34.27 +0.04 (0.12%)
After hours: 7:56PM EDT
Commodity Channel Index
|Bid||34.27 x 900|
|Ask||34.24 x 900|
|Day's Range||31.57 - 34.25|
|52 Week Range||15.10 - 40.07|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Sep 02, 2020 - Sep 08, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||33.65|
Yahoo Finance catches up quickly with Slack co-founder Stewart Butterfield in the wake of the company announcing its sixth-ever acquisition.
The Dow Jones Industrial Average and S&P 500 traded lower for a few moments during the day, but by the end, they joined the Nasdaq Composite with gains of as much as 1%. Remote work has become a massive trend, and both Slack Technologies (NYSE: WORK) and Zoom Video Communications (NASDAQ: ZM) are doing their best to capture as much of that business as they can.
In short order, Slack made a rare acquisition, Microsoft Teams dressed up Teams service, and Zoom is getting into the hardware business.
Shares of Slack (NYSE: WORK) have jumped today, up by 8% as of 1 p.m. EDT, after the company announced that it had acquired Rimeto. The start-up offers an advanced business directory tool that will complement Slack's enterprise messaging platform.
Instant messaging platform Slack Technologies Inc. said Wednesday it has acquired Rimeto, a provider of business directory services for an undisclosed sum. Rimeto "offers an enterprise wide, searchable directory, automatically integrating information from across your company to deliver rich profiles of every employee, their skills, experience, and current projects," Slack said in a statement. Slack is not updating its guidance for the fiscal 2021 that it provided on June 4. The acquisition is not expected to have a material impact on its results. Shares were up 1% premarket and have gained 40% in the year to date, while the S&P 500 has fallen 2.7%.
Slack (NYSE: WORK) and Datadog (NASDAQ: DDOG) were both major software IPOs last year. Datadog, which arrived via a traditional IPO last September, helps companies analyze their full infrastructure -- including cloud services, servers, apps, services, and more -- on a single real-time dashboard. Both companies provide innovative services, but investors clearly favored Datadog over Slack.
(Bloomberg) -- After months of staying home, almost every office worker is probably sick of virtual meetings. Microsoft Corp. said it has a few new ways to make videoconferencing more interactive and easier to figure out who’s talking, or who is trying to.New features for the company’s Teams videoconferencing software announced Wednesday include one in which participants are arranged side-by-side in white chairs seated in auditorium-style tiers. The company also developed a touch-screen display as a companion to a computer that can be used with Teams to access calendars, messages and calls. The voice-controlled devices will be made by partners like Lenovo Group Ltd. and will be available later this year.Microsoft has seen usage of Teams explode as the coronavirus pandemic forced businesses to shutter offices and move to remote work. Teams vies with Slack Technologies Inc. and Zoom Video Communications Inc. for corporate customers, and Microsoft is trying to rapidly improve its video-conferencing product and add new features.The theater-style seating is called “together mode.” Microsoft said the idea is to better show participants and let them interact with each other — you can sort of virtually high-five your neighbor for example. You can more easily see when someone in the meeting wants to speak or is tuned out, which might be a problem for many frequent meeting-goers. The feature will be available to all users in August, the company said in a statement. New views will be added in the future.Microsoft said its internal testing found the new virtual mode has increased the amount of time participants look at others and choose to keep their cameras on, helps them better retain content and have a stronger memory of who attended big meetings. When brain activity is measured, this mode has been associated with more calm and focus. The company had been working on different conferencing prototypes and sped up “together mode” when the pandemic hit. “It’s really a design specific to this current situation and to try to make our circumstances a little less miserable,” said Jaron Lanier, a Microsoft researcher, who is considered a virtual reality pioneer. “For the moment it makes pandemic-era meetings less miserable, less isolating, less fatiguing, less weird, although a little weird in its own way.”Later this year, Teams will make it possible to note who said what in live transcripts. The app now has live captions and will soon add speaker attributions, which are helpful for meetings in which the user doesn’t know everyone. The company also plans to expand meeting capability to 1,000 participants, all of whom can talk, chat and appear on video. Microsoft will add a feature for presentations or classes, where attendees listen and watch but don’t participate, for as many as 20,000 people. 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.
Slack Technologies, Inc., (NYSE: WORK) today is excited to announce that we have acquired Rimeto. Rimeto has reimagined the business directory over the last four years, much in the same way we have reimagined business communication. Rimeto’s advanced profile and directory features will be integrated into Slack directly, but we will also continue to offer Rimeto as a standalone product and support their existing enterprise customers.
