|Day's Range||8.20 - 8.40|
Amazon investors are expected to vote on a measure calling for the company to halt sales of its facial recognition technology to police during its investors day on May 22.
The auto industry is rapidly moving toward a future of driverless cars. One of the main arguments in favor of this new technology is that it will make driving safer.
The funding takes the total raised by KaiOS -- which has now shipped 100million devices across 100 countries -- to $72 million
Starting next month, Google will enforce new policies for ads related toabortion in the United States, United Kingdom and Ireland
Self-driving cars once seemed poised to inaugurate a new era in transportation. But now, driverless cars are further away than people thought.
With negotiations on hold and tariffs piling up, the United States and China appear to be bracing for a prolonged standoff over trade.
Ideaya Biosciences, an oncology-focused precision medicine company, is setting out to make a mark among mushrooming biotech listings. Ideaya is selling 5 million shares in a proposed initial public offering, to be priced between $13 and $15 per share, according to its S-1 filing. The company said in the filing insiders have agreed to purchase an aggregate of about $35 million in shares in the offering at the IPO price.
The tech giants sought to assure lawmakers that they take the threat of foreign influence seriously after being blindsided by Kremlin-backed disinformation campaigns on their platforms during the 2016 election. "There is no silver bullet, but we will continue to work to get it right," said Richard Salgado, Google’s director of law enforcement and information security.
Chris Davis ( Trades , Portfolio ) , portfolio manager of investment management firm Davis Selected Advisers, sold shares of the following stocks during the first quarter. Warning! GuruFocus has detected 4 Warning Signs with GE. The conglomerate, which operates in oil and gas, power and renewable energy, has a market cap of $86.86 billion and an enterprise value of $142.20 billion.
British chip designer ARM has halted relations with Huawei in order to comply with a U.S. blockade of the company, potentially crippling the Chinese company's ability to make new chips for its future smartphones. Huawei, in common with Apple Inc and chipmakers such as Qualcomm, uses ARM blueprints to design the processors that power its smartphones. It also licenses graphics technology from the Cambridge-based company.
The bottom is falling out for Baidu (NASDAQ:BIDU). Baidu stock fell by almost one-quarter on Friday and Monday. Excluding a very brief dip in 2015, BIDU stock now sits at its lowest level in almost six years.Source: Shutterstock The near-term catalyst has been BIDU's disappointing first-quarter report issued on Thursday afternoon. But there's more weighing on BIDU stock than just a single earnings report. As I wrote earlier this year, there have been significant concerns about the health of its business for a long time. * 7 Safe Stocks to Buy for Anxious Investors Its Q1 results and, perhaps more importantly, its Q2 guidance, suggest those concerns are quite realistic. And so I wouldn't recommend that investors try and time the bottom of BIDU stock just yet.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Baidu's EarningsOn the surface, Baidu's earnings look modestly disappointing, but they don't seem bad enough to drive such a steep fall. Adjusted earnings per share of 41 cents did miss analysts' consensus estimate by $0.16. But its revenue growth in Chinese yuan rose 15%, in-line with the consensus outlook, and its sales actually grew 21%, excluding the divestiture of a number of its businesses last year.The earnings miss sounds disappointing, but the overall numbers don't seem terribly out of line. The company's revenue is still growing. BIDU had warned that its profits would drop in the first half of the year, partly due to higher spending on its search business.But looking more closely, two factors drove Baidu's top-line growth. The first was its ownership of iQiyi (NASDAQ:IQ), the so-called Netflix (NASDAQ:NFLX) of China. Baidu still owns roughly two-thirds of iQiyi, so IQ's results and its growth are reflected in Baidu's consolidated numbers.But Baidu's online marketing revenue, the key part of its wholly-owned business, increased just 3%. And Baidu spent an enormous sum on marketing in the quarter. SG&A, which includes marketing expenses, rose a stunning 93% year-over-year. Some of that increase was due to BIDU's efforts to support iQiyi's growth. But the operating income of Baidu's core operations plunged a stunning 67% year-over-year.Outside of iQiyi, then, Baidu essentially bought, at an expensive price, what little revenue growth it could muster. And Q2 isn't going to be much better. Baidu guided for consolidated revenue to rise just 1% to 6% excluding divestitures, representing a significant slowdown. The Baidu Stock Price PlungeSo the reaction to the earnings report does make some sense. Baidu's stake in IQ accounts for roughly 20% of its market cap; IQ shares have fallen on BIDU's results. BIDU's legacy business seems to have a significant top-line growth problem. And its increased spending is causing its profits to not only decline, but to decline sharply. BIDU stock simply has a very different fundamental profile after its earnings than it did previously.Beyond the numbers, the results confirm the fears