|Day's Range||0.6000 - 0.6000|
Washington’s war on Big Tech is more of a high-stakes poker game than a real threat to the businesses of Google, Amazon, Apple, and Facebook, according to a new analyst note.
It's been a big year for technology initial public offerings. Among the winners from the tech IPO boom are two U.S. technology companies with fast-growing venture capital portfolios.
Redwood City software giant Oracle, eager to break up the Pentagon’s $10 billion JEDI cloud computing contract, reportedly got a lifeline this week from President Donald Trump, who’s beginning to ask questions about the size and scope of the project.
It was just a year ago that the debate about trillion-dollar market caps focused on Apple Inc. and Amazon.com Inc., but Microsoft has held that title to itself for more than a month.
Finance ministers from the Group of Seven rich democracies are sounding the alarm on the dangers of cryptocurrencies and pouring cold water on Facebook’s Libra as they wrap up a two-day meeting in Chantilly, France.
FaceApp has gone viral again with a feature that makes users look elderly, but experts say it may pose security concerns.
As the public and government regulators around the world discuss whether and how to manage the power of technology companies, one idea that keeps coming up is breaking up these large conglomerate corporations into smaller pieces. Public distrust for tech companies has shifted to talk of antitrust action against them. Facebook, for instance, might then have to compete with Instagram for photo-sharing and WhatsApp for messaging — rather than owning both.
Silicon Valley is synonymous with housing shortages. A UN report refers to the crisis as a human rights violation. An influx of well-paid tech workers, including 45,000 Google employees, to the San Francisco Bay Area are blamed for growing homelessness.
Advocates and opponents of breaking up Facebook, Google and other technology giants are falling prey to some serious misconceptions.
The deal is a significant boon for LendLease, coming at a time when Australian developers navigate the domestic property market's worst downturn in a generation, characterized by a drop in building approvals and tighter consumer spending. It is also a major win for LendLease's strategy to expand abroad, and will see it reinforce its core role as a residential developer after being hobbled by its engineering division. The announcement sent LendLease's share price up in morning trade by as much as 5.3% to A$14.84, its highest since Nov. 8.
The selection is part of the tech giant's recent $1 billion commitment to build 20,000 new housing units.
It was another mixed trading session on Wednesday, as investors digest a bevy of bank earnings before turning their eyes to different industries and sectors in the coming days and weeks. Given that we went a march to new highs on a seemingly daily basis for a bit, this kind of consolidation, albeit boring, is better than a pullback, right? We saw a 46 basis-point decline in the Nasdaq today, and similar action in other major indices.Source: Shutterstock Big tech remains in focus -- with Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Facebook (NASDAQ:FB) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) on Capitol Hill. As the DoJ and others weigh potential antitrust charges against big tech, they are testifying before Congress.It's understandably hard for investors to bid these names higher with that type of event going on. But with Netflix (NASDAQ:NFLX) set to report earnings and the testimonies ending on Wednesday, big tech could be back in favor should NFLX react favorably.