|Day's Range||232.00 - 232.00|
Its new hardware serves a larger purpose.
A positive up/down volume ratio is a good sign when a stock is trying to break out, including new IPOs. Consider Google stock Alphabet in 2004, the year of its market debut.
Google has unlocked more potential for Google Pay in Brazil. The company has introduced a debit card payment function on Google Pay in the country.
The pot bubble has burst, but many companies’ shares are still trading at unjustified levels, says Brian Livingston.
A federal judge in New Jersey has cleared InvenTel Products to proceed with its lawsuit against Google (GOOGL), Reuters reports.
About 150 mothers with babies and young children defied a police ban on climate protests to stage a "nurse-in" outside the London offices of Google on Wednesday, while activists launched a parallel protest at the premises of its subsidiary YouTube. The mothers said they were acting in response to a report in Britain's Guardian newspaper last week that said Google has made "substantial" contributions to climate deniers in Washington despite saying it supports climate action. "It's just a terrible betrayal to all the parents, families and children that are suffering as a result of the climate and ecological crisis," said Lorna Greenwood, one of the organisers of the mass nurse-in.
Google (GOOGL) enlisted Nokia's HMD to testify in its favor during a lawsuit with the EU’s (European Union) General Court over a huge antitrust fine.
There were variations among the dozen Democratic presidential candidates, but it was clear that the wealthiest, who own the lion’s share of financial assets, were being targeted.
(Bloomberg) -- Broadcom Inc. was ordered to drop allegedly unfair clauses that may compel set-top box makers to use its chips, as European Union antitrust chief Margrethe Vestager deployed a rarely used weapon meant to prevent victims from suffering while probes drag on for years.Broadcom must end "anti-competitive provisions" in contracts within 30 days while the EU continues an investigation into allegations that the U.S. supplier forces six of its main customers to buy its chipsets. While the order announced on Wednesday is set to remain in force for three years or until the EU finishes its probe, Broadcom says it will ask an EU court to overturn it."The evidence that we have gathered from Broadcom’s behavior is likely to have severe negative effects on competitors before we could reach a final decision,” Vestager told reporters in Brussels. She said the so-called interim measures tool is "now on the table" and "if we find cases where interim measures would actually be the thing to do to prevent irreparable harm to competition then obviously we stand willing to use it."The EU hasn’t used interim measures in nearly two decades. The Broadcom move comes after criticism that EU probes into Google and Intel Corp. -- where the tool wasn’t used -- took so long that victims of unfair practices were thwarted by the time fines were levied.Court Fight"We intend to appeal the commission’s decision to the European courts and in the meantime comply with the commission’s order,” Broadcom said, adding that it doesn’t believe the contested provisions “have a meaningful effect on whether the customers choose to purchase Broadcom products."Officials said swift action was necessary because Broadcom’s conduct was likely to affect several upcoming tenders by telecoms providers and the introduction of the WI-Fi 6 standard for models and TV set-top boxes.Broadcom, based in San Jose, California, has also been targeted by U.S. antitrust scrutiny of WI-Fi and switch-chip markets, a probe covering the vast majority of its chip business. Broadcom has described that investigation as immaterial.The EU’s order would be "a landmark moment" for antitrust enforcement, especially if it’s backed by the bloc’s courts, France’s antitrust chief Isabelle de Silva said at a Paris event last week. The EU’s last attempt to use interim measures was halted by a court order in 2001. The regulator had required IMS Health to license data-collecting tools in Germany. The company later partly won a legal challenge that allowed it restrict some licenses.Arris International Plc was among the Broadcom customers to receive a questionnaire from the EU on chips in hardware used by the cable and satellite industry to provide television and internet to consumers, Bloomberg reported in October.(Updates with Broadcom statement in fifth paragraph.)To contact the reporter on this story: Aoife White in Brussels at email@example.comTo contact the editors responsible for this story: Anthony Aarons at firstname.lastname@example.org, Peter Chapman, Amy ThomsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- One of the sharper exchanges in Tuesday’s Democratic primary debate centered on the crucial public policy question of what to do about President Donald Trump’s Twitter account.During a broader back-and-forth over the power of large technology companies, Senator Kamala Harris repeatedly demanded that Senator Elizabeth Warren support her effort to pressure Twitter to kick President Donald Trump off the platform. In response, Warren steered the conversation to her commitment not to accept big checks from tech executives. Entrepreneur Andrew Yang, who had been lamenting the prevalence of smartphone addiction a moment earlier, jumped in to complain that Americans weren’t getting paid for their data. “Who remembers getting your data check in the mail?” he asked. The exchange illustrated a wider dynamic of the Democrats’ approach to tech. The candidates all agree that something needs to be done about America’s technology giants. They just can’t agree on what that something is.The need for a crackdown on large U.S. technology companies has become an area of bipartisan agreement, with Republicans and Democrats