The chief executive officers of Facebook Inc. (NASDAQ: FB), Amazon.com Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), and Google parent company Alphabet Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL) have all agreed to testify before the Congress in an ongoing antitrust investigation, CNBC reported Wednesday.What Happened Apple CEO Tim Cook was the last to come on board, as other companies provisionally agreed to the appearance of their CEOs if the other companies do the same, CNBC noted. Amazon, in a letter to the House Judiciary Committee last month, said CEO Jeff Bezos would be available to testify.Alphabet CEO Sundar Pichai, Facebook CEO Mark Zuckerberg, and Cook have all individually made congressional testimonies before, but this will be the first time for Bezos to testify before the Congress.According to CNBC, the hearing is likely to take place in July and could happen virtually due to the novel coronavirus (COVID-19) pandemic.Why It Matters The House Judiciary Committee last year launched a bipartisan inquiry into alleged anticompetitive practices at the largest technology firms and requested the companies to turn over all relevant documents related to acquisitions and mergers.Price Action Facebook shares closed 4.6% higher at $237.55 on Wednesday and were down nearly 0.2% in the after-hours session.Apple stock closed 0.19% lower at $364.11 per share, and Alphabet Class A shares closed 1.7% lower, both were unchanged in the after-hours.Amazon stock closed 4.35% lower at $2,878.70 per share.See more from Benzinga * Apple-Focused Enterprise Software Developer Jamf Files To Go Public * Lyft Resumes Self-Driving Test Rides * Apple Pushing Suppliers To Ensure 5G iPhone Range Isn't Delayed: Report(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. Read More...
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The chief executive officers of
Facebook Inc. (NASDAQ:
FB),
Amazon.com Inc. (NASDAQ:
AMZN),
Apple Inc. (NASDAQ:
AAPL), and Google parent company
Alphabet Inc. (NASDAQ:
GOOG) (NASDAQ:
GOOGL) have all agreed to testify before the Congress in an ongoing antitrust investigation, CNBC
reported Wednesday.” data-reactid=”19″>The chief executive officers of
Facebook Inc. (NASDAQ:
FB),
Amazon.com Inc. (NASDAQ:
AMZN),
Apple Inc. (NASDAQ:
AAPL), and Google parent company
Alphabet Inc. (NASDAQ:
GOOG) (NASDAQ:
GOOGL) have all agreed to testify before the Congress in an ongoing antitrust investigation, CNBC
reported Wednesday.
What Happened
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Apple CEO Tim Cook was the last to come on board, as other companies provisionally agreed to the appearance of their CEOs if the other companies do the same, CNBC noted. Amazon, in a letter to the House Judiciary Committee last month, said CEO Jeff Bezos would be available to testify.” data-reactid=”21″>Apple CEO Tim Cook was the last to come on board, as other companies provisionally agreed to the appearance of their CEOs if the other companies do the same, CNBC noted. Amazon, in a letter to the House Judiciary Committee last month, said CEO Jeff Bezos would be available to testify.
Alphabet CEO Sundar Pichai, Facebook CEO Mark Zuckerberg, and Cook have all individually made congressional testimonies before, but this will be the first time for Bezos to testify before the Congress.
According to CNBC, the hearing is likely to take place in July and could happen virtually due to the novel coronavirus (COVID-19) pandemic.
Why It Matters
The House Judiciary Committee last year launched a bipartisan inquiry into alleged anticompetitive practices at the largest technology firms and requested the companies to turn over all relevant documents related to acquisitions and mergers.
Price Action
Facebook shares closed 4.6% higher at $237.55 on Wednesday and were down nearly 0.2% in the after-hours session.
Apple stock closed 0.19% lower at $364.11 per share, and Alphabet Class A shares closed 1.7% lower, both were unchanged in the after-hours.
Amazon stock closed 4.35% lower at $2,878.70 per share.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="See more from Benzinga” data-reactid=”30″>See more from Benzinga
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.” data-reactid=”35″>© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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