that have dogged Baidu stock for some time. Its desktop search business is being displaced by greater use of apps, which bypass browsers and Baidu altogether. (That is also a concern for Alphabet (NASDAQ:GOOG,NASDAQ:GOOGL), to which Baidu is often compared, though Alphabet has done a better job of holding onto its business.) Baidu has added some self-inflicted wounds, including a scandal surrounding medical search results back in 2016 and complaints about its news results earlier this year.BIDU managed to come out the other side of the 2016 scandal. But its Q2 guidance, in particular, suggests a deceleration of growth to levels not seen since 2016-2017. That, in turn, implies that Baidu's brand in China has taken another hit from which it may not be as easy to recover.Outside of search, Baidu hasn't proven it can win. Its income from equity investments (which does not include iQiyi) declined 57% in Q1. Its efforts in artificial intelligence and the cloud don't appear to be moving the needle much. If Search starts to fade, it's not clear that BIDU will have an answer. Baidu Stock Doesn't Look Cheap EnoughBaidu stock looks awfully cheap on the surface. The company closed Q1 with over $18 billion in cash, excluding the funds held by iQiyi. Its stake in IQ is worth close to $10 billion. Combined, those assets support over half of the current market capitalization of BIDU stock.Based on those assets and analysts' 2019 consensus EPS estimate, it appears that Baidu stock is trading at a single-digit multiple to the profits of its core business. But it's worth noting that those EPS estimates are going to come down, and potentially sharply, in the wake of the Q1 results. BIDU stock may look cheap, but there's a wealth of evidence at the moment which suggests that it should be cheap.Meanwhile, the trade war still hangs over all Chinese stocks. But Baidu stock has badly lagged even its peers recentl. Big Chinese names like Alibaba (NYSE:BABA), JD.com (NASDAQ:JD), and Tencent (OTCMKTS:TCEHY) all posted solid earnings reports last week, and their shares have risen so far this year. What happens to BIDU stock if and when investors' views on China deteriorate?The response by Baidu stock over the last two sessions is not an overreaction, or a panic, or a case of investors not paying attention. There have been real concerns about BIDU stock for some time now, and those concerns seem supported by both its Q1 results and its Q2 guidance. So it's not surprising that Baidu stock has fallen so hard. And it wouldn't be a surprise if BIDU keeps falling.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Safe Stocks to Buy for Anxious Investors * 4 Tech Stocks Looking Vulnerable * Should You Buy, Sell, Or Hold These 7 Hot IPO Stocks? Compare Brokers The post After Earnings Miss, Baidu Stock Can Get Even Cheaper appeared first on InvestorPlace.
Google's main regulator in the European Union, Ireland's Data Protection Commissioner, opened its first investigation into the U.S. internet giant on Wednesday over how it handles personal data for the purpose of advertising. The probe was the result of a number of submissions against the company, the Irish Data Protection Commissioner (DPC) said, including from privacy-focused web browser Brave, which complained last year that Google and other digital advertising firms were playing fast and loose with people's data. Brave argued that when a person visits a website, intimate personal data that describes them and what they are doing online is broadcast to tens or hundreds of companies without their knowledge in order to auction and place targeted adverts.
The Mountain View, California-based company has acquired the Milk Building at 450 W. 15th St. from Jamestown Properties.
Sprint (NYSE:S) continues to remain in limbo. Amid a merger in jeopardy and a disappointing earnings report, Sprint stock had fallen even as that of its buyer-in-waiting, T-Mobile (NASDAQ:TMUS), steadily rises. Sprint stock spiked higher on Monday as the Federal Communications Commission (FCC) appeared to green light the merger.Source: Shutterstock However, with the Department of Justice (DOJ) set to block the union, Sprint has again begun to fall. Worse, given the known state of Sprint's 5G network, one has to wonder if it can remain a viable entity without the help of T-Mobile. Given these conditions, Sprint stock offers no viable investment options for shareholders. FCC, DOJ on Opposing SidesSprint stock surged higher by almost 19% in Monday trading as FCC Chairman Ajit Pai gave his approval to the merger. Before this announcement, S stock traded more than 20% below the price T-Mobile guaranteed to Sprint shareholders if the deal took place. With FCC approval, much of that gap had closed.InvestorPlace - Stock Market News, Stock Advice & Trading TipsHowever, the stock fell back by more than 3% in Wednesday trading as antitrust staffers at the DOJ recommended blocking the deal. Now, political appointees within the DOJ must decide whether to file a suit to block the agreement. Most expect a final decision within a month. Whatever happens, it brings further uncertainty to a deal seen as both controversial and inevitable. Expect Some Kind of MergerInvestors need to understand that a merger will occur whether or not a merger occurs. The government can allow T-Mobile to buy Sprint's assets. It can also let Sprint decline. If Sprint folds, some or all of the remaining 5G players could buy Sprint's