alike raising concerns about market power, privacy and the influence large tech companies have over political discourse. But unlike time-worn political flash points like abortion or gun control, the tech debate has yet to be boiled down to simple left-right bromides that candidates can repeat on the stump. The result was an unfocused conversation on the debate stage. Warren, who was treated as the frontrunner throughout the evening, has put out the clearest plans among the Democratic candidates. For months she’s been calling to break up Facebook Inc., Amazon Inc. and Google. “I'm not willing to give up and let a handful of monopolists dominate our democracy and our economy. It's time to fight back,” she said Tuesday. Yang said he agreed with her diagnosis. “Monopolies need to be dealt with,” added Tom Steyer.But the conversation quickly shifted from antitrust to privacy to election security. And candidates weren’t just thinking about breaking up Big Tech. Senator Cory Booker called for antitrust action that focused on everything from “pharma to farms” – referencing efforts to investigate consolidation in the pharmaceutical and agricultural industry. Most candidates focused their ire on Facebook and Twitter Inc. Harris’s attempt to browbeat Warren into supporting her stance on banning Trump’s Twitter account was notable for how it highlighted a parallel with Warren’s own crusade to pressure Facebook to ban misleading Trump ads on Facebook. Warren declined to comply and called out Amazon’s dominance in online shopping, saying that it held a much larger share of online sales than Walmart does of brick-and-mortar commerce. At another moment in the debate, Senator Amy Klobuchar brought up the Honest Ads Act, a bill she co-sponsored that increases disclosure requirements on who is paying for online advertisements. For his part, former Congressman Beto O’Rourke said that Facebook should be treated like a publisher, seemingly an allusion to a 1990s-era law protecting technology platforms from much legal liability for content their users post to their websites. “We would allow no publisher to do what Facebook is doing,” O’Rourke said. On the other hand, O’Rourke said that he did not see it as the role of a presidential candidate to call out particular companies that needed to be broken up. It was a subtle dig at Warren, whose explicit plan to break up the companies has clearly made her the candidate who other candidates measure their own ideas on tech against. To contact the author of this story: Eric Newcomer in New York at email@example.comTo contact the editor responsible for this story: Joshua Brustein at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Huawei Technologies Co.’s revenue jumped 24% in 2019’s first nine months, defying Trump administration sanctions to sustain growth in its pivotal smartphone business.China’s largest technology company reported revenue of 610.8 billion yuan ($86.1 billion) in the January to September period. Global smartphone shipments jumped 26% in the first three quarters to over 185 million units, helping safeguard its position as the world’s second largest name in mobile devices.China’s largest technology company managed to grow revenue despite curbs on the export of crucial American software and components, which executives had warned for months would severely crimp both its networking and smartphone businesses. Huawei has said it expects U.S. export restrictions to reduce annual revenue at its consumer devices business by about $10 billion, in part because Google can no longer supply Android updates and apps from Gmail to Maps for the Chinese company’s newest handsets.The company’s reported results -- which were unaudited -- suggest that those restrictions have yet to severely impair the business. Huawei, accused by Donald Trump’s administration of aiding Beijing in spying while spearheading China’s tech-superpower ambitions, is trying to claw back business and shore up trust in its products.Billionaire founder Ren Zhengfei has warned his tech empire faces a “live or die moment,” and mobilized thousands of staff to work around the clock devising alternatives to American technology. Some American giants, including Intel Corp. and Micron Technologies Inc., have said they’re found ways to resume supplying Huawei, a major boost for the Chinese company.Huawei Sales Growth Slumps as U.S. Sanctions Start to BiteIts phone shipments in 2019 suggest its lead in the Chinese market, the world’s largest, is offsetting weak sales abroad. Huawei shipped more than 206 million smartphones in 2018, according to research firm IDC. The company is betting on its home turf and upcoming holiday season to drive its smartphone sales for the rest of the year. It aims to take half of the smartphone market in China, Bloomberg News reported earlier.There are signs also that U.S. efforts to block Huawei from the development of 5G technology are flagging: Huawei said Wednesday it has signed more than 60 5G commercial contracts to date worldwide. A senior executive in India for the company said the government there had given “no negative feedback” on Huawei, while in Germany, one of the biggest European markets, the Merkel administration said Huawei’s equipment will not be excluded in future 5G procurement. Huawei’s biggest bet, however, remains in China, where state-owned carriers are ready to build their own 5G networks.It remains unclear whether prolonged sanctions will eventually rob Huawei of growth, something Ren himself has warned may happen. Huawei remains at the heart of U.S. tensions with China, a symbol of the Asian country’s rising technological might.Critics charge that intellectual property theft from the likes of Cisco Systems Inc. and Motorola Solutions Inc. helped Huawei vault into the upper echelons of telecommunications providers, though Ren and his