Vanguard Communication Services ETF (ARCA: VOX)

Latest news for Vanguard Communication Services ETF (ARCA:VOX)

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The fund employs an indexing investment approach designed to track the performance of the MSCI US Investable Market Index (IMI)/Communication Services 25/50, an index made up of stocks of large, mid-size, and small U.S. companies within the communication services sector, as classified under the GICS. The Advisor attempts to replicate the target index by seeking to invest all, or substantially all, of its assets in the stocks that make up the index, in order to hold each stock in approximately the same proportion as its weighting in the index. It is non-diversified.

Meta Platforms, Inc.

Alphabet Inc

Alphabet, Inc.- Cl C

Verizon Communications, Inc.

Netflix, Inc.

Walt Disney Co

Comcast Corp. Class A

At&T Inc

T-Mobile Usa Inc Esrw Usd Npv Ref Sm#585558

Trade Desk, Inc.

Google.Shutterstock

Government

Legal

Global

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FCOM

GOOG

GOOGL

ETF Opportunities Trust T-Rex 2X Long Alphabet Daily Target ETF

GOOX

iShares Trust S&P Global Telecommunications Sector Index Fund

Google may have violated competition laws by refusing to grant Enel&#39;s Juice Pass app access to its Android Auto platform, according to an EU court.

Google Blocks Android Auto Access, May Violate EU Rules, According To Court Adviser

Competition From Big And Small Players

METU

College professor sues Meta Platforms (NASDAQ: META) for not allowing his browser extension to unfollow everything on Facebook, citing Section 230.

Meta Blasts Professor Lawsuit Over User Control Of Facebook As &#39;Baseless&#39;

Google must face a revived class action lawsuit for allegedly collecting Chrome users&#39; data without consent, according to U.S. appeals court decision.

Alphabet&#39;s Google Faces Revived Chrome Lawsuit After Appeals Court Ruling

Voxies

Vox Royalty Corp

VOXX International Corporation - Class A Common Stock

VOXX International Corp

VOXTUR ANALYTICS CORP by VOXTUR ANALYTICS CORP.

Voxtur Analytics Corp

voxeljet AG

A refusal by Google to grant an e-mobility app made by Enel SpA access to its<a href="https://www.benzinga.com/general/health-care/24/08/40657322/google-stock-an-ai-play-for-health-care-the-doctor-will-hear-you-now-and-diagnose-your-cough"> Android Auto platform </a>may violate competition laws, according to an adviser with the Court of Justice of the European Union (CJEU).
Italy&#8217;s antitrust regulator fined Google parent Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) 102 million euros ($113.2 million) in 2021 for blocking Enel&#8217;s Juice Pass on Android Auto, software that projects a smartphone screen onto a car&#8217;s infotainment screen, Reuters reported.
JuicePass is an app that lets users control their electric car chargers at any time from anywhere.
Google&#8217;s refusal abuses its dominant position by obstructing access by an app developed by a third-party operator to the platform, producing anti-competitive effects to the detriment of consumers, according to Court Advocate General Laila Medina.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/08/40618625/yelp-launches-antitrust-battle-against-google-after-federal-ruling-declares-search-giant-a-monop">Yelp Launches Antitrust Battle Against Google After Federal Ruling Declares Search Giant A Monopolist</a>
Google raised concerns over security and absence of a specific template in refusing to make JuicePass compatible with Android Auto. Google, which appealed to the Italian Council of State, said it has since taken action to resolve the issue.
&#8220;We note the opinion of the Advocate General and await the final decision of the Court. Since this case started, we have worked to add the template Enel asked for, and many similar apps are already available globally on Android Auto,&#8221; a Google spokesperson said.
CJEU judges, who will rule in the coming months, usually follow the majority of such non-binding opinions. 
Price Action: Alphabet (GOOG) gained 0.50% to close at $158.60 on Thursday.
A majority of exchange-traded funds that hold the stock also gained on Thursday.
<ul>
<li>T-Rex 2X Long Alphabet Daily Target ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/GOOX#BATS">GOOX</a>) slipped 0.55%</li>
<li>Fidelity MSCI Communication Services Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCOM#NYSE">FCOM</a>) ticked up 0.35%</li>
<li>IShares Global Comm Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXP#NYSE">IXP</a>) went up 0.58%</li>
<li>Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>) gained 0.59%</li>
<li>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) edged up 0.29%</li>
</ul>
Read Now:
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<li><a href="https://www.benzinga.com/news/legal/24/08/40632500/googles-chances-of-getting-fined-in-search-adtech-lawsuits-relatively-low-analyst">Google&#8217;s Chances Of Fines In Search, AdTech Lawsuits &#8216;Relatively Low&#8217;: Analyst</a></li>
</ul>
Photo: Shutterstock

Facebook users may have better control over using the <a href="https://www.benzinga.com/markets/equities/24/07/40056947/nvidia-amd-microsoft-meta-tesla-why-these-5-stocks-are-on-investors-radars-today">social media platform</a> if a college professor wins a lawsuit against its owner, Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
Ethan Zuckerman, a public policy professor at the University of Massachusetts-Amherst, filed a suit against the tech giant as part of a quest to release a browser extension called Unfollow Everything 2.0.
The extension, which is being developed by Zuckerman, would allow users to unfollow their friends, groups, and pages in one fell swoop, and, in doing so, to effectively turn off their newsfeed, according to court documents.
&#8220;Users who download the tool would be free to use the platform without the feed, or to curate the feed by refollowing only those friends and groups whose posts they really want to see,&#8221; the suit said.
Read Also: <a href="https://www.benzinga.com/general/social-media/24/07/39844744/stock-of-the-day-meta-how-to-profit-from-a-trading-range">Stock of the Day: Meta – How To Profit From A Trading Range</a>
Zuckerman is basing the suit on Section 230 of the Communications Decency Act, which gives users control over how they access the Internet.
&#8220;Through this provision, Congress intended to promote the development of filtering tools that enable users to curate their online experiences and avoid content they would rather not see,&#8221; the suit said.
Facebook already allows users to manually unfollow friends, groups, and pages one at a time, but &#8220;doing so for hundreds or even thousands of friends, groups, and pages is cumbersome and time-consuming,&#8221; the suit stated.
&#8220;Unfollow Everything 2.0 streamlines the process, while protecting user privacy,&#8221; it said.
Meta has filed a motion to dismiss the suit, according to a company spokesperson.
"This suit is baseless, and was filed over a hypothetical browser extension that has not even been built.&#8221;
Price Action: Meta has gained 0.77% to $530.79 as of Wednesday&#8217;s mid-day trading. Exchange-traded funds that cover the stock also trended upward.
<ul>
<li>Direxion Daily META Bull 2X Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/METU#NASDAQ">METU</a>) rose 1.52%</li>
<li>Fidelity MSCI Communication Services Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCOM#NYSE">FCOM</a>) edged up 0.13%</li>
<li>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) went up 0.17%</li>
<li>IShares Global Comm Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXP#NYSE">IXP</a>) gained 0.03%</li>
<li>Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>) picked up 0.04%</li>
</ul>
Read Now:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39653364/facebook-parent-company-meta-sued-by-former-arkansas-gov-huckabee-over-weed-product-ad-misuse">Facebook Parent Company Meta Sued By Former Arkansas Gov Huckabee Over Weed Product Ad Misuse</a></li>
</ul>

Meta Blasts Professor Lawsuit Over User Control Of Facebook As 'Baseless'

