|Day's Range||138.64 - 138.64|
Earlier this year, Google said it would transition all Hangouts users on GSuite to Hangouts Chat and Meet by October 2019 and then retire the classicversion of Hangouts
People love to share YouTube videos among their friends, which is why in mid-2017 YouTube launched a new in-app messaging feature that would allow YouTube users to private-send their friends videos and chat within a dedicated tab in the YouTube mobile app. After September 18, the ability to direct-message friends on YouTube itself will be removed. The change was first spotted by 9to5Google, which noted that YouTube Messages came to the web in May of last year.
Google has found a committed Android One partner in Xiaomi . The Chinese electronics giant today launched in India the Mi A3 (its third Android One smartphone in recent years) as the company looks to expand its handset offering in its most important market. The Mi A3 features mid to high-end hardware modules and follows Xiaomi's tradition of punching above its price class.
Advances in technology can allow you to order food by voice or unlock your phone with your face, but those new capabilities could take a toll on the environment.
San Jose lawmakers have created a zone next to Diridon Station in which the city will charge an impact fee on top of building permits there to pay for an estimated $74 million in infrastructure expenses the city expects to incur. The new fee is likely to be the first of many new levies the council will be asked to charge as Google and other developers work on big projects in the area.
Hewlett Packard Enterprise (HPE) is down 0.4% YTD, lagging the S&P 500's 14.3% gain. For such an established company, the stock has seen a lot of movement in the past year.
Hey Google, who is the best digital assistant? If you ask your Google Assistant that question, it would be able to immodestly proclaim itself the best — though if it’s being honest, it should give its competitors credit and say they’re pretty good too. The test posed 800 questions to each assistant.
The DOJ's antitrust chief said he was working with several state attorneys general to investigate alleged anti-competitive behavior of big tech companies.
Hedge funds soured on technology stocks such as Alphabet in the second quarter, but increased their exposure to potentially politically sensitive health-care stocks.
News of Waze adding YouTube Music to its list of audio partners is good for commuters.Source: Piotr Swat / Shutterstock.com According to a recent press release, YouTube Music is now available to some users of the Waze app. However, not everyone has access to it just yet. The release notes that support is being added over time and that all 50 markets where YouTube Music is available will have the feature soon.Waze adding YouTube Music to its service comes as it expands audio options for users. This gives them the ability to choose between various music and podcast streaming services for listening to while they drive.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWaze users that want to make use of the YouTube Music option will have to have a subscription to YouTube Music Premium or YouTube Premium. Anyone new that wants to try it out can check out a one-month free trial of the music streaming service."All of the albums, playlists, personalized mixes, and more that fans love to listen to are now available with a couple of quick taps as they navigate to where they need to go," Lawrence Kennedy, Product Manager for YouTube Music, said in a statement. "With YouTube Music and Waze together in one experience, there has never been a more entertaining way to get around." * 10 Marijuana Stocks to Ride High on the Farm Bill YouTube Music coming to Waze doesn't come as much of a surprise. It was only a matter of time with both of the companies belonging to Alphabet's (NASDAQ:GOOG,GOOGL) Google. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks to Ride High on the Farm Bill * 8 Biotech Stocks to Watch After the Q2 Earnings Season * 7 Unusual, Growth-Oriented REITs to Buy for Your Portfolio As of this writing, William White did not hold a position in any of the aforementioned securities.The post Waze Adding YouTube Music to Its List of Audio Partners appeared first on InvestorPlace.
