Market Moves
Nasdaq 100 Is Just Halfway Through Its Plunge, Says Morgan Stanley
The firm’s Michael Wilson sees a further reckoning for the home of the biggest tech names.
Tag: Facebook
Overvalued Stocks: What Would Make Sky-High Multiples Drop?
This top-heavy bull market, led by a handful of tech leviathans, could unexpectedly get a lot cheaper. Here’s how.
Corporate Moves
Working from Home: Maybe Not So Great After All
Polls show white-collar workers want to go back to the office, at least for some of the time.
Risk
Pension Fund Sues Facebook Over Timing of Stock Buybacks
Lawsuit questions whether buybacks were designed to boost stock sales by Mark Zuckerberg and other insiders.
Alternatives
Temasek Joins Facebook-Backed Libra Association
The Singapore sovereign wealth fund is the first government-owned entity to join the blockchain project.
Regulation
Rhode Island Pension Alleges Zuckerberg Overpaid 2019 Settlement to Avoid Personal Consequences
State Treasury says Facebook overpaid Cambridge Analytica settlement by $2 billion to win extra concessions from the feds.
Asset Allocation
Major Institutional Investors Say Zuckerberg’s ‘Totalitarian Grip’ on Facebook Must End
Group calls for Facebook to divulge the concentrated power that chairman and CEO holds.
Market Moves
Value Finally Has Its Day, but Will that Last?
Lower-cost stocks have outpaced hot-shot momentum plays since August.
Newsmakers
CalSTRS Seeks to Join Lawsuit to Reform Facebook Governance
Pension fund says litigation will allow it to ‘protect Facebook’s profitability.’
Facebook to Pay $5.1 Billion to FTC, SEC over Privacy, Data Violations
Regulators accuse social media giant of deceiving users and investors.
Newsmakers
New Zealand Super’s Proxy Drive Against Big Tech Grows to 23 Institutions
Outraged by social media’s showing of the Christchurch massacre, the pension fund enlists other plans to push its cause.
New Zealand Super Leads Christchurch Charge Against Tech Lords
National five-fund coalition targets Facebook, Google, and Twitter’s ‘severely damaged’ content-sharing functions.
Corporate Moves
Chan Zuckerberg Institute Names Princeton’s David Lee CIO
Facebook founder’s philanthropic organization lures Lee from Princeton Endowment.
Risk
Hedge Funds Clip Facebook Shares in Q3
The space’s top dogs ditch the social media company’s stock during Zuck’s problematic year.
Newsmakers
Treasurers Demand Zuckerberg Quit as Facebook Chairman
Social network CEO shouldn’t have dual role, say financial officials from NYC and three states, backing Trillium plan.