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FAANG REPORT: Amazon.com looking to buy Landmark movie chain; Facebook hit over Rohingya hate content

A look at the latest news driving the most popular tech stocks

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Amazon is said to be in the running to acquire the Landmark theater chain

E-commerce behemoth Amazon.com (NASDAQ:AMZN) is said to be in the running to acquire the Landmark theater chain, a report by Bloomberg said. The company is said to be vying with other suitors to acquire the business from Wagner/Cuban Cos, which is backed by billionaire Mark Cuban and Todd Wagner, the report said. The chain’s owners have been working with investment banker Stephens Inc on a possible sale, the people said. No final decisions have been made, and talks could still fall apart. Entry of Amazon would vault the company into the brick-and-mortar cinema industry.  

Shares of Amazon in New York were up 1.02% to US$1,901.74 during Thursday's session.

READ: Amazon in prime position among Wall Street analysts after stellar 2Q earnings performance

Social media giant Facebook Inc (NASDAQ:FB) has been slow in cracking down on hate speech in Myanmar and is hiring more Burmese speakers and investing in technology to identify controversial content, a company statement said. A report by Al Jazeera said the Facebook statement posted online on Thursday claimed it was using tools to automatically detect hate speech in Myanmar, a country in Southeast Asia that has been rocked by ethnic strife that forced hundreds of thousands of Rohingya Muslims to flee to the border with Bangladesh the past few months. There are numerous posts that called the Rohingya and other Muslims dogs and rapists.

Shares of Facebook declined 0.8% to US$178.15. 

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

Movie theaters are trying to use three screens in trying to fend off Netflix (NASDAQ:NFLX), a report by ABC News said.  Instead of one cinema screen, there will be three. One would be at the front and two will be on the sides, the ABC report said. The cinema industry faces stiff competition from Netflix, whose revenue is forecast to be the fastest growing part of the entertainment and media industry through 2021, according to consultancy PwC. Its estimated annual growth of 6% compares with a projected annual drop in cinema attendance of 1.2%.

Netflix shares were up 0.4% to US$327.60.

READ: Google hit with record €4.3bn fine from European regulators over Android operating system

Alphabet Inc (NASDAQ:GOOG) is working on a new health and fitness AI assistant that it will call Google Coach, a report by BGR said. BGR said that according to Android Police, Google Coach will not just be an exercise tracker that will urge the individuals to stay active throughout the day. Using data Google collects about your health, the assistant will also recommend workouts, track your progress and give you ideas on what to do next.

Shares of Google were up 0.9% to US$1,225.61.

Apple (NASDAQ:AAPL) will launch two entirely new products in the coming years, according to a report by the Independent quoting an analyst. The first product is said to augmented reality glasses. Next in line would be an electric vehicle it will construct itself, the report said.

Apple shares rose 1.5% to trade at US$213.49.


Contact Rene Pastor at rene.pastor@proactiveinvestors.com










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