FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
96,009,720Confirmed
2,049,348Deaths
68,629,984Recovered
Fetching Location Data…
Advertisement
Advertisement
Alan Farley
FB

Facebook Inc. (FB) reports Q3 2020 earnings after Thursday’s U.S. closing bell, with analysts expecting a profit of $1.91 per-share on $19.8 billion in revenue. If met, earnings-per-share (EPS) would mark a 10% profit decline compared to the same period in 2019. The stock rallied more than 8% after beating Q2 top and bottom line in July, despite warning that Q3 daily and monthly average users (DAUs and MAUs) would be flat or lower. The stock posted an all-time high in August and has lost ground since that time.

Advertisement
Know where the Market is headed? Take advantage now with 

75% of retail CFD investors lose money

CEO Zuckerberg Faces Hostile Senate

CEO Mark Zuckerberg will testify before a Senate committee on Wednesday, in response to a subpoena from the Republican-controlled group, who are furious with Facebook for alleged anti-conservative message filtering ahead of next week’s presidential election. The CEO had resisted all forms of censorship following Russian interference in the 2016 election, finally acceding to demands and instituting filters that conservatives believe have placed them at a disadvantage.

All political ads on Facebook will be shut down at the close of polling on Nov. 3. The social media giant also announced steps to deter voter intimidation, declaring “we will also remove calls for people to engage in poll watching when those calls use militarized language or suggest that the goal is to intimidate, exert control, or display power over election officials or voters. We thank the civil rights experts and community members who continue to help us understand trends in this area and we look forward to continuing to work with them.”

Advertisement

Wall Street And Technical Outlook

Wall Street has been quiet as a church mouse about Facebook’s political controversies, with a ‘Strong Buy’ rating based upon 32 ‘Buy’, 3 ‘Hold’, and just 1 ‘Sell’ recommendation. Price targets currently range from a low of $195 to a Street-high $340 while the stock is trading about $31 below the median $304 target. This relatively humble placement indicates that many investors have taken note of the conflict and are keeping their powder dry for now.

The stock posted an all-time high at 304.67 on Aug. 26 and rolled over, undercutting the 50-day moving average a few weeks later. It remounted that level in early October but hasn’t made much progress in the last three weeks, suggesting that price action has entered a holding pattern ahead of next week’s election. Bears have a modest advantage, given the perfect timing of Q3 earnings, with a strongly-positive report unlikely to attract committed buying interest.

For a look at all of today’s economic events, check out our economic calendar.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US