|Day's Range||113.00 - 113.00|
U.S. tech giants are working hard to continue to sell to Huawei after the company was put on the Entity List.
But before all this can happen, we need tomake sure the thousands of drones in the sky are operating safely
(Bloomberg) -- Google agreed to pay $11 million to end a lawsuit accusing the internet giant of discriminating against older job applicants, a deal that amounts to an average payout of more than $35,000 for 227 people who joined the class action.The settlement also calls for the Alphabet Inc. unit to train employees and managers about age bias, to create a committee focused on age diversity in recruiting and to ensure that complaints are adequately investigated.Lawyers for the company and attorneys representing the over-40 job seekers who sued submitted a final settlement proposal Friday to a federal judge in San Jose, California. Lawyers will collect about $2.75 million from the accord.The case was brought by a woman who claimed she was interviewed by Google four times over seven years and was never offered employment despite her “highly pertinent qualifications and programming experience” because of her age. Cheryl Fillekes accused the company of “a systematic pattern and practice of discriminating” against older people.“Age discrimination is an issue that needs to be addressed in the tech industry, and we’re very pleased that we were able to obtain a fair settlement for our clients in this case,” Daniel Low, a lawyer for Fillekes, said in an email.Google denied the allegations, saying that Fillekes and other job seekers she cited as examples didn’t demonstrate the technical aptitude required for the job, even though they were found by staff interviewers to be “Googley” enough to be a good fit for the company.The company said it still denies that it intentionally discriminated against Fillekes, or any of the other plaintiffs, because of their age. It says it has strong policies in place against discrimination, including age discrimination.The case is Heath v. Google Inc., 15-cv-01824, U.S. District Court, Northern District of California (San Jose).(Updates with Google’s position in last paragraph)To contact the reporter on this story: Robert Burnson in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: David Glovin at email@example.com, Peter Blumberg, Joe SchneiderFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Google reportedly will pay a fine for violating federal data privacy laws relating to children and their use of YouTube.
As the parent company of Google nears its fiscal second quarter results on July 25, the chorus of disapproval over its evasive reporting policy has risen on Wall Street.
(Bloomberg) -- Tinder joined a growing backlash against app store taxes by bypassing Google Play in a move that could shake up the billion-dollar industry dominated by Google and Apple Inc.The online dating site launched a new default payment process that skips Google Play and forces users to enter their credit card details straight into Tinder’s app, according to new research by Macquarie analyst Ben Schachter. Once a user has entered their payment information, the app not only remembers it, but also removes the choice to swap back to Google Play for future purchases, he wrote.“This is a huge difference," Schachter said in an interview. “It’s an incredibly high-margin business for Google bringing in billions of dollars," he said.The shares of Tinder’s parent company, Match Group Inc., spiked 5% when Schachter’s note was published on Thursday. Shares of Google parent Alphabet Inc. were little changed.Apple and Google launched their app stores in 2008, and they soon grew into powerful marketplaces that matched the creations of millions of independent developers with billions of smartphone users. In exchange, the companies take as much as 30% of revenue. The app economy is expected to grow to $157 billion in 2022, according to App Annie projections.As the market expands, a growing revolt has been gaining steam over the past year. Spotify Technology SA filed an antitrust complaint with the European Commission earlier this year, claiming the cut Apple takes amounts to a tax on competitors. Netflix Inc. has recently stopped letting Apple users subscribe via the App Store and Epic Games Inc. said last year it wouldn’t distribute Fortnite, one of the world’s most popular video games, through Google Play.Match declined to answer questions about whether the company was also investigating bypassing Apple’s App Store. Match is expected to discuss the payment flow change with analysts and investors during its next earnings call on Aug. 6.“At Match Group, we constantly test new updates and features to offer convenience, control and choice to our users," Justine Sacco, a spokeswoman for Match, wrote in an email. “We will always try to provide options that benefit their experience and offering payment options is one example of this."Google didn’t immediately respond to requests for comment.Of the high-profile companies that have shunned the App store, Match is the only one that has changed the payment method in-app, Schachter noted. Others have instead forced subscribers back to their own websites to enter payment information.Tinder’s move could spark a domino effect.“Tinder is relatively small and it won’t have a massive impact, but the concern is if this grows and gets into gaming apps as it starts moving forward," Schachter said. “We’re going to see a lot of other companies potentially trying to experiment with this."\--With assistance from Mark Bergen.To contact the reporter on this story: Olivia Carville in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Molly Schuetz, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Leading the Apple (NASDAQ:AAPL) rumor mill today is news of of iPhone dummy models. Today, we'll look at that and other Apple Rumors for Friday.Source: Shutterstock iPhone Dummy: A new leak gives a look at three 2019 iPhone dummy models, reports MacRumors. These new dummy models show off what the 2019 iPhone lineup may look like. There's are 5.8-inch, 6.1-inch and 6.5-inch dummy models. The models look about the same as the 2018 iPhone line. However, they do all feature a square camera bump on the rear. The 5.8-inch and 6.5-inch are sporting three rear cameras. The 6.1-inch model only has two rear cameras.2020 iPhone: It looks like the 2020 iPhone may be rocking a much more powerful processor, 9to5Mac notes. A recent statement from TSMC CEO CC Wei claims that it will have 5nm chips ready in the first half of 2020. This means that the company may be preparing to supply Apple with the chips for next year's iPhone line. The new chips would offer much more power than the 7nm chips that will likely be in the 2019 iPhone line.