Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

FAANG Report: 'Black-ish' creator moves to Netflix after Disney shelves anti-Trump episode; Google faces huge fine

Google may be facing a huge fine for tracking US users' locations; Facebook faces new era of more regulation and slower growth
Cast of Black-ish
Move to streaming service Netflix is welcomed by 'Black-ish' creator

The creator of the hit comedy "Black-ish", Kenya Barris, is hopeful a move to Netflix Inc (NASDAQ:NFLX) will allow him to put the controversy behind the shelving of an episode on the show that was critical of US President Donald Trump, a report on the Hollywood Reporter said. 

At the urging of Disney-owned ABC (NYSE:DIS) to make cuts to an episode entitled "Please, Baby, Please" which was critical of Trump, the episode was eventually scrapped. By mid-August, Barris had left ABC Studios and signed up to Netflix.

"If I was going to step out, I wanted to do something where I could take off all the straps and really hang out of the plane," he said in the report. "I want to be Netflix with attitude — loud, bold and unapologetic."

Netflix stock was up 0.24% at US$356.79.

On another front where Trump is having an impact, Apple Inc (NASDAQ:AAPL) said the administration's proposed tariffs will make a bevy of Apple products more expensive, a report by CBS News said.

The list, which the company recently released in a public letter to the US Trade Representative, includes AirPods, the company's wireless earbuds; the Apple Watch; the Mac Mini and various chargers and cables.

The list also includes components that can be found in Apple computers, such as electrical connectors, circuit boards, graphics cards and laptop trackpads. Trump told Apple to build their products in the US.

Apple shares were lower by 1.6% at US$220.23.

READ: Netflix is winning the popularity contest versus YouTube among younger viewers, says Forbes

Alphabet Inc's Google (NASDAQ:GOOG) could be facing a huge fine for tracking users' location even if they have told the company they don’t want to be tracked, a report by Fortune said.

While it previously claimed that “with Location History off, the places you go are no longer stored,” Google now says the setting “does not affect other location services on your device, like Google Location Services and Find My Device. Some location data may be saved as part of your activity on other services, like Search and Maps,” the report said.

If the investigation leads to a full-blown consumer protection case under Arizona state law, Google could be hit with fines of up to US$10,000 per violation.

Google stock fell by almost 1.4% at US$1,161.

Facebook Inc (NASDAQ:FB) is looking at a new era where the social media giant will see more regulation, slower growth and compressed margins, an analyst on Seeking Alpha said.

Analyst Jeff Cai said in a report that Facebook still has a strong economic moat and is a great business to own despite recent headwinds. The company still has a strong presence selling advertising on its platform, the report said.

Facebook shares declined nearly 2.2% to US$162.34.

READ: Google, Facebook trigger jump in global ad-spending forecast, per report Inc (NASDAQ:AMZN) is no longer a looming threat for sellers of factory-floor basics, lab equipment and office products. It is now a full-blown competitor, a report by Bloomberg said.

After reporting that Amazon Business had reported annualized sales of US$10bn, W.W. Grainger, the largest US industrial distributor, had about US$10.4bn in sales last year. 

The report said it is not a perfect comparison, but it is striking how neck-and-neck Amazon has become with incumbents in the industry after only a few years.

Amazon stock was off 0.9% to US$1,968.91.

View full NFLX profile View Profile

Netflix Timeline

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use