Facebook fallout; Alwaleed speaks; FedEx earnings

1. Facebook drama: The social network is caught in a data privacy firestorm that shows no signs of c...

Posted: Mar 20, 2018 12:28 PM
Updated: Mar 20, 2018 12:28 PM

1. Facebook drama: The social network is caught in a data privacy firestorm that shows no signs of cooling off.

Facebook admitted over the weekend that a company linked to President Donald Trump's campaign had accessed and improperly stored a huge trove of its user data.

The controversy erupted as UK media and The New York Times reported that data analysis firm Cambridge Analytica tried to influence how Americans voted using information gleaned from millions of Facebook profiles.

Facebook stock suffered its biggest drop in four years on Monday, shedding 7%. Investors still have not heard from CEO Mark Zuckerberg or COO Sheryl Sandberg.

"What matters for this stock, at this time, are the headlines," wrote analysts at Macquarie Capital.

Facebook is still one of the most valuable US companies, with a market cap of about $500 billion. It's behind only Apple, Google parent Alphabet, Amazon, Microsoft and about even with Berkshire Hathaway.

Its shares were poised to drop further on Tuesday.

2. Alwaleed speaks: Saudi Prince Alwaleed bin Talal has given his first interview since being caught up in an anti-corruption sweep.

The prince, who spent nearly three months locked up in Riyadh's Ritz-Carlton, told Bloomberg that he is now looking to reshape his business empire. The billionaire and global investor said he's likely to split the assets of Kingdom Holding, spinning off its Saudi property business. Kingdom Holding owns shares in Twitter and Citigroup, among others.

Alwaleed said he's also hoping to reassure investors.

"I understand it's not going to be easy at all -- some people in business community will be doubtful, will say, 'What's going on?,'" he told Bloomberg.

3. Pound relief: The British pound strengthened 0.2% against the dollar on Tuesday, pushing the currency above $1.40.

Investors are cheering a joint legal agreement between Britain and the European Union on the terms of a transition period lasting about 21 months after Brexit takes effect in March 2019.

There is still much work to be done on hammering out the details of the transition and the UK's future trading relationship with its biggest export market.

4. Global market overview: US stock futures were lower on Tuesday.

Most European markets advanced in early trade. Asian markets closed mixed.

On Monday, the Dow Jones industrial average and S&P 500 dropped 1.4% and the Nasdaq shed 1.8%.

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5. Stock market movers -- Oracle: Shares in Oracle were lower after the company reported disappointing sales.

FedEx will release earnings after the close.

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6. Coming this week:
Tuesday - FedEx earnings
Wednesday -
General Mills earnings; AT&T trial opening statements; Powell's first press conference
Thursday - Darden, Nike earnings

Minnesota Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 36716

Reported Deaths: 1482
CountyConfirmedDeaths
Hennepin11892776
Ramsey4724218
Stearns228719
Dakota221889
Anoka2124107
Nobles16556
Olmsted105815
Washington102540
Mower9282
Rice8247
Scott6714
Clay57637
Kandiyohi5651
Wright4485
Blue Earth4222
Todd4002
Carver3481
Lyon3002
Sherburne2974
Freeborn2860
Steele2190
Benton2083
Watonwan2060
St. Louis16915
Martin1615
Nicollet14912
Cottonwood1340
Goodhue1248
Winona11915
Pine1030
Crow Wing10212
Chisago951
Otter Tail921
Le Sueur861
McLeod850
Carlton830
Dodge810
Polk812
Unassigned8137
Chippewa761
Itasca6512
Isanti640
Douglas610
Meeker581
Waseca580
Morrison571
Becker550
Jackson540
Faribault530
Murray510
Pennington510
Sibley482
Mille Lacs342
Brown312
Wabasha310
Rock290
Yellow Medicine290
Beltrami280
Renville282
Fillmore270
Pipestone261
Houston240
Norman200
Swift201
Wilkin203
Redwood170
Wadena150
Aitkin140
Big Stone140
Kanabec141
Koochiching141
Cass122
Marshall120
Pope100
Lincoln90
Roseau90
Grant80
Clearwater70
Mahnomen71
Lake60
Hubbard50
Traverse50
Lac qui Parle40
Stevens40
Red Lake30
Kittson20
Cook10
Lake of the Woods00

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 29429

Reported Deaths: 716
CountyConfirmedDeaths
Polk6120178
Woodbury317744
Black Hawk213058
Buena Vista169711
Linn121582
Dallas119429
Johnson11818
Marshall101618
Story7223
Pottawattamie70111
Wapello70130
Crawford6672
Scott66410
Muscatine62044
Dubuque53922
Sioux4570
Tama45129
Wright3750
Louisa36013
Jasper31817
Plymouth3054
Dickinson2492
Warren2491
Washington2299
Hamilton1851
Webster1682
Boone1361
Allamakee1264
Clarke1262
Clay1260
Mahaska11517
Shelby1060
Cerro Gordo1051
Poweshiek1048
Clinton991
Bremer886
Carroll861
Des Moines853
Pocahontas841
Henry823
Taylor790
Franklin780
Cedar771
Emmet750
Cherokee730
Monona710
Floyd662
Marion660
Guthrie644
Hardin630
Sac630
Benton591
Osceola560
Jones550
Jefferson530
Harrison510
Humboldt511
Iowa500
Monroe506
Lee492
Butler472
Calhoun472
Hancock470
Buchanan461
Delaware451
Lyon400
Clayton393
Davis381
Madison372
Grundy340
Mills340
Fayette330
Kossuth320
Winneshiek320
Palo Alto310
Lucas304
Greene280
Mitchell280
Chickasaw270
Howard270
Winnebago260
Jackson250
Union250
Ida220
Appanoose203
Page200
Keokuk191
Van Buren190
Cass170
Audubon161
Adair150
Ringgold150
Worth140
Decatur100
Montgomery102
Adams80
Wayne80
Fremont70
Unassigned40
Rochester
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Albert Lea
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Austin
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