Facebook (FB) Stock Gaining on New Photo App Using Artifical Intelligence

NEW YORK (TheStreet) -- Shares of Facebook (FB) are gaining 0.45% to $81.07 on Tuesday after the company launched 'Moments,' a new photo app that uses artificial intelligence, allowing users to privately share photos with friends.

The company said that the app was created because many times people who attend the same events want to share or send photos to each other however, sending numerous photos to multiple people can be a hassle.

To make this process easier, 'Moments' uses facial technology to identify which friends are in the pictures, and enables you to privately sync the photos quickly with specific friends.

Separately, Belgium's data-protection watchdog is accusing the social media firm of tracking its users on external websites through the use of 'like' and 'share' buttons, and even monitoring the activities of non-Facebook users by means of plug-ins or cookies, The Wall Street Journal reported.

At the same time, EU member states yesterday approved a draft of new privacy law that would boost the same national regulators' powers over companies like Facebook.

The draft law includes a one-stop shopping provision, which allowing any company to deal with only one of the EU's national privacy regulators--the one where it has its headquarters. Additionally, the new law would place limits to the use of 'profiling'--the automated process of personal data to assess performance at work, economic situation, health or personal preference, the Journal said.

Separately, TheStreet Ratings team rates FACEBOOK INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

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