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSpyware: A recent claim from NSO Group says it can break Apple's security, reports AppleInsider. The Israeli spyware company claims that it can do this with its Pegasus malware. This would allow it to obtain all cloud data from anyone using the company's services. It isn't just AAPL that the group says it can hack. Alphabet's (NASDAQ:GOOG,GOOGL) Google, Microsoft (NASDAQ:MSFT) and others are also allegedly vulnerable.Subscribe to Apple Rumors As of this writing, William White did not hold a position in any of the aforementioned securities.The post Friday Apple Rumors: iPhone Dummy Models Leak appeared first on InvestorPlace.
Amazon (NASDAQ:AMZN) singlehandedly redefined the entire retail landscape. And those who missed out on buying Amazon stock when shares collapsed late last year are feeling pangs of regret. Currently, AMZN is back at its record-busting level, just a few dollars short of $2,000.Despite knowing how amazing the e-commerce behemoth is, I can understand a prospective buyer's hesitation. With AMZN stock again at a key psychological level, it's natural to question how much upside remains. After all, no company, not even Amazon, is immune to correction. Plus, shares already failed at $2,000 almost one year ago.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOn the flipside, Amazon stock has demonstrated incredible accelerative prowess. I remember when shares first hit $1,000, a target InvestorPlace feature writer James Brumley rightly called a "completely arbitrary" level. He advised readers to watch for the pendulum to swing the other direction due to psychological reasons.With the benefit of hindsight, we can say Brumley was right. But you would have also been correct to continue holding onto AMZN stock through the brief respite. That's because within a few months, shares decisively broke past $1,000 again, never to look back. * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip Just a little over a year after Amazon stock hit four digits, it briefly exceeded $2,000. That's the kind of explosive momentum you get with this equity. But will history repeat itself?Here are three reasons why you can trust AMZN stock for the long haul: Amazon Prime Day Is Practically a National HolidayAny sales event that AMZN puts out is virtually guaranteed to be huge. That said, the summer event known as Amazon Prime Day has veritably become a national holiday. And this reason alone is enough to justify exposure to Amazon stock, even at these elevated levels.Although the retailing giant and tech firm didn't break out specifics for its most recent Prime Day, it was gargantuan. According to a report from CNN, management did disclose that it was their biggest shopping event ever. More impressively, they said that the event's total revenue tally exceeded the company's Black Friday and Cyber Monday sales combined.To put this into further perspective, analysts estimate that AMZN rang up $6 billion during Prime Day. That's very close to the entire retail industry's $6.22 billion Black Friday sales haul via online channels.Thus, not only has Amazon created a shopping holiday, it has also disrupted the industry again, stealing valuable market share. And with such a powerful weapon they can deploy annually, I don't see where Amazon stock can go wrong. Fundamentals Justify the Amazon Stock PremiumAnd why is AMZN stock so dominant in the investment marketplace? Because Amazon is one of those rare companies where the growth narrative consistently justifies the rising share price.Perhaps a little known or appreciated fact is that since at least the fourth quarter of 2007, Amazon has never failed to deliver double-digit sales growth on a year-over-year basis. That's a profoundly remarkable feat, and it's likely to be this way for some time. Click to EnlargeSince Q4 2007, the average YoY growth rate is 29%. Since Q1 2016, that average growth has held at the same rate.Typically, growth companies cease being as such because their substantially increased size makes it difficult to grow any further. I believe most folks refer to this condition as the "law of large numbers."But whatever you want to call it, one thing is clear: it's crazy difficult to remain relevant for so long, especially in the broader tech industry.Yet that's exactly what Amazon is doing. Therefore, I wouldn't focus too intensely on the Amazon stock price: as long as the growth engine remains (see first point), AMZN will tag along for the ride. AMZN Is Always HungryIf I had to guess what Amazon's secret sauce is, I'd say its their drive. From my perspective, they're always attacking opportunities as if it's their last shot. Too many companies (and people, for that matter) give into complacency when they achieve a certain level of success.In sharp contrast, Amazon takes the opposite route: the more successful they become, the hungrier they get. It's such a refreshing strategy. More importantly, this hunger represents the intangible element that breeds trust in AMZN stock.For instance, Amazon is diving into the advertising space. Of course, that puts it square against advertising giants like Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) and Facebook (NASDAQ:FB). Yet Amazon is performing admirably, taking market share from the alpha dogs.This hunger also leads to the fact that Amazon stock isn't just a retail investment: it offers exposure to cloud computing, data centers, courier services, even groceries. Not only that, they're incredibly competent in their key endeavors. And that really drives confidence for AMZN stock over the long-term picture.As of this writing, Josh Enomoto 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 3 Reasons Why You Can Trust Amazon Stock at $2,000 appeared first on InvestorPlace.
