1,418.50 +1.48 (0.10%)
After hours: 7:47PM EDT
|Bid||1,417.42 x 800|
|Ask||1,420.80 x 800|
|Day's Range||1,415.69 - 1,440.89|
|52 Week Range||1,013.54 - 1,532.11|
|Beta (5Y Monthly)||1.06|
|PE Ratio (TTM)||28.59|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1,527.52|
Security researchers have found a major vulnerability in almost every version of Android, which lets malware imitate legitimate apps to steal app passwords and other sensitive data. The vulnerability, dubbed Strandhogg 2.0 (named after the Norse term for a hostile takeover) affects all devices running Android 9.0 and earlier. It's the "evil twin" to an earlier bug of the same name, according to Norwegian security firm Promon, which discovered both vulnerabilities six months apart.
The Dow Jones futures were higher late Tuesday following the coronavirus stock market rally. Five top stocks near buys include Alphabet and Apple.
Google and its peer Facebook Inc had allowed their employees to work from home in early March following tough government-mandated restrictions to contain the coronavirus. Google said on Tuesday it would give each employee an allowance of $1,000, or the equivalent value in their country, to expense necessary equipment and office furniture, as it expects most of them to largely work from home for the remainder of the year.
According to a Tuesday filing with the Securities and Exchange Commission (SEC), SpaceX's latest funding round was a smashing success. Elon Musk, the CEO of carmaker and solar energy provider Tesla (NASDAQ: TSLA), founded SpaceX in 2002. In March, SpaceX filings indicated it had raised $221.2 million in funding from 11 investors, in response to a $250 million offering.
Sundar Pichai, chief executive of Google parent Alphabet Inc. , is penciling in July 6 as the date to reopen offices for employees who choose to return, according to a note he sent employees Tuesday. The initial wave would make use of roughly 10% of building capacity, with a goal of 30% capacity by September. Those who wish to remain working from home can expense up to $1,000 for equipment and furniture, Pichai told employees in a note Tuesday. "Assuming external conditions allow, we'll start to open more buildings in more cities," a Google spokesperson said, quoting from Pichai's note to employees. "This will give Googlers who need to come back to the office - or, capacity permitting, who want to come back - the opportunity to return on a limited, rotating basis (think: one day every couple of weeks, so roughly 10 percent building occupancy)." Shares of the search-engine giant are up 6% this year. The broader S&P 500 index is down 7.4% in 2020.
(Bloomberg Opinion) -- Jonathan Taffer, a long-time show business and nightclub impresario, has a grim message on this week's Masters in Business: A lot of bars and restaurants aren't going to make it through the coronavirus shutdown and long recovery.Taffer learned the ropes at the Troubadour, a legendary New York entertainment venue that booked acts such as Lenny Bruce, the Eagles, Elton John, Joni Mitchell, Van Morrison, Red Hot Chili Peppers and James Taylor.After seeing "Kitchen Nightmares," a reality TV show in which celebrity chef Gordon Ramsey tries to bail out troubled restaurants, Taffer pitched a nightclub-bar version. "Bar Rescue," with Taffer as host, now is in its seventh season and just aired its 200th episode.His prior foray into television was creating "NFL Sunday Ticket," predecessor to "NFL Red Zone."Taffer discusses the state of bars and restaurants under quarantine today, and he has some suggestions for what needs to be done to ensure more of them can survive. He estimates as many as 40% of all U.S. bars and restaurants will never reopen or will fail. He proposes that the federal government extend lines of credit to these businesses so they can ramp up inventory and hiring so they can re-open. He mentions purchasing Shift4 Cares gift cards as a tool to steer money to your favorite local bar or restaurant.His favorite books are here; a transcript of our conversation is here. You can stream and download our full conversation, including the podcast extras, on Apple iTunes, Spotify, Overcast, Google, Bloomberg and Stitcher. All of our earlier podcasts on your favorite pod hosts can be found here.Be sure to check out our next Masters in Business with Michael Lewis, author of "Moneyball," "The Big Short" and many others. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Barry Ritholtz is a Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
As Facebook, Amazon and Alphabet trade near all-time highs, fellow FAANG stock Apple has broken out and is now trying to polish up a new alternate buy point.