assets in the bankruptcy process. As my colleague Dana Blankenhorn suggests, they could also face better-heeled players such as Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) or Amazon (NASDAQ:AMZN) buying Sprint's assets. Hence, few in the telco industry will win if the DOJ blocks the deal. * 10 Names That Are Screaming Stocks to Buy Our own James Brumley spells out this case in greater detail. I agree with him that regulators know that the market may end up with only three 5G players regardless of their decision on the merger. Still, predicting if and when a deal occurs remains the challenge. Sprint Stock Is Not an InvestmentAs a result, Sprint stock has ceased to serve as an investment. Both the numbers and management's illustration of the network leave investors with few reasons to choose S stock over AT&T (NYSE:T) or Verizon (NYSE:VZ). CEO Michael Combes even declined to answer a question as to whether the company can offer nationwide coverage if the T-Mobile merger does not occur.By itself, this makes Sprint's 5G less valuable than that of its three direct peers. That bodes poorly for a company with $28.27 billion in book value and $36.28 billion in long-term debt.In fairness, the stocks of AT&T and Verizon also face their challenges. Due to the cost of a 5G buildout and other factors, both companies face heavy debt loads. In AT&T's case, a move into media content has placed further pressure on that equity. As a result, both stocks support low multiples.However, one can still classify those companies as investments. Lower stock prices have given both AT&T and Verizon some of the highest dividend yields in the S&P 500. Sprint cannot afford a payout at all. Moreover, both AT&T and Verizon have increased their payouts every year for decades. 5G will probably finance these dividend increases in the future. Hence, even if these equities remain somewhat depressed, they can still deliver shareholder return. A Deal Is the Only Hope for Sprint StockThe merger has become the only known possibility for Sprint stock to deliver further significant upside. Since holders of S stock will receive 0.10256 shares of T-Mobile stock, this translates into a purchase price of about $7.85 per share as of the time of this writing. With the current Sprint stock price of around $7 per share, that represents a premium of almost 12%. Without the deal, traders will probably watch Sprint become the Sears Holdings (OTCMKTS:SHLDQ) of the wireless industry as it gradually bleeds out. * 7 Athletic Apparel Stocks With Marathon Pace In the end, we do not know what regulators will do. Hence, I mostly agree with my colleague Vince Martin that Sprint stock has become a gamble. However, I see this as a poor gamble, as we do not know when government regulators will make their final decision. The Bottom Line on Sprint StockSprint stock offers little hope for investor returns outside of the formal approval of the T-Mobile merger. Given its financial condition, Sprint will struggle to build a nationwide 5G network without some help. Hence, a takeover of some kind will likely occur regardless of what regulators may think.This leaves holders of Sprint stock with only gambling instead of investing options. They either bet on government approval, or they witness an almost-certain drop into penny-stock status. With the FCC and DOJ at cross purposes, what will happen is anyone's guess.People who want to gamble might have better luck (and certainly more fun) at a blackjack table. Those who wish to invest will likely see higher returns in the equities of AT&T, Verizon or that of their prospective suitor.As of this writing, Will Healy did not hold a position in any of the aforementioned securities. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Safe Stocks to Buy for Anxious Investors * 4 Tech Stocks Looking Vulnerable * Should You Buy, Sell, Or Hold These 7 Hot IPO Stocks? Compare Brokers The post Why Sprint Stock Isn't a Gamble That's Worth Taking appeared first on InvestorPlace.
Lone Pine Capital, the hedge fund founded by Steve Mandel (Trades, Portfolio), revealed seven new positions when it released its first-quarter portfolio last week. Warning! GuruFocus has detected 4 Warning Sign with SPGI. Using both growth and value methodologies, the firm, whose founder was a former "tiger cub" of Julian Robertson (Trades, Portfolio), is known to not hold positions for very long.
“The purpose of the inquiry is to establish whether processing of personal data carried out at each stage of an advertising transaction” is in line with the EU’s General Data Protection Regulation, the Irish Data Protection Commission said Wednesday in a statement. Google was earlier this year slapped with a 50 million-euro ($55.8 million) privacy fine by the French data regulator for violating the EU law. Ireland’s data regulator on Jan. 22 became the lead authority to watch over Google’s privacy compliance, after the Alphabet Inc. unit established its main European base in the country.
Google is the subject of another European Union investigation after Ireland's Data Protection Commission announced that it is launching an inquiry into the tech giant's handling of personal data related to online advertising. The Commission said that its probe would examine whether Google's business violates EU privacy rules.
Ireland's privacy watchdog, which leads supervision of Google in the EU, launched an inquiry into the firm's online advertising practices.