Technology News Roundup

Published on: November 6, 2019
Author: Amy Liu

Google eyes changes to political ad policy – WSJ

  • Google (GOOG, GOOGL) is considering changes to its political ad policy, the WSJ reports — a move coming following a shot across the bow by Twitter (NYSE:TWTR), which said it would ban all political ads in a thinly veiled jab at its megatech rivals.
  • Google’s been holding internal meetings on the issue and is expected to share more with employees this week, according to the report.
  • Any ad policy would be implemented across all platforms as Google’s policies are uniform across search and YouTube.
  • Twitter announced its move in the wake of heavy public discussion about Facebook’s (NASDAQ:FB) refusal to ban political ads, a decision that CEO Mark Zuckerberg has publicly defended.

DOJ charges former Twitter workers with Saudi spying – report

  • The Justice Dept. has charged two former Twitter (NYSE:TWTR) employees with spying for Saudi Arabia in part by digging into user accounts on the service, The Washington Post reports.
  • One of the former workers, Ahmad Abouammo, is a U.S. citizen alleged to have spied on the accounts of three users on behalf of the Saudi government.
  • Another, Ali Alzabarah, is a Saudi citizen accused of accessing personal information on more than 6,000 accounts in 2015 on behalf of the Saudis; one of them was a prominent dissident who later became close to Jamal Khashoggi, the Post columnist killed by Saudi agents last year.
  • “The criminal complaint unsealed today alleges that Saudi agents mined Twitter’s internal systems for personal information about known Saudi critics and thousands of other Twitter users,” said U.S. Attorney David Anderson. “We will not allow U.S. companies or U.S. technology to become tools of foreign repression in violation of U.S. law.”

HP confirms Xerox bid

  • HP (NYSE:HPQ) confirms receiving a proposal from Xerox (NYSE:XRX) yesterday, which came after periodic conversations about a potential combination.
  • HP: “We have a record of taking action if there is a better path forward and will continue to act with deliberation, discipline and an eye towards what is in the best interest of all our shareholders.”
  • HP shares are up 1% after hours and XRX is flat.

Redfin +6% on upside print, outlook

  • Redfin (NASDAQ:RDFN) rises 6% after Q3 beats with revenue up 70% Y/Y. The company sees an upside Q4 with revenue of $211-220M versus the $194.43M consensus.
  • Q3 Service revenue totaled $158.5M compared to $128.9M in last year’s quarter. Product revenue was $80.2M, up from $11.4M.

Lenovo Group ADR misses on revenue

Baidu EPS beats by $0.60, beats on revenue

  • Baidu (NASDAQ:BIDU): Q3 Non-GAAP EPS of $1.76 beats by $0.60; GAAP EPS of -$2.57 misses by $3.23.
  • Revenue of $3.93B (flat Y/Y) beats by $40M.
  • Shares +5.8%.