executives credit years of investment and research. The wireless giant is now accelerating spending on artificial intelligence chips and mobile software. It’s mobilizing its employees to source or develop alternatives to American circuitry and software to keep its edge in smartphones and next-generation 5G wireless technology.To contact Bloomberg News staff for this story: Gao Yuan in Beijing at email@example.comTo contact the editors responsible for this story: Peter Elstrom at firstname.lastname@example.org, Colum Murphy, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Google’s latest smartphone demonstrates how artificial intelligence and software can enhance a camera’s capabilities, one of the most important selling points of any mobile device.The Pixel 4, the latest entrant in a phone line defined by its cameras, touts an upgraded ability to zoom in when shooting photos as its biggest upgrade. But the Alphabet Inc. company isn’t going about it the way that Samsung Electronics Co., Huawei Technologies Co. or Apple Inc. have done -- instead of adding multiple cameras with complicated optics, Google has opted for a single extra lens that relies on AI and processing to fill in the quality gap.In place of the usual spec barrage, Google prefers to talk about a “software-defined camera,” Isaac Reynolds, product manager on the company’s Pixel team, said in an interview. The device should be judged by the end-product, he argued, which Google claims is a 3x digital zoom that matches the quality of optical zoom from multi-lens arrays. The Pixel 4 has two lenses with a magnification factor between them that’s less than 2x, and the tech that extends that useful range is almost entirely software.The success of the Pixel’s camera is instrumental to Google’s broader ambitions: it drives Google Photos adoption, provides more fodder for Google’s image libraries, and helps create better experiences with augmented-reality applications -- such as this year’s new on-screen walking directions in Google Maps.Google’s IPhone Retort: More Cameras and AI in New Pixel PhonesSuper Res Zoom, a feature Google launched last year, uses the slight hand movements of a photographer when capturing a shot -- usually a hurdle to creating crisp images -- as an advantage in crafting an image that’s sharper than it otherwise would be. The camera shoots a burst of quick takes, each one from a slightly different position because of the camera shake, then combines them into a single image. It’s an algorithmic trick that lets Google collect more information from imaging hardware, and potentially also a moat against any rivals trying to copy Google -- because others can’t just buy the same imaging sensors and replicate the results.To augment its reliance on AI and machine-learning tasks, Google has designed and added its own Pixel Neural Core chip for the Pixel 4 lineup. It accelerates the machine-learning speed of the device and, again, is intended to differentiate Google’s offering from other Android smartphones on the market with a Qualcomm Snapdragon processor at its core.The other major tool in Google’s AI kit is called RAISR, or Rapid and Accurate Image Super Resolution, which trains AI on vast libraries of images so it can more effectively enhance the resolution of images. The system is taught to recognize particular patterns, edges and visual features, so that when it detects them in lower-quality shots, it knows how to improve them. That’s key to creating zoom with “a lot smoother quality degradation,” as Reynolds put it. With more than a billion Google Photos users, the U.S. company has a massive supply of images to train its software on.Among the other features that Google offers with the Pixel 4 is the ability to identify the faces of people that a user photographs most often and ensure that they’re prioritized when capturing new snapshots -- making sure the camera focuses on them and that their eyes aren’t closed, for instance. That use of software technology has defined Google’s devices to date and is also evident in the way Facebook Inc., Amazon.com Inc. and Apple aim to employ their own AI systems.To contact the reporter on this story: Vlad Savov in Tokyo at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Peter ElstromFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- India’s largest startup is ready to birth its own unicorn. That’d be unusual anywhere, but that it’s happening in India offers some hope for the country’s long-awaited tech renaissance. This is also great news for Walmart Inc. The U.S. retail behemoth paid $16 billion for 77% of India e-commerce company Flipkart Group in May last year. That deal included payments unit PhonePe — an early pioneer in the digital-wallet business — which Flipkart had acquired two years earlier. Now Walmart is engineering a spinoff as part of a $1 billion funding round that could value payment unit at up to $10 billion and give the retailer an 82% stake in PhonePe and Flipkart, India’s Economic Times reported. From one $20.8 billion company 18 months ago, India will get two unicorns at a combined value of up to $30 billion.