|Day's Range||67.66 - 74.10|
Google CEO Sundar Pichai announced Friday that his company would be donating more than $800 million in ad credits and loans to help government orgs and small businesses respond to the COVID-19 crisis. Google will be giving $250 million worth of ad grants to more than 100 government orgs across the globe, including the World Health Organization.
The company is working with Magid Glove and Safety to produce 2 million to 3 million face masks, and will financially support efforts to boost the production capacity for lifesaving medical devices and personal protective equipment, Pichai said. The rapid outbreak, which has killed nearly 25,000 people globally, has strained healthcare systems around the world and led to a shortage of medical equipment including face masks and ventilators. The company will provide $340 million in Google ad credits to small and medium businesses active on its platform and $250 million in ad grants for the World Health Organization and many government agencies, Pichai said in a blog post.
Americans searched for ‘recession’ and ‘unemployment’ well before the data emerged to confirm their fears. And, once they were told to practice social-distancing, they turned to other search terms, a few of which reflect the rise and fall of stocks.
The Mountain View Internet giant is giving away hundreds of millions of dollars to businesses, governments and nonprofits hit by the coronavirus pandemic.
March downloads of the Peloton app — which offers yoga and body strength classes if you don’t have the $2,000-plus stationary bike — are five times higher than February’s, according to data from Sensor Tower. Yoga app Down Dog told MarketWatch that 400,000 people have signed up for free memberships in the last two weeks; 100,000 came from Spain, Italy and France, the three European countries hit hardest by COVID-19.
The survey, released by the Interactive Advertising Bureau, asked 390 media buyers, media planners, and brand executives about their U.S. advertising plans for the rest of 2020.
Googles pledges $340 million in ad credits to small and medium-size businesses as part of a more than $800 million package to help fight the coronavirus.
(Bloomberg) -- Google is pledging $800 million in relief funds to customers and health-care workers, joining a list of corporations providing money and materials to address the coronavirus pandemic.The contributions include $250 million in advertising credits for the World Health Organization and $340 million to small businesses to run promotions with Google, Sundar Pichai, chief executive officer of Google and parent Alphabet Inc., announced Friday. The economic fallout from the pandemic has dried up marketing spending. Another $20 million gives researchers working on the novel virus credits to use the company’s cloud-computing services.Google also said it would be working with a partner, Magid Glove and Safety Manufacturing LLC, a supplier based in Illinois, to produce between 2 million and 3 million face masks in the coming weeks. Protective masks are in dire shortage across hospitals in the U.S.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.
This cowboy got roped into running a museum’s social media during the pandemic — and the results have been almost too good to be true. A National Cowboy Museum security guard has become one of the internet’s latest feel-good stars for his folksy attempts at, as the story goes, managing the museum’s Facebook (FB) Twitter (TWTR)and “the Instagram” accounts (his words) while the Oklahoma City institution remains closed amid the coronavirus outbreak. Tim, for whom a last name was not made immediately available by the museum, introduced himself to the online world with a St. Patrick’s Day post explaining he would be managing the museum’s social media while, of course, also continuing to protect and monitor the museum.
(Bloomberg) -- Apple Inc. joined technology giants such as Alphabet Inc.’s Google in launching Covid-19 screening tools for users to help curb the spread of the coronavirus.The Cupertino, California-based company on Friday released an app for iPhones and iPads with information abut the pandemic and questions to help users determine if they should be tested for the illness. Apple also released a corresponding website with similar functions. The company said it partnered with the U.S. Centers for Disease Control and Prevention, the White House Coronavirus Task Force and the Federal Emergency Management Agency to build the tools.Apple previously added CDC guidelines about social distancing and curbing the spread of the virus to many of its online platforms, including its website, the App Store and Apple Music. It also recently added answers about the virus to its Siri digital assistant.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.
