Jul 26, 2018 - Technology

Facebook's big fall

Dan Primack, author of Pro Rata

Facebook shares fell nearly 19% on Thursday, or $41.24 per share, wiping out more than $119 billion in value. Within that is a $15 billion hit for founder and CEO Mark Zuckerberg.

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Data: Money.NET; Chart: Harry Stevens/Axios
  • This came after Facebook reported slower revenue and user growth in the second quarter.
  • The big losses came in aftermarket trading yesterday, but Facebook was unable to make up much ground during today's session.
  • Facebook stock is now underwater for 2018.

Go deeper: Why Facebook's shellacking spells danger for all stocks

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Ina Fried, author of Login
3 mins ago - Science

CRISPR pioneer: "Science is on the ballot" in 2020

Photo: "Axios on HBO"

In her three decades in science, Jennifer Doudna said she has seen a gradual erosion of trust in the profession, but the recent Nobel Prize winner told "Axios on HBO" that the institution itself has been under assault from the current administration.

  • "I think science is on the ballot," Doudna said in the interview.

Why it matters: That has manifested itself in everything from how the federal government approaches climate change to the pandemic.

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Jonathan Swan
12 mins ago - Axios on HBO

Ted Cruz doesn't think the Hunter Biden attacks are working

Republican Sen. Ted Cruz told "Axios on HBO" he doesn't think the Trump campaign's focus on the Biden family's business dealings are having any sway with voters.

The big picture: After watching the Trump-Biden debate with "Axios on HBO" on Thursday night, Cruz said he thought Trump had done very well. But when asked whether he thought voters were moved by the release of the Hunter Biden emails, Cruz replied, "I don't think it moves a single voter."

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Alexi McCammond
22 mins ago - Politics & Policy

Ilhan Omar: The Squad expects liberal turn from Biden after election

Rep. Ilhan Omar told "Axios on HBO" that given the way progressives have shaped Joe Biden's policy platform, she and other members of "The Squad" expect a liberal turn from him if he's elected.

Why it matters: Progressives have largely refrained from publicly criticizing Biden in the lead-up to the election, even though he hasn't signed on to their most far-reaching policies. Instead, they're focusing solely on beating Trump.

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