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Amazon.com, Inc. (NASDAQ: AMZN ) and other rivals vied for a piece of the worldwide cloud infrastructure services market as spending rose 37% to top US$107 billion in 2019. What Happened Data released ...
During a talk with TheStreet, RingCentral's CFO discussed his firm's competitive strengths, R&D; priorities and international efforts.
(Bloomberg) -- While a wave of employee activism marked by walk-outs and protests has rippled through Silicon Valley the past few years, Oracle Corp. glided along unscathed.Now, a symbol of tech’s old guard is facing the stirrings of a worker uprising as well. People left their desks Thursday at Oracle offices around the world to protest Chairman Larry Ellison’s fundraiser a day earlier for President Donald Trump, according to people familiar with the matter. The protest, called No Ethics/No Work, involved about 300 employees walking out of their offices or stopping work at remote locations at noon local time and devoting the rest of the day to volunteering or civic engagement, said one of the people, who asked not to be identified for fear of retribution.Ellison drew employee ire that most didn’t know existed at Oracle. News of the fundraiser for Trump’s re-election campaign at Ellison’s home in Rancho Mirage, California, spurred a petition at Change.org from some of the company’s 136,000 employees. The workers argued the chairman’s public support for Trump violated Oracle’s diversity, inclusion and ethics policies, and harmed the image of the world’s second-largest software maker.The petition had more than 8,000 signatures as of Thursday afternoon, though it was open to the public and anyone could sign it. Organizers demanded that Oracle and Ellison give money to support a humanitarian cause such as climate change, denounce the Trump administration and commit to diversifying the company’s board.Employees at Alphabet Inc.’s Google, Amazon.com Inc., Microsoft Corp. and Salesforce.com Inc. started mobilizing more than two years ago over a variety of issues, including law enforcement and military contracts, the gender pay gap and the treatment of contract workers.Thursday’s activism at Oracle, a database stalwart founded in 1977, showed cultural differences from the younger companies like Google. Some Oracle workers who participated in the “log off” used vacation time for the protest, the people said. Many had asked the company’s human resources officials whether they would be targeted for participating and didn’t receive a response before the protest, so they took the precaution of participating on their own time, the people said.Others who supported the action, but were leery about the company’s potential response, chose to donate money to charitable groups that oppose Trump administration policies rather than leave work, the people said.Some employees received a warning Thursday when trying to access the protest organizers’ website from a work computer: “Access to this site may not be permitted by the Oracle Acceptable Use Policy. However, if user is authorized and has legitimate business reason to access the requested site, then click below to access. Your access will be logged.”Oracle, however, said the message was an error that was corrected.“The site was not intentionally blocked by Oracle,” said spokeswoman Deborah Hellinger. “It was temporarily blocked by a ‘false positive’ from our McAfee network security and anti-virus software. Once we were notified by employees of this issue, our security team conducted a review, determined that there was no actual security threat, and then whitelisted the site.”Organizers said the protest participation at Oracle’s headquarters in Redwood City, California, seemed more muted than in other locations, such as New York City and Austin, Texas, which have more young workers.The organizers hope Thursday’s action is the first effort to voice concerns about the company’s policies, and employees will continue to feel motivated to speak out, one of the people said.To contact the reporter on this story: Nico Grant in San Francisco at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Andrew Pollack, Mark MilianFor 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.
"The overlying question is the uncertainty over the coronavirus and whether it's going to spread further and impact global economic activity before things stabilize and ultimately get better," said Michael Sheldon, executive director and CIO at RDM Financial Group at Hightower in Westport, Connecticut. The Dow Jones Industrial Average fell 128.05 points, or 0.44%, to 29,219.98, the S&P 500 lost 12.92 points, or 0.38%, to 3,373.23 and the Nasdaq Composite dropped 66.22 points, or 0.67%, to 9,750.97. Recent policy easing by China, a largely better-than-expected fourth-quarter earnings season and hopes that the economic jolt from the coronavirus will be short-lived have pushed Wall Street's main indexes to new highs in recent weeks.