Google, which is owned tech giant Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), is required to face a dismissed <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39938868/google-analysts-see-upside-for-alphabet-stock-following-q2-earnings-as-generative-a">class action lawsuit</a> by Google Chrome users after U.S. appeals court decided to revive the case.
The suit was brought against Google for allegedly collecting Chrome users&#8217; personal information without their permission after deciding to not synchronize their browsers with their Google accounts, Reuters reported. The proposed class covers Chrome users since July 27, 2016.
The 9th U.S. Circuit Court of Appeals in San Francisco said the lower court judge who dismissed the suit should have assessed whether Chrome users consented to allow Google to collect their data as they browsed online.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40443852/google-parent-alphabet-is-a-top-large-cap-pick-for-2024-by-this-analyst-heres-why">Google Parent Alphabet Is A Top Large-Cap Pick For 2024 By This Analyst: Here&#8217;s Why</a>
Tuesday&#8217;s 3-0 decision comes after Google agreed last year to destroy billions of records to&nbsp;settle a suit claiming Google tracked people who thought they were browsing privately, even users browsing in Chrome&#8217;s &#8220;Incognito&#8221; mode.
Google did not immediately respond to Benzinga&#8217;s request for comment.
The lower court judge concluded Google&#8217;s general privacy policy allowing data collection governed because the company would have collected the plaintiffs&#8217; information regardless of which browsers they used.
But Circuit Judge Milan Smith called that focus misplaced in Tuesday&#8217;s decision.
&#8220;Here, Google had a general privacy disclosure yet promoted Chrome by suggesting that certain information would not be sent to Google unless a user turned on sync,&#8221; Smith wrote. &#8220;A reasonable user would not necessarily understand that they were consenting to the data collection at issue.&#8221;
The appeals court returned the case to U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California, who dismissed it in December 2022.
Price Action: Alphabet gained 0.33% to close at $168.96 on Tuesday, while exchange-traded funds that track the stock trended downward for the most part.
<ul>
<li>T-Rex 2X Long Alphabet Daily Target ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/GOOX#BATS">GOOX</a>) rose 0.73%</li>
<li>Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>) slipped 0.04%</li>
<li>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) declined 0.07%</li>
<li>IShares Global Comm Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXP#NYSE">IXP</a>) went down 0.06%</li>
<li>Fidelity MSCI Communication Services Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCOM#NYSE">FCOM</a>) dipped 0.15%</li>
</ul>
Read Now:
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40387854/googles-potential-breakup-could-unlock-20-value-but-search-giant-likely-wont-pursue-split-volunt">Google&#8217;s Potential Breakup Could Unlock 20% Value, But Search Giant Likely Won&#8217;t Pursue Split Voluntarily, Says Top Analyst: &#8216;Probability…Is Exceptionally Low</a></li>
</ul>
Photo: Shutterstock

Alphabet's Google Faces Revived Chrome Lawsuit After Appeals Court Ruling

Trian Fund Management, an activist investor hedge fund co-founded by billionaire Nelson Peltz, still owns a piece of Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) after reportedly selling <a href="https://www.benzinga.com/markets/24/05/39078534/activist-investor-nelson-peltz-sells-entire-disney-stake-for-1b-after-losing-proxy-battle">its entire position</a> in late May, according to regulatory filings.
A quarterly 13-F report filed with the Securities and Exchange Commission on May 15 shows that New York-based Trian had 32.4 million shares in the company worth a total of $3.96 billion during the first quarter.
A Thursday filing revealed that Trian sold 29.7 million shares worth $3.69 billion at some point in the second quarter. But the hedge fund still owns almost 2.65 million shares worth nearly $263 million.
Trian reportedly sold <a href="https://www.benzinga.com/top-stories/24/05/39095549/the-rich-get-richer-how-one-billionaire-lost-but-still-made-hundreds-of-millions">its entire stake</a> in Disney at $120 a share as of May 29. The sale came after Peltz unsuccessfully tried to oust Disney CEO Bob Iger at an April shareholder meeting.
Read Also: <a href="https://www.benzinga.com/news/24/04/38104809/elon-musk-is-very-vocal-about-his-animosity-toward-bob-iger-but-his-bromance-with-nelson-peltz-is-go">Elon Musk&#8217;s Feud With Bob Iger Rages On, But His Bromance With Nelson Peltz Is Going Strong: &#8216;His Ideas Are Beyond Anything&#8230;&#8217;</a>
Investors voted against Peltz&#8217;s board nominees and moved to keep the entire board in place, including Iger. 
Peltz reportedly made $1 billion from the divestment, despite losing the activist battle against Disney.
The two 13-Fs also showed that Trian sold 539,884 shares of Ferguson Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FERG#NYSE">FERG</a>) that were worth more than $166 million during the second quarter. The deal left the firm with 1.95 million shares worth $378 million.
Trian also bought 3.55 million shares of UHaul for $78.6 million, 5.36 million shares of Solventum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOLV#NYSE">SOLV</a>) for $284 million and 470,000 shares of Rentokil Initial plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTO#NYSE">RTO</a>) for $13.9 million. It sold 1.22 million shares of Sysco Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYY#NYSE">SYY</a>) for $99.3 million.
Price Action: Disney gained 2.66% to $88.60 by Thursday&#8217;s late-afternoon trading. Exchange-traded funds that track the stock also trended upward.
<ul>
<li>First Trust S-Network Streaming &amp; Gaming ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNGE#NYSE">BNGE</a>) gained 1.34%</li>
<li>ALPS Global Travel Beneficiaries ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JRNY#NYSE">JRNY</a>) edged up 0.02%</li>
<li>Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>) ticked up 1.18%</li>
<li>iShares Global Comm Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXP#NYSE">IXP</a>) went up 0.79%</li>
<li>AdvisorShares Gerber Kawasaki ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GK#NYSE">GK</a>) improved 1.72%</li>
</ul>
Read Now: 
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<li><a href="https://www.benzinga.com/general/entertainment/24/04/38096842/nelson-peltz-reflects-on-disney-proxy-battles-aftermath-i-was-very-surprised">Nelson Peltz Reflects On Disney Proxy Battle&#8217;s Aftermath: &#8216;I Was Very Surprised&#8217;</a></li>
</ul>

Entertainment

Gaming

BNGE

FERG

JRNY

SOLV

Disney Still Makes Up A Chunk Of Peltz's Trian Fund Despite $4B Exit, Records Show

