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FAANG Report: Google, and Facebook ask US court to reinstate 'net neutrality' rules

Facebook bans Myanmar's military chief as its response to those spreading hate "slow and ineffective," according to the UN
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Google, Facebook and Amazon join lawsuit demanding restoration of net neutrality rules.

Alphabet's Google (NASDAQ:GOOG) was joined by Facebook Inc (NASDAQ:FB) and Inc (NASDAQ:AMZN) as part of a coalition of trade groups urging a US appeals court to reinstate net neutrality rules which were thrown out by Republicans on the US Federal Communications Commission, a Reuters report said. Netflix Inc (NASDAQ:NFLX) is also part of the legal filing on Monday by the Internet Association, Entertainment Software Association, Computer & Communications Industry Association, and Writers Guild of America. Net neutrality had barred internet service providers from blocking traffic or offering paid fast lanes for users. The rules took effect in early June but major providers have made no changes in internet access.

Google shares were up 1.27% to US41,236.10.

READ: Facebook being eclipsed by rival Snapchat

Apple Inc (NASDAQ:AAPL) new iPhones to be announced in September will be larger than ever, a report by USA Today said. The successor to the iPhone X is expected to have a 6.5-inch screen, compared with the current iPhone X which has a 5.8-inch screen. Creative Strategies analyst Tim Bajarin said the primary audience for the phones are young people and since they "spend much of their days watching video on their phones" they are asking for larger screens.

Apple shares increased 0.92% to US$218.15.

Netflix is again a market darling after spending weeks in the doldrums following the release of its earnings, a report by CNBC said. The stock had fallen some 20% from its high in June to its August low. Craig Johnson, chief market technician of Piper Jaffray, said late last week the "primary trend" for the stock remains up, the report said.

Shares of Netflix rose 2.7% to US$368.54.

READ: Tesla stock falls after Musk drops go-private plan, but Baird analyst says it is ‘positive for all stakeholders’ Inc (NASDAQ:AMZN) has opened its second Amazon Go in the retailer's hometown of Seattle, a report by Tech Crunch said. The 1,450 square foot store will feature ready-to-eat breakfast, lunch, dinner and snack options, as well as Amazon's Meal Kits, the report said. The store's systems include a number of cameras mounted overhead which track shoppers' movement, have weight sensors on the shelves and the Amazon Go mobile app to automatically charge shoppers for whatever they take.

Amazon stock was up 0.76% to US$1,919.79.

Facebook Inc has banned Myanmar's military and 19 other individuals from its site to prevent the spread of hate and misinformation, an Associated Press report carried by ABC news said. This came after the UN's top human rights body accused Facebook of being "a useful intrument for those seeking to spread hate" and added that while the company has "improved in recent months, Facebook's response has been slow and ineffective," the report said. "The extent to which Facebook posts and messages have led to real-world discrimination and violence must be independently and thoroughly examined."

Facebook shares gained 1.8% to US$177.80.

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