(Bloomberg) -- The co-founder of DeepMind, the high-profile artificial intelligence lab owned by Google, has been placed on leave after controversy over some of the projects he led.Mustafa Suleyman runs DeepMind’s “applied” division, which seeks practical uses for the lab’s research in health, energy and other fields. Suleyman is also a key public face for DeepMind, speaking to officials and at events about the promise of AI and the ethical guardrails needed to limit malicious use of the technology.“Mustafa is taking time out right now after 10 hectic years,” a DeepMind spokeswoman said. She didn’t say why he was put on leave.Suleyman did not return multiple email requests for comment. He founded DeepMind in 2010 alongside current Chief Executive Officer Demis Hassabis. Four years later, Google bought DeepMind for 400 million pounds (currently $486 million), an ambitious bet on the potential of AI that set off an expensive race in Silicon Valley for specialists in the field.DeepMind soon began working on health-care research, eventually creating a division dedicated to the area. Suleyman, nicknamed “Moose” and whose mother was a nurse, led the development of the DeepMind Health team, building it into a 100-person unit.But DeepMind was heavily criticized for its work in the U.K. health sector. DeepMind Health’s first product was a mobile app called Streams that was originally designed to help doctors identify patients at risk of developing acute kidney injury. In July 2017, the U.K.’s data privacy watchdog said DeepMind’s partner in the project, London’s Royal Free Hospital, illegally gave DeepMind access to 1.6 million patient records. Suleyman apologized in a statement at the time.In late 2018, Alphabet Inc.’s Google said the team that created Streams would join a new Google division called Google Health. The DeepMind Health brand was shelved, and Suleyman was removed from the day-to-day running of the unit.Suleyman sat on an external panel of experts Google created to review thorny ethical issues related to AI. Bloomberg News also reported that he served on a smaller group within the company to vet particular projects, formed after an uproar over a Google AI contract with the Pentagon.To contact the reporters on this story: Giles Turner in London at email@example.com;Mark Bergen in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Tom Giles at email@example.com, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shares of Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) posted stellar earnings when they reported two weeks ago, but have since fallen along with the rest of the market. The GOOGL stock chart shows the big spike after earnings and since then, the stock has drifted lower.So what does this mean for investors? Strong Results for GOOGL StockAnalysts were expecting revenues of $38.21 billion and GAAP EPS of $11.17 per share. Alphabet stock crushed expectation by reporting revenue of $38.94 billion and GAAP EPS of $14.21 per share. InvestorPlace - Stock Market News, Stock Advice & Trading TipsSource: TradingView.com The strong results led to shares of Alphabet being up more than 10% the day after they reported earnings. This was the largest single day gain since July of 2015. Looking beneath the headline numbers for each major segment, you can see that each area showed growth above what analysts were expecting. The clear source of growth came from the "Google Other" segment, which is where the cloud division data is. In addition, YouTube was a strong point of growth as well. Two quotes from the conference call show the importance of YouTube and the cloud business. * 10 Marijuana Stocks to Ride High on the Farm Bill The first comes from Alphabet CEO Sundar Pichai: "Q2 was another strong quarter for Google Cloud, which reached an annual revenue run rate of over $8 billion and continues to grow at a significant pace."And CFO Ruth Porat said, "In the second quarter, YouTube was again the second largest contributor of revenue growth. And really pleased with the ongoing momentum that we're seeing here."Just look at the numbers they reported:-Properties, $27.34 billion vs. est. $27.26 billion-Ads, $32.6 billion vs. est. $32.58 billion-Other, $6.18 billion vs. est. of $5.63 billion Alphabet Share Buybacks and Regulatory RisksOne of the items investors may have overlooked in the earnings press release is the fact Alphabet authorized the repurchase of $25 billion in Alphabet class C stock, which is the ticker GOOG.When you look at cash flow and the balance sheet, it is easy to see that Alphabet can support large share repurchases. Over the last year, Alphabet has generated over $27 billion in free cash flow, and as of the most recent earnings report, Alphabet noted that it had about $121 billion in cash and marketable securities.Even with all the positives Alphabet has, one of the main risks in the stock is regulatory risk. "The head of the U.S. Federal Trade Commission said he's prepared to break up major technology platforms if necessary," according to a Bloomberg article.In addition, as election season heats up over the next year, there will be continued talk on the Democratic side of aisle about breaking up large companies. Then on the other side of the aisle, President Donald Trump recently made news by accusing Alphabet of illegal actions. Therefore, GOOGL stock could be in the crosshairs of both political parties over the next year as the 2020 election approaches. Bottom LineThe bottom line for Alphabet is they reported strong results, generate a ton of cash and have a stellar balance sheet. While there is a potential for regulatory risk and political risk, the company looks compelling right now. Buybacks only sweeten the pot. For now, pullbacks are opportunities in GOOGL stock.As of this writing, Brad Kenagy did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks to Ride High on the Farm Bill * 8 Biotech Stocks to Watch After the Q2 Earnings Season * 7 Unusual, Growth-Oriented REITs to Buy for Your Portfolio The post Market Pullback Creates Opportunity In Alphabet appeared first on InvestorPlace.