Rafal Brzoska, a Polish billionaire who founded Polish locker company InPost, and his wife, Omenaa Mensah, plan to<a href="https://www.benzinga.com/news/24/08/40298698/mark-zuckerbergs-meta-platforms-triumphs-over-independent-presidential-candidate-robert-kennedy-jr-s"> file a lawsuit </a>against Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) for allegedly putting fake advertisements on Facebook and Instagram that feature his face.
Brzoska said they have not yet chosen a jurisdiction to file the planned suit, which also alleged that both social media sites are circulating false information about his wife, Reuters reported.
Brzoska&#8217;s legal action would be the latest attempt worldwide to hold Meta responsible for ads that consistently show up on the sites despite user complaints.
Meta said it removes false ads from its sites as it becomes aware of them and works with local authorities to deter scammers, but Brzoska said he told Meta about the issue in early July, but the company still has not fixed the problem.
&#8220;Scammers use every platform available to them to defraud people and constantly adapt to evade getting caught. Scam content breaks our rules and we remove it when we find it," Meta told Reuters.
"We also partner with businesses, local administrations and law enforcement to defeat these committed criminals."
Read Also: <a href="https://www.benzinga.com/markets/equities/24/08/40275791/meta-ceo-mark-zuckerberg-owns-two-of-the-biggest-social-media-platforms-in-the-world-he-now-thin">Meta CEO Mark Zuckerberg Owns Two Of The Biggest Social Media Platforms In The World. He Now Thinks This Experience On Phones Is &#8216;Anti-Social,&#8217; And Why He&#8217;s Focused On Ray-Ban Smart Glasses</a>
Brzoska told Reuters that he and his wife &#8220;are considering absolutely all scenarios&#8221; for jurisdiction and may carry out the suit in the U.S. if they are met with inaction in Europe.
He said they would demand in the suit that Meta stop benefiting from promoting content which violates their rights and donate to charity an amount of money matching the amount of ad revenues Meta received by spreading the false information.
Last week, Poland&#8217;s Personal Data Protection Office told Meta Platforms Ireland Limited to stop displaying false advertisements that used real data and images of Brzoska and his wife on Facebook and Instagram in Poland for three months.
Price Action: Meta gained 2.25% to $527.59 by Tuesday&#8217;s mid-day trading, while exchange-traded funds that track the company also picked up.
<ul>
<li>Direxion Daily META Bull 2X Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/METU#NASDAQ">METU</a>) gained 3.49%</li>
<li>Fidelity MSCI Communication Services Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCOM#NYSE">FCOM</a>) edged up 1.12%</li>
<li>Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>) rose 1.16%</li>
<li>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) went up 0/96%</li>
<li>IShares Global Comm Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IXP#NYSE">IXP</a>) climbed 0.77%</li>
</ul>
Read Now: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40110023/meta-platforms-in-rarified-air-with-scale-growth-profitability-12-analysts-size-up-">Meta Platforms &#8216;In Rarified Air&#8217; With Scale, Growth, Profitability: 12 Analysts Size Up Q2 Results, How &#8216;Zuck Won AI Bingo Before The Game Started&#8217;</a></li>
</ul>
Photo: Melnikov Dmitriy on Shutterstock

Polish Billionaire Plans To Sue Meta Platforms For Alleged Fake Advertisements

Facebook parent Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares are trading lower today.
The company has agreed to pay a <a target="_blank" href="https://www.texasattorneygeneral.gov/news/releases/attorney-general-ken-paxton-secures-14-billion-settlement-meta-over-its-unauthorized-capture" rel="noreferrer noopener">penalty </a>of $1.4 billion to Texas to settle claims of improperly collecting millions of citizens&#8217; biometric data without consent. The company will pay the settlement over five years.
Texas Attorney General Ken Paxton said, &#8220;After vigorously pursuing justice for our citizens whose privacy rights were violated by Meta&#8217;s use of facial recognition software, I&#8217;m proud to announce that we have reached the largest settlement ever obtained from an action brought by a single State.&#8221;
In February 2022, Attorney General Paxton filed this lawsuit in state district court in Marshall. The lawsuit also alleged that Facebook has obtained patents for systems &#8220;where consumers wandering in stores or standing at checkout counters have their faces scanned and matched with their <a target="_blank" href="https://www.benzinga.com/government/22/02/25606490/texas-attorney-general-prosecutes-facebook-parent-meta-all-you-need-to-know" rel="noreferrer noopener">social-networking profiles.&#8221;</a>
The complaint alleged that Facebook violated Texas state law not just hundreds or thousands, but billions of times, with civil penalties of at least $10,000 sought for each violation.
Related: <a target="_blank" href="https://www.benzinga.com/news/24/01/36653735/meta-ceo-mark-zuckerberg-summoned-to-court-in-texas-over-alleged-misuse-of-facial-recognition" rel="noreferrer noopener">Meta CEO Mark Zuckerberg Summoned To Court In Texas Over Alleged Misuse Of Facial Recognition</a>
Notably, Meta introduced a feature called Tag Suggestions in 2011 to enhance user experience by automating photo tagging and enabled this feature for all Texans without clearly explaining its functionality.
This settlement is the largest ever by a single state and surpasses the $390 million settlement from Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google secured by 40 states in 2022.
It is also the biggest privacy settlement achieved by an Attorney General and sets a precedent under Texas&#8217; biometric privacy law.
Moreover, this is also one of the largest penalties Meta has faced from regulators, only second to the $5 billion settlement with the U.S. Federal Trade Commission in 2019 over user data misuse related to the <a target="_blank" href="https://www.benzinga.com/general/social-media/24/06/39259832/metas-legal-battle-over-cambridge-analytica-scandal-heads-to-supreme-court" rel="noreferrer noopener">Cambridge Analytica scandal</a>, as per Financial <a target="_blank" href="https://www.ft.com/content/faedc975-7a9b-4632-bc6e-3e2ea71587c1" rel="noreferrer noopener">Times</a>.
Meta stock has gained over 44% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>) and&nbsp;Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>).
Price Action: META shares are down 0.56% at $463.09 at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40045019/meta-platforms-q2-earnings-preview-ai-in-focus-as-advertisers-spend-on-the-best-dig" target="_blank" rel="noreferrer noopener">Meta Platforms Q2 Earnings Preview: AI In Focus As &#8216;Advertisers Spend On The Best Digital Channels — Including Meta,&#8217; Analyst Says</a></li>
</ul>

Equities

Large Cap

News

Regulations

Media

Meta Hit with Largest-Ever State Privacy Fine – Texas AG Secures $1.4B Settlement

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has taken down approximately 63,000 accounts in Nigeria involved in financial <a target="_blank" href="https://about.fb.com/news/2024/07/combating-financial-sextortion-scams-from-nigeria/" rel="noreferrer noopener">sexual extortion</a>, or sextortion, scams targeting <a target="_blank" href="https://www.benzinga.com/trading-ideas/24/07/39934253/how-metas-game-changing-ai-model-could-enhance-developer-freedom-propel-privacy-standards-and-surge" rel="noreferrer noopener">adult men in the United States</a>.
Financial sextortion, a crime without borders, has been fueled in recent years by the rise in activities of loosely organized cybercriminals known as &#8216;Yahoo Boys&#8217;, predominantly operating from Nigeria, specializing in various scam techniques, Meta said in a statement.
&#8220;We&#8217;ve banned Yahoo Boys under Meta&#8217;s&nbsp;Dangerous Organizations and Individuals policy&nbsp;— one of our strictest policies — which means we remove Yahoo Boys&#8217; accounts engaged in this criminal activity whenever we become aware of them,&#8221; the software giant said.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com//node/39930463" rel="noreferrer noopener">Zuckerberg Says Sam Altman &#8216;Deserves A Lot Of Credit,&#8217; But Highlights The Irony In His Firm Named OpenAI Leading Closed AI Models</a>
The firm also removed around 7,200 assets, including 1,300 Facebook accounts, 200 Facebook Pages, and 5,700 Facebook Groups, also based in Nigeria, that were providing tips for conducting scams.&nbsp;
&#8220;We also recently announced that we&#8217;ve developed&nbsp;new signals to identify accounts that are&nbsp;potentially engaging in sextortion,&nbsp;and are taking steps to help prevent these accounts from finding and interacting with teens,&#8221; Meta said.
In recent years, the social media giant has faced increasing pressure from governments, including lawmakers in its home country of the United States, to address concerns about its executives allegedly disregarding evidence that its platforms harm children, reported Reuters.
Last week, Meta was fined $220 million by Nigeria&#8217;s competition watchdog.
The Federal Competition and Consumer Protection Commission (FCCPC) revealed that Meta violated local consumer, data protection, and privacy laws by sharing data on its social platforms without user consent, per a Reuters report.
Additionally, Meta was accused of abusing its market dominance with exploitative privacy policies and treating Nigerians differently compared to users in jurisdictions with similar regulations.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, META stock has gained over 60% in the past year. Investors can gain exposure to the stock via&nbsp;Direxion Daily META Bull 2X Shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/METU#NASDAQ">METU</a>) and&nbsp;Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>).
Price Action: META shares closed lower by 5.61% to $461.27 on Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Photo by DANIEL CONSTANTE on Shutterstock

