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FAANG Report: Facebook calls for tech summit on 2018 election meddling; Apple pirates Tesla employees

Amazon and other large companies should cover the cost of food stamps, Netflix shares get an upgrade

Facebook calls for a tech summit on election meddling

Facebook Inc (NASDAQ:FB) is calling for a summit with other tech giants such as Twitter (NYSE:TWTR) to talk about their plans to prevent foreign influence and disinformation campaigns in the US midterm elections this November, a report by BuzzFeed News said.

The companies are planning to hold a private meeting on Friday to share their tactics in preparation for the elections. Facebook's head of cybersecurity, Nathaniel Gleicher, invited a dozen companies, including Google (NASDAQ:Alphabet) and, Microsoft (NASDAQ:MSFT), to gather at Twitter headquarters, the report said in quoting an email by Gleicher it had obtained.

“As I’ve mentioned to several of you over the last few weeks, we have been looking to schedule a follow-on discussion to our industry conversation about information operations, election protection, and the work we are all doing to tackle these challenges,” Gleicher wrote.

Facebook shares were up 0.75% at US$174.22 by midday.

READ: SEC investigates why Facebook didn’t warn investors sooner on privacy lapse

Senator Bernie Sanders of Vermont will soon introduce legislation that would require large employers like Amazon, Walmart and McDonalds to fully cover the cost of food stamps, public housing, Medicaid and other federal assistance received by their employees, The Washington Post reported.

The goal, according to Sanders, is to force corporations to pay a living wage, given the rising gap between the very rich and the poor in the country, Sanders said.

Amazon.com shares gained 0.5% to US$1,912.91.

Apple Inc (NASDAQ:AAPL) has hired dozens of current and former employees of Tesla (NASDAQ:TSLA) since late in 2017, CNBC reported.

The former employees are not only going to work on the scretive autonomous driving project of Apple but on several other projects as well, the report said. They include manufacturing, security and software engineers. More recently, supply chain experts have joined as well. Apple's vehicle initiative is called Project Titan.

Apple stock was up 0.3% to US$216.13.

READ: Netflix CFO steps down after more than seven years on the job

Alphabet's (NASDAQ:GOOG) Google said it has disabled dozens of YouTube channels and other accounts linked to a state-run Iranian broadcaster running a political influence campaign, a report by ABC News said.

The report said Google disabled 39 YouTube channels, six blogs on Blogger and 13 Google Plus accounts. Google said its forensic research shows the accounts were set up by the state-run Islamic Republic of Iran Broadcasting (IRIB) network.

Google shares rose 1% TO US$1,217.49.

Streaming giant Netflix (NASDAQ:NFLX) stock is expected to rise because of its success in international markets, according to a report by CNBC.

The report quoted an upgrade by SunTrust for Netflix shares to a BUY from HOLD, saying trends showed the network will add 5mln additional international subscribers in the current quarter compared with the Wall Street consensus of 4.5mln.

Shares of Netflix were up 4% to US$352.79. 

Quick facts: Facebook Inc

Price: 175.19 USD

Market: NASDAQ
Market Cap: $499.37 billion

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