Managers of hedge funds and mutual funds are worlds apart on a lot of investing decisions, but do have some overlap. Investors may be able to learn from both.
(Bloomberg) -- YouTube has been deleting comments critical of China’s ruling party due to a software flaw, the company said on Tuesday in response to criticism of the practice.Users of the online video giant, a division of Alphabet Inc.’s Google, flagged that certain comments posted below videos critical of the Chinese Communist Party were quickly deleted.“This appears to be an error in our enforcement systems and we are investigating,” a YouTube spokesperson said in an email.The spokesperson said the issue was not the result of a policy change. Some comments posted in Chinese language, such as “communist bandit” and “50-cent party,” a derogatory term for the ruling party, were deleted within seconds. YouTube’s automatic filters eliminate comments that violate company policies. The Verge reported the issue earlier Tuesday.YouTube pulls comments that violate its Community Guidelines, such as spammy, hateful or harassing posts. Human moderators, who are often contractors, help with this. But during the Covid-19 lockdown, these workers have not been coming to the office, leaving YouTube relying more on automated systems to filter out the dross. The company warned in March there would be less content moderation and slower customer support.Read more: Machines Don’t Measure Up as Facebook, Google Workers Stay HomeGoogle removed its search engine from mainland China in 2010, citing security and censorship concerns. A Google project to create a censored search service for the country, called Dragonfly, was killed last year after protests from employees and U.S. politicians.YouTube does not operate in China, but the nation, like others, does ask Google to review some videos running online outside its borders. China’s government issued 127 requests to review 1,601 YouTube video links in the first half of 2019, some of which were related to hate speech and alleged government criticism, according to Google transparency reports. Two videos resulted in “channel termination,” the company said.(Updates with details on moderators in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Dow Jones Industrial Average gained momentum in the stock market today while Google stock triggered a key buy signal.
Google stock is among Tuesday's top stocks breaking out now. Alphabet shares rose 2% Tuesday morning in what appears to be a classic breakout into a key buy zone.
The major stock indexes were sharply higher early Tuesday on coronavirus vaccine hopes. Alphabet and Apple broke out past new buy points.
Alphabet's (GOOGL) Google unveils accessibility options to deliver enhanced user experience to the people with cognitive and physical disabilities.
(Bloomberg) -- Arm Ltd., whose technology is a key component of chips that run most of the world’s smartphones, is offering new designs aimed at boosting the performance of Android handsets.The U.K. company said its new A78 model will offer a 20% increase in performance over its predecessor and announced a new Cortex-X program that will help chipmakers customize their offerings to deliver bursts of as much as 30% more processing speed.Arm offers chip designs and licenses the fundamental code used by processors to communicate with software that runs phones. Most Android phone makers use chips from Qualcomm Inc. or Mediatek Inc. Samsung Electronics Co. and Huawei Technologies Co. use those chipmakers’ components and their own products. Apple Inc. is an Arm licensee, but designs its own A series processors that are typically rated the speediest available.The customization that Apple has been able to bring to its own combinations of software and hardware has allowed it to claim performance leadership over phones that run Alphabet Inc.’s Google Android operating system. Such claims feature heavily in Apple’s marketing of the iPhone.“The pace of increasing performance in smartphones exceeds that of any other computing device category in the industry today,” Arm said in a statement. “To address this insatiable demand for the highest performance possible, we’re introducing a new engagement program called the Cortex-X Custom program to give our partners the option of having more flexibility and scalability for increasing performance.”Cortex X will let chip and phone makers add a different mix of cores to the combinations of components that run major smartphone functions. Current designs feature uniform sets of cores and more power-efficient ones that are used to maintain background functions without draining the battery. Arm’s new offering changes this approach. An X core might kick in for a short time, for example, when a piece of software is demanding the absolute maximum performance the chip can provide.Cambridge-based Arm is a division of Japan’s SoftBank Group Corp. Like other companies that rely on the smartphone market, Arm is looking for ways to help spur demand for the devices. The market already had stalled before the Covid-19 outbreak curbed sales and disrupted supply chains. In the first quarter of 2020, smartphone shipments dropped 12% from a year earlier, according to IDC.In addition to more powerful and efficient designs for the handsets, the smartphone industry is banking on faster fifth-generation, or 5G, networks to persuade consumers to upgrade their phones.Arm is also offering a new graphics chip design that will handle video and gaming content better, and updated machine-learning capabilities to help with artificial intelligence workloads.