Markets

General

Meta Cracks Down On Nigerian 'Yahoo Boys' In Massive Sextortion Scam Purge, Bans 63K Accounts

Peacock and its parent company, Comcast Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), are gearing up for a pivotal moment with the upcoming 2024 Olympics in Paris.
Pacock's president, Kelly Campbell, is spearheading efforts with two dedicated task forces to attract viewers during the Games and ensure they remain engaged afterward.
With the opening ceremonies just days away, Campbell and her superiors believe the Olympics will significantly boost Peacock's position in the competitive streaming landscape against giants like Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and Walt Disney Co's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) Disney+, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-22/comcast-bets-on-paris-olympics-to-make-peacock-a-must-have?srnd=phx-industries-entertainment&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a> reports.
"This is going to be a defining moment for Peacock," Campbell said in a recent interview. Over a 19-day period, Peacock will exclusively stream every Olympic event for U.S. viewers, offering thousands of hours of live and on-demand content, including a high-tech morning recap narrated by an AI-synthesized version of Al Michaels' voice.
For NBCUniversal, Comcast's media division, the stakes are high. The division, which owns several cable networks like Bravo, E!, and USA, faces significant pressure as viewers continue to shift from traditional TV bundles to streaming services, Bloomberg writes.
Comcast has invested billions into Peacock, yet it still trails behind competitors like Netflix and Walt Disney.
Comcast had intended to use the 2020 Tokyo Olympics to launch Peacock, but the pandemic delayed the launch. Despite the setbacks, the service launched in July 2020.
Related Read: <a target="_blank" href="https://www.benzinga.com/m-a/24/07/39838603/warner-bros-discovery-shares-are-surging-thursday-as-ceo-considers-asset-sales-spinoff" rel="noreferrer noopener">Warner Bros Discovery CEO Considers Asset Sales, Spinoff</a>
Unlike other streaming services, Peacock started as a free, ad-supported platform with optional paid tiers. Initially, it struggled to attract subscribers without the Olympic boost, but the pandemic created a captive audience that drove growth.
In a strategic meeting in 2021, Comcast CEO Brian Roberts approved increased investments in Peacock, including more original content, movies, and sports.
The platform has since reclaimed popular series and movies and released hit originals like "Poker Face" and "The Best Man: The Final Chapters." Peacock has also secured exclusive rights to major sports events, including NBA and NFL games, bolstering its appeal.
Peacock now costs $7.99 a month following price increases to fund new programming. Despite high churn rates, the service continues to attract new subscribers, partly due to its strategic releases during major sporting events.
The upcoming Olympics will feature promotions for new shows like "Fight Night" and "The Day of the Jackal," leveraging the excitement of the Games to retain viewers.
With 34 million subscribers as of March, Peacock outperforms some rivals in U.S. viewership.
Comcast stock has lost more than 5% in the last 12 months. Investors can gain exposure to the stock via&nbsp;IShares U.S. Telecommunications ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYZ#BATS">IYZ</a>) and Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>).
Price Action: CMCSA shares were trading lower by 3.04% at $38.93 premarket at the last check on Tuesday.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by rarrarorro on Shutterstock

CMCSA

iShares Dow Jones US Telecommunications Sector Index Fund

NFLX

Comcast's Paris Olympics Bet For Boosting Peacock's Viewership: Report

Google's Parent Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) stock is trading lower today. The Italian Competition Authority has launched an investigation into Google and its parent company Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), regarding their methods for obtaining user consent for linking <a target="_blank" href="https://en.agcm.it/en/media/press-releases/2024/7/PS12714" rel="noreferrer noopener">data across various services</a>.
The probe focuses on how Google requests consent from users to link data across its services, such as Google Search, YouTube, Chrome, and Maps.
The Italian regulator suspects that Google may provide inadequate or misleading information about the effects of this consent.
The Authority alleges that Google's consent requests might lack transparency about the scope and implications of combining user data across multiple services. This could lead users to unknowingly consent to broader data use than intended.
The investigation also examines whether Google employs techniques that could influence consumer decisions.
The Authority is concerned that these methods might pressure users into consenting to data practices they might otherwise reject.
In response to the investigation, a Google spokesperson stated, "We will analyze the details of this case and will work cooperatively with the Authority," <a target="_blank" href="https://techcrunch.com/2024/07/18/google-accused-of-misleading-consumers-to-grab-more-data-for-ads/" rel="noreferrer noopener">TechCrunch</a> reports.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39822184/google-and-microsoft-provide-nvidia-chip-access-to-chinese-firms-despite-u-s-restrictions-report" rel="noreferrer noopener">Google And Microsoft Provide Nvidia Chip Access To Chinese Firms Despite U.S. Restrictions: Report</a>
Google has been subject to the <a target="_blank" href="https://www.benzinga.com/government/24/03/37911506/apple-meta-and-googles-alphabet-under-scrutiny-eu-launches-antitrust-probes" rel="noreferrer noopener">EU's Digital Markets Act (DMA) </a>since early March, which mandates that companies obtain explicit consent before processing users' personal data for advertising or combining data from different services.
The DMA, which includes <a target="_blank" href="https://www.benzinga.com/topic/digital-markets-act" rel="noreferrer noopener">regulations that align </a>with the General Data Protection Regulation (GDPR), requires consent to be "freely given, specific, informed, and unambiguous."
This investigation could have significant implications for how Google manages user data within the European Union.
However, Google has announced some of the changes including a new search page layout for European users, with dedicated aggregator units with links to aggregator sites from <a target="_blank" href="https://www.benzinga.com/news/24/03/37507425/from-search-to-flights-google-tweaks-everything-for-eus-digital-markets-act" rel="noreferrer noopener">across the web to comply with the DMA</a>.
Italy's investigation also touches on the broader issue of "dark patterns" in online consent flows, where design techniques can manipulate users into making choices they might not otherwise make.
The EU's Digital Services Act (DSA) bans such deceptive designs, aiming to protect users' ability to make free and informed decisions.
Alphabet stock has gained about 43% in the last 12 months. Investors can gain exposure to the stock via the&nbsp;Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) and Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>).
Price Action: GOOGL shares are trading lower by 1.62% at $179.65 at the last check on Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/07/39820669/google-parent-alphabets-q2-expected-to-shine-with-ai-youtube-shorts-cloud-strength-analyst" target="_blank" rel="noreferrer noopener">Google Parent Alphabet's Q2 Expected To Shine With AI, YouTube Shorts, Cloud Strength: Analyst</a></li>
</ul>
Photo by Pawel Czerwinski on Unsplash.

What's Going On With Google's Parent Alphabet Stock On Thursday?

Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is trading higher Thursday after the Wall Street Journal <a href="https://www.wsj.com/business/deals/meta-in-talks-to-buy-stake-in-eyewear-giant-essilorluxottica-3afc69d2?mod=hp_lead_pos5">reported</a> that it plans to acquire a 5% stake in <a href="https://www.benzinga.com/topic/smart-glasses">eyewear company EssilorLuxottica</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ESLOY#OTC">ESLOY</a>).
What Happened: EssilorLuxottica, Meta&#8217;s partner for the <a href="https://www.benzinga.com/general/entertainment/23/09/34964097/watch-mark-zuckerberg-unveils-metas-ai-smart-glasses-that-can-decode-anything-youre-looking">Ray-Ban smart glasses</a>, with an investment value of about 4.5 billion euros ($5 billion), based on EssilorLuxottica's market value.
The Ray-Ban Meta smart glasses, introduced last year, can take calls, play some music, help do live streams, and even search for things that you look at.
Sales of the latest Ray-Ban Meta smart glasses have surpassed expectations. Meta aims to leverage this momentum to develop more devices in collaboration with EssilorLuxottica.
In June, CEO Mark Zuckerberg teased the company's upcoming "full holographic" glasses, an <a href="https://www.benzinga.com/news/24/06/39562120/mark-zuckerberg-says-meta-set-to-unveil-full-holographic-glasses-every-person-who-ive-shown-it-to-so">internal project dubbed&nbsp;Orion</a>.
Also Read: <a href="https://www.benzinga.com/news/24/07/39762765/apple-vision-pro-sales-fall-short-iphone-16-camera-upgrades-and-more-this-week-in-appleverse">Apple Vision Pro Sales Fall Short, iPhone 16 Camera Upgrades And More: This Week In Appleverse</a>
The <a href="https://www.benzinga.com/news/24/03/38001115/meta-ray-ban-smart-glasses-ready-to-get-ai-upgrade-expect-these-new-features-soon">third generation of Ray-Ban Meta glasses</a>, expected to feature a small screen display, is anticipated for the 2025 holiday season.
The Ray-Ban brand's popularity is important for the success of wearable tech. Additionally, EssilorLuxottica also owns LensCrafters, so having a stake helps in introducing the Ray-Ban Meta to users requiring prescription lenses.
The partnership between Meta and EssilorLuxottica began with the first-generation Ray-Ban Stories in 2021. Although the initial device struggled, the second-generation Ray-Ban Meta glasses, released in September, have performed significantly better, featuring improved cameras and AI technology.
Zuckerberg noted in April that the market for such devices is developing faster than expected.
EssilorLuxottica recently announced a<a href="https://www.wsj.com/business/deals/essilorluxottica-to-buy-supreme-brand-from-vf-for-1-5-billion-2092167b"> $1.5 billion deal for the Supreme brand</a> and acquired an 80% stake in Germany's Heidelberg Engineering, further expanding its portfolio.
Meta stock has gained more than 50% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>) and Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)
Price Action: META shares are trading higher by 1.31% at $468.02 at last check Thursday.
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

ESLOY

What's Going On With Meta Platforms Shares On Thursday?

Warner Bros Discovery Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) shares are trading higher after reports of a significant restructuring that could <a href="https://www.benzinga.com/topic/streaming">separate its digital streaming</a> and studio businesses from its traditional television networks.
What Happened: The David Zaslav-led entertainment company looks to bolster its struggling share price and manage its substantial debt load of $39 billion. 
According to the <a href="https://www.ft.com/content/be716ec2-1c02-467c-94af-7c8ef9ae1963">Financial Times</a>, Zaslav — who, as CEO, enjoyed a 27% increase <a href="https://www.benzinga.com/markets/equities/24/04/38338904/warner-bros-discovery-ceos-pay-soars-in-2023-amid-industry-challenges">in pay for 2023</a> and angered fans by <a href="https://www.indiewire.com/news/business/david-zaslav-took-courage-cancel-completed-movies-batgirl-coyote-vs-acme-1234930539/">canceling</a> movies already in post-production — is eager to sell assets.
A spin-off Warner Bros. studio and the Max streaming service into a new company is also being discussed. This company would be largely free of the group&#8217;s current debt. 
The media giant has not yet hired an investment bank to advise the process. 
Also, informal talks with advisors to rival media companies have taken place to gauge interest in potential mergers and acquisitions. 
Previous considerations included combinations with Comcast Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) NBCUniversal and Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), the latter of which has recently <a href="https://www.benzinga.com/general/entertainment/24/07/39658163/paramount-board-endorses-merger-with-skydance-media-as-david-ellison-nears-acquisition-of-m">merged with David Ellison's Skydance</a>.
Also Read: <a href="https://www.benzinga.com/general/gaming/24/07/39717603/warner-bros-subsidiary-postpones-suicide-squad-kill-the-justice-league-season-2-at-last-minute">Warner Bros. Subsidiary Postpones Suicide Squad: Kill The Justice League Season 2 At Last Minute</a>
Why It Matters: A company split could have severe repercussions for bondholders, Bank of America analysts say. 
A similar move by rival Lionsgate led to a creditor revolt.
A strategic spin-off could leave the more mature television assets with the bulk of the debt, while the growing streaming and studio business would have greater financial flexibility.
WBD&#8217;s shares have plummeted nearly 70% since AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) spun off Warner Bros and merged it with Discovery two years ago.
The company has faced declining advertising revenue, high streaming development costs, the COVID-19 pandemic, Hollywood strikes, and costly failures. 
Despite cost-cutting measures and debt repayments, the stock dropped 10% in February.
BofA analyst Jessica Reif Ehrlich recently suggested that WBD&#8217;s current structure is ineffective and recommended exploring asset sales, restructuring, and mergers. 
Warner Bros stock has lost over 34% in the last 12 months. Investors can gain exposure to the stock via Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) and Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>).
Price Action: WBD shares are trading higher by 7.45% at $8.950 in premarket at last check Thursday.
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Asset Sales

PARA

Warner Bros Discovery Shares Are Surging Thursday As CEO Considers Asset Sales, Spinoff

