|Bid||0.00 x 800|
|Ask||0.00 x 1800|
|Day's Range||133.60 - 135.73|
|52 Week Range||93.96 - 138.40|
|Beta (3Y Monthly)||1.05|
|PE Ratio (TTM)||29.76|
|Earnings Date||Jul 17, 2019 - Jul 22, 2019|
|Forward Dividend & Yield||1.84 (1.38%)|
|1y Target Est||143.58|
It’s not every day the three biggest competitors in a space join forces todenounced political action
(Bloomberg) -- Huawei Technologies Co. stole trade secrets from a company co-founded by a former employee, a U.S. jury said Wednesday as it rejected claims that China’s largest technology company was the real victim in the dispute.The jury in Sherman, Texas, said Huawei didn’t benefit from the theft and awarded no damages to the startup, CNEX Labs Inc. Still, the verdict following a three-week trial could provide ammunition to critics who say Huawei doesn’t play by the rules in the global technology playground.Huawei said it was evaluating the verdict. “We are disappointed that the jury didn’t support Huawei’s claims based on the evidence,” Jason Ding, director of the company’s intellectual property rights department, told reporters at its Shenzhen base on Thursday.Huawei and CNEX had each accused the other of stealing inside information regarding data storage. The eight-person jury heard testimony involving dueling tales of intrigue, disloyalty and corporate espionage. The trial featured an inside look at the Chinese maker of smartphones and networking gear, as well as the sometimes cutthroat battle over highly skilled employees with the talent to develop the next generation of technology.Overshadowing the case is Huawei’s position firmly in the middle of the trade conflict between the U.S. and China, with President Donald Trump seeking to sharply curtail the company’s ability to do business. In the U.S., Huawei is fighting a criminal indictment that accuses it of stealing critical phone-testing technology from T-Mobile US Inc.The trial in Sherman, about an hour north of Dallas, marks a rare instance in which Huawei has accused a former employee of stealing secrets.The dispute concerns solid-state drives, which are made up of chips called Nand flash memory that store information on semiconductors. They access data much more quickly than traditional magnetic disk-based technology.For CNEX, its reputation and relationships with technology companies like Microsoft Corp. were at stake. The company is working to develop a method to make the drives faster and cheaper, a crucial need when it comes to storing and retrieving the massive amounts of data kept on cloud storage.“Because we are a new business without revenue or profits, the jury was not able to award CNEX any money damages,” Matthew Gloss, general counsel for CNEX, said in a statement following the verdict.“This case was never about the money,” he said after the hearing. “The case was about saving the company.”Huawei lawyers at the trial had no comment and company officials didn’t immediately respond to queries seeking comment. The jury said that Huawei, but not its U.S. research unit Futurewei Technologies Inc., had stolen CNEX trade secrets. The jury found that CNEX had not proved that either of the companies were “unjustly enriched.” Gloss said it was because CNEX was able to get its product sample back quickly.Founded StartupCNEX was founded in 2013 by two former Marvell Technology Group Ltd. executives and researcher Yiren “Ronnie” Huang, whose previous job at Futurewei in California was at the heart of the trial.Huawei claimed that Huang had wanted to set up his own business but couldn’t get backing so joined Futurewei in 2011. While there, according to Huawei, Huang used a team to develop new technology for the storage devices and then left the company to help start CNEX three days later. There, he and other CNEX founders claimed Huawei’s ideas as their own and poached other Huawei employees, Huawei claimed.The jury found there were no Huawei trade secrets in the case. CNEX had argued that anything Huawei claimed was secret was actually public information.Huang, who is on leave from CNEX, said he came up with the ideas long before joining Futurewei, and left when he realized the company didn’t have much to offer.The jury found that Huang was in violation of his employment agreement’s patent application disclosure provision, but that Futurewei wasn’t harmed by that failure. Huawei had said Huang began seeking patents in the months after joining CNEX, and told the jury it was based on work he had done at Futurewei.CEO TestifiedCNEX Chief Executive Officer Alan Armstrong said he asked Huang to help found CNEX after being introduced by a mutual friend because of Huang’s work with other companies. Any former Huawei employees who joined CNEX did so because they were “very unhappy where they were working and wanted to come to a startup,” Armstrong told the jury.CNEX contends that Huawei posed as a potential customer to get secret details of its plans and, when that didn’t work, persuaded Xiamen University to work as a research partner with CNEX so it could surreptitiously turn over plans.District Court Judge Amos Mazzant, who presided over the trial, also is overseeing a Huawei lawsuit against the U.S. government. The company is asking Mazzant to rule that a ban on federal agencies and contractors buying its gear is unconstitutional.The case is Huawei Technologies Co. v. Huang, 17-893, U.S. District Court for the Eastern District of Texas (Sherman)(Updates with Huawei’s reaction to verdict in the third paragraph.)\--With assistance from Gao Yuan.To contact the reporters on this story: Susan Decker in Washington at firstname.lastname@example.org;Dennis Robertson in Sherman, Texas at email@example.comTo contact the editors responsible for this story: Jon Morgan at firstname.lastname@example.org, John Harney, Robert JamesonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
ANSYS (ANSS) inks deal with AVSimulation to accelerate the development of autonomous vehicles with the aid of latter's expertise in simulation technology.