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- DefinedCrowd, an Amazon.com Inc.-backed startup that provides data sets to train artificially intelligent speech programs, is setting its sights on a public listing in the next five years as voice interactions between humans and machines become more common.The Seattle-based company raised $50.5 million in a recent funding round led by existing investors, paving the way for an initial public offering within the next five years, Chief Executive Officer Daniela Braga said in an interview. The company declined to comment on its valuation.“It’s the road to an IPO,” Braga said, adding her company’s ambition is to support the development of AI so that people eventually will “communicate with machines the same way we do with humans.”Founded by Braga in 2015, DefinedCrowd curates voice and text data for clients including BMW AG and Mastercard Inc. to train virtual assistants and customer-service chatbots. The company designs the sets to be diverse and balanced, representing certain dialects or age ranges for audiences most likely to use the systems. Revenue grew 656% last year and is expected to triple this year, Braga said.Once the pandemic subsides, Braga said she expects businesses from a range of industries – including telehealth and education – to build AI personal assistants to better serve customers, something that might require more specific data that incorporates an industry’s vocabulary.Amazon, Apple Inc. and Alphabet Inc.’s Google have come under fire over revelations they used recordings of customers’ interactions with virtual assistants to train their AI systems. A former contractor working on Apple’s Siri transcription project in Ireland last week complained to European privacy authorities over the “massive violation of the privacy of millions of citizens.” The companies said they’ve made changes to provide users with more control over their data.By contrast, DefinedCrowd uses a crowdsourcing platform, Neevo, to generate data from a paid community of more than 290,000 members in 70 countries. Crowd members are asked to complete tasks like recording their voices or transcribing and annotating recordings rather than pulling data from customers who are using voice AI products.Braga said the newly raised funds will help the company expand its products and nearly double the number of employees in 2020. The company current employs around 268 people. Existing investors that participated in the funding round include Evolution Equity Partners, Kibo Ventures, Portugal Ventures, Bynd Venture Capital, EDP Ventures, and Ironfire Ventures as well as new investors Semapa Next and Hermes GPE.Amazon and Sony Corp., which is also an existing investor, didn’t increase their stakes in the latest round, Braga said, adding it was a strategic move not to increase the involvement of other companies as DefinedCrowd moves toward an IPO.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Dow Jones futures surged as vaccine hopes fuel the hot coronavirus market rally. Apple, Google are breaking out. Tesla and AMD are near buy points.
(Bloomberg Opinion) -- An effective unemployment-insurance system plays an essential role in a healthy economy. It helps people get by when they lose jobs. It improves productivity by supporting workers while they find the best match for their skills. It mitigates recessions by maintaining consumers’ spending power. It’s not a handout; it’s something people should be encouraged to use as quickly as possible when trouble hits.Amid the coronavirus crisis, millions of Americans have encountered something very different. Instead of receiving timely benefits, they’ve spent weeks waiting in epic lines, battling glitchy websites and navigating bureaucracies that in some cases were designed to keep them out. Their struggles demonstrate just how far the U.S. system has fallen, and how overdue it is for reform.The origins of today’s system can be traced to the New Deal. In a departure from the highly successful Social Security program, however, Congress left the management of unemployment insurance largely to the states. Beyond some general guidelines, such as the minimum amount of income to be taxed, states were — and still are — free to decide crucial details such as who qualifies for benefits, how much they receive and for how long.The result is a confounding inconsistency, in which benefits depend heavily on where workers happen to live and all too often fall short of what’s needed. Some states provide something close to the support that the system’s creators envisaged: Before the pandemic hit, Washington state’s regular unemployment program replaced an average 48% of wages for a maximum of 26 weeks. Others not so much: Florida’s replaced just 31% for 12 weeks, and even that was hard to get. The state’s daunting claims process ensured that only about 1 in 10 unemployed