Social media giant Facebook, which has weathered storms about privacy and data protection, is now looking at cooler growth following a years-long breakneck pace.

Shares in Facebook plummeted 19 percent to close at $176.26 Thursday, wiping out $100 billion. It was believed to be the worst ever single-day evaporation of market value for any company.

The plunge came one day after the firm missed revenue forecasts for the second quarter and warned that growth would be far weaker than previously estimated.

Chief Financial Officer David Wehner warned Wednesday in an earnings call with analysts that revenue growth had already “decelerated” in the second quarter and would drop “by high single-digit percentages” in coming quarters.

At one point during the call, Facebook shares were trading down as much as 24 percent, an unprecedented drop for a large firm.

On the call, Jefferies & Co. analyst Brent Thill said that “many investors are having a hard time reconciling that deceleration. … It just seems like the magnitude is beyond anything we’ve seen.”

Facebook said the slowdown would come in part from a new approach to privacy and security, but also appeared to acknowledge the limits of growth in advertising, which accounts for virtually all its revenue.

Brian Sheehan, a Syracuse University professor of communication and advertising, said the weak forecast “made investors nervous about more basic long-term issues” with the huge social network, notably its diminished appeal to younger users.

“With or without privacy issues, investors are scared that Facebook’s interactions, particularly with those under 25, are falling,” Sheehan said.

For the second quarter, profit was up 31 percent at $5.1 billion; revenues rose 42 percent to $13.2 billion, only slightly below most forecasts.

User base still growing

Facebook reported its user base was still growing but not as fast as some expected. Monthly active users rose 11 percent to 2.23 billion — below most estimates of 2.25 billion.

Richard Windsor, a technology analyst who writes the Radio Free Mobile blog, said the new outlook should not be surprising.

“This is a direct result of scale as it becomes increasingly difficult to grow at such high rates when a company hits this size,” Windsor wrote.

Windsor added that Facebook is forced to hire more people to handle tasks such as filtering inappropriate content after discovering the limits of artificial intelligence.

“Weaknesses in AI are forcing [Facebook] to keep hiring humans to do the jobs that the machines are incapable of,” he said.

Brian Wieser at Pivotal Research Group said the company appears to have hit a “wall” on growth in advertising.

In a research note, he said Facebook’s outlook “suggests that while the company is still growing at a fast clip, the days of 30 percent-plus growth are numbered.”

Until Wednesday, Facebook shares had been at record highs as investors seemed to shrug off fears about data protection and probes into the hijacking of private information by the political consultancy Cambridge Analytica.

Chief Executive Mark Zuckerberg said Facebook has invested heavily in “safety, security and privacy” after being rocked by concerns of manipulation of the platform to spread misinformation, warning of an “impact” on profitability.

Some analysts however said it was too soon to write off Facebook or its growth prospects, and that the company may have simply been warning of the worst-case scenario.

“The company has a track record of resetting revenue growth and expense expectations only to turn around and exceed those expectations the following quarter,” said Gene Munster of Loup Ventures. “We suspect Facebook is sticking with its historical playbook and will, in fact, beat these lower numbers.”

A positive view

Richard Greenfield of BTIG Research said he remained upbeat on Facebook despite the abrupt forecast shift.

“Facebook is actively choosing to make less money, deprioritizing near-term monetization to drive engagement to even higher levels,” Greenfield said in a note to clients.

Greenfield said he could “sense the fear/panic in investors’ voices” after the Facebook analyst call, but that he had maintained his outlook.

“Mobile is eating the world and Facebook is a core holding to benefit from that shift,” he said.

RBC Capital Markets analyst Mark Mahaney said the drop creates a rare buying opportunity for Facebook shares.

“Facebook stills owns two of the largest media assets in the world [Facebook and Instagram] and the two largest messaging assets in the world [Messenger and WhatsApp],” Mahaney said in a note to clients, adding that he sees “no material change in marketer views of the attractiveness” of Facebook platforms. 
…

From: MeNeedIt

Since 2011, a year when Kentucky was flooded with 371 million doses of opioid painkillers, state officials have cracked down on pain clinics, sued pharmaceutical companies and limited how many pills doctors can prescribe.

The result is nearly 100 million fewer opioid prescriptions in 2017 — and an 11.5 percent increase in drug overdose deaths.