(Bloomberg) -- Palantir Technologies Inc. said it filed confidentially with U.S. regulators for a public stock listing, taking a major step toward a market debut that has been many years in the making.The secretive Silicon Valley company, which sells data analysis software used by governments and large companies worldwide, is seeking to go public by the fall, Bloomberg previously reported, though the timing could change.Palantir has been weighing a direct listing of its shares on an exchange against an initial public offering, people with knowledge of the deliberations have said.The company said in a statement Monday that it had filed with the U.S. Securities and Exchange Commission for a “public listing” of its stock, wording that has been used by other companies planning to pursue a direct listing. Such announcements typically specify a company is planning an IPO when that is the case. Palantir may still decide to pursue a traditional IPO to raise capital for the business.Palantir is in the process of raising $961 million, $550 million of which it has already secured, according to a filing earlier this month with the SEC. That includes a $500 million investment from Sompo Japan Nipponkoa Holdings Inc. and $50 million from Fujitsu Ltd.Those sums make listing the stock directly a more accessible path for Palantir, following in the footsteps of Spotify Technology SA and Slack Technologies Inc.A direct listing wouldn’t let Palantir raise money by issuing new shares, but it would allow it to bypass an investor roadshow and other formalities of an IPO, while letting current stockholders sell their shares at the opening bell rather than waiting until the end of a lock-up period.Billionaire Peter Thiel founded Palantir in 2003 with a group of business partners including Alex Karp, the chief executive officer. In 2015, Palantir reached a valuation of $20 billion, though in recent years stockholders have sold blocks of shares for much less. It isn’t clear what valuation the company would seek in going public.Breaking EvenThe company told investors this year that it expects to break even in 2020 on revenue of about $1 billion.In June, Palantir added three directors including the first woman to serve on its board, former Wall Street Journal reporter Alexandra Wolfe Schiff.Dozens of law enforcement and government agencies around the world use Palantir to compile and search for data on citizens with the intent of combating crime, hunting terrorists and in recent months, tracking the spread of Covid-19. The pandemic has boosted business as companies use its products to help determine how to reopen.However, Palantir is highly controversial for the way its tools have been used to compromise privacy and enable surveillance. Its use by police and immigration officials, in particular, has sparked numerous protests.Valuation ConcernThe Palo Alto, California-based company had long resisted a public offering to avoid getting valued as a consultancy, and to stay out of the public eye as it worked toward profitability, people familiar with the matter have said.Its dependence on engineers customizing software for each client and bloated cost structure also resulted in consistent annual losses. That heightened the possibility that it wouldn’t be valued as a software company despite its Silicon Valley credentials.That changed last year, with customers using a new more automated product that has put Palantir on the path toward profitability.Palantir’s funders include Founders Fund, the venture capital firm started by Thiel. Other investors include Morgan Stanley, BlackRock Inc. and Tiger Global Management.Thiel, a co-founder of Pay PayPal Holdings Inc., has helped launch or advance Silicon Valley firms including Facebook Inc., where he has been a board member since 2004. Through Founders Fund and other investments, his influence has been extended to an array of technology companies. Thiel has also served as an adviser to President Donald Trump, chastising other technology companies, in particular Alphabet Inc.’s Google, for their reluctance to work with the Defense Department.(Updates with statement details in fourth 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.
Shares of Slack Technologies (NYSE: WORK) climbed 38% in the first six months of the year, according to data from S&P Global Market Intelligence, driven in part by the trend toward working from home. Although the COVID-19 crisis has had a devastating impact on countless businesses, it's boosting demand for Slack's technology. Slack's messaging platform -- which enables quick and seamless communication among distributed workforces -- has never been more needed than during this time of social distancing.