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Earnings, Earnings, EarningsThe focus has shifted from the Fed -- which is still expected to cut rates -- to earnings. We've mostly heard from the banks, but the focus will soon broaden. NFLX reports after the close, as does eBay (NASDAQ:EBAY) and International Business Machines (NASDAQ:IBM). We also have Microsoft (NASDAQ:MSFT) on Thursday. * 8 Penny Stocks That Have Fallen From Grace For Netflix, analysts expect revenue to grow 26% to $4.93 billion and for earnings of $0.56 per share. For third-quarter guidance, the consensus is for revenue of $5.23 billion and earnings of $1.03 per share. Of course, with Netflix the key won't just be the top- and bottom-line results. Subscriber growth will play a huge role too. Look to see if management lays out a plan (or at least comforts investors) on the idea that it can still do well without its top two shows next year, Friends and The Office, and amid plenty of growing competition. Prime DayIf only we could get our hands on the specific numbers, but Amazon isn't letting them out. At least, not yet.What we do know is that Amazon sold more than 175 million items during the two-day event -- delivery guys are going to love that… -- while revenue topped that of Black Friday and Cyber Monday combined.Let that sink in for a minute, just to realize how powerful of a sales event this has become.When it comes to e-commerce, Adobe Systems (NASDAQ:ADBE) is left out all too often. That's funny given that the company measures transactions for 80 of the top 100 U.S. internet retailers. According to the company, on Monday, "retailers that make more than $1 billion in annual revenues saw a 64% increase in their digital sales compared with an average Monday."Last year's spike was 54%, so Amazon isn't the only one making out. And before we think it's just the big guys who are winning, Amazon said small and medium-sized businesses "far exceeded" $2 billion in sales. Heard on the Nasdaq TodayOn Tuesday, we noted the partnership between AT&T (NYSE:T) and IBM. Well, AT&T notched another deal, this time with Microsoft. The two have entered into a multi-year cloud and 5G deal worth more than $2 billion. They will collaborate together on 5G products, while AT&T will use Microsoft's Azure cloud platform and its employees will use Microsoft's 365 cloud app bundle.Tesla's (NASDAQ:TSLA) plans in China seem to be coming along faster than many had expected. When the automaker said it was hoping to begin production in Shanghai later this year, it drew the ire from a chorus of doubters. However, a recent trip from Morgan Stanley analysts seems to confirm that production could be up and running "faster than anyone believed."Construction should finish in September, allowing for full production to start in November, according to the analysts. If all pans out well for Tesla, analysts believe it can become the "leading luxury EV player" in the country. And before you assume Morgan Stanley is a mega bull on Tesla, it's not. They have a neutral rating on the stock with a $230 price target.Finally, Apple is testing production of its AirPods product in Vietnam, in what looks like an effort to lower its reliance on China. It will initially be on lower volume as the company works out any issues that may arise, and Apple has asked suppliers to keep their pricing unchanged during the trial. * 5 Top Stock Trades for Thursday: TSLA, GLD, ABT Worth mentioning is that Apple has been producing its regular wired headphones in Vietnam for years, but began production of the AirPods in China.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell was long AAPL, AMZN, GOOGL and T. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip * 7 Services Stocks to Buy for the Rest of 2019 * 6 Stocks to Buy and 1 to Sell Based on Insider Trading The post Nasdaq Today: Amazon Sold HOW Much During Prime Day?Â appeared first on InvestorPlace.
The EU's Amazon probe is part of a global regulatory and political push v. Big Tech, also including Facebook, Google, Apple. Investors should take threats to their business models seriously.
Which is real? And which is really real, I mean, earnings-per-share real? When Big Tech goes to Washington, you have to worry about what's headline risk and what's EPS risk -- and the gulf between the two is huge.