(1)There are already indications that PhonePe has shed its Flipkart training wheels. From 50% of its transactions three years ago, Flipkart now accounts for just 0.5%, Indian media outlet The Ken reported, citing PhonePe’s head of strategy and planning. During Flipkart’s annual Big Billion Days sale last month, PhonePe’s logo no longer had top billing on the e-commerce website, according to The Ken. Instead it was listed as just one of the many payment options available to online shoppers. That PhonePe is preparing to fly solo is also a sign of India’s maturing digital sector. Not only is the company willing to directly tackle rivals such as Alphabet Inc.’s Google Pay and Facebook Inc.’s forthcoming WhatsApp payments, but it’s also managing to survive in the scary wilderness beyond the gates of Flipkart. (Survive, of course, is a relative term. It’s likely still burning cash and posting losses, though at least it can keep up with well-funded adversaries, a key measure of success at this point in the game.)More broadly, the PhonePe spinoff would strengthen the case that a homegrown hero can hold its own when foreign rivals enter. Paytm, another Indian startup, is on the verge of landing a $2 billion round of funding from investors including Ant Financial, SoftBank Group Corp. and Discovery Capital Management which could give it a $16 billion valuation, Bloomberg News reported this week.Hopefully the momentum at both PhonePe and Paytm will spur more Indian entrepreneurship, feeding a rebirth in India’s tech sector not seen since the IT-outsourcing boom two decades ago. While that gave us Tata Consultancy Services Ltd., Infosys Ltd., Wipro Ltd. and dozens more, most of those businesses focused on serving foreign needs. Now, a crop of stars is emerging to meet the needs of India’s 1.3 billion people. It’s not a big step from this spinoff to an actual IPO, a development that will put India back on the global technology map.(1) This assumes no reduced valuation for Flipkart.To contact the author of this story: Tim Culpan at email@example.comTo contact the editor responsible for this story: Rachel Rosenthal at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- Democratic presidential candidates vowed to rein in dominant tech companies through tougher antitrust enforcement, complaining that companies like Facebook Inc. and Amazon.com Inc. are too big and powerful.The candidates said Tuesday night at the Democratic presidential debate in Ohio that the U.S. suffers from monopoly power across the economy and they supported more vigorous enforcement of antitrust laws.“We have a massive crisis in our democracy with the way these tech companies are being used, not just in terms of anti-competitive practices but also to undermine our Democracy,” said Senator Cory Booker of New Jersey.The debate underscored that support for a tougher approach to dealing with big technology companies goes beyond Senator Elizabeth Warren of Massachusetts, who has called for breaking up Facebook, Google and Amazon.Warren called out Amazon specifically for running an online marketplace and competing with third-party sellers on the platform.“You get to be the umpire in the baseball game or you get to have a team, but you don’t get to do both at the same time,” Warren said. “We need to enforce our antitrust laws. Break up these giant companies that are dominating – big tech, big pharma, big oil. all of them.”Still, there were differences among them in approach. Andrew Yang said breaking up tech companies won’t revive main street businesses. Former Texas Representative Beto O’Rourke said tech companies should be treated like publishers instead of like utilities. He criticized Warren for targeting specific companies, something he said President Donald Trump has done.“We will be unafraid to break up big businesses if we have to do that,” he said. “But I don’t think it’s the role of a president or a candidate for the presidency to specifically call out which companies will be broken up.”Harris and O’Rourke criticized social media companies for unevenly enforcing their rules for political content. Their comments came days after Warren’s campaign bought Facebook ads claiming Chief Executive Officer Mark Zuckerberg had endorsed President Donald Trump -- a falsehood quickly corrected in the ad itself but used to showcase that politicians can lie on the platform.Tech companies are facing rising bipartisan pressure throughout the U.S., and the Trump administration, Congress and even the states have quickly ramped up pressure on the companies, particularly on the question of whether they use their size to squelch competition.Alphabet Inc.’s Google faces antitrust probes by the Justice Department, and a separate investigation by a group of 51 attorneys general led by Texas who have demanded documents on the company’s sprawling and lucrative digital ads business. The Federal Trade Commission is also speaking to third-party merchants who sell through Amazon, Bloomberg has reported.Both the FTC and Justice Department, which split antitrust jurisdiction, are also probing the technology sector general, as is a congressional committee led by Democratic Representative David Cicilline that issued extensive document requests to Facebook, Google, Amazon and Apple Inc. in September.After years of hands-off approach by policy-makers, Washington’s concerns have followed a swift decrease in the public’s positive attitudes toward big tech. Just 50% of U.S. adults said technology companies have a positive impact on the country, down from 71% in four years earlier, according to Pew Research Center survey results released July 29. Pew has previously found that a majority of Americans think tech wields too much power.\--With assistance from Ben Brody.To contact the reporters on this story: David McLaughlin in Washington at email@example.com;Naomi Nix in Washington at firstname.lastname@example.orgTo contact the editor responsible for this story: Sara Forden at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The leaders of the House of Representatives Judiciary Committee said late on Tuesday that they had begun receiving data from Facebook, Alphabet's Google, Amazon and Apple as part of their probe into the companies' potential breaches of antitrust law. "We have received initial submissions from Alphabet, Amazon, Apple and Facebook as part of our investigation. While we do not yet have all of the information we requested, we expect that all four companies will provide the information in short order," the committee's leaders said in a joint statement.
