that Robinhood posted revenue of $467 million for the quarter, a 29% year-over-year increase, the number still came in below Street expectations of $480 million, a revenue miss that did not help investor sentiment. Related: Cathie Wood has a blunt warning about Tesla's stock over the coming months Net interest revenues, the company said, increased nearly 100% year-over-year, while transaction-based revenues fell by 11%. The firm's monthly active users fell more than 16% year-over-year to 10.3 million, but average revenue per user jumped by 27% to $80. βIt's been nearly 10 years since we founded Robinhood and we're just getting started," CEO Vlad Tenev said in a statement. βLooking ahead, we remain focused on providing industry-leading products that serve far more of customersβ financial needs, gaining market share, expanding internationally, and continuing to change the industry for the better.β Robinhood said that it will "soon launch" operations in the U.K.; soon after this global expansion, the company plans to launch crypto trading in the European Union. The heavy stock slide, to Cathie Wood of Ark Invest, represented little more than an opportunity to boost her holding in one of Ark's favorite companies. Ark Invest picked up a total of 1,141,046 shares of Robinhood Nov. 8, a purchase that was worth slightly less than $10 million based on its closing price of $8.37. The bulk of the purchase was made by Ark's flagship Innovation ETF, which snapped up 888,500 shares in the company; Ark's Next Generation Internet and Fintech ETFs acquired the remainder. The purchase boosted Ark Innovation's Robinhood holding above 21 million shares, worth more than $177 million and weighted at only 2.54% of the fund. The ETF is currently dominated by Ark's holdings in Coinbase COIN, Roku ROKU and Tesla TSLA. Shares of Robinhood, now up only 2.7% for the year, ticked up about 2% in pre-market trading. Related: Cathie Wood pulls $14 million out of soaring software giant Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
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After posting mixed third-quarter results Wednesday, retail investment platform Robinhood's stock fell by about 14%. The decline seems largely to do with the news that Robinhood's trading volumes and monthly active users fell for the quarter. Still, Robinhood HOOD beat Street expectations, posting a net loss of $85 million, or nine cents per share, compared to the net loss of 20 cents per share the company reported in the year-ago period. Despite the fact that Robinhood posted revenue of $467 million for the quarter, a 29% year-over-year increase, the number still came in below Street expectations of $480 million, a revenue miss that did not help investor sentiment. Related: Cathie Wood has a blunt warning about Tesla's stock over the coming months Net interest revenues, the company said, increased nearly 100% year-over-year, while transaction-based revenues fell by 11%. The firm's monthly active users fell more than 16% year-over-year to 10.3 million, but average revenue per user jumped by 27% to $80. βIt's been nearly 10 years since we founded Robinhood and we're just getting started," CEO Vlad Tenev said in a statement. βLooking ahead, we remain focused on providing industry-leading products that serve far more of customersβ financial needs, gaining market share, expanding internationally, and continuing to change the industry for the better.β Robinhood said that it will "soon launch" operations in the U.K.; soon after this global expansion, the company plans to launch crypto trading in the European Union. The heavy stock slide, to Cathie Wood of Ark Invest, represented little more than an opportunity to boost her holding in one of Ark's favorite companies. Ark Invest picked up a total of 1,141,046 shares of Robinhood Nov. 8, a purchase that was worth slightly less than $10 million based on its closing price of $8.37. The bulk of the purchase was made by Ark's flagship Innovation ETF, which snapped up 888,500 shares in the company; Ark's Next Generation Internet and Fintech ETFs acquired the remainder. The purchase boosted Ark Innovation's Robinhood holding above 21 million shares, worth more than $177 million and weighted at only 2.54% of the fund. The ETF is currently dominated by Ark's holdings in Coinbase COIN, Roku ROKU and Tesla TSLA. Shares of Robinhood, now up only 2.7% for the year, ticked up about 2% in pre-market trading. Related: Cathie Wood pulls $14 million out of soaring software giant Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
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TheStreet
Cathie Wood snaps up 1.1 million shares of popular tech stock immediately after weak Q3 earnings
The stock fell 14% in pre-market trading.
