Commodity Channel Index
|Bid||1,427.86 x 1200|
|Ask||1,428.26 x 800|
|Day's Range||1,418.39 - 1,437.96|
|52 Week Range||1,013.54 - 1,532.11|
|Beta (5Y Monthly)||1.06|
|PE Ratio (TTM)||28.84|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1,527.52|
Investors had breathed a sigh of relief on Friday when President Donald Trump chose not to mention sanctions or tariffs at a press conference about China’s new security law in Hong Kong. Futures traders had initially shrugged off a weekend of protests against police killings of black people. After opening lower the Dow Jones Industrial Average (DJIA) was 0.3% up in early trading.
The death of African American George Floyd at the hands of a Minneapolis police officer has triggered protests in multiple U.S. cities. While mostly peaceful, demonstrations grew violent in some cities, promoting the deployment of the National Guard as some protestors set vehicles and buildings on fire, engaged in acts of vandalism and looted stores. U.S. Google & YouTube homepages said, "We stand in support of racial equality, and all those who search for it.""For those feeling grief, anger, sadness & fear, you are not alone," said CEO Sundar Pichai in a statement.
The acronym FANG refers to four high-growth internet stocks. (Sometimes they're called FAANG stocks.) Here's what investors should know about FANG stocks and why they might be worth a look.
S&P Chief Economist Says $2.1 Trillion More Spending Ought to Do The Trick When is there ever too much government spending? According to S&P chief economist Beth Ann Bovino, it looks like never, because she wants $2.1 trillion more in government spending, despite multitrillion dollar deficits already that only look set to get worse. She […]The post Market Morning: S&P Says More Spending, Hong Kong Ping Pong, Riots, Food Prices Soar appeared first on Market Exclusive.
(Bloomberg) -- Google has taken aggressive action to scrub coronavirus conspiracies from its news service and YouTube, at a time when social media companies have come under intense scrutiny for their potential to spread dangerous disinformation about the global pandemic. It has begun labeling misleading videos aimed at U.S. audiences, and has joined with other major internet companies to coordinate a response against what the World Health Organization has described as an “infodemic.”But Google is also placing advertisements on websites that publish the theories, helping their owners generate revenue and continue their operations. In at least one instance, Google has run ads featuring a conspiracist it has already banned.One ad for Veeam, an independent Microsoft 365 backup service, appeared atop one website featuring an article that includes false claims that Microsoft Corp. founder Bill Gates’s charitable efforts on pandemics and vaccines are a part of a world domination plot. A Microsoft Teams ad ran with a French language article that alleged Gates tried to bribe Nigerian lawmakers to vote for a Covid-19 vaccine. An ad for the telecommunications provider O2 showed up on another article linking the virus to 5G networks, a common conspiracy theory. The ads were placed through Google’s automated system for matching marketers with websites. The Global Disinformation Index, a research group, recently reviewed 49 sites running baseless claims about the virus, including the stories about Gates and 5G networks. Alphabet Inc.'s Google placed ads on 84% of them, generating the majority of the $135,000 in revenue the sites earned each month, according to the Global Disinformation Index’s estimate.Google has faced criticism for funding hyper-partisan publishers such as Breitbart News in the past. The company has avoided making blanket policies about which publishers can run its ads. Instead, it removes ads only from the specific pages carrying content that violates its content policies. It also allows advertisers to blacklist specific sites. The company has been particularly reluctant to take action with political ramifications now that the Trump administration is taking concrete action to punish companies that it argues show bias against conservative viewpoints. Christa Muldoon, a Google spokesperson, said none of the web pages flagged by the Global Disinformation Index violated its policies. “We are deeply committed to elevating quality content across Google products and that includes protecting our users from medical misinformation. Any time we find publishers that violate our policies, we take immediate action,” she said.