(Bloomberg) -- Three companies — Amazon.com Inc., Microsoft Corp. and Alphabet Inc. — quietly dominate the world of cloud computing.With more more than 100 giant data centers worldwide, they rent out computing power to all manner of customers, making billions of dollars along the way. In fact, cloud computing has done more to fuel Amazon’s earnings in recent years than its e-commerce business.But there’s a threat looming on the horizon, quite literally at the edge of the network. With so many mobile devices and sensors now connected to the internet — and relying on artificial intelligence — more people and companies need their computing power close to them. For everything from fast analysis of road conditions to streaming holographic concerts, remote data centers are just too far away.That’s going to hand a huge opportunity to wireless carriers, which are building fast 5G networks to handle the task. And create a threat for the dominant cloud-computing players, according to telecom analyst Chetan Sharma. “Over time, cloud will be primarily used for storage and running longer computational models, while most of the processing of data and AI inference will take place at the edge,” said Sharma, who just wrote a report on the topic sponsored by software provider AlefEdge Inc. He pegs the size of this so-called edge-computing market at more than $4 trillion by 2030.Wireless carriers and the owners of cell towers have a big advantage in the edge-computing race: Not only do they control access to high-speed telecommunications networks, they have valuable real estate, such as tens of thousands of cell sites all over the country.Cloud computing isn’t going away by any means. But there’s more pressure on the industry’s Big Three to team up with wireless carriers, so they’re not left out of the burgeoning edge market.“The big players realize that at a minimum they need to partner up with operators to get access to their real-estate property,” Sharma said.Already, AT&T Inc. — the second-largest U.S. wireless carrier — has joined forces with Microsoft Corp. and IBM Corp., two cloud providers.“Our goal is that our partners are wildly successful,” said Sam George, a cloud executive at Microsoft. “If our partners are wildly successful, we’ll be wildly successful. There’s a lot of money to be made for partners.”Amazon and Google declined to comment on their plans.AT&T has hundreds of workers focused on edge computing, and it’s “a core part of our 5G strategy,” said Mo Katibeh, chief marketing officer of AT&T’s business division.“This is one that takes a village.”IBM, meanwhile, is also working with carrier Vodafone Group Plc in Europe.“The networks are essentially themselves becoming a cloud,” said Steve Canepa, IBM’s global managing director for the telecom industry. “The telcos today have a point of presence at the edge, and that becomes a great place to have an extension of the platform.”Cloud providers in China — such as Alibaba Group Holdings Ltd. and Tencent Holdings Ltd. — invested in carrier China Unicom two years ago. And more such investments and partnerships could be coming, Sharma said.For other tech companies, including chipmakers like Intel Corp., the hope is the shift leads to a bigger opportunity for everyone.“We see a rapid convergence between the cloud providers and connectivity providers,” said Caroline Chan, a general manager at Intel. “In our view, it’s a bigger pie.”Other telecom players are angling to team up with both carriers and cloud providers. Crown Castle International Corp., which owns fiber lines as well as more than 40,000 cell towers in the U.S., is in talks with the two camps, said Paul Reddick, a vice president at the company.Crown Castle also is an investor in startup Vapor IO, which is deploying edge computing this year in six metro areas, including Chicago.“I would say this is one that takes a village,” Reddick said.Other projects are already well underway. At CenturyLink Inc., about 100 facilities that used to store telecom equipment are now outfitted with servers. And it’s making them available to corporate customers in sectors like retail and industrial robotics.“We’ve already sold these facilities to a number of customers that need to get that compute closer to the network edge,” said Paul Savill, a senior vice president at CenturyLink. “We’ve seen enough activity in this space that we can confidently build out this infrastructure.”To contact the author of this story: Olga Kharif in Portland at firstname.lastname@example.orgTo contact the editor responsible for this story: Nick Turner at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Google's (GOOGL) search dominance is about to increase. The Internet giant has made its much-awaited Google Go Search app available worldwide.
Google LLC plans to sublease Akamai Technologies Inc.’s current headquarters when the Cambridge-based internet giant moves into its newly constructed home across the street. Google (Nasdaq: GOOG) will occupy floors two through nine at 150 Broadway, and plans a fall 2020 move in. Akamai will keep the first floor, but plans to move into its new headquarters at 145 Broadway this November, a spokesperson said. “Google has finalized a deal to sublease office space from Akamai at 150 Broadway,” a Google spokesperson said in an email to the Business Journal. “This will serve as additional space to accommodate our continued short-term and long-term growth in Cambridge.” Office and lab vacancy in Cambridge's Kendall Square has been near zero for some time, as tech and biotechnology tenants flood the neighborhood in search of skilled talent and proximity to nearby institutions like MIT and Harvard University.