According to a report from the Wall Street Journal, Google&#39;s parent company Alphabet&nbsp;is reportedly in talks to acquire cyber security startup Wiz for $23 billion. This potential acquisition would be Google&#39;s largest ever and significantly boost its cloud computing capabilities.
The potential deal has put ETFs with a substantial allocation to Alphabet in focus. These include Communication Services Select Sector SPDR Fund (ARCA:XLC), Vanguard Communication Services ETF (ARCA:VOX), Fidelity MSCI Communication Services Index ETF (ARCA:FCOM), iShares Global Comm Services ETF (ARCA:IXP) and MicroSectors FANG+ ETN (ARCA:FNGS).
Wiz, an Israeli startup founded in 2020, is one of the fastest-growing start-ups in the cloud security arena and has been positioning itself as a platform provider versus leaders Palo Alto Networks, Zscaler (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zs#NASDAQ">ZS</a>) and others.
The potential deal highlights Alphabet&#39;s strategic focus on enhancing its cybersecurity portfolio amid increasing competition in the tech industry. It would boost Google&#39;s cloud-computing business, which lags behind Amazon.com unit Amazon Web Services as well as Microsoft (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>). Offering an all-in-one approach to cloud security, Wiz relies on ingesting data from various cloud platforms, including Amazon Web Services, Microsoft Azure, and Google Cloud, and then scanning it all for security risk factors.
Alphabet executives see the deal as a way to fortify Google&#39;s cloud business, which grew 28% to $9.57 billion in the first quarter of this year. However, an agreement hasn&#39;t been reached yet, and talks may fall apart.&nbsp;
<h3>ETFs in Focus</h3>
Let&#39;s delve into each ETF below:
Communication Services Select Sector SPDR Fund
Communication Services Select Sector SPDR Fund offers exposure to companies from telecommunication services, media, entertainment and interactive media &amp; services and has accumulated $19.6 billion in its asset base. It follows the Communication Services Select Sector Index and holds 22 stocks in its basket, with Alphabet Class A and C shares occupying the second and third position, respectively, with a combined 23.4% share. About 47% of the portfolio is allocated to interactive media &amp; services, while entertainment and media round off the next two.
Communication Services Select Sector SPDR Fund charges 9 bps in annual fees and trades in an average daily volume of 3.2 million shares. It has a Zacks ETF Rank #2 (Buy).
Vanguard Communication Services ETF
Vanguard Communication Services ETF targets the communication sector by tracking the MSCI US Investable Market Communication Services 25/50 Index. Holding 117 stocks in its basket, both Alphabet Class A and C shares take the second and third spots, with a total of 22.2% of the portfolio. Interactive media &amp; services is the top sector, accounting for 51.1% of the portfolio, while movies &amp; entertainment, cable &amp; satellite and integrated telecommunication services round off the next three.
Vanguard Communication Services ETF has AUM of $4.1 billion and trades in a good volume of 135,000 shares a day, on average. It charges 10 bps in annual fees and has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook.
Fidelity MSCI Communication Services Index ETF
Fidelity MSCI Communication Services Index ETF follows the MSCI USA IMI Communication Services 25/50 Index. It holds 108 stocks in its basket, with Alphabet Class A and C shares occupying the second and third positions, respectively, at a combined 22.1%.
Fidelity MSCI Communication Services Index ETF has amassed $1.2 billion in its asset base and trades in an average daily volume of 67,000 shares. It charges 8 bps in annual fees and has a Zacks ETF Rank #3 with a Medium risk outlook.
iShares Global Comm Services ETF
iShares Global Comm Services ETF provides global exposure to companies in media, entertainment, social media, search engine, video/gaming and telecommunication services by tracking the S&amp;P Global 1200 Communication Services 4.5/22.5/45 Capped Index. It holds 65 stocks in its basket, with Alphabet Class A and C shares taking the second and third spot, respectively, at 22.8%. Interactive media &amp; services dominates the fund&#39;s return at 51.8%, followed by integrated telecommunication services (17.7%).
iShares Global Comm Services ETF has amassed $443 million in its asset base while trading at an average daily volume of 20,000 shares. The expense ratio comes in at 0.42%. IXP has a Zacks ETF Rank #3 with a Medium risk outlook.
MicroSectors FANG+ ETN
MicroSectors FANG+ ETN is linked to the performance of the NYSE FANG+ Index, which is equal-dollar weighted, designed to provide exposure to a group of highly traded growth stocks of next-generation technology and tech-enabled companies. It holds 10 equal-weighted stocks in its basket, with Alphabet accounting for a 10.2% share.
MicroSectors FANG+ ETN has accumulated $383.6 million in its asset base and charges 58 bps in annual fees. It trades in an average daily volume of 124,000 shares and has a Zacks ETF Rank #3.
<a href="https://www.zacks.com/stock/news/2302684/google-to-reportedly-acquire-wiz-etfs-in-focus?cid=CS-BENZ-FT-etf_news_and_commentary-2302684">To read this article on Zacks.com click here.</a>

Analyst Ratings

Trading Ideas

FNGS

MSFT

Google to Reportedly Acquire Wiz: ETFs in Focus

Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) is in advanced talks to <a href="https://www.benzinga.com/m-a/24/07/39764952/google-parent-alphabet-reportedly-eyes-23b-acquisition-of-cybersecurity-firm-wiz-to-take-on-microsof">acquire cloud security firm Wiz</a> in a deal potentially worth up to $23 billion, an acquisition that would significantly enhance Google&#8217;s cloud security capabilities, helping it compete with major rivals such as Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
The deal would also mark Google&#8217;s most expensive acquisition to date.
If successful, the acquisition of Wiz will provide Google with advanced cybersecurity tools designed to protect large organizations from ransomware attacks, reported Reuters.
Wiz&#8217;s offerings include comprehensive infrastructure and software scanning tools that give customers clear visibility into potential threats, senior intelligence analyst at MalwareBytes, Jerome Seguera, told Reuters.
Google has been steadily expanding its cybersecurity portfolio, having <a href="https://www.benzinga.com/news/22/03/26055604/read-how-analysts-view-googles-readiness-to-acquire-mandiant">acquired the cyber firm Mandiant</a> for $5.4 billion two years ago. 
Marc Bleicher, CTO of Surefire Cyber, noted that Google is positioning itself to better compete with Microsoft and Amazon Web Services in the cloud security market. Wiz, founded in 2020, has quickly become a key player in cloud security, especially with the shift to remote work during the pandemic.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39779768/googles-poker-move-with-wiz-could-be-the-kick-off-for-big-tech-m-a-in-2025-analyst">Google&#8217;s &#8216;Poker Move&#8217; With Wiz Could Be The Kickoff For Big Tech M&amp;A In 2025: Analyst</a>
Wiz was founded by former Israeli army intelligence members who previously established Adallom, another cloud security firm acquired by Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) for $320 million in 2015. 
Headquartered in New York, Wiz has rapidly grown, recently valued at $12 billion and expecting $1 billion in annual organic revenue by 2025. The company has raised nearly $2 billion in venture capital to date.
The potential acquisition of Wiz comes amid a surge in global cybersecurity deals in 2024, with 120 deals announced in the first half of the year totaling $12.4 billion. 
Alphabet stock has gained more than 43% in the last 12 months. Investors can gain exposure to the stock via the&nbsp;Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) and Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>).
Price Action: GOOGL shares are trading higher by 0.75% at $187.93 in early morning trading Tuesday.
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

AMZN

Google's Potential $23B Wiz Acquisition Set To Enhance Cloud Security

Verizon Communications Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) is reportedly considering a significant move to sell thousands of mobile phone towers across the U.S.
Verizon has engaged advisors to assess potential buyers&#8217; interest in a package comprising approximately 5,000 to 6,000 towers. A possible sale could yield over $3 billion, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-15/verizon-is-said-to-explore-selling-thousands-of-towers-in-us?sref=TBDibEcD" rel="noreferrer noopener">cites</a> familiar sources, although discussions are in the early stages and do not guarantee a transaction.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39779025/verizon-and-at-t-clash-over-14b-firstnet-spectrum-proposal" rel="noreferrer noopener">Verizon And AT&amp;T Clash Over $14B FirstNet Spectrum Proposal</a>
In 2015, Verizon offloaded lease and operational rights for about 11,000 towers to American Tower Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMT#NYSE">AMT</a>) for an upfront payment of $5 billion. This deal helped Verizon raise funds for airwave purchases and debt reduction, according to Bloomberg.
The current batch of towers will likely attract interest from infrastructure companies and strategic investors. Major telecom firms often leverage their mobile phone tower assets to generate cash.
Goldman Sachs analyst <a target="_blank" href="https://www.benzinga.com/news/24/07/39580917/verizon-at-t-and-t-mobile-set-for-gains-goldman-sachs-cites-ai-and-data-center-demand" rel="noreferrer noopener">views the U.S. telecom</a> sector optimistically, emphasizing the transformation underway among wireless carriers and data centers.
Verizon stands out in Schneider&#8217;s analysis for its strengthening wireless operations and promising prospects in fixed wireless for both consumer and business segments.
Investors tracking developments can consider exposure through Vanguard Telecommunication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>) and iShares U.S. Telecommunications ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYZ#NYSE">IYZ</a>).
<h2 class="wp-block-heading">Verizon Stock Prediction For 2024</h2>
Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.
Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at Verizon Communications, an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For Verizon Communications, the 200-day moving average sits at $38.68, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, which is below the current price of $40.79. For more on charts and trend lines, <a href="https://pro.benzinga.com/">see a description here.</a>
Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.
Price Action: VZ stock traded higher by 0.27% at $40.90 premarket at the last check on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Telecom Giant Verizon Eyes Tower Sell-Off To Monetize Asset

Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)- owned Google&#8217;s emissions have surged by nearly 50% over the past five years as the company races to catch up with the deployment of artificial intelligence (AI) into its products. This reflects a tough path for it to reach its goal of <a target="_blank" href="https://www.benzinga.com/markets/esg/23/08/33842666/google-takes-flight-with-sustainable-aviation-fuel-program" rel="noreferrer noopener">eliminating carbon emissions by 2030.</a>
According to a recent environmental report, Google reported greenhouse gas <a target="_blank" href="https://www.gstatic.com/gumdrop/sustainability/google-2024-environmental-report.pdf" rel="noreferrer noopener">emissions </a>of 14.3 million metric tons of carbon dioxide equivalent for 2023.
Despite aiming to eliminate emissions by 2030, Google&#8217;s emissions in 2023 were 48% higher than in 2019 and 13% higher than in 2022.
The increase is primarily due to higher energy consumption at its data centers and supply chain emissions, exacerbated by the intensive energy demands of AI technology.
As of 2022, global data center electricity consumption ranged from 240 to 340 TWh, accounting for approximately 1-1.3% of global electricity demand.
In 2023, Google&#8217;s data centers consumed over 24 TWh, representing around 7-10% of global data center electricity consumption and about 0.1% of global electricity demand.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39612625/google-messages-suddenly-removes-no-encryption-icon-from-iphone-rcs-chats" rel="noreferrer noopener">Google Messages Suddenly Removes &#8216;No Encryption&#8217; Icon From iPhone RCS Chats</a>
In 2023, data center electricity consumption grew by 17%, despite maintaining a 100% global renewable energy match, highlighting the challenge of reducing emissions while increasing compute intensity and infrastructure investments for AI.
&#8220;We expect our Scope 3 emissions will continue to rise in the near term, in part due to increased capital expenditures and expected increases in our technical infrastructure investment to support long-term business growth and initiatives, particularly those related to AI,&#8221; the company stated.
The energy requirements for AI could disrupt the clean energy goals of both nations and trillion-dollar tech companies, reported <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-02/google-s-emissions-shot-up-48-over-five-years-due-to-ai?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.
In countries like Saudi Arabia, Ireland, and Malaysia, the energy needed for planned data centers surpasses available renewable energy supplies, according to Bloomberg analysis.
Google isn&#8217;t alone in this struggle. In May, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) reported a <a target="_blank" href="https://www.benzinga.com/news/24/05/38979360/microsofts-ai-push-puts-its-carbon-neutral-goal-at-risk-says-president-brad-smith" rel="noreferrer noopener">30% increase in carbon emissions</a> since 2020 due to AI investments, complicating its goal of achieving net-zero emissions by 2030.
Alphabet stock has gained more than 54% in the last 12 months. Investors can gain exposure to the stock via the&nbsp;Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) and Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>).
Price Action: GOOGL shares are trading higher by 0.05% at $185.34 in premarket at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Green Dreams vs. AI Reality: Google's Emissions Soar Amid Tech Expansion

Needham analyst Laura Martin reiterated an <a target="_blank" href="https://www.benzinga.com/quote/META/analyst-ratings" rel="noreferrer noopener">Underperform rating </a>on the shares of Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>). Needham&#8217;s Underperform rating closely corresponds to the &#8220;Sell&#8221; recommendation required by the FINRA.
The analyst has put forth insights from conversations with former META employees as well as a social media ad agency CEO.
The analyst has found out that generative AI already influence around 20% of Meta&#8217;s content generation and monetization efforts and is driving advertising capabilities including the Advantage+ product.&nbsp;
Over the next 2-3 years, the analyst expects Meta to grow its GPU investments as it integrates generative AI across its entire monetization stack.
The analyst notes Meta will buy &gt;150,000 GPUs from NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) in 2024, with extra GPUs purchased to handle search and AI workflows, each accounting for 3%-5% of the total.
The internal hurdle rate for operating expenses at META is a 2-3x return on investment over 3 years, while the hurdle rate for CapEx is a 2-3x return on investment over 5 years, noted the analyst.
Also Read:<a target="_blank" href="https://www.benzinga.com/news/24/07/39569000/metas-pay-or-consent-model-to-draw-charges-from-eu-report" rel="noreferrer noopener"> Meta&#8217;s &#8216;Pay Or Consent Model&#8217; To Draw Charges From EU: Repor</a>t
The analyst warned that the major challenge for Facebook.com and Instagram is slowing user growth as the former is not not attracting younger users and the later is losing out to TikTok&#8217;s rapid growth.
However, the analyst noted that the user engagement on Facebook and Instagram remained strong, with estimates of&nbsp; 35-50 minutes/day.
The analyst recommend investors use Meta as a source of fund because there are worries that Chinese discount retailers like Temu and Shein, which accounted for &gt;20% of META&#8217;s 2023 ad revs, will slow as the geopolitical tensions between the U.S. and China over a potential TikTok ban heat up.
Also, why buy META now, when management is saying that they are in a 2-3 year investment cycle, and rev upside will come in 3-4 years, questioned the analyst.
Meta stock has gained more than 75% in the last 12 months.&nbsp;Investors can gain exposure to the stock via&nbsp;Vanguard Communication&nbsp;Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>) and Communication Services&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>).
Price Action: META shares are trading lower by 0.47% at $501.85 at last check Monday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/news/24/06/39562427/metas-ray-ban-smart-glasses-face-new-rival-powered-by-openais-chatgpt" target="_blank" rel="noreferrer noopener">Meta&#8217;s Ray-Ban Smart Glasses Face New Rival Powered By OpenAI&#8217;s ChatGPT</a></li>
</ul>

Analyst Color

Reiteration

NVDA

Time To Cash Out? Analyst Recommends Tapping Into Meta As Prime Funding Source

Alphabet Inc&#8217;s. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google and financial services provider CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>) are collaborating to innovate in the financial trading space by constructing a new <a target="_blank" href="https://www.benzinga.com/topic/cloud-computing" rel="noreferrer noopener">cloud-computing network</a>.
The project aims to transition the futures and options trading of CME into a more modern, cloud-based environment.
The partnership will focus on creating cloud and colocation facilities adjacent to CME&#8217;s existing data center in Aurora, Illinois.
These facilities are expected to enhance trading speeds and efficiency for market participants.
According to <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-06-26/google-and-cme-to-build-new-facility-to-move-trading-into-cloud?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>, construction is scheduled to commence later this year with phased transitions to the cloud infrastructure.
The venture is part of a broader 10-year alliance initiated in 2021 between Google and CME, including a substantial $1 billion equity investment by Google.
The collaboration aims to migrate not only trading but also data and clearing services to the cloud, marking a milestone in the integration of cloud technology in financial markets.
Read Next: <a target="_blank" href="https://www.benzinga.com/top-stories/24/06/39485696/meta-vs-alphabet-meta-accelerates-on-ai-while-google-has-revenue-earnings-advantage-bank-of-america" rel="noreferrer noopener">Meta Vs. Alphabet: Meta Accelerates On AI While Google Has Revenue, Earnings Advantage, Bank Of America Says</a>
The decision to establish the new facility in Aurora was strategically made to minimize disruption for clients, particularly those concerned about the speed of transactions and geographical advantages.
CME plans to give its clients an 18-month notice prior to transitioning markets to the new platform.
Additionally, firms adopting this new infrastructure will gain access to advanced Google Cloud services, including AI tools and data analytics, to enhance trading strategies and market analysis.
The move towards cloud-based platforms is seen as a strategic shift to reduce costs and increase efficiency within the financial markets.
The transition aligns with similar initiatives by other exchanges, like Nasdaq, which has also embraced cloud technology in partnership with Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
Alphabet stock has gained more than 54% in the last 12 months. Investors can gain exposure to the stock via the&nbsp;Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) and Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>).
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Laylistique via Shutterstock