‘A Huge Issue’ Google's network ad system is a massive machine for automatically generating money for its owner. Websites apply for Google's program, and they add display banners and pop-ups advertisements to their pages. Google's system automatically fills these slots with digital marketing and takes about 30% of the revenue they generate. Although Google offers a level of control to its marquee advertisers, the self-service system sometimes places ads for brands on websites with which they’d prefer not to be associated.Google’s systems have recently placed ads for eBay Inc., Oracle Corp. and HBO on websites like activistpost.com, thegatewaypundit.com and thewashingtonstandard.com, all of which routinely publish conspiracy theories, according to the Global Disinformation Index.Another company that placed ads on the sites in the study was Criteo SA. When contacted by a reporter about an ad mentioned in the report, Luca Sesti, a spokesman for the company, said it was breaking off its commercial relationship with the website in question, thegatewaypundit.com. “In the event we find a partner is not adhering to our policies, we will terminate the relationship immediately,” he said. “We recognize that the dissemination of inaccurate information through ‘fake news’ is a very real problem on the internet.”Often the ads the researchers found made for uncomfortable pairings. The O2 ad ran alongside an article promoting false claims that 5G wireless technology causes people to experience symptoms of coronavirus because it "poisons their cells." “This is a huge issue that Google needs to tackle now,” said Craig Fagan, program director at the Global Disinformation Index. “It is creating a financial incentive for these websites to continue promoting the conspiracy theories. You go to these sites and there are ads galore, pop ups everywhere. The ads are there to get clicks, monetizing each reader.”A Banned Provocateur ReturnsIn one case, Google accepted ad revenue from a company promoting a conspiracy theorist it tried to remove from its own platforms. In early May, YouTube removed the account of David Icke, a British provocateur who often ranted about "Rothschild Zionists" controlling global institutions and has questioned the efficacy of vaccines. In a recent interview about Covid-19, he said that 5G makes people sick and sends out signals that can control their emotions. Icke had posted on YouTube for more than 14 years.Guillaume Chaslot, a former Google engineer and founder of the research group AlgoTransparency, estimated that Icke’s YouTube channel gained 200,000 subscribers during March and April, when he largely touted unproven theories about the virus. Chaslot's research tracks how often YouTube's recommendation system sends viewers to particular videos and channels. In a 10-year span, YouTube promoted Icke's videos about a billion times.YouTube removed Icke’s account for violating its rules about coronavirus disinformation. Since then, Icke has appeared on other YouTube channels and in YouTube ads for Gaia Inc., a streaming network that promotes yoga and alternative healing. "We have to break out of this perceptual prison," Icke said in a voice-over during an ad that ran weeks after his ban. Gaia's network runs several shows featuring Icke. On a recent earnings call, Gaia executives said YouTube had become a "pretty significant" way to get new subscribers.Gaia didn’t respond to requests for comment. Imran Ahmed, chief executive officer of the Center for Countering Digital Hate, a U.K. nonprofit, argues that social media platforms should remove Icke entirely. “In a pandemic, lies cost lives," said Ahmed. "Misinformed people put us all at risk through their reckless actions.” His group estimated that Icke earned about $177,000 a year from YouTube ads before the ban.Jaymie Icke, a spokesman for Icke's video service Ickonic, said the earnings estimate was inaccurate because YouTube has restricted ads on controversial videos for several years. "Revenue is nothing and has been for a while," said Icke, who is David Icke’s son. "They removed all ads from the channel two months prior to the full deletion anyway. So that figure has simply been made up."Icke and others blocked from the site are allowed to appear on other accounts and in ads as long as those videos don't break rules, according to Muldoon, the Google spokesperson. While web giants like Google have tried to handle conspiracy theories on their user-generated services, they have also tried to reform their ad systems to handle the growing problem. In October 2018, Google and Facebook Inc. signed a European Union code of conduct on disinformation that contained a commitment to “improve the scrutiny of advertisement placements to reduce revenues of the purveyors of disinformation.”According to Fagan, however, the issue remains a blind spot for the companies. Some of the conspiracy websites attract a large number of visitors, promoting their content across social media platforms.The 49 websites promoting Covid-19 conspiracies that were reviewed by the Global Disinformation Index were just a small sample and offer a snapshot of a much larger program, Fagan said. Last year, the Global Disinformation Index published a study of about 20,000 websites promoting disinformation and conspiracy theories. It estimated that they were generating $235 million every year in advertising revenue, approximately $86.7 million of which was paid out by Google.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.