“There are other gesture-based features out there, but those are all camera-based,” said Sherry Lin, a Pixel product manager. Soli also helps Google to avoid the privacy complications that might come with using an always-on camera to detect what is going on around the Pixel.
A 23-year-old law giving technology companies legal protection from lawsuits over user-generated content remains critical to the internet's future, Alphabet Inc's Google unit and social media site Reddit Inc said in testimony released on Tuesday. Senior executives from Google, Reddit, the Electronic Frontier Foundation and legal experts are due to face questions on Wednesday in Congress about the 1996 Communications Decency Act, which critics say shields tech companies from dealing with threatening, violent, dangerous or bullying content.
(Bloomberg) -- Yandex NV, often referred to as “Russia’s Google,” has become the latest victim of recent moves by some of the world’s largest economies to engage in rounds of protectionism.The Russian Internet search company lost 16% of its market value on Friday after the Kremlin endorsed a draft law that would limit foreign ownership in major Russian technology firms. The plunge attracted the attention of at least two Wall Street banks, which rushed to Yandex’s defense, writing that the stock was now an attractive opportunity. Shares of Yandex have added back nearly 2% over the past two sessions in New York trading.On Monday, Bank of America defended Yandex, saying that the stock’s slide created a “particularly attractive buying opportunity,” as Yandex could work around the foreign capital limit by creating a new class of shares and dissolving shareholders’ stakes.While the bill seeks to limit foreign capital in “significant information resources” by 20%, Bank of America analyst Cesar Tiron said in a note that Yandex could convert a class B share into an A or C share. And last week, a UBS analyst said the market reaction was “overdone” because the negatives from the proposal “look limited.”The move from Russia, which could take effect starting Jan. 1, comes amid reports that the Trump administration is weighing the de-listing of some Chinese stocks. That would come as part of a broader protectionist push by the White House to limit U.S. investment portfolio flows into China in its continued trade war with the world’s second-largest economy.“The economic model that seems to be behind these policies is that of a world economy that works as a zero-sum game: If Russia wins, the U.S. loses and vice-versa,” said Graciela Chichilnisky, a Columbia University economics professor.A Citigroup analyst said in a report that the Russian internet bill is “certainly a worrying development for Yandex, one that inevitably overshadows operational momentum.”Chichilnisky said that one of the insights of free-market economics is to show that the world economy is not always a zero-sum game, and that groups of nations can benefit from trade, “not always, but on a number of occasions and in a number of ways.”The Russian bill and the U.S. trade war “arises from a zero-sum perspective on the world economy -- perhaps even a negative sum game -- where both traders lose,” Chichilnisky said.To contact the reporter on this story: Anisha Sircar in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Scott Schnipper, Jeremy R. CookeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Robotics company Boston Dynamics is moving its headquarters to a redeveloped former U.S. Postal Service distribution center.
Earnings season begins in earnest on Tuesday, as JPMorgan Chase led the pack of banks reporting third-quarter results, and the numbers aren’t likely to be pretty. Strategists are saying profits for the Standard & Poor’s 500 (SPX) stock index will be down about 4% — not enough to push the U.S. into a recession, but enough to keep questions alive about whether the economy will generate much growth. The corollary to this is that investors should also take projections that corporate profits will rise 10% in 2020 with a grain of salt, CFRA Research strategist Sam Stovall says.
The mothers said they were acting in response to a report in Britain's Guardian newspaper last week that said Google has made "substantial" contributions to climate deniers in Washington despite saying it supports climate action. "We know that politicians and other big corporations will continue to destroy our planet for profit, we know that they will continue to do that, and all we can do is keep going to them with our babies, with our families, and asking them to stop doing that and to join the fight to save our planet," said protester Charlotte Phillips, who came to the protest with her baby. Google said in the Guardian report: "We're hardly alone among companies that contribute to organizations while strongly disagreeing with them on climate policy." The mothers gathered despite police issuing a ban on protests by the Extinction Rebellion group in London late on Monday (October 14).