Microsoft (MSFT) brings Personal Vault security feature to OneDrive and announces monthly subscription plans to provide users with extra storage facility.
Wedbush Securities technology analyst Daniel Ives said though the DOD's JEDI contract has been alleged to unfairly favor Amazon Web Services, Microsoft’s Azure Government Cloud has closed the gap.
Salesforce.com is spending $15.7 billion to buy Tableau, the world’s leading Business Intelligence vendor. While this acquisition may look like a big move for Salesforce, I believe it exposes the company’s desperate effort to keep up with Microsoft. On the financial side, the price for Tableau (DATA) represents almost a 50% premium over its market value.
Investing.com - Stocks struggled for much of Wednesday, fighting off the effects of higher interest rates and rising oil prices.
Amazon Web Services and Microsoft are battling for the Defense Department’s cloud-computing contract. The winner will benefit for years to come.
M&A deals are usually ignored, or sometimes even openly mocked, but it can lead to an earnings and revenue renaissance. Did you spot these?
(Bloomberg) -- Oxford Properties Group is planning a C$3.5 billion ($2.7 billion) development in downtown Toronto that would be one of Canada’s biggest real estate projects.The property arm of pension fund OMERS aims to build a 4.3 million-square-foot, mixed-use complex on a 4-acre site that’s just north of Toronto’s Rogers Centre and CN Tower. The development, called Union Park, is the largest ever for Oxford outside of Manhattan’s Hudson Yards, the $25 billion project it’s co-developing with Related Cos.Plans call for two office towers, of 58 and 48 stories, about 800 rental apartments across two buildings and 200,000 square feet for retail. Three acres will be devoted to public space, including an urban park over the Union Station rail corridor, which spans Blue Jays Way to the John Street Bridge.“It’s the culmination of our experience in a number of different cities, and we’ve looked at what we’ve done, whether in Europe or in the U.S. with Hudson Yards,” Eric Plesman, Oxford’s executive vice president of North America, said in an interview. “This is a site that’s exceptionally significant, and it’s rare that you can find this size of site with proximity to the core.”The project is a big bet on increasing demand for offices from the city’s booming technology and financial-services industries, and the shift to downtown from the suburbs. The Union Park site lies between the space-crunched financial core, and The Well, a mixed-use development that will be home to Shopify Inc. and hundreds of new residents.Toronto is in the midst of a construction boom. In addition to Oxford’s project and The Well, which will have three million square-feet of retail, office and residential space, Ivanhoe Cambridge Inc. and Hines are developing CIBC SQUARE. That will comprise two commercial towers spanning 3 million square feet that will house offices for Canadian Imperial Bank of Commerce as well as Microsoft Inc. Cadillac Fairview Corp. and Investment Management Corp. of Ontario are also developing 1.2 million-plus square feet of office and retail space.In a bid to attract global tech giants or other major tenants, Oxford has plans for 100,000-square-foot spaces that would be split between the office towers and connected by a common atrium, said Mark Cote, head of development. One company would be able to occupy the whole space.“We want to create a commercial campus opportunity for large office users,” Cote said.About 18,000 people will work at Union Park, and the development itself could create 22,000 construction jobs, Oxford said. The firm’s application will include an expansion of the PATH network, an underground connection to Toronto’s financial core.Larger RentalsAs for the housing portion, Oxford will focus on larger rentals units ranging from one- to three-bedrooms, given the short supply downtown for families.“It’s an under-serviced part of the market,” Cote said. “300-square-foot units, I mean, it’s hard to raise a family in those apartments.”Oxford aims to start construction in 2023, pending the needed municipal approvals, said Carlo Timpano, vice president of development.Oxford is renewing its portfolio, selling assets such as an office tower in downtown Montreal and a stake in iconic hotels in Western Canada while developing 14 projects in the country.“We intend on continuing to build within Canada: we’ve seen our capital grow almost 35% over the last five years by C$7.5 billion in Canada and a lot of that growth has been in our development pipeline,” Plesman said.(Updates with additional construction projects in sixth paragraph.)To contact the reporter on this story: Natalie Wong in Toronto at email@example.comTo contact the editors responsible for this story: Debarati Roy at firstname.lastname@example.org, Christine Maurus, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Markets closed in the red on Tuesday after Fed Chief Jerome Powell stated that the central bank was still not clear about reducing the benchmark interest rate.
Back in early 2016, there were talks of Microsoft buying Slack (WORK) out for $8 billion. However, the deal was shelved in favor of building Skype for business. Fast forward three years and Slack was valued $22 billion on its public debut.
Symantec's (SYMC) Cloud Workload Protection new service with Amazon GuardDuty will enable AWS customers to automate and streamline key components of cloud security.