Alphabet Inc’s Google (GOOGL) has decided to delay the launch of the beta version of its Android 11 software mobile operating system because of the protests and riots across the U.S.“We are excited to tell you more about Android 11, but now is not the time to celebrate,” Google wrote in a Twitter post on its Android page. “We'll be back with more on Android 11, soon.”Google said that it is postponing the release, which was scheduled for June 3. The presentation of the new software had already been delayed due to the coronavirus pandemic.Nationwide protests have been sparked in recent days following the killing of George Floyd, a black man from Minneapolis, by a police officer. The violent riots have prompted U.S. retailers from Apple Inc. (AAPL) and Amazon.com Inc. (AMZN) to Target Corp. (TGT) to close many stores and curtail some business operations.Shares in Google have surged 36% since March 23 erasing all of their losses suffered earlier this year. The stock rose 1.1% to $1,433.52 as of Friday’s close.In view of the recent rally, the stock’s upside potential is now expected to be more limited. The average analyst price target of $1,488.09 indicates shares may appreciate a mere 3.8% in the coming 12 months. (See Alphabet’s stock analysis on TipRanks).Five-star analyst Brian Nowak at Morgan Stanley last month lifted his target price on the stock to $1,400 from $1,310 and maintained a Buy rating.“Ad declines are likely to be somewhat less severe than expected and Alphabet is focused on efficiency/innovation to emerge stronger post downturn,” Novak wrote in a note to investors. “While the economy remains volatile (and the pace of the macro recovery will ultimately determine the pace of Alphabet’s ad recovery), [the company] also spoke to some very early signs of users returning to commercial behavior and said that as of now they have not seen a further deterioration in the mid teens year-over-year search revenue declines.”Overall, the Wall Street rating outlook for Google remains bullish. The Strong Buy consensus boasts 33 Buy ratings with 2 analysts assigning Hold ratings, according to TipRanks data.Related News: Google Mulling Purchase of Stake in Indian Vodafone Idea Google Faces Arizona Lawsuit Over ‘Unfair’ Location Data Storing Microsoft Seeks $2B Stake In India’s Jio Platforms- Report More recent articles from Smarter Analyst: * Eli Lilly’s Taltz Injection Gets FDA Nod For Inflammatory Spine Arthritis Treatment * Zynga Snaps Up Peak For $1.8B In Its Largest Deal To Date; Shares Up 7% * Eli Lilly Starts Dosing Patients In World’s First Covid-19 Antibody Trial * Drugmaker Abbvie Teams Up With Jacobio To Develop Cancer Inhibitor
Google (GOOGL) is considering a buying a 5% stake in Indian telecommunications provider Vodafone Idea, which itself is a partnership between UK-based Vodafone and India’s Aditya Birla Group.This comes on the heels of Facebook's (FB) announcement last month that it had purchased a 9.9% stake in India’s largest mobile telecom provider, Jio Platforms, for $5.7 billion. The deal was meant to provide Facebook direct access to Jio’s 370 million subscribers and a foothold into India's growing mobile market.According to reports, Google has also held talks about acquiring a stake in Jio, with discussions still ongoing.Google's Android mobile operating system is extremely popular in India, as is the mobile payments service it launched in India in 2017.For Vodafone Idea, an investment by Google could increase the likelihood of its survival. Its future has been uncertain since India’s Supreme Court ruled in October that it owed billions of dollars in back taxes.Google parent Alphabet's stock has done quite well this year, rising 28%, even after falling significantly in early March. Wall Street consensus sees Alphabet as a Strong Buy, and the average analyst 12-month price target of $1488 leaves just over 3% upside potential. It closed on Friday at $1433 per share. (See Alphabet stock analysis on TipRanks).In a recent note to clients, Canaccord Genuity's Maria Ripps wrote: "We see Google likely benefiting as the pandemic could be a tailwind for ad budgets shifting online, momentum in Google Cloud supporting consolidated growth, and Other Bets providing optionality for patient investors. This, coupled with prudent expense management, a strong balance sheet, and share repurchases, gives us comfort around Alphabet's ability to successfully withstand this [coronavirus-related] near-term disruption."Related News: KKR Invests $1.5 Billion in Reliance’s Jio Platforms In Biggest Deal In Asia Alibaba Scores Earnings Beat With Revenue Surging 22% Y/Y Facebook Workplace Hits 5 Million Paid Users As Remote Work Demand Rises More recent articles from Smarter Analyst: * Eli Lilly’s Taltz Injection Gets FDA Nod For Inflammatory Spine Arthritis Treatment * Zynga Snaps Up Peak For $1.8B In Its Largest Deal To Date; Shares Up 7% * Eli Lilly Starts Dosing Patients In World’s First Covid-19 Antibody Trial * Drugmaker Abbvie Teams Up With Jacobio To Develop Cancer Inhibitor