(Bloomberg Opinion) -- It’s been six months since we got to enjoy a SoftBank Vision Fund exit.(1) Thankfully, Lemonade Inc. doesn’t disappoint.Founded in Israel and based in New York, its stock had a great first-day pop, despite pricing below its most recent private valuation. The company is a web-based provider of insurance to renters and landlords. After asking a few questions, such as address and living situation, Lemonade gives a quote for monthly coverage.Management believes that Lemonade has a technological edge in calculating risk that will ensure it collects more in premiums than it will pay out in claims. Yet a look at Lemonade’s mission statement tells what you really need to know about why this is a very SoftBank kind of company. Harness technology and social impact to be the world's most loved insurance company.Seriously. Lemonade doesn’t just want to be loved. “We are making insurance more delightful, more affordable, more precise, and more socially impactful,” it promises (emphasis added). The words “delight” or “delightful” appear 34 times in its prospectus.When you remember that SoftBank Group Corp.’s most famous, and infamous, investment to date — The We Co. — had a mission to “elevate the world’s consciousness,” it’s understandable why boss Masayoshi Son just couldn’t resist. Son’s outfit loves Lemonade so much that it owns 21.8%, diluted from 27.3% after the $319 million offering in New York.Like a couple of other SoftBank unicorns that have since gone public — Uber Technologies Inc. and Slack Technologies Inc. — Lemonade has been losing money. CEO Daniel Schreiber told Bloomberg Television’s Emily Chang that the company is on a path to profitability, with losses per dollar of insurance premiums sold shrinking. More recently, business has been “little impacted by the epidemic, much to our surprise,” he said.In truth, earnings don’t actually matter to investors as long as the shares rise and SoftBank gets to book paper profits.This debut comes just as the SoftBank and its Vision Fund recover from a disastrous March quarter, followed by a rebound in the June period. According to the prospectus, Lemonade was valued at $42.21 per share in its last funding round, which closed in September. An initial offer document, dated June 30, had Lemonade priced between $26 and $28 apiece, which means SoftBank would have taken a haircut of around 33%, or about $170 million, in the three months to the end of June.The massive 139% pop Thursday on the New York Stock Exchange reverses SoftBank’s loss immediately, but can only be realized in the current quarter, which still has a long way to go. Buckle up for another roller-coaster ride.What’s even more SoftBank-like about this investment is the ownership structure. According to the prospectus, SoftBank and other venture capital firms, along with officers and directors, beneficially own a mathematically impossible 135% of the stock.On paper, Schreiber and co-founder Shai Wininger hold 28.3% and 29% respectively, while Mwashuma Nyatta — a managing partner at SoftBank Group International — has 21.8%. Except, not really. Those three don’t own all of that stock, but they’re the only members of a “joint investment committee having sole voting and dispositive control” over the shares held by SoftBank. So, while SoftBank owns a fifth of the company, it’s handing that voting power back to the founders, who then claim “beneficial ownership.” Having seen the need to push Travis Kalanick out of Uber and Adam Neumann from WeWork, you’d have thought SoftBank may have learned its lesson about giving founders too much control. To be clear, there’s no suggestion that Schreiber or Wininger deserve to be shown the door, but when you own 22% of the stock, you’d think that a certain amount of voting rights may come with it.But this is SoftBank, and we’ve all learned to expect its investments and exits to be somewhat “delightful.”(1) The previous IPO, OneConnect Financial Technology Co., has gone on to be a blockbuster.This 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/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Microsoft (NASDAQ:MSFT) stock is up almost 30% this year and nearly twice as much off its March lows, but even with a $1.55 trillion market capitalization, Microsoft can still deliver for investors.Source: NYCStock / Shutterstock.com The software giant is jostling with rivals Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN) to be the first company to enter the $2 trillion club. While that illustrious distinction is far away for all three, Microsoft still offers ample appreciation potential.Yes, investors buying Microsoft today will be paying a forward earnings multiple of 31.25 and a sales multiple of 11. Those are growth stock multiples because, well, Microsoft is a growth stock. It's the largest component in the S&P 500 Growth Index at a weight of 10%.