Meta Platforms (Facebook) Stock News

Meta had sued the firm, NSO Group, for using its spyware to hack 1,400 WhatsApp accounts belonging to journalists, dissidents and others.

Damages awarded after earlier ruling found NSO unlawfully exploited a bug in WhatsApp to spy on users

Israel's NSO Group was handed a $168 million penalty by a federal jury in California on Tuesday for hijacking the servers of WhatsApp in order to hack users of the Meta-owned chat platform on behalf of foreign spy agencies. The case caps a six-year battle between the American social media giant and the surveillance firm.

Meta Platforms won a $168 million verdict against the Israeli surveillance firm NSO, the company said Tuesday, capping a six-year arm wrestling match between America's biggest social networking platform and the world's best known spyware company.

Social media giant Meta Platforms said on Tuesday it has been awarded $168 million in damages from the Israeli spyware firm NSO group after the surveillance company was found liable for hacking its systems.

Meta Platforms reported $41.4B in Q1 ad revenue, up 16% YoY, driven by stronger pricing and increased impressions. Family of Apps delivered $21.8B in operating income with a 52% margin, reflecting unmatched monetization scale and efficiency. Meta AI nears 1B users across platforms, monetizing seamlessly with no friction and expanding engagement beyond traditional social.

The three major stocks in this analysis all look like they are going to drop a bit at the opening of the market. At this point, the premarket trading is likely going to see some selling.

The "Magnificent Seven" group of stocks hasn't really been known for being called cheap. This group includes some big tech high-flyers that led the market over the past few years but have gotten slammed this year.