Breakfast Briefing: The high cost of fixing Facebook

Shares of the social network were down 20% after its Wednesday earnings report.

Photo credit: Getty Images
Photo credit: Getty Images

Facebook bloodbath. Market watchers have their eyes on Facebook on Thursday morning (Recode) after the company’s stock plunged more than 20% after Wednesday’s earnings report (MarketWatch). Unimpressive user growth, tepid revenue numbers, and the high cost of fixing Facebook’s privacy issues were blamed (New York Times).

Facebook’s stock price isn’t the only thing tumbling. The company’s place on the YouGov BrandIndex global brand health ranking has fallen two spots to number five. Google, YouTube, and Samsung finished in the top three.

The White House press corps is sticking together after a CNN reporter was banned from covering President Donald Trump’s Rose Garden press availability with the European Commission’s president. Top aides were reportedly unhappy Kaitlan Collins asked Trump questions about lawyer Michael Cohen and Russian leader Vladimir Putin at an earlier press event (CNN). Fox News president Jay Wallace said, "We stand in strong solidarity with CNN for the right to full access for our journalists as part of a free and unfettered press (Guardian).

Roseanne Barr is sitting for her first post-scandal interview on Thursday with Fox News Channel’s Sean Hannity. ABC fired Barr in May and cancelled the reboot of her eponymous sitcom after she made racist comments about former White House aide Valerie Jarrett (CBS News).

Sean Spicer is not having the smoothest book rollout. The former White House press secretary was heckled on Thursday at a New York City promotional event (Daily News), hours after being mocked on Twitter for writing a positive recap of his own White House tenure for the Daily Caller and a contentious interview with the BBC. ABC News White House correspondent Jonathan Karl has called Spicer’s book "much like his tenure as press secretary: short, littered with inaccuracies, and offering up one consistent theme: Mr. Trump can do no wrong" (Business Insider).

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