1,910.90 -3.00 (-0.16%)
Pre-Market: 7:20AM EDT
|Bid||1,910.06 x 800|
|Ask||1,907.50 x 3000|
|Day's Range||1,901.33 - 1,916.86|
|52 Week Range||1,307.00 - 2,050.50|
|Beta (3Y Monthly)||1.73|
|PE Ratio (TTM)||79.90|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Fedex cuts prices to attract online retailers after ending its air shipping contract with Amazon, according to the Wall Street Journal. Yahoo Finance's Seana Smith and Jared Blikre discuss.
11-year-old CoderBunnyz creator Samaira Mehta created board games to help kids learn how to code, with over 15,000 games sold. She joins Yahoo Finance's Zack Guzman, Heidi Chung, and Reggie Wade, along with Michelle McKinnon, Payne Capital Management Senior Wealth Advisor, to discuss.
Google is being eyed by lawmakers who want to break it up.
U.S. stock futures declined on Tuesday as investors were taking a defensive stance on risk ahead of this weekend's G-20 summit in Japan. With Donald Trump announcing a new set of sanctions on Iran, and U.S. officials downplaying expectations for a breakthrough in talks with Beijing from the upcoming G-20 meeting with China's Xi Jinping, investors appeared unwilling to reach for risk in the absence of headline drivers on trade or central bank support. Powell will be interviewed by New York Times senior economics correspondent Neil Irwin at the Council on Foreign Relations in New York at 1 p.m. ET.
Which big tech stocks are looking good in 2019 as they approach new highs, and which ones look like they may be falling behind?
(Bloomberg Opinion) -- For the past three decades, the U.S. has experienced an urban revival. As old-line manufacturing gave way to knowledge industries, educated workers and their employers clustered in and around big cities. At the same time, crime fell nationwide, making cities safer, while the internet facilitated urban life in a variety of ways.No metropolis typified this renaissance better than New York. In the mid-20th century the city became notorious for crime and decay, and its population in 1990 was lower than it had been a half-century earlier. But in the next decade, violence began a spectacular decline that would make New York as safe as some European cities:At the same time, the city’s high-value service industries -- finance, media, advertising and others -- became engines of fabulous wealth. In 2015 it was estimated that the New York metropolitan area had an economy larger than Canada, and was responsible for about $1 out of every $12 of economic value created in the U.S. The incomes of people in and around the city were consistently higher than those of the nation as a whole:Meanwhile, the city became a cultural touchstone, with countless television shows glamorizing the freewheeling lifestyles of its inhabitants, and immigrants pouring in from all over the globe. It is also one of the world’s most diverse metropolises, with inhabitants speaking more than 800 languages. If any city can claim to be the center of the world, it’s the Big Apple.But just as New York was the prime example of the U.S.’s urban revival, it may now be emblematic of the challenges facing the country’s superstar cities. The main problem comes from the dependence of knowledge industries on highly educated workers. As salaries soared for skilled professionals, rents did too, squeezing workers in traditional middle-class jobs in offices and factories. The result has been increasing inequality within cities, including New York.That may be one reason the city saw a rare decline in population in 2018:Usually, people tend to move from New York to other parts of the country in any given year, but this has been more than cancelled out by a combination of natural population increase and immigration. But not this year.Some cities could accommodate the challenges of the urban revival by building more housing in order to keep rents down. But New York will have a harder time building its way out of the problem, because it’s already the most densely populated city in the nation:This doesn’t mean New York is full. Tokyo, which is even denser, has managed to hold down rents by building ever more living space. But housing needs to be matched by transit capacity, so people can get around the city efficiently. And here, New York has a special disadvantage -- extremely high infrastructure costs. Although the reasons are not precisely known, it’s a fact that New York has a much harder time than other major cities building new train lines and even maintaining existing ones. That will make it difficult to accommodate a much larger population.Rather than push for increasing its housing stock, the U.S.’s biggest city has decided to attack the rent problem with a more traditional method -- rent control. The New York state legislature just passed a bill expanding the use of ceilings on rent increases and making it a crime to forcibly evict