That’s the sobering findings of a new report from the Kentucky Office of Drug Control Policy in a state on the front lines of the nation’s opioid epidemic. The report says 1,565 people died from drug overdoses in 2017, a 40 percent increase in the past five years.

Deaths attributed to prescription painkillers and heroin are declining. But other drugs have taken their place. Fentanyl, a synthetic opioid, accounted for more than half of all the deaths. And methamphetamine has made a comeback, accounting for 360 deaths. That’s a 57 percent increase in just one year.

“We are in a crisis state,” Republican Gov. Matt Bevin said. “While we are putting money at it and while we are drawing attention to it, until we start to truly address this and look at underlying causes of these things and what is leading to this it is not going to be addressed.”

​42,000 deaths in US in 2016 

Nationally, opioids accounted for more than 42,000 deaths in 2016. States with the highest rates of drug overdose deaths that year were West Virginia, Ohio, New Hampshire, Pennsylvania and Kentucky, according to the Centers for Disease Control and Prevention.

Every year, Kentucky lawmakers have been passing more laws designed to address the opioid problem. They have increased penalties for heroin dealers. They have diverted more money to drug treatment programs. And they limited patients to a three-day supply of prescription painkillers unless a doctor gives them written permission for a larger amount.

State officials spent $500,000 to create 1-833-8KY-HELP, a hotline to connect people with treatment options. And they have spent thousands of dollars giving first responders naloxone, medicine that can reverse an opioid overdose.

Medicaid expansion helped

Anti-drug advocates celebrate those changes, but their celebration is tempered once a year when the new numbers come out detailing how many more people have died.

“Most of the things we do we realize are not going to take that immediate effect,” said Van Ingram, executive director of the Kentucky Office of Drug Control Policy. “It just never gets any easier.”

Many anti-drug advocates have credited the Affordable Care Act with helping people get treatment. The law, known as Obamacare, expanded the Medicaid program to give more than 400,000 Kentuckians health coverage. Many used that coverage to get drug treatment.

Bevin wants to require people in Kentucky’s expanded Medicaid population to get a job, go to school or do volunteer work to keep their coverage. He also wants to charge them small monthly premiums to model private insurance plans.

Critics have said the result will be fewer people on Medicaid with fewer treatment options. But Bevin’s plan would exempt people with substance abuse disorder from complying with the new rules. Those rules were supposed to go into effect July 1, but were blocked by a federal judge.
…

From: MeNeedIt

Since 2011, a year when Kentucky was flooded with 371 million doses of opioid painkillers, state officials have cracked down on pain clinics, sued pharmaceutical companies and limited how many pills doctors can prescribe.

The result is nearly 100 million fewer opioid prescriptions in 2017 — and an 11.5 percent increase in drug overdose deaths.

That’s the sobering findings of a new report from the Kentucky Office of Drug Control Policy in a state on the front lines of the nation’s opioid epidemic. The report says 1,565 people died from drug overdoses in 2017, a 40 percent increase in the past five years.

Deaths attributed to prescription painkillers and heroin are declining. But other drugs have taken their place. Fentanyl, a synthetic opioid, accounted for more than half of all the deaths. And methamphetamine has made a comeback, accounting for 360 deaths. That’s a 57 percent increase in just one year.

“We are in a crisis state,” Republican Gov. Matt Bevin said. “While we are putting money at it and while we are drawing attention to it, until we start to truly address this and look at underlying causes of these things and what is leading to this it is not going to be addressed.”

​42,000 deaths in US in 2016 

Nationally, opioids accounted for more than 42,000 deaths in 2016. States with the highest rates of drug overdose deaths that year were West Virginia, Ohio, New Hampshire, Pennsylvania and Kentucky, according to the Centers for Disease Control and Prevention.

Every year, Kentucky lawmakers have been passing more laws designed to address the opioid problem. They have increased penalties for heroin dealers. They have diverted more money to drug treatment programs. And they limited patients to a three-day supply of prescription painkillers unless a doctor gives them written permission for a larger amount.

State officials spent $500,000 to create 1-833-8KY-HELP, a hotline to connect people with treatment options. And they have spent thousands of dollars giving first responders naloxone, medicine that can reverse an opioid overdose.

Medicaid expansion helped

Anti-drug advocates celebrate those changes, but their celebration is tempered once a year when the new numbers come out detailing how many more people have died.