Roku (NASDAQ:ROKU) unquestionably has had an incredible 2019. Earnings continue to beat expectations. Growth has impressed. The ROKU stock price has soared, climbing 348% to this point. Among stocks with a market capitalization over $4 billion, not one has come close. Snap (NYSE:SNAP) is in second place, with a paltry-by-comparison 184% gain.Source: jejim / Shutterstock.com Even after those gains, ROKU stock looks reasonably cheap -- at least by the standards of this tech market. The midpoint of revenue guidance for 2019 suggests a roughly 14x enterprise value/revenue multiple. In a market where Shopify (NYSE:SHOP) is getting 25x+ and double-digit EV/sales multiples aren't uncommon, that figure isn't necessarily out of line.With Roku's pole position among cord-cutting and international possibilities, that type of multiple seems merited. But I'm no longer sure that's the case. The issue isn't necessarily the headline multiple. Investors mostly have done well by paying up for growth in this market. It's that, looking closer, Roku's current valuation for several reasons looks highly questionable -- even if, admittedly, I've made that argument before.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Player Revenue Shouldn't Count for the ROKU Stock PriceAgain, 14x revenue isn't that crazy in this market, even if that statement alone makes some investors wonder if the entire market has gone crazy at this point. But it's important to remember, as I've noted before, that not all of Roku's revenue is worth paying up for.The company's guidance, updated after this month's second-quarter earnings report, is for revenue of $1.1 billion at the midpoint. But roughly one-third of those sales are coming from Roku players -- which are actually unprofitable. * 10 Undervalued Stocks With Breakout Potential Player gross margin in the second quarter was just 5.5%. Gross profit dollars for players over the past four quarters total just $23 million -- suggesting 6.5% gross margins. Given that research and development spending alone has been over $200 million during that stretch, the player business obviously is a loss leader for the company's platform business.And that's fine. Platform revenue is growing at an exponential rate: 79% year-over-year in Q1 and 86% in Q2. But investors shouldn't be paying 14x revenue -- or really, anything, for the player revenue.Back out those hardware sales, and the ROKU stock price now sits above 20x this year's revenue. That is a multiple that, on its face, looks questionable. It's a multiple assigned to companies that have the potential for dominance of their market. Roku isn't necessarily one of those companies, at least not yet. The Market Share QuestionWhat's interesting about Roku is that it's driving growth while facing competition from absolute giants. This is a company going directly against Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) -- three of the four most valuable companies in the world. It has leading market share in terms of streaming devices in use.But it's still a relatively fragmented market. And in smart TVs, which is where Roku management itself believes streaming is going to go, its share in the first half of this year was "more than one in three," according to the shareholder letter.To be sure, Roku may be able to take share over time. More users means more data, which combined with the company's machine learning capabilities improves the experience. The Roku Channel increasingly looks like a gateway to streaming. It also looks like a business in which Roku can take dollars from streaming services, take dollars from advertisers and potentially take eyeballs (and maybe at some point dollars) through its own content.Still, Roku seems potentially unlikely to ever truly dominate the space. Competition is always going to be a factor -- and those larger rivals can find a way to undercut on pricing for streaming services and for advertisers. At 20x+ platform revenue, an investor should at least think she's buying the clear winner in an industry. That's not yet guaranteed to be the case. Where Does Streaming Go?The broader question is that this remains an industry still in the early stages -- which means Roku's long-term role in the ecosystem may change over time. Right now, there are dozens of streaming services of all sizes -- with more on the way. Disney (NYSE:DIS), Comcast (NASDAQ:CMCSA), and AT&T's (NYSE:T) unit WarnerMedia all are launching major efforts within the next 12 months.But many of the existing services -- and possibly one or two of the larger offerings out there -- are going to go by the wayside at some point. The glut of so-called virtual multi-channel video programming distributors like YouTube TV, Sling, DIRECTV NOW and others will ease.Roku's potential base of advertising customers, in particular, is likely to peak in the next 12-18 months. A less-fragmented streaming universe would give more power back to the winners -- and lower overall demand and pricing power for Roku.From a broad standpoint, there are simply a lot of questions here. Roku certainly is going to grow going forward. This is not the next TiVo (NASDAQ:TIVO). But, again, this is a stock selling at 20x its key revenue stream -- and something like 400x 2019 adjusted EBITDA.It's a valuation that leaves little room for questions. And it's a valuation that is likely to recede if, at some point, those questions are raised.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks to Ride High on the Farm Bill * 8 Biotech Stocks to Watch After the Q2 Earnings Season * 7 Unusual, Growth-Oriented REITs to Buy for Your Portfolio The post Why the Roku Stock Price Needs to Pull Back appeared first on InvestorPlace.
The 13F filing showed that George Soros bought almost 500,000 Slack (WORK) shares at an average price of $37.5 per share during the second quarter.
One open question after Judge Patricia Lucas' ruling: Whether non-disclosure agreements between government officials and Google are legal.