tenants. Meanwhile, some of the city’s residents have tried to stem the growth of knowledge industries. Earlier this year, Amazon.com Inc. cancelled its plan for a second headquarters in New York after strenuous opposition from a vocal minority, including Representative Alexandria Ocasio-Cortez.In the short term, these measures might bring relief to the city’s beleaguered renters. In the long run, they may weaken the foundations of the city’s recently recovered prosperity. Rent control will probably prevent landlords from adding new housing supply, raise prices for non-rent-controlled units, and cause existing units to fall into decay. Meanwhile, activist politics might make some of the city’s important technology employers wary of expanding.Of course, New York can still rely on its old standbys -- finance, publishing and other services. But with the growth of automated trading and other technologies that allow financial services to be provided remotely, there might be less incentive for big banks to cluster in New York City. Finance has been declining as a share of the city’s total employment for a while:Meanwhile, the news and advertising industries are experiencing their own woes. If tech shuns an increasingly hostile political scene, the city’s traditional mainstays may not be enough to sustain the kind of prosperity achieved in the 1990s and 2000s.New York isn't in imminent danger of decline. It is still a remarkably safe city with a diversified economy, plenty of educated workers and unique cultural appeal. But its heyday of growth may be over. And that may herald a similar transition for the country’s other superstar cities.To contact the author of this story: Noah Smith at firstname.lastname@example.orgTo contact the editor responsible for this story: James Greiff at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Noah Smith is a Bloomberg Opinion columnist. He was an assistant professor of finance at Stony Brook University, and he blogs at Noahpinion.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
The move underscores the extent to which Amazon has become a serious competitor to existing logistics providers. But it also shows that FedEx believes it doesn’t need Amazon’s high-volume business to thrive.
(Bloomberg) -- I’m woken up by an alarm on a home speaker designed by Yandex NV. I go to work in Yandex taxi listening to the company’s music-streaming service. My lunch is delivered by Yandex.Eats. I buy sneakers on the company’s Beru marketplace, and catch up on a series on its Kinopoisk smart-TV app in the evening.You get the picture. Not so long ago, most decisions in Russia were decided by the state. Now, Russia’s largest tech company can cater to your every need.A tech company attempting to offer a range of services to keep users attention is not new. Amazon.com Inc. and Alphabet Inc. have been launching new business from internet balloons to healthcare. But few offer the breadth of services offered by Yandex.Five years ago, Yandex was just a search engine trying hard to fend off Google in its local market. Since then it has bought Uber Technologies Inc.’s Russia business, built its voice assistant into cars and home appliances, and more than doubled its revenue. Yandex now claims to have 108 million monthly users, which is about 75% of Russia’s population.Yandex’s expansion -- still focused almost entirely in Russia -- has allowed it to gather significant amount of data on its users, who have to log into each service using the same ID. This has allowed Yandex to offer highly personalized services. In Yandex’s car-sharing app, the dashboard welcomes you by name, turns on your favorite music and maps a route to your home.At a time where tech giants are attempting to convince users they take privacy seriously, Yandex’s Chief Financial Officer Greg Abovsky argues that, despite having expanded to multiple services, it doesn’t know much more about its users than Google does (which could be argued is a lot)."To respond to users’ personal needs, we need not only the data that you tell Yandex directly – like your name and age - but also technical data, including cookies, IP-addresses and GPS coordinates," said Abovsky. “It’s important that these data are processed in anonymized form and automatically - no one can get access to it."Perhaps unsurprisingly, Yandex’s user data has attracted the attention of the Russian government. The company’s email and cloud-storage services are deemed "information-dissemination operators," and monitored by communications watchdog Roskomnadzor, while a 2016 law required internet service providers and mobile telephone operators to store records of users’ online activities for up to six months.Russian authorities also have a legal right to request all your data stored by Yandex -- whom you sent e-mails to, what files you downloaded and possibly everything else linked to your user