As protests stemming from the death of George Floyd wrack the nation, a number of leading tech companies have offered their support for demonstrators and funding for social-justice organizations.
It goes without saying that two of the very best companies in the world are Amazon.com (NASDAQ: AMZN) and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), the parent company of Google. In fact, Google and Amazon ranked Nos. Amazon and Alphabet tend to compete more and more with each other as time marches on, but each company still has a dominant market share of their respective core businesses: e-commerce for Amazon; digital advertising for Google.
President Donald Trump’s increasingly heated feud with Twitter may be good for social media impressions, but may not be legally enforceable, according to experts.
If you rebuild the workplace after COVID-19, will the workers ever come back? In Silicon Valley, the answer from many tech companies is that many won’t, and maybe that is a good thing.
With coronavirus keeping most people housebound, driverless cars have indeed proved to be an asset. However, it will still take considerable time to bring AVs into the mainstream.
The Internet Ecosystem Innovation Committee (IEIC), an independent committee that promotes internet diversity and resilience through the formation of new global internet nexus points, today announced that Dr. Vint Cerf, Google Chief Internet Evangelist and co-Founder of the Internet, will deliver the keynote address at the IEIC Virtual Summit Series Event I on Tuesday, June 2 at 2:00 pm ET.
(Bloomberg Opinion) -- The story of Covid-19 has been pretty bleak, from the scale of the novel coronavirus’s death toll to the pain of draconian lockdowns imposed by, in many cases, unprepared and under-resourced governments.But several weeks after the tentative lifting of tough stay-at-home restrictions in several major European countries, there are reasons to be optimistic about the risk of a second wave of cases — with a dose of appropriate caution.In France, the government is forging ahead with the reopening of bars, restaurants, museums, parks and cross-country travel after the first phase of “deconfinement” went much better than expected. The daily increase in cases here averaged around 0.5% last week, according to Bloomberg data, and the virus’s basic reproduction rate is below 1, according to the French government and other estimates based on hospitalizations.Elsewhere, Italy, Germany and Spain have also avoided serious flare-ups in cases and deaths as restrictions are eased. It’s similar in Austria and Denmark, which lifted lockdowns back in April. Weekly confirmed cases show the continuation of a declining trend. That’s despite people going out and about once again, albeit with face masks and hand gel, and a stay on big-crowd events for now.Retail and recreational footfall in these countries, which was near zero during the lockdown, has recovered to around 50% below the pre-crisis baseline, according to Google data. In parks and public spaces, it’s back to normal. Consumers are even booking flights again. Visions of a radically new society emerging from the rubble of Covid-19 may have to be rethought.There’s no consensus yet on why things are going relatively well. Some experts say the virus itself may have changed, possibly weakened by the summer heat or mutating into a more benign form. Society has changed, too. More social distancing, more handwashing and more testing and contact tracing are proving their worth.Whatever the reason, doctors are increasingly voicing relief and optimism. “Of course, we shouldn’t lower our guard,” French medical professor Frederic Adnet said last week. “But right now, it’s as if the epidemic was behind me.” On Friday, Christian Drosten, a virologist at the Charite