workers received anything — among the lowest rates in the nation.When recessions hit, Congress invariably supplements state benefits with emergency federal funds — as it did in March, adding $600 a week for an initial four months and extending coverage to gig workers, the self-employed and others who don’t typically qualify. Even this, though, has been unacceptably slow to reach people, because years of underinvestment have left too many state unemployment offices poorly staffed, ill-equipped and running on computer systems so old that it’s hard to find programmers to work on them (COBOL, anyone?). As of April 25, as many as 8 million of the 28 million people who had filed unemployment claims since mid-March were still waiting to be processed. All too often, breaking through the bureaucracy has become a full-time job.Such a broken system can’t be fixed overnight. Reducing the immediate backlogs will depend primarily on state efforts to ramp up staffing and find creative ways to loosen bottlenecks — as, for example, Rhode Island and New York have done in partnership with Amazon Web Services and Google. State by state, voters need to hold their governments accountable and demand more competent administration. That said, Congress can help by making more federal funds available in its next relief package, and by tying the money to measurable progress in processing and paying claims.Reform shouldn’t stop there. The federal government should get more involved — and even consider handing the system over to the Social Security Administration. This would entail a significant investment, but would also improve efficiency, provide more consistent benefits and free workers to move where the jobs are. At the very least, Congress should impose more stringent requirements — for coverage, access, and minimum and extended benefits — on state programs and empower the Labor Department to enforce them.Granted, any reform will require increasing the taxes that fund unemployment insurance, but not nearly as much as they’ve fallen in the past several decades. And the money will go toward an undeniably desirable end: a more resilient, prosperous and equitable nation.Editorials are written by the Bloomberg Opinion editorial board.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Facebook, Inc. (FB) Apple (AAPL), Amazon.com, Inc. (AMZN), Netflix, Inc. (NFLX) and Alphabet, Inc.'s (GOOGL) Google have outperformed during the coronavirus pandemic.
Latvia aims to become one of the first countries to launch a smartphone app using a new toolkit created by U.S. tech giants Apple and Alphabet's Google to help trace coronavirus infections. Early success of tracing apps in countries like Singapore and Australia has been patchy because Apple's iPhone does not support their approach to using Bluetooth short-range radio as a proxy for measuring the risk of infection. Latvia's Apturi Covid (Stop Covid) app is, by contrast, based on technology launched last week by Apple and Google, whose iOS and Android operating systems run 99% of the world's smartphones.
Contact tracing is a way of life in Wuhan, as well as other regions in China. It isn’t clear if America will adopt a similar infection mitigation strategy.
(Bloomberg) -- Silicon Valley’s main data-protection watchdog in Europe came under attack from one of the region’s leading privacy advocates for taking too long to wrap up probes into Facebook Inc. and its Instagram and WhatsApp units.Max Schrems’s group Noyb in an open letter on Monday called on European Union authorities to “take action” against the Irish Data Protection Commission, which has yet to issue any significant fines exactly two years after strict EU rules empowered the regulator to levy hefty penalties for serious privacy violations.The letter comes just days after the Irish authority said it’s edging closer to delivering its first major sanctions under the EU’s General Data Protection Regulation after finalizing a draft decision in a probe concerning Twitter Inc. and completing a further procedural step in a separate probe concerning WhatsApp.“With about 10,000 complaints in two years and no fines at all against private actors, it is obvious that Ireland does not effectively implement EU law,” Schrems’s group said in the letter.Schrems also accused the regulator of “secret cooperation” with Facebook during 10 meetings before the GDPR took effect -- putting the Irish authority in a situation where it is now “structurally biased because it is essentially reviewing its own legal advice to Facebook on how to bypass” rules on getting user consent.“There were no ‘secret meetings’ held between the DPC and Facebook,” Graham Doyle, deputy commissioner at the data protection commission, said in an email. “We regularly engage and meet with companies from all sectors as part of our regulatory enforcement and supervision functions” just as other EU data regulators do.GDPR empowered regulators to levy penalties of as much as 4% of a company’s annual revenue for the most serious violations. The biggest fine to date was a 50 million-euro ($54.5 million) penalty for Google by France’s watchdog CNIL.(Updates with response from Irish authority in final paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.