(Bloomberg) -- The coronavirus pandemic has put on indefinite hold a major portion of the U.S. Supreme Court’s docket, including a multibillion-dollar clash between software giants Google and Oracle Corp. and cases that could affect President Donald Trump’s re-election chances.What was supposed to have been a drama-filled spring at the high court has instead become a season of waiting, especially for the lawyers and litigants in 20 arguments that had been scheduled for March and April. The court has postponed 11 of those cases and could do the same soon for the remaining nine.The cases include fights over congressional and grand jury subpoenas for Trump’s financial records -- clashes that need to be resolved in the court’s current term to give the president’s critics any chance of seeing the documents before the November election. Also on hold is a clash over the Electoral College for presidential elections and an $8 billion copyright dispute between Alphabet Inc.’s Google and Oracle.It’s not clear whether the justices are still hoping to resolve those cases in their current term, possibly by forgoing argument or by breaking tradition and hearing arguments by phone or online. Lawyers say they’ve received no guidance from the court on the subject, though briefing deadlines are still in force. The term normally ends in late June, although that time frame is now in doubt as well.‘Just Waiting’“As far as oral arguments go, we’re just waiting upon the court,” said Jay Sekulow, the lead lawyer for Trump in the president’s bid to block a New York grand jury subpoena for the president’s financial information. The case had been set for argument March 31.Courtroom arguments are unlikely anytime soon. Elderly people are at increased risk of dying should they contract the coronavirus, and two justices are in their 80s -- Ruth Bader Ginsburg, 87, who’s been treated in recent years for pancreatic and lung cancer, and Stephen Breyer, 81. Four others are 65 or older, including Justice Sonia Sotomayor, 65, whose type 1 diabetes puts her at additional risk.The court is moving ahead with rulings in dozens of cases that have already been argued. The justices issued four opinions earlier this week and plan to issue more on Monday. All nine justices are healthy and took part in a scheduled private conference by phone Friday, spokeswoman Kathy Arberg said.Time-Sensitive CasesThe grand jury subpoena case shows the difficulty of holding arguments in the near future. Sekulow’s adversary would be Carey Dunne, a lawyer in the Manhattan district attorney’s office whose city is at the epicenter of the Covid-19 outbreak. The White House says anyone traveling from New York should self-quarantine for 14 days.And yet the subpoena cases are also among the most time-sensitive, at least from the standpoint of the Democrats seeking the information. Lower courts required Trump’s banks and accountants to turn over the records, which could include his tax returns, but those rulings are on hold.“Delaying this case is effectively picking a side,” seven liberal groups led by Demand Justice said Wednesday. “Every day that Trump is allowed to keep his tax returns secret is a day that he has won and the public has lost.”Similarly, the court had been aiming to resolve clashes over the Electoral College, the body that will formally select the next president, before any election controversies may arise. At issue in cases scheduled for argument April 28 is whether states can stop “faithless electors” who try to cast a vote for someone other the candidate who won their state’s balloting.“We’ve gotten no indication about whether it’s going forward,” said Lawrence Lessig, a Harvard Law School professor and the lawyer for two groups of electors who say they have the right to vote as they please. But “we’re preparing as if it is.”Google and OracleOther cases could more easily be deferred until the new term opens in October. That includes Google’s appeal of a ruling that the software giant improperly used Oracle’s copyrighted programming code in the Android operating system. Oracle says it’s entitled to at least $8.8 billion in damages in the case, which had been scheduled for a March 24 argument.Google’s lawyer, Tom Goldstein, said he is preparing as if the argument will now be in April even though “it’s unlikely.” That includes taking part in “moot court” practice arguments using Google video chat, he said.Joshua Rosenkranz, Oracle’s lawyer, said he’ll put his three planned moot courts back on his schedule once the court sets a new argument date. He said he expects Chief Justice John Roberts, who argued 39 Supreme Court cases before becoming a judge, will ensure the lawyers have ample time to ramp back up.“The chief justice certainly knows how much time it takes to prepare to stand up in the Supreme Court,” he said.(Updates seventh paragraph to show opinions will be released Monday, justices are healthy)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.
Billionaire investor believes markets have bottomed, but thinks Covid-19 fears will worsen during 2nd quarter Continue reading...
The disruption of society and business due to the Covid-19 pandemic has battered the stock market, but Amazon is uniquely positioned to perform well due to changes in consumer behavior.
A thousand Google LLC employees have volunteered to help with the novel coronavirus triage testing program developed by fellow Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOG) subsidiary Verily.What Happened "People across Alphabet are volunteering time [and] I've never seen so much commitment to do the right thing," Verily chief medical and scientific officer Jessica Mega told CNBC in a telephonic interview.Verily had screened more than 20,000 California residents and tested more than 1,200 as of Wednesday with the help of the increased manpower, Mega said.The Verily triage program launched on March 15 in the Santa Clara and San Mateo counties of California. Earlier this week, it expanded the program to Riverside and Sacramento counties.Verily also launched a video on Thursday detailing how the testing works.Why It Matters Google had launched a separate coronavirus information website earlier this month.A number of other companies, including Apple Inc. (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT), the Space Exploration Company, and Tesla Inc. (NASDAQ: TSLA) have stepped in to participate in the efforts against the pandemic.Apple has said that it would donate 10 million masks to healthcare workers to protect them against the deadly virus. Tesla is making ventilators, while the other company led by Elon Musk, SpaceX, is developing face shields and protective suits.The United States now has the world's highest number of confirmed coronavirus cases at 85,991, according to data from Johns Hopkins University.Price Action Alphabet Class A shares closed 5.65% higher at $1,162.92 and traded slightly higher in the after-hours session at $1,163. Class C shares closed 5.38% higher at $1,161.75 and traded nearly 0.2% lower in the after-hours at $1,159.55.Photo Credit: Courtesy of Verily.See more from Benzinga * Veeva Systems' CRM Product Is Seeing Ten Times More Usage During Coronavirus Pandemic * Trump Lashes Out At Washington, Michigan Governors For Pandemic Response: 'We Don't Like To See The Complaints' * Slack To Integrate With Microsoft Teams For Cross-Platform Calls(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Many parents have toyed, even fleetingly, with home schooling. The idea conjures up idyllic images of bright-eyed children and earnest parents clustered at the kitchen table, unravelling the mysteries of maths, science and languages free of the dogma and strictures of conventional education. Kitchen tables strewn with books and cereal bowls; frustrated parents trying to remember how to do improper fractions while taking part in a Google Hangout with work colleagues; fights over laptops as children insist they need to log on to online lessons — such scenes will have been repeated in households across the world.
