Shares of Internet Giants Rose Despite FTC Probe, Vaccine Makers Also Closed With Different Trends On Tuesday

On Tuesday, Inc (AMZN) was up 0.26 to $3165.12 percent, Twitter Inc (TWTR) rose 1.54 to $52.82 percent, Alphabet Inc (GOOGL) increased its value by 0.54% to $1761.08, Facebook Inc (FB) surged 0.50 to $275.55 percent while Snap Inc (SNAP) fell -0.48 percent to $51.35. The Federal Trade Commission (FTC) is opening an investigation into the digital giants’ processing of personal data. Facebook/WhatsApp, YouTube (Alphabet), Twitter, ByteDance (TikTok), Amazon, Discord, Reddit and Snap were involved in the investigation. Among other matters, the FTC needs to review data collection and usage processes, as well as information presentation. The FTC has send notices to nine social and digital media giants to which they will have 45 days to respond.

Furthermore, under the digital services initiative of the European Union presented on Tuesday, Amazon, Apple, Facebook and Google (Alphabet) are likely to face fines ranging from 6 percent to 10 percent of their turnover.

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BioNTech was up 2.71 percent to $111.20 and Pfizer was down -1.28 percent to $38.71. Although vaccinations have therefore begun in the United Kingdom and the United States with the U.S. product and its German partner, a positive verdict on Pfizer and BioNTech’s Covid-19 vaccine is expected to be delivered on 23 December by the European Medicines Agency (EMA), which is reportedly under considerable pressure to move quickly on the issue, a German government source told Reuters.

Moderna Inc (MRNA) was down -5.06% to $147.22. For its part said on Tuesday that some documents related to the discussions prior to the application for validation of its Covid-19 vaccine candidate were improperly consulted during a cyber attack on the same European Medicines Agency (EMA).

Regeneron Pharmaceuticals Inc. (REGN) was down -1.72 percent to $491.79. Regeneron stopped patient recruitment for two trials of its experimental lymphoma treatment after the U.S. amendments to the research procedures were demanded by the Food and Drug Administration (FDA).


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