U.S. government contracts are big business for the companies that get them. In 2019, cloud giants Amazon (NASDAQ: AMZN) and Microsoft (NASDAQ: MSFT) are battling over a potentially $10 billion contract. The Joint Enterprise Defense Infrastructure (JEDI) project could be the crown jewel of cloud contracts. The deal itself is worth $10 billion, which may not directly move the needle for Microsoft and Amazon stock. Both have market caps around $1 trillion. But a partnership with the U.S. government could be worth much more for the JEDI winner and its shareholders in the long term.Source: Shutterstock Narrowing The FieldIn addition to Microsoft and Amazon, Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and Oracle (NYSE: ORCL) were also initially in the running for JEDI. Bids were submitted in late 2018, but contenders have been dropping like flies. At one point, Amazon was so close to landing JEDI that AMZN stock investors could almost taste it. Unfortunately, Oracle stepped in and protested a potential Amazon conflict of interest in the process. The alleged conflict centers on Amazon employee Deap Ubhi, who previously worked at the Department of Defense.This month, Oracle was officially removed from the running after a court ruled that the company could not meet a set of gate criteria as of the time its bid was submitted. Google has also dropped out of the running after employees protested the bid. The company determined that JEDI would conflict with its corporate values.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 4 Retail Stocks to Buy in Time for the Back-to-School Rush That leaves only early front-runner Amazon and underdog Microsoft left in the running. Microsoft Coming on StrongWedbush analyst Daniel Ives says Amazon remains the favorite, which is great news for Amazon stock. However, Ives says Washington contacts indicate Microsoft has closed the gap on Amazon in the past six months. In fact, Ives says Microsoft now has a realistic shot at landing JEDI."Based on our discussions and analysis from the Beltway it now appears this battle for JEDI is more of a ~50%/50% AWS vs. MSFT chances to win at this point rather than the runaway (~80%/20%) that it appeared to be with AWS getting ready to pop the champagne roughly a year ago," Ives says.But before Amazon stock investors dismiss a $10 billion contract, consider the longer-term. Ives estimates the true value of JEDI is around $100 billion. He says the JEDI winner can anticipate a number of additional government contracts and renewals for years to come.JEDI likely played a key role in Amazon setting up a new headquarters in Crystal City, VA, just outside of D.C. That decision is an indication of just how important JEDI may be to Amazon stock. Trump and Amazon StockAt first glance, Amazon may still seem to have the advantage in the JEDI dog race. However, Amazon stock investors have been dealing with a major headache in Washington since November 2016.U.S. President Donald Trump has made crystal clear throughout the years that he disdains Amazon and its billionaire CEO Jeff Bezos. Trump has repeatedly ripped Amazon for not paying its fair share of taxes and not paying fair rates to the U.S. Postal Service. Trump said last year that he is investigating potential antitrust violations by Amazon. He has repeatedly called the Bezos-owned Washington Post "fake news." Trump has even referred to Bezos himself as "Jeff Bozo."Last year, sources told Axios that Trump is "obsessed with Amazon." It's clearly not a positive obsession.So what does that mean for JEDI? In principle, Trump's beef with Bezos should have nothing to do with the Department of Defense or a government cloud computing contract. In reality, Americans have repeatedly seen Trump apply pressure to different departments of the government to get his way. If Trump doesn't want Amazon to land JEDI, AMZN stock investors can bet he will do everything in his power to push for Microsoft. Takeaway for AMZN and MSFTThe timing of the JEDI award is up in the air at this point. Ives says investors may get some clarity in the coming months. Amazon stock investors know AWS has been the gold standard of cloud computing since its inception. So if Microsoft lands JEDI, it could have long-lasting ramifications within the cloud industry. * 8 Penny Stocks That Have Fallen From Grace MSFT stock and AMZN stock may or may not initially react to the JEDI award news. But investors should make no mistake about the potential long-term value of the JEDI contract.As of this writing, Wayne Duggan did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip * 7 Services Stocks to Buy for the Rest of 2019 * 6 Stocks to Buy and 1 to Sell Based on Insider Trading The post AMZN and MSFT Are the Last Left Standing in the Battle for the JEDI Contract appeared first on InvestorPlace.
Facebook and Alphabet stock are good buying opportunities headed into their earnings reports, according to KeyBanc’s Andy Hargreaves. “We believe ad spending across the major internet platforms remained solid in 2Q and expect positive results in the space,” he wrote.
Lawmakers are grilling big tech over antitrust concerns, but Wedbush Securities Managing Director of Equity Research Dan Ives says that these hearings are creating more noise than actual change. He joins Yahoo Finance's Seana Smith to explain.
In celebration of "World Emoji Day", Apple and Google are previewing a new collection of emojis coming this fall. Melissa Thermidor, who was instrumental in creating the "Blood Drop" and "Interracial Couple" emojis, joins CBSN's Tanya Rivero to discuss the creation process.