Google And CME Group Partner For Cloud-Based Futures Trading

Comcast Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) Universal division is reportedly exploring the possibility of developing a major new theme park in the U.K., potentially generating substantial economic benefits and job opportunities.
The proposed park is expected to create around 20,000 construction roles and 8,000 permanent jobs post-completion. The economic impact is projected to reach approximately £35.1 billion ($44.5 billion) over the construction phase and the first two decades of operation, reported <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-06-26/comcast-s-universal-touts-benefits-of-new-theme-park-near-london?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.
Strategically positioned a mere 35-minute train ride north of London, the park could include a Harry Potter-themed land among other attractions, mirroring the success of Universal&#8217;s parks in Orlando, Florida.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/05/39014369/thanks-vivek-comcast-sells-part-of-buzzfeed-after-stock-rally-from-politicians-purchase" rel="noreferrer noopener">Thanks Vivek! Comcast Sells Part Of BuzzFeed After Stock Rally From Politician&#8217;s Purchase</a>
Page Thompson, president of new ventures at Universal, mentioned that the decision to proceed with the project will be made later this year, per the report. If approved, construction could span six to seven years, aiming for a 2030 opening.
In collaboration with the U.K.&#8217;s Department for Culture, Media and Sport, Comcast plans to enhance local infrastructure, including roads and train stations, to support the new park.
Comcast&#8217;s first-quarter revenue increased 1.2% year-over-year to $30.058 billion, beating the analyst consensus estimate of $29.811 billion. Earnings of $1.04 per share <a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38430271/comcast-q1-earnings-revenue-beat-eps-beat-peacock-subscribers-up-55-yoy-and-more" rel="noreferrer noopener">beat analyst estimates of 99 cents per share</a>.
Comcast stock has lost more than 5% in the last 12 months. Investors can gain exposure to the stock via IShares U.S. Telecommunications ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IYZ#BATS">IYZ</a>) and Vanguard Communication Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>).
Price Action: CMCSA shares closed lower by 0.21% at $38.40 on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38987565/comcast-plans-138m-fiber-network-expansion-in-utah" target="_blank" rel="noreferrer noopener">Comcast Plans $138M Fiber Network Expansion In Utah</a>
Photo via Wikimedia Commons

Travel

Comcast's Universal Plans New UK Theme Park, Eyes Massive Job Creation: Report

Meta has reportedly announced it will pause the launch of its AI assistant, Meta AI, in Europe, following concerns raised by the Irish privacy regulator about using user data from Facebook and Instagram.
The decision aligns with a directive from the Irish Data Protection Commission (DPC), which acts as Meta&#8217;s lead regulator in Europe after advocacy group NOYB <a target="_blank" href="https://www.benzinga.com/markets/equities/23/11/35974866/facebook-parent-metas-new-privacy-fee-strategy-faces-backlash-as-it-could-set-costly-trend-in-ap" rel="noreferrer noopener">urged regulators across multiple European countries</a> to scrutinize the company&#8217;s data practices.
Reuters reported that <a target="_blank" href="https://www.benzinga.com/news/24/06/39198673/amid-ftc-probe-meta-in-hot-waters-with-eu-with-11-privacy-complaints-over-ai-data-use" rel="noreferrer noopener">Meta&#8217;s intention to use personal data</a> for training its artificial intelligence models without explicit user consent is the core issue prompting the regulator&#8217;s intervention.
Meta had planned to utilize publicly available and licensed information for this purpose.
Reacting to the DPC&#8217;s request, Meta has agreed to delay training its large language models (LLMs) using public <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39256166/meta-to-use-european-social-media-data-for-ai-training-report" rel="noreferrer noopener">content from adult users on Facebook and Instagram</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39296689/meta-faces-rising-risk-of-free-cash-flow-burn-as-creator-payouts-evolve-says-analys" rel="noreferrer noopener">Meta Faces Rising Risk Of Free-Cash-Flow Burn As Creator Payouts Evolve, Says Analyst</a>
The company expressed disappointment with this setback, citing it as a hindrance to AI innovation and competition within Europe.
In a statement to Reuters, Meta highlighted that excluding local European data would compromise the functionality of Meta AI, providing users with a suboptimal experience.
&#8220;Put simply, without including local information, we&#8217;d only be able to offer people a second-rate experience,&#8221; Meta told Reuters, indicating that the launch of Meta AI in Europe is currently not feasible.
Meta&#8217;s postponement underscores the complex interplay between technological advancement and <a target="_blank" href="https://www.benzinga.com/government/24/03/37656982/eu-leads-with-historic-ai-regulation-nvidia-and-tech-peers-face-new-era-of-innovation" rel="noreferrer noopener">European data privacy regulations</a>.
Meta reported first-quarter revenue of $36.45 billion, <a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38416273/meta-platforms-q1-earnings-highlights-facebook-owner-beats-estimates-but-guidance-higher-costs-ding" rel="noreferrer noopener">up 27% year over year</a>. The company said capital spending is likely to increase in future years as its artificial intelligence roadmap is supported.
Meta stock has gained 83% in the last 12 months.&nbsp;Investors can gain exposure to the stock via&nbsp;Vanguard Communication&nbsp;Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>) and Communication Services&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>).
Price Action: META shares are trading lower by 0.22% at $502.47 at last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Eurozone

Ireland's Regulation Dampens Meta's AI Ambitions In Europe

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) reportedly plans to use public social media content from Europe to train its generative artificial intelligence models.
The decision marks a huge shift for the Facebook owner, aligning its data usage policies in Europe with those in other parts of the world.
Meta will employ content publicly shared on its platforms, such as Instagram and Facebook, for training its Llama large language models. This approach comes after previous hesitations due to the European Union&#8217;s stringent privacy and transparency regulations, reported Reuters.
Meta&#8217;s top policy executive revealed in a September interview with Reuters that the company uses public posts on Facebook and Instagram to train its AI models, excluding private posts and direct messages.
As of April, Meta was still refining its strategy to comply with European regulations when releasing the latest versions of its Llama models.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39189663/mark-zuckerbergs-meta-withheld-key-details-in-instagram-and-whatsapp-acquisitions-ftc-claims" rel="noreferrer noopener">Mark Zuckerberg&#8217;s Meta Withheld Key Details In Instagram And WhatsApp Acquisitions, FTC Claims</a>
Last month, Meta began notifying users in Europe and the U.K. about its use of public information to enhance AI.
Advocacy group NYOB (None of Your Business) has <a target="_blank" href="https://www.benzinga.com/news/24/06/39198673/amid-ftc-probe-meta-in-hot-waters-with-eu-with-11-privacy-complaints-over-ai-data-use" rel="noreferrer noopener">filed complaints in several European countries</a>, arguing that Meta&#8217;s notifications do not meet EU privacy standards, which require explicit opt-in consent from users.
Meta stock has gained 84% in the last 12 months.&nbsp;Investors can gain exposure to the stock via&nbsp;Vanguard Communication&nbsp;Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOX#NYSE">VOX</a>) and Communication Services&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>).
Price Action: META shares are trading higher by 1.15% at $498.65 at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next: <a href="https://www.benzinga.com/government/24/05/38877489/meta-faces-eu-investigation-over-child-safety-concerns-report" target="_blank" rel="noreferrer noopener">Meta Faces EU Investigation Over Child Safety Concerns: Report</a>
Photo courtesy: Shutterstock

Meta To Use European Social Media Data For AI Training: Report

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