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(Bloomberg) -- U.S. equities slumped on concern that the coronavirus that originated in China will take a heavy toll on corporate earnings. The dollar jumped and gold climbed to a seven-year high as investors sought havens.Microsoft Corp., Apple Inc. and other big tech names led losses after Japan reported two deaths and South Korea confirmed its first fatality from the disease amid a report the illness was spreading in Beijing. ViacomCBS Inc. tumbled after sales missed estimates, while Morgan Stanley dropped after agreeing to buy E*Trade Financial Corp. for $13 billion. The S&P 500 Index pared the worst of its decline in the afternoon amid gains for automakers and real-estate companies.The yen extended its fall toward 112 per dollar amid disappointing economic news and early positioning before the fiscal year-end next month. Treasuries rallied.Sentiment turned negative Thursday, a day after equities reached record highs, as the infection that originated in China continues to expand beyond the mainland. Earnings misses are adding to the gloom, alongside fresh warnings on the pathogen’s impact from A.P. Moller-Maersk A/S, the world’s largest container shipping firm, and Air France-KLM. Goldman Sachs Group Inc.’s chief equity strategist said a near-term correction for the stock market is looking more probable.“It could be some larger players hedging against downside risk of the coronavirus spreading,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance. “That, on top of the Goldman call that a correction is more likely, has people on edge.”Elsewhere, subpar results from AXA SA and Telefonica SA weighed on European equity gauges. Asia stocks traded mixed. Oil gained in New York.Here are some key events coming up:Earnings season rolls on, with results from Deere & Co. set for Friday.Euro-area PMI and inflation data are also due Friday.Group of 20 finance ministers and central bank chiefs are due to meet Feb. 22-23 in Riyadh, Saudi Arabia, and are expected to discuss efforts to support growth amid the coronavirus threat.These are the main moves in markets:StocksThe S&P 500 Index fell 0.4% at the close of trading in New York.The Stoxx Europe 600 Index fell 0.9%.The MSCI Asia Pacific Index sank 0.7%.CurrenciesThe Bloomberg Dollar Spot Index jumped 0.5%.The euro slipped 0.2% to $1.0787.The Japanese yen weakened 0.6% to 112.08 per dollar.BondsThe yield on 10-year Treasuries sank five basis points to 1.52%.Germany’s 10-year yield declined three basis points to -0.45%.Britain’s 10-year yield dipped two basis points to 0.57%.CommoditiesWest Texas Intermediate crude gained 0.9% to $53.78 a barrel.Gold strengthened 0.5% to $1,619.80 an ounce.\--With assistance from Cormac Mullen, Adam Haigh, Todd White and Yakob Peterseil.To contact the reporters on this story: Vildana Hajric in New York at email@example.com;Claire Ballentine in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Christopher Anstey at email@example.com, Brendan WalshFor 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.
Selling in the Dow Jones picked up the pace around 11 a.m. ET. Intel lagged in the blue-chip index as chip stocks were weak across the board.
Many income-focused investors dwell on dividend yield and buy largely on that basis. Not so, say the two dividend-minded mutual-fund managers who run the outperforming Guinness Atkinson Dividend Builder Fund (GAINX) Matthew Page and Ian Mortimer use a much more nuanced approach to get high-achieving results.
U.S. stock indexes fell on Thursday, dragged down by technology heavyweights, as investors fretted over the rising number of coronavirus cases in China and other countries as well as the potential economic damage from the epidemic. Indexes dropped sharply in late morning trade, with some traders attributing the move to a Global Times report that a central Beijing hospital had reported 36 new cases, leading many to fear a potential explosion of infections in the capital.
DOW UPDATE Shares of Intel and Goldman Sachs are posting losses Thursday afternoon, dragging the Dow Jones Industrial Average into negative territory. Shares of Intel (INTC) and Goldman Sachs (GS) are contributing to the blue-chip gauge's intraday decline, as the Dow (DJIA) was most recently trading 167 points, or 0.
U.S. stock indexes fell about 1% on Thursday, dragged down by technology heavyweights, as investors fretted over a rise in the cases of coronavirus and its economic impact. Declining issues outnumbered advancers for a 1.23-to-1 ratio on the NYSE and for a 1.68-to-1 ratio on the Nasdaq.
DOW UPDATE Dragged down by declines for shares of Intel and Microsoft, the Dow Jones Industrial Average is trading down Thursday afternoon. Shares of Intel (INTC) and Microsoft (MSFT) are contributing to the index's intraday decline, as the Dow (DJIA) was most recently trading 276 points (0.
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Microsoft Chief Executive Satya Nadella said the technology giant will invest $1.1 billion in Mexico over the next five years, according to a promotional video released by the Mexican government on Thursday. Microsoft will build a new data center to deliver "client services to help every organization to really get an advantage and drive digital transformation," added Nadella, who met with Mexican President Andres Manuel Lopez Obrador last year. Lopez Obrador, speaking during his daily morning conference, said the investment showed Mexico was an attractive investment destination, touting a strong local currency, stable inflation, and prudent debt management by the government.
Microsoft (MSFT) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
Investors can bet on Microsoft (MSFT) and five other top-ranked technology stocks that have strong fundamentals for a winning portfolio in 2020.
The Zacks Analyst Blog Highlights: Microsoft, International Business Machines, Intel, Apple and Amazon.com
Goldman Sachs strategists believe corporate earnings will clear a low bar this year, but there are downside risks and margins will come increasingly under pressure.
A stable U.S. economy, an accommodative Fed and better-than expected corporate earnings and guidance is only going to add fuel to stock market momentum.