“Most of the things we do we realize are not going to take that immediate effect,” said Van Ingram, executive director of the Kentucky Office of Drug Control Policy. “It just never gets any easier.”

Many anti-drug advocates have credited the Affordable Care Act with helping people get treatment. The law, known as Obamacare, expanded the Medicaid program to give more than 400,000 Kentuckians health coverage. Many used that coverage to get drug treatment.

Bevin wants to require people in Kentucky’s expanded Medicaid population to get a job, go to school or do volunteer work to keep their coverage. He also wants to charge them small monthly premiums to model private insurance plans.

Critics have said the result will be fewer people on Medicaid with fewer treatment options. But Bevin’s plan would exempt people with substance abuse disorder from complying with the new rules. Those rules were supposed to go into effect July 1, but were blocked by a federal judge.
…

From: MeNeedIt

Since 2011, a year when Kentucky was flooded with 371 million doses of opioid painkillers, state officials have cracked down on pain clinics, sued pharmaceutical companies and limited how many pills doctors can prescribe.

The result is nearly 100 million fewer opioid prescriptions in 2017 — and an 11.5 percent increase in drug overdose deaths.

That’s the sobering findings of a new report from the Kentucky Office of Drug Control Policy in a state on the front lines of the nation’s opioid epidemic. The report says 1,565 people died from drug overdoses in 2017, a 40 percent increase in the past five years.

Deaths attributed to prescription painkillers and heroin are declining. But other drugs have taken their place. Fentanyl, a synthetic opioid, accounted for more than half of all the deaths. And methamphetamine has made a comeback, accounting for 360 deaths. That’s a 57 percent increase in just one year.

“We are in a crisis state,” Republican Gov. Matt Bevin said. “While we are putting money at it and while we are drawing attention to it, until we start to truly address this and look at underlying causes of these things and what is leading to this it is not going to be addressed.”

​42,000 deaths in US in 2016 

Nationally, opioids accounted for more than 42,000 deaths in 2016. States with the highest rates of drug overdose deaths that year were West Virginia, Ohio, New Hampshire, Pennsylvania and Kentucky, according to the Centers for Disease Control and Prevention.

Every year, Kentucky lawmakers have been passing more laws designed to address the opioid problem. They have increased penalties for heroin dealers. They have diverted more money to drug treatment programs. And they limited patients to a three-day supply of prescription painkillers unless a doctor gives them written permission for a larger amount.

State officials spent $500,000 to create 1-833-8KY-HELP, a hotline to connect people with treatment options. And they have spent thousands of dollars giving first responders naloxone, medicine that can reverse an opioid overdose.

Medicaid expansion helped

Anti-drug advocates celebrate those changes, but their celebration is tempered once a year when the new numbers come out detailing how many more people have died.

“Most of the things we do we realize are not going to take that immediate effect,” said Van Ingram, executive director of the Kentucky Office of Drug Control Policy. “It just never gets any easier.”

Many anti-drug advocates have credited the Affordable Care Act with helping people get treatment. The law, known as Obamacare, expanded the Medicaid program to give more than 400,000 Kentuckians health coverage. Many used that coverage to get drug treatment.

Bevin wants to require people in Kentucky’s expanded Medicaid population to get a job, go to school or do volunteer work to keep their coverage. He also wants to charge them small monthly premiums to model private insurance plans.

Critics have said the result will be fewer people on Medicaid with fewer treatment options. But Bevin’s plan would exempt people with substance abuse disorder from complying with the new rules. Those rules were supposed to go into effect July 1, but were blocked by a federal judge.
…

From: MeNeedIt

Since 2011, a year when Kentucky was flooded with 371 million doses of opioid painkillers, state officials have cracked down on pain clinics, sued pharmaceutical companies and limited how many pills doctors can prescribe.

The result is nearly 100 million fewer opioid prescriptions in 2017 — and an 11.5 percent increase in drug overdose deaths.

That’s the sobering findings of a new report from the Kentucky Office of Drug Control Policy in a state on the front lines of the nation’s opioid epidemic. The report says 1,565 people died from drug overdoses in 2017, a 40 percent increase in the past five years.

Deaths attributed to prescription painkillers and heroin are declining. But other drugs have taken their place. Fentanyl, a synthetic opioid, accounted for more than half of all the deaths. And methamphetamine has made a comeback, accounting for 360 deaths. That’s a 57 percent increase in just one year.