ID. So far, Yandex has pushed back against government demands to turn over encryption keys that would allow the security services to monitor users’ private data."These additional data it has on users may become important pieces of the puzzle for some advertisers or law-enforcement agencies," said Artem Kozlyuk, head of Roskomsvoboda, a civil-rights lobby group.Yandex’s growth has also led it to shed the role of tech underdog. Back in 2015 it complained to Russia’s antitrust watchdog that Google was abusing its dominance on mobile devices, arguing that Google required phone makers to install a bundle of its services as a pre-condition. Yandex eventually won the case.Now, Yandex is bundling its own services. Last year it introduced Yandex.Plus - somewhat similar to Amazon Prime. Users subscribe to Yandex.Music for $2.69 a month, also gaining access to Yandex’s online-cinema Kinopoisk and discounts for Yandex.Taxi, car-sharing, Beru marketplace and cloud storage. Over 2 million people already use Yandex’s paid subscriptions, most of them via the bundle.When asked if this puts competition for smaller music, ride-hailing or other apps at risk, Abovsky responded: "No. It’s a commercial bundling. We don’t force it on others, consumers are willing to buy or not to buy our bundle. It’s incorrect to compare this with Google’s bundling when they forced phone makers to pre-install only Google services and no one else’s."A few years after shifting from a search engine to a tech company, Yandex is still looking to maintain its rapid growth, with user data at the heart of its business model. Revenue has more than doubled from 60 billion rubles in 2015 to 128 billion rubles ($2 billion) last year.Yandex already makes almost 30% of its revenue outside of internet search. Yandex is now seeking to take on traditional TV. From May, it started selling Module, a $32 device similar to Google’s Chromecast that’s plugged into a TV-set, so that users can watch Yandex.Live streaming channel with content personalized for them, instead of regular TV channels.Yandex has been experimenting with creating its own social network and messenger, but without much success, Abovsky admits. But Yandex.Zen -- a personalized content feed, may make over $100 million revenue this year, he said."Painters polish their skills by copying other painters,” said Abovsky. “The same happens in tech, that’s how progress makes its way."To contact the reporter on this story: Ilya Khrennikov in Moscow at firstname.lastname@example.orgTo contact the editors responsible for this story: Giles Turner at email@example.com, Torrey ClarkFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
It was the video game version of patting your head and rubbing your tummy — and I didn’t feel very good at it. — and on the surface, Akili’s game looks no different. Eddie Martucci, Akili’s founder and chief executive, decided to use his PhD in drug design to do something very different: create the world’s first prescription video game.
FDX is expected to report $17.8 billion in revenue with EPS estimates of $4.81, representing 3% sales growth but an earnings per share decrease of 18.6% year-over-year.
(Bloomberg) -- Apple Inc. is significantly increasing its footprint in Seattle as its expands on a previously announced plan to boost hiring, bringing an additional 2,000 jobs to the area in the next five years.The iPhone maker signed a lease for office space at 333 Dexter, a 660,000-square-foot (61,300-square-meter) development in the South Lake Union neighborhood being built by Kilroy Realty Corp., according to the office of Mayor Jenny Durkan.“These new jobs confirm what we already knew: We have the best talent and city anywhere,” Durkan said in an emailed statement. “Apple’s expanded footprint in Seattle is another example of the growing opportunity that exists for residents of Seattle and the economic powerhouse our city has become.”For years, cranes have dotted the Seattle skyline as builders rushed to accommodate a swelling population and rapidly growing tech firms, led by Amazon.com Inc. That company now employs more than 45,000 at its headquarters in town and occupies about a fifth of the city’s prime office real estate. Other firms have been muscling in to recruit from Seattle’s deep well of engineers. Both Google and Facebook Inc. are leasing offices near 333 Dexter.Apple has a relatively modest presence in the city of about 500 employees. In December, the company said that it planned to add 1,000 jobs in the area over three years as part of a national expansion that also includes spending $1 billion on a new campus in Austin, Texas.To contact the reporter on this story: Noah Buhayar in Seattle at firstname.lastname@example.orgTo contact the editors responsible for this story: Rob Urban at email@example.com, Dan Reichl, David ScheerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.