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Facebook Had a Very Bad Week Last Week, and Things Did Not Improve Today

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19.03.2019

Between executive departures, network outages and the live broadcast of a New Zealand terrorist attack on its network, it's no wonder that Needham analyst Laura Martin downgraded Facebook to a hold this morning, citing the recent departures of eleven senior managers at the company as an ominous sign for the social media giant. The stock fell 3.32 percent, the second biggest drop on the Entrepreneur Index™ today.

The broader market posted moderate gains as economic data suggested businesses are still in growth mode. The Bureau of Labor Statistics reported that job vacancies jumped to 7.6 million in January, significantly above estimates and a sign that companies are not yet anticipating a slowdown in their business. The S&P 500 and Nasdaq Composite indexes were up 0.37 percent and 0.34 percent respectively, while the Dow index, dragged down in part by a 1.77 percent drop........

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