After making headlines with its astonishing public debut without the help of bankers, Slack (WORK) seems to have lost steam in July.
Editor's note: InvestorPlace's Earnings Reports to Watch is updated weekly. Please check back next week for our latest earnings picks.Earnings season has arrived - and so far, it hasn't been great news. Bank earnings reports looked mixed. Netflix (NASDAQ:NFLX) fell hard after earnings, hitting tech indices. The market isn't quite set to crash, but a modest pullback this week at the beginning of the earnings calendar might suggest some caution.Further downside wouldn't be necessarily surprising, but it would be ironic. As I've noted in this space before, the worry about the market in recent months was that a relative lack of earnings reports would be a problem. Corporate earnings mostly provided good news for the market in recent years. External factors, most notably the trade war with China, were seen as the big risk.InvestorPlace - Stock Market News, Stock Advice & Trading TipsU.S. equities instead confounded expectations by moving higher despite seemingly negative news on the macro and political fronts. The risk now, with the earnings calendar again full, is that investors might be asking more of U.S. companies than they can provide in this environment.The earnings calendar this week should provide some clarity on that front. Several key companies will report and give a picture of demand in important markets: Caterpillar (NYSE:CAT), industrial distributor W.W. Grainger (NYSE:GWW), Visa (NYSE:V), Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL), AT&T (NYSE:T), United Parcel Service (NYSE:UPS), Intel (NASDAQ:INTC), and others. * 10 Tech Stocks That Are Still Worth Your Time (And Money) But the focus here will be on two of the largest companies - the kind that can move indices and markets - and perhaps the market's most controversial stock. In all three cases, the reaction to earnings reports will be as interesting as the numbers themselves. This is a big week, and the biggest names will have the biggest impact. Facebook (FB)Source: Shutterstock Earnings Report Date: Wednesday, July 24, after market closeThere's one positive for Facebook (NASDAQ:FB) ahead of its Q2 earnings report. Wednesday afternoon's release almost certainly won't be worse than the second quarter release last year.A year ago Facebook guided for significantly higher spending, which spooked investors. FB stock fell 20% the next day, the largest one-day loss of market value in history.That said, Facebook earnings could be a little dicey. FB stock still hasn't recovered all of last year's losses (which continued to a December low at which point the stock was down over 40%), but it has come close. Expectations clearly have been normalized. Worries about user defections amid the company's scandals have faded.Investors seem to believe that all is back to normal for Facebook. I'm inclined to agree. But if that's not the case - particularly if Facebook shows any weakness on the user front - there's not nearly as much downside priced in. A difficult quarter for Facebook could read across to other social media plays like Twitter (NYSE:TWTR) and Snap (NYSE:SNAP).Facebook has convinced a lot of investors so far that it's back on track. It will need to convince a few more to rally further next week. Tesla (TSLA)Source: Shutterstock Earnings Report Date: Wednesday, July 24, after market closeA big quarter looms for the market's most divisive stock, Tesla (NASDAQ:TSLA). Shares bounced 44% since TSLA stock hit a 30-month low in late May - but still sit 34% off highs reached after the company's supposed sale nearly a year ago.Tesla already has reported deliveries for the quarter, which were a record. But the question bears (myself included) are asking is: were those deliveries profitable? With mix shifting to the lower-priced Model 3 and away from the S and the X, Tesla profits could disappoint.That's just one reason why this is a big quarter for TSLA. After the hugely disappointing Q1, a strong quarter would re-engage the growth narrative here - and put TSLA stock on track to head back to the $300-range. It would establish that Tesla can be profitable with the 3 - which significantly improves the long-term case for the stock. * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip There's no shortage of Tesla skeptics out there: CEO Elon Musk and Tesla can quiet those doubters with a big quarter. Anything less, and margin and profit worries stay front and center for at least the rest of the year. Amazon (AMZN)Source: Shutterstock Earnings Report Date: Thursday, July 25, after market closeAt this point, Amazon's (NASDAQ:AMZN) earnings