“We are in a crisis state,” Republican Gov. Matt Bevin said. “While we are putting money at it and while we are drawing attention to it, until we start to truly address this and look at underlying causes of these things and what is leading to this it is not going to be addressed.”

​42,000 deaths in US in 2016 

Nationally, opioids accounted for more than 42,000 deaths in 2016. States with the highest rates of drug overdose deaths that year were West Virginia, Ohio, New Hampshire, Pennsylvania and Kentucky, according to the Centers for Disease Control and Prevention.

Every year, Kentucky lawmakers have been passing more laws designed to address the opioid problem. They have increased penalties for heroin dealers. They have diverted more money to drug treatment programs. And they limited patients to a three-day supply of prescription painkillers unless a doctor gives them written permission for a larger amount.

State officials spent $500,000 to create 1-833-8KY-HELP, a hotline to connect people with treatment options. And they have spent thousands of dollars giving first responders naloxone, medicine that can reverse an opioid overdose.

Medicaid expansion helped

Anti-drug advocates celebrate those changes, but their celebration is tempered once a year when the new numbers come out detailing how many more people have died.

“Most of the things we do we realize are not going to take that immediate effect,” said Van Ingram, executive director of the Kentucky Office of Drug Control Policy. “It just never gets any easier.”

Many anti-drug advocates have credited the Affordable Care Act with helping people get treatment. The law, known as Obamacare, expanded the Medicaid program to give more than 400,000 Kentuckians health coverage. Many used that coverage to get drug treatment.

Bevin wants to require people in Kentucky’s expanded Medicaid population to get a job, go to school or do volunteer work to keep their coverage. He also wants to charge them small monthly premiums to model private insurance plans.

Critics have said the result will be fewer people on Medicaid with fewer treatment options. But Bevin’s plan would exempt people with substance abuse disorder from complying with the new rules. Those rules were supposed to go into effect July 1, but were blocked by a federal judge.
…

From: MeNeedIt

Mattel, home of Barbie dolls and Hot Wheels, is cutting 2,200 jobs in order to save money after the closing of U.S. toy retail giant Toys R Us.

The toymaker said the cuts amount to 22 percent of its nonmanufacturing employees worldwide. Mattel has about 28,000 employees.

It also plans to sell factories in Mexico as part of a $650 million cost-saving plan.

Mattel’s stock fell nearly 9 percent to $14.85 in after-hours trading Wednesday, after dropping 1 percent during the regular trading day.

Mattel reported a loss of $240.9 million in the second quarter, bigger than the $56.1 million loss in the same period a year ago.

Revenues fell nearly 14 percent to $840.7 million, below the $863.1 million analysts had predicted.

Ynon Kreiz, who was named CEO in April, said Wednesday that he expects the negative impact of Toys R Us closing to subside by next year.

The toymaker has lagged behind its competitors in digital media, analysts say, and is trying to catch up with other brands that have spawned apps, movies and TV shows.

Kreiz said the company is working closely with other retailers and looking for more ways to sell its toys online.
…

From: MeNeedIt

Mattel, home of Barbie dolls and Hot Wheels, is cutting 2,200 jobs in order to save money after the closing of U.S. toy retail giant Toys R Us.

The toymaker said the cuts amount to 22 percent of its nonmanufacturing employees worldwide. Mattel has about 28,000 employees.

It also plans to sell factories in Mexico as part of a $650 million cost-saving plan.

Mattel’s stock fell nearly 9 percent to $14.85 in after-hours trading Wednesday, after dropping 1 percent during the regular trading day.

Mattel reported a loss of $240.9 million in the second quarter, bigger than the $56.1 million loss in the same period a year ago.

Revenues fell nearly 14 percent to $840.7 million, below the $863.1 million analysts had predicted.

Ynon Kreiz, who was named CEO in April, said Wednesday that he expects the negative impact of Toys R Us closing to subside by next year.

The toymaker has lagged behind its competitors in digital media, analysts say, and is trying to catch up with other brands that have spawned apps, movies and TV shows.

Kreiz said the company is working closely with other retailers and looking for more ways to sell its toys online.
…

From: MeNeedIt

Mattel, home of Barbie dolls and Hot Wheels, is cutting 2,200 jobs in order to save money after the closing of U.S. toy retail giant Toys R Us.

