Facebook's woes look set to continue, with the stock called sharply lower for the third consecutive session amid calls for still-silent CEO Mark Zuckerberg to appear before lawmakers on both sides of the Atlantic and answer questions related to the social media giant's latest data controversy.
The European Commission has proposed a flat 3% tax on the revenue of global tech giants in an effort to level the playing field on levies in the world's largest economic bloc.
Tencent Holdings, Asia's biggest tech company and a major investor in Snap Inc. posted stronger-than-expected fourth quarter earnings Tuesday and said its WeChat user base topped 1 billion.
The two companies expect to join forces in the cloud.
The company's shares have been tanking amid widespread calls for Zuckerberg to break his silence on the news that as many as 50 million Facebook users might have had their data used improperly by a political research organization.
Facebook's investors have had a terrible start to the week as the Cambridge Analytica situation spirals out of control. Should investors buy more Facebook at a cheaper price or head for the hills? Watch TheStreet's Kinsey Grant and Brian Sozzi debate for 30 seconds.
Considering how well rivals have been performing, Oracle's disappointing outlook for the second quarter in a row could be a sign of competitive issues.
Oracle shares fall sharply Tuesday after the business software group posts weaker-than-expected sales for its fiscal third quarter as revenue from its newly developed cloud computing division misses Wall Street forecasts.
The hashtag '#DeleteFacebook' has been trending on social media.
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