Always keep one eye on the so-called smart money. Yes, hedge funds don't always live up to the hype, and they're renowned for charging an arm and a leg. But considering they represent more than $3 trillion in assets under management and have built a reputation of having stock-market savvy, it's good to know what they're putting their capital toward - and they're often putting it toward blue-chip stocks.The folks at WalletHub keep regular tabs on stocks that hedge fund managers are buying, selling and holding every quarter. Combing through regulatory filings, WalletHub looks at the positions of more than 400 hedge funds, tallies their positions in individual stocks, then ranks those stocks by their total holdings value.These stocks are massive in market value, ranging from the hundreds of billions of dollars to more than $1 trillion. Indeed, their very size helps attract more institutional interest. Unsurprisingly, then, most of these stock picks are household names - a number happen to belong to Warren Buffett's Berkshire Hathaway portfolio.Here are hedge funds' 25 favorite blue-chip stocks to buy now. All these stocks likely appeal to the "smart money" because of their size and strong track records. But we'll delve into a few specifics that make each company special. SEE ALSO: The 19 Best Stocks to Buy for the Rest of 2019
Shares of Slack Technologies Inc. are up 2.4% in premarket trading Wednesday after Baird analyst William Power initiated coverage of the stock with an outperform rating and $44 target. "With penetration early, we are positive on the strong growth and competitive position," he wrote. "Valuation is rich relative to the SaaS group, though we believe the disruptive competitive position and long-term margin and free-cash-flow opportunity stand out relative to the group." Power is upbeat about the steps Slack has taken to integrate other popular applications into its platform. These include offerings from Salesforce.com Inc. , Microsoft Corp. , and Alphabet Inc.'s Google . Slack's premarket gains come as S&P 500 futures are up 0.4%.
Has the time come to bet on a revival of value stocks? Value stocks have seldom suffered such a brutal losing streak as seen over the past five years. Value stocks have seldom been so cheap relative to all stocks or to expensive stocks, notes Richard Moroney, editor of Dow Theory Forecasts.
(Bloomberg) -- The Pentagon is preparing for the rollout of its controversial cloud services program even though the requirements of the $10 billion contract are still being challenged in court by Oracle Corp.Dana Deasy, the Pentagon’s chief information officer, asked department leaders for recommendations about how they plan to use the contract and told them not to initiate any other cloud agreements without his consent, according to a copy of the memo obtained by Bloomberg News.Deasy sent the memo dated May 20 to a wide range of Pentagon officials outlining guidance for the “fourth estate” -- the Defense Department agencies that provide human resources, services contracting and other support services to the military -- to identify technology programs that could be transitioned to the Joint Enterprise Defense Infrastructure cloud, or JEDI, and to a preexisting cloud program called milCloud 2.0.The memo sheds insight on how the Defense Department is moving ahead with implementation of the JEDI cloud program even while a legal dispute raises questions about the contract’s terms. Asked whether the Pentagon’s choice for the JEDI award is contingent on a decision in the Oracle lawsuit, Deasy told a group of reporters at a breakfast on Tuesday that “they are two disconnected events.”He added that the JEDI award will likely be decided “sometime toward the end of August.”Deasy’s memo also said that departments that have already gained approval to migrate data to other computing storage centers may continue, but must “evaluate JEDI as the General Purpose cloud solution at the end of the period of performance.” The memo also contained a list of more than 50 expected data center closings. The Defense Department has said JEDI should become the department’s general-purpose cloud to store the “majority of systems and applications.Defense Department spokeswoman Elissa Smith confirmed the authenticity of the memo and added that the Air Force, Army, and Navy have also “begun identifying and prioritizing programs and migrations to JEDI.”Deasy said Tuesday that over the last six months his team has contacted U.S. regional commanders, such as the U.S. Central Command, for a series of “cloud-awareness sessions.”“There is a significant amount of pent-up demand just waiting to use the capability once it comes online,” Deasy said. The U.S. Transportation Command that’s in charge of maritime, aviation and land transport has developed a set of tasks they want to migrate to the Jedi Cloud “as soon as that contract is awarded.”Contested ContractThe contract has been contested by Oracle, which the Pentagon eliminated from the bidding in April along with International Business Machines Corp. for not meeting minimum criteria. That move left Amazon.com Inc. and Microsoft Corp. as the last remaining competitors.Oracle filed a lawsuit in December in the U.S. Court of Federal Claims alleging that the Pentagon crafted overly narrow contract requirements and failed to investigate relationships between former Defense Department employees and Amazon. In May, Oracle filed an amended complaint alleging that Amazon offered two former Pentagon employees jobs while they were working on the contract.The Government Accountability Office and an internal Pentagon investigation determined the conflict of interest allegations didn’t compromise the integrity of the procurement. Oral arguments in the court case are expected to occur in July.(Adds that a lawsuit raises questions about the contract's terms in fourth paragrah. The full name of JEDI was corrected in a previous version of the story.)To contact the reporters on this story: Naomi Nix in Washington at email@example.com;Tony Capaccio in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Sara Forden at email@example.com, Larry LiebertFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Nasdaq today led the market lower, as technology stocks took heavy hits after Fed officials dampened hopes for aggressive interest-rate cuts.
Microsoft's fast-growing cloud computing businesses have lifted the software giant to a market value over $1 trillion. But one analyst insists Microsoft stock is "materially overvalued."