report matters simply because Amazon matters. Its revenue is deep enough and broad enough that it acts as a proxy for the broader U.S. economy. Its valuation - still 52x 2020 EPS estimates - is high enough that investor reaction to its earnings can signal potential reactions elsewhere. For instance, AMZN sold off sharply despite a decent Q3 report in late October, and tech stocks as a whole plunged for the next seven weeks.And so Amazon's earnings report on Thursday evening will be important for the market as a whole. The stock again has suffered from the "trillion dollar curse" in recent sessions. Valuation concerns remain.If investors are willing to bid up AMZN after the Q2 earnings report, there's room for other growth stocks to keep rising. If AMZN stock gets pounded after a strong quarter, however, investors need to stay on guard. We saw exactly that happen nine months ago - and it signaled on the largest sell-offs of the decade.As of this writing, Vince Martin has a bearish options position in Tesla. He has no positions in any other securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Tech Stocks That Are Still Worth Your Time (And Money) * 7 Marijuana Stocks With Critical Levels to Watch * 7 of the Best Smart-Beta ETFs to Target Right Now The post 3 Earnings Reports to Watch Next Week appeared first on InvestorPlace.
FaceApp, the app that shows users aged pictures of themselves using artificial intelligence, has more than 80 million users all over the world and is currently the number one free app in both Apple Inc’s (NASDAQ: AAPL) iOS App Store and Alphabet Inc’s (NASDAQ: GOOG) (NASDAQ: GOOGL) Google Play Store, according to Business Insider. Senator Chuck Schumer (D-NY) sent a letter to the FBI and FTC on Wednesday calling for the agencies to investigate any potential national security and privacy risks posed by the app’s usage.
Opportunity Zone investor Urban Catalyst this week snapped up another property on West San Carlos Street in San Jose and said it planned to bulldoze the property and build a 170-room business hotel in its place.
Cash App is free to download, and its core functions free to use. So how does this app, which has been downloaded more often than Venmo, make money?
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.
Google’s life sciences sister company Verily has created a baby monitoring system based around “smart nappies”, working with Procter & Gamble’s Pampers to use sensors, software and video to surveil when infants sleep, wee and poo. Parents will be able to raise “quantified babies”, attaching an activity sensor to the child’s nappy, which feeds data on when a nappy is wet and on a baby’s sleep time to an app that charts daily and weekly routines to show its development. P&G’s Lumi system, set to launch in the US this autumn, also includes a video monitor made by consumer electronics company Logitech, so that parents can watch their baby through the app anywhere in the world.
Amazon, Apple, Facebook, Google and Microsoft,— have a mixed record on security and protecting users' data, with the Cambridge Analytica scandal probably giving Facebook the lowest marks, while Apple's strong emphasis on securing users' data and whereabouts might earn it the top spot among the five. suggests they are all equally at risk from the Pegasus smartphone malware developed by Israel's NSO Group. Spy agencies and governments have used it for years to harvest data from targeted individuals’ smartphones, but sources say it has now evolved to capture data stored in the cloud, such as a full history of a target’s location data, archived messages or photos. NSO denies promoting cloud hacking tools.
The first of three new digital news sites The McClatchy Co. is starting with the support of Google will launch in September in the rustbelt city of Youngstown, Ohio.
A few years ago, a computer scientist called Chris Carson had a realisation. “We’re still pulling people over for traffic violations and writing them tickets,” says Carson. Carson’s start-up, Hayden AI, is now trying to create a network of eyes many times any CCTV network, supercharged by 5G mobile networks and artificial intelligence.
Yahoo Finance's Akiko Fujita sat down with Ren Zhengfei, the founder and CEO of Huawei, at the company's headquarters in China. Zhengfei addresses national security issues and the tech giant's future relationship with Google.
The Stadia Founder's Edition launches in November, but Google has said it "is not Netflix for games." In a Reddit AMA, product director Andrey Doronichev said Stadia is more like PlayStation Plus or Games with Gold. He also addressed what happens if Google Stadia shuts down.