(Bloomberg) -- Major Google services including YouTube, video-calling and Gmail were hit by partial outages Thursday while the internet giant’s infrastructure is experiencing record usage during the coronavirus pandemic.People around the world tweeted that various services were down. Urs Holzle, who overseas Google’s data centers, said the problem came from a router failure in Atlanta and wasn’t virus-related.“This wasn’t related to traffic levels or any kind of overload, our network is not stressed by Covid-19,” Holzle said on Twitter. “Things should be back to normal now.”Alphabet Inc.’s Google has largely been able to keep its services running as millions of people have been forced to stay at home to help slow the spread of the virus. The company’s Hangouts video-calling service is being used by students around the world to attend class remotely. YouTube is seeing a surge in traffic as more people look for entertainment and information online. The company has already lowered the default quality of streamed video to reduce the toll on internet service providers.(Updates with comment from Google executive in the second paragraph)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.
“This is not a bubble or a trend,” says Erika Karp, CEO of Cornerstone Capital, an investment advisor with a sustainable focus. “ESG analysis is way more important than we could have imagined.”
(Bloomberg) -- Huawei Technologies Co. is about to test the demand for flagship smartphones in China, and the chief executive officer of its consumer business said he’s confident markets and manufacturers are ready.Richard Yu said that the Chinese government’s strict limitations on public mobility at the start of the year to bring the spread of Covid-19 under control are beginning to relax as the virus has died down, and the country is open for business again.“It’s under control and most stores are open,” he said in an interview on Thursday ahead of the company’s launch of its P40 range of flagship smartphones. “The supply chain and manufacturing in China has recovered.”The Covid-19 outbreak is just the latest in a number of high-profile existential challenges to Huawei. The company’s also been battling global scrutiny over its telecom equipment, and was added to a U.S. government blacklist that blocked it from using popular versions of the Android operating system.Yu said he’s confident a relationship with the U.S. can be rebuilt.“We want to continue our partnership with Google,” he said, adding that Huawei is in discussions with the Alphabet Inc. company. “We hope this issue can be solved, but we’re not the government so we can’t make the decision. They’re a smart government, and I hope they can give a license.”Coronavirus, SalesIn the first quarter of 2020, amid the novel coronavirus’s rapid spread across the globe, shipments of Huawei’s wearable devices grew 75%, while PCs and wireless earphones grew about 110% and 150% respectively, a spokeswoman for the company said.Yu said one significant contributor to the growth of these products was the large number of people working and going to school from home.Still, demand for smartphones is slowing, and manufacturers are trying to find new ways to convince consumers they should upgrade their devices. Bendable products are an increasingly popular strategy being tried out by some of the world’s biggest device makers, including Huawei.In February, it announced a second-generation version of its Mate X folding phone, which up to that point had been sold mostly in its home country. Yu said the phone isn’t profitable, but demand is outpacing supply.“With time and more production we can bring the cost down and make it more competitive,” he said.Yu also said that the P40 -- which comprises three models with a range of features and price points -- is the first Huawei smartphone to only support fifth-generation, or 5G, networks.He said he was confident that “2020 is the first year 5G will take off, so that’s why the P40 is purely a 5G phone.”Ben Wood, chief of research at analyst group CCS Insight, said that although “arguably there could not be a worse time to launch a set of premium smartphones, Huawei may be in a better position than some rivals.”Wood agreed that indications are that Huawei’s home market is starting to recover from the impact of Covid-19, and “given that Huawei has been shipping over 40 million units a quarter in China in recent times, this provides a strong foundation for the business.”The P40 range announced Thursday sits at the top end of Huawei’s product line and comprises three variants: the P40, P40 Pro, and P40 Pro Plus. They all feature high-resolution multi-lens camera systems, and the top models include screens that curve at the edges.The phones also introduce Huawei’s Celia voice assistant as an alternative to the Google Assistant, which as a result of the U.S. trade embargo isn’t available on the open-source version of Android used by Huawei for the devices.The P40 goes on sale in April, starting at 799 euros ($878).As the Covid-19 pandemic continues to spread across Europe and the U.S., Yu said he’s hopeful governments in affected countries would be able to contain the crisis.“I hope the U.K. and the world recovers soon from coronavirus,” he said. “The experience from China was that the government very strictly limited the mobility of people, and quickly everything came under control. I think governments in the rest of the world are taking action like China and will quickly control it too.”(Updates with analyst comment, P40 specifications from 14th paragraph)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.
A SunTrust analyst cut his price target on Alphabet to $1,350 from $1,600, calling the coronavirus's impact on advertising "a shock to the system."