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Utilities Stocks to Buy With Reassuring DividendsThat status shouldn't be off-putting to investors. They should embrace it because over the past decade, growth stocks handsomely outperformed their value rivals.Researchers at Columbia University's business school suggest that many investors are seduced by low price-book ratios, thinking they're getting a good deal, when in reality growth stocks can be less risky than value names. Near-Term Microsoft MomentumA large part of the thesis for Microsoft revolves around the company's burgeoning Azure cloud business, the second-largest cloud computing outfit beyond Amazon's Amazon Web Services (AWS). Within Azure is Teams, Microsoft's competitor to Slack (NYSE:WORK) and Zoom Video (NASDAQ:ZM).That means Microsoft is a credible novel coronavirus idea and/or a play on the seismic shifts happening in the way people work. The economy started reopening in May, but even now many parts of the U.S. are awash in new cases of Covid-19. Many folks haven't returned to their offices and some that have could easily be sent back to remote status in the name of safety.Even if a vaccine for the vaccine emerges tomorrow, how and where folks work is dramatically altered and that's to the benefit of companies with cloud computing footprints. Remember, Microsoft CEO Satya Nadella recently said, "We've seen two years' worth of digital transformation in two months."Adding to the Azure case is that while cloud computing itself is classified as a disruptive technology, it also serves as a foundation for other technologies that are shifting the corporate and consumer landscapes.Data confirms that Azure is making significant inroads against rival AWS. Earlier this year, a Goldman Sachs survey of 100 information technology executives at large companies revealed 56% use Azure while 48 percent deploy AWS. The Bottom Line for MSFT StockThere are more than just other factors that bode well for Microsoft over the back half of 2020, but I'm going to mention a pair here.First, through Azure Office 365 and Dynamics 365, among other offers, Microsoft transitioned to a subscription model perhaps more effectively than any large IT company in recent memory. The benefit there is two-fold: accelerating and predictable revenue.Second, Microsoft is a legitimate gaming company and the latest version of the Xbox is coming just in time for the holiday shopping season. It's widely known that this is the year of the hardware upgrade cycle, but Microsoft could potentially surprise gamers and investors with unexpected offerings. Plus gaming, like work from home, is one of the few non-healthcare investment strategies benefiting in earnest from the pandemic.Wrapping it all up, Microsoft stock is up quite a bit, but it has the management team and the catalysts to deliver more upside for shareholders.Todd Shriber has been an InvestorPlace contributor since 2014. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post Surging Microsoft Still Checks Plenty of Positive Boxes appeared first on InvestorPlace.
(Bloomberg) -- America’s priciest apartment-rental market suddenly has more bargains.Rents for a San Francisco one-bedroom apartment have dropped about 12% from this time last year, a record monthly decline for the city, according to a report from listing site Zumper. Silicon Valley hubs such as Mountain View and Palo Alto also saw rents plunge -- a sign residents of the tech-heavy region are taking advantage of remote work arrangements to flee to cheaper areas.The San Francisco Bay Area is headquarters for some of the first companies to switch to working from home, while giants such as Facebook Inc., Twitter Inc. and Slack Technologies Inc. are embracing it for the long run. With nothing tethering them to the office, many workers are relocating to Bay Area suburbs or leaving the state altogether.With a median one-bedroom price of $3,280, San Francisco is still the most expensive rental market in the country, followed by New York, Boston and nearby San Jose and Oakland, which are tied for fourth, according to Zumper. Denser areas have seen rents decline as people seek more spacious digs to ride out the pandemic, while cheaper outlying cities have fared better, the company said.Oakland, a less-expensive alternative to San Francisco, saw median one-bedroom rents climb 4.5% year over year, according to Zumper. Sacramento, even further afield, had a 7.9% increase.A recent survey from Blind, an anonymous professional network, found that 28% of people in the Bay Area who have the option to work from home plan to relocate out of the metro area and 27% would leave the state.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.
With that in mind, we asked five Motley Fool contributors to share their best picks for investors in this unusual July. Here's why they think these stocks could put fireworks in your portfolio this month.
Slack takes a bold step towards replacing e-mails for external communications -- but will it widen its moat against its biggest competitor?
A proposed change to direct listings could attract more public debuts and woo companies away from traditional IPOs — if the SEC approves the move.