University Hospital in Berlin, told Der Spiegel he was confident the outbreak could be kept under control without another lockdown: “There is theoretically a possibility that we can forego a second wave.”None of this means that the virus has disappeared. Areas such as Latin America are still being hit hard. The World Health Organization says the strength of the virus in the developing world indicates we are globally still in the first wave, rather than past it.Nor does it make sense for all countries to lift restrictions to the same extent. Scientists in the U.K., where daily case growth has been higher than in neighboring countries, have expressed concern about curbs being eased too fast. It’s pretty unlikely we are anywhere near herd immunity, and if the virus is a seasonal one, a return in the winter months can’t be ruled out.Still, countries in Europe are proving they can return to some semblance of normal life while containing the virus’s spread, and this is a very positive development. We’re far better prepared to contain “super-spreader” events than at the beginning of the epidemic, when the virus thrived below the surface. Earlier this month, more than 100 infections were traced to a service in a German church, which closed its doors as a result.And economic activity is recovering, as captured by the quite rational rally in financial markets. Bank of America analysts expect key indicators to point to an expanding euro-zone economy by September at the latest.If infections from the novel coronavirus or another one like it do spike again, we will have had more time to keep researching existing drugs for possible treatments, as well as working on the more distant goal of a vaccine. The extra resources being poured into testing, medical research and hospitals should help us avoid the worst of both worlds — high excess deaths and blanket, economy-killing lockdown measures — even if cases climb.The scenario of this virus simply disappearing, perhaps in the way the 2003 SARS disease did, remains a dream. Pandemics usually end when there aren’t enough people left to infect, or when human intervention — through vaccines, or brute-force measures such as isolation or quarantine — scores a decisive victory. We’re not there yet. But the feeling of getting closer is palpable, and worth relishing.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Lionel Laurent is a Bloomberg Opinion columnist covering Brussels. He previously worked at Reuters and Forbes.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.
Such is the new world of tech conferences in the age of COVID-19. They’ve gone all-digital, like Build and GTC Digital, and may never be the same. Absent a vaccine, the days of thousands of people herded into hotel ballrooms and convention centers like cattle, sharing cabs and eating in cramped quarters, are gone.
The U.S. stock market is firing on all cylinders, and that’s bullish for its near-term prospects. The five largest U.S. stocks by market capitalization are grabbing attention, but their performance doesn’t tell the whole story. Concentration of market cap in five stocks is not a recent phenomenon, as is clear from the accompanying chart.
Instagram is going to share some revenue with users. The move could generate billions in revenue for the Facebook (NASDAQ: FB) subsidiary and put it in greater competition with Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) YouTube for both talent and ad sales. For reference, YouTube generated $15 billion in gross revenue last year.
Disney is relying on a vaccine for the coronavirus to get back to full-fledged operations because so many of its businesses rely on large crowds. Alphabet will benefit when advertisers hurt by the outbreak ramp up spending again. The coronavirus outbreak is causing disruptions in some of Disney's most lucrative operations.
"We are excited to tell you more about Android 11, but now is not the time to celebrate," Google said in a message posted on its Android developers website. In a tweet, it said that it will announce more details on the new version of Android "soon," without specifying any dates. Protests have spread across the United States over the killing of George Floyd, a Minneapolis black man who died after being pinned by the neck under a white police officer's knee.
Alphabet (GOOGL) closed the most recent trading day at $1,433.52, moving +1.08% from the previous trading session.