The toymaker said the cuts amount to 22 percent of its nonmanufacturing employees worldwide. Mattel has about 28,000 employees.

It also plans to sell factories in Mexico as part of a $650 million cost-saving plan.

Mattel’s stock fell nearly 9 percent to $14.85 in after-hours trading Wednesday, after dropping 1 percent during the regular trading day.

Mattel reported a loss of $240.9 million in the second quarter, bigger than the $56.1 million loss in the same period a year ago.

Revenues fell nearly 14 percent to $840.7 million, below the $863.1 million analysts had predicted.

Ynon Kreiz, who was named CEO in April, said Wednesday that he expects the negative impact of Toys R Us closing to subside by next year.

The toymaker has lagged behind its competitors in digital media, analysts say, and is trying to catch up with other brands that have spawned apps, movies and TV shows.

Kreiz said the company is working closely with other retailers and looking for more ways to sell its toys online.
…

From: MeNeedIt

Mattel, home of Barbie dolls and Hot Wheels, is cutting 2,200 jobs in order to save money after the closing of U.S. toy retail giant Toys R Us.

The toymaker said the cuts amount to 22 percent of its nonmanufacturing employees worldwide. Mattel has about 28,000 employees.

It also plans to sell factories in Mexico as part of a $650 million cost-saving plan.

Mattel’s stock fell nearly 9 percent to $14.85 in after-hours trading Wednesday, after dropping 1 percent during the regular trading day.

Mattel reported a loss of $240.9 million in the second quarter, bigger than the $56.1 million loss in the same period a year ago.

Revenues fell nearly 14 percent to $840.7 million, below the $863.1 million analysts had predicted.

Ynon Kreiz, who was named CEO in April, said Wednesday that he expects the negative impact of Toys R Us closing to subside by next year.

The toymaker has lagged behind its competitors in digital media, analysts say, and is trying to catch up with other brands that have spawned apps, movies and TV shows.

Kreiz said the company is working closely with other retailers and looking for more ways to sell its toys online.
…

From: MeNeedIt

One girl between the ages of 15 and 19 is infected with HIV, the virus that causes AIDS, every three minutes of every day, a United Nations report found.

The report, released Wednesday at the International AIDS Conference in Amsterdam, said teenage girls are bearing the brunt of the AIDS epidemic, largely due to gender inequality.

Henrietta Fore, head of the U.N. Children’s Fund (UNICEF), called it a “crisis of health.”

“In most countries, women and girls lack access to information, to services, or even just power to say no to unsafe sex,” she said. “HIV thrives among the most vulnerable and marginalized, leaving teenage girls at the center of the crisis.”

The report said while there was significant progress in the battle against AIDS in other age groups, it is notably lacking among adolescents.

While AIDS-related deaths among all other age groups have been falling since 2010, those among children aged 15 to 19 have seen no reduction.

In 2017, 1.2 million 15- to 19-year-olds were living with HIV, three in five of them were girls, according to UNICEF.

Actress and activist Charlize Theron addressed the issue in her speech at the conference.

The AIDS epidemic is “not just about sex or sexuality,” she said. It is also about “the second-class status of women and girls worldwide.”

The solution, according to Angelique Kidjo, a UNICEF goodwill ambassador who contributed to the report, is education and economic empowerment.

“We need to make girls and women secure enough economically that they don’t have to turn to sex work,” she said. “We need to make sure they have the right information about how HIV is transmitted and how to protect themselves.”
…

From: MeNeedIt

They are arguably among the most recognizable figures in American pop culture, and by their daring exploits, capture the imaginations of fans around the world. They are the fictional characters we call superheroes. Comic book and movie fans say characters such as Superman, Spider-Man and Captain America hold values that are especially relevant in today’s social and political climate. Elizabeth Lee reports on the pop culture significance of superheroes at Comic-Con in San Diego.
…

From: MeNeedIt

They are arguably among the most recognizable figures in American pop culture, and by their daring exploits, capture the imaginations of fans around the world. They are the fictional characters we call superheroes. Comic book and movie fans say characters such as Superman, Spider-Man and Captain America hold values that are especially relevant in today’s social and political climate. Elizabeth Lee reports on the pop culture significance of superheroes at Comic-Con in San Diego.
…

From: MeNeedIt