*Mark Zuckerberg may be hiding a dirty secret*
Social media has grown from a way to connect with people online to a platform to showcase one's life and learn new information. But social media is not always the safest place due to the rise of cyber attacks and the prevalence of misinformation especially for the youth who are often on the platforms but are susceptible to its risks. New court documents show that Meta META CEO Mark Zuckerberg β whose company owns major social media platforms like Facebook and Instagram β either ignored or rejected proposals from top Meta executives who suggested changes to Instagram that could have improved the well-being of millions of teens. The court documents were unsealed after they were originally filed in a state court in Massachusetts last month.Related: Mark Zuckerberg's net worth: What the Facebook founder makes An unredacted version of the complaint filed by Massachusetts officials this week said that one of the proposals that Zuck denied was the disabling of "beauty filters" on the app. This is a technology that changes a user's appearance and promotes unrealistic beauty standards that could potentially affect the mental health of teenagers. Zuckerberg rejected its removal in April 2020, months after his staff presented the proposal to him, and said that there was a "demand" for these filters. The proposal was reportedly pushed by Meta's vice president of product design Margaret Gould Stewart, and she eventually wrote back to Zuckerberg after he denied the pitch. "I respect your call on this and Iβll support it, but want to just say for the record that I donβt think itβs the right call given the risks," Stewart wrote. "I just hope that years from now we will look back and feel good about the decision we made here.β Meta spokesman Andy Stone responded to the unsealed documents by pointing fingers, saying that "filters exist across every major social platform and social camera." He added that Meta bans filters that go to the extreme when altering weight or changes in skin color.Related: Mark Zuckerberg's Facebook earnings call caused Elon Musk even more pain Instagram President of Global Affairs Nick Clegg asked Zuckerberg in August 2021, the year following the rejected beauty filter proposal, to invest further in the well-being aspect of the social media platforms. Zuckerberg reportedly did not respond to Clegg's proposal until November, when Clegg mentioned the concerns again. Zuckerberg responded indirectly through Susan Li, Meta's chief financial officer, by saying that "staffing was too constrained to meet the request." Former Facebook engineering director Arturo Bejar testified to US lawmakers this week, and he said that the reasons for Zuckerberg's rejections are driven by his approach to data. Bejar told CNN that he believes "Mark needed causal data" to show that users perceptions of themselves were being altered because of the beauty filters. The lack of data is likely what led to Zuckerberg proposal rejections. He added that people who worked at Meta believed that the "level of proof" Zuckerberg needed to make a decision was "too high" and "an impossible standard to meet." Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
[Read more...](https://www.thestreet.com/technology/mark-zuckerberg-secret)
Social media has grown from a way to connect with people online to a platform to showcase one's life and learn new information. But social media is not always the safest place due to the rise of cyber attacks and the prevalence of misinformation especially for the youth who are often on the platforms but are susceptible to its risks. New court documents show that Meta META CEO Mark Zuckerberg β whose company owns major social media platforms like Facebook and Instagram β either ignored or rejected proposals from top Meta executives who suggested changes to Instagram that could have improved the well-being of millions of teens. The court documents were unsealed after they were originally filed in a state court in Massachusetts last month.Related: Mark Zuckerberg's net worth: What the Facebook founder makes An unredacted version of the complaint filed by Massachusetts officials this week said that one of the proposals that Zuck denied was the disabling of "beauty filters" on the app. This is a technology that changes a user's appearance and promotes unrealistic beauty standards that could potentially affect the mental health of teenagers. Zuckerberg rejected its removal in April 2020, months after his staff presented the proposal to him, and said that there was a "demand" for these filters. The proposal was reportedly pushed by Meta's vice president of product design Margaret Gould Stewart, and she eventually wrote back to Zuckerberg after he denied the pitch. "I respect your call on this and Iβll support it, but want to just say for the record that I donβt think itβs the right call given the risks," Stewart wrote. "I just hope that years from now we will look back and feel good about the decision we made here.β Meta spokesman Andy Stone responded to the unsealed documents by pointing fingers, saying that "filters exist across every major social platform and social camera." He added that Meta bans filters that go to the extreme when altering weight or changes in skin color.Related: Mark Zuckerberg's Facebook earnings call caused Elon Musk even more pain Instagram President of Global Affairs Nick Clegg asked Zuckerberg in August 2021, the year following the rejected beauty filter proposal, to invest further in the well-being aspect of the social media platforms. Zuckerberg reportedly did not respond to Clegg's proposal until November, when Clegg mentioned the concerns again. Zuckerberg responded indirectly through Susan Li, Meta's chief financial officer, by saying that "staffing was too constrained to meet the request." Former Facebook engineering director Arturo Bejar testified to US lawmakers this week, and he said that the reasons for Zuckerberg's rejections are driven by his approach to data. Bejar told CNN that he believes "Mark needed causal data" to show that users perceptions of themselves were being altered because of the beauty filters. The lack of data is likely what led to Zuckerberg proposal rejections. He added that people who worked at Meta believed that the "level of proof" Zuckerberg needed to make a decision was "too high" and "an impossible standard to meet." Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
[Read more...](https://www.thestreet.com/technology/mark-zuckerberg-secret)
TheStreet
Mark Zuckerberg may be hiding a dirty secret
New court documents allege that the Meta CEO made some concerning decisions that affect millions of users.