When the novel coronavirus struck, we all knew companies in the digital space would see a sharp increase in usage. That's what happened with Salesforce (NYSE:CRM), Zoom (NASDAQ:ZM), and Slack (NYSE:WORK), all of whom offer services that help companies manage their workflows better in a remote environment. However, DocuSign (NASDAQ:DOCU) stock is also making huge strides during this time.Source: Sundry Photography / Shutterstock.com Based in San Francisco, the company allows organizations to manage electronic agreements through its cloud-based technology. You can use the platform through subscription or free of charge mobile device apps.I am not surprised DocuSign services are seeing increased usage in the current climate. As the crisis prolongs, more and more companies are looking to shift to the cloud and execute their daily work digitally. In such an environment, DocuSign is bound to thrive, and the company's recent earnings are a testament to this fact.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Consumer Stocks to Buy to Ride the Post-Covid-19 WaveIn addition to these developments, the company is looking to broaden its horizons and create an ecosystem facilitating complete contract lifecycle management. The new offerings will significantly expand its moat and ensure the firm sustains its momentum moving forward. Corovarius Lifts Q1 EarningsIt would be incorrect to say DocuSign would not have delivered a stellar first quarter if not for Covid-19. However, there is no denying the pandemic helped in driving subscription numbers northwards. EPS came in at 12 cents per share, beating analyst estimates by 2 cents. Q1 saw total customers growing to 661,000 from 508,000 in the year-ago quarter. Revenues smashed estimates by $16.18 million, reaching $297.02 million. The company issued guidance for revenues to reach between $316 million and $320 million in the forthcoming quarter.CEO Dan Springer spoke on how long-term trends favor DocuSign."Companies are realizing, there's a better way to do business getting rid of the paper-based processes, which are hard on themselves, hard on their customers and hard on the environment," he said. Maintaining Momentum for DOCU StockDocuSign's management took practical steps to create an ecosystem built around contract lifecycle management.In pursuing that goal, the company acquired SpringCM, a contract lifecycle management firm.The company also paid $188 million to purchase Seal Software, an AI-powered technology solution focusing on enterprise contract analytics. The platform helps identify contract terms that are not beneficial or areas of improvement.I believe the addition of these companies will allow DocuSign to reduce the churn rate. Its eSignature service remains the bread-and-butter product. But moving into these other areas is necessary to diversify operations. Is DOCU Stock Overvalued?In the last six months, DOCU stock has risen by almost 120%. Many investors are justifiably worried if the company is running out of steam. You can see that sentiment in analyst estimates as well, with a 12-month price target of $153.00 per share, which compares unfavorably to the current price of about $165 a pop.However, what I think that analysts are missing here is that the stock comes with a lot of intrinsic value since it focuses on a niche industry that will grow at a compound annual growth rate of 24.6% between 2020 and 2030.Given the forward-looking nature of the business, I don't expect dirt-cheap valuations, but DOCU stock is trading at reasonably high multiples at the moment.That said, the recent M&A activity shows management believes in the power of continuously diversifying their product suite. That's certainly the right way to go. And, I think the markets will reward the company for this approach. Takeaway on DOCU StockDOCU stock took a hit back in March, as Covid-19 walloped markets the world over. However, shares of the software-as-a-service company have made a full recovery since then.Even though the effects of Covid-19 are weaning, social-distancing rules will likely become a norm rather than an exception moving forward. In such an environment, remote approval of documents will become commonplace in several companies.I rate DOCU stock as a buy, despite shares trading at high multiples.Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. He has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio. He does not directly own the securities mentioned above. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post DocuSign Still Has Room Left to Grow appeared first on InvestorPlace.
Slack Technologies (WORK) has rolled out Slack Connect, a virtual communication platform, which seeks to replace e-mail as a delivery system for businesses to connect securely and work in shared channels.Slack Connect lets up to 20 businesses connect with each other. The virtual communication platform allows customers to work securely with multiple partners and vendors in Slack, to build stronger relationships and faster results, the company said.With Slack Connect, admins can maintain control over their organization’s data and monitor external access. And unlike email, which leaves users open to the risk of spam and phishing, when they work in Slack channels, they receive messages and files only from verified members.“The introduction of Slack Connect marks a major leap forward in our mission to transform business communication and make people’s working lives simpler, more pleasant and more productive,” said Slack CEO Stewart Butterfield. “Our largest customers, like TD Ameritrade and Iress, put enormous effort into security and compliance and external communication often moves out of band. It goes to text messages and WhatsApp - and the organization has no visibility or ability to retain important records.”The launch comes after Slack earlier this month announced a new multi-year strategic agreement with Amazon (AMZN) to deliver solutions for enterprise workforce collaboration.As a result, development teams can communicate and manage their AWS resources from inside Slack. Slack will migrate its Slack Calls capability for voice and video calls to Amazon Chime, AWS’s communications service, and use AWS’s global infrastructure.Shares in Slack have surged 42% year-to-date, as the company added 12,000 net new paid customers in the first quarter and revenue grew 50% revenue year-over-year. The stock dropped 6% to $31.97 as of Wednesday’s close.Five-star analyst Ryan MacWilliams at Stephens raised Slack’s price target to $37 from $32 and maintained a Buy rating, saying that the company’s value proposition has been further accentuated by the work-from-home environment.“Slack is best positioned to win over the hearts and minds of enterprise customers with its sole focus on collaboration,” MacWilliams wrote in a note to investors. “If successful, we believe the company would receive excess rewards as the only player at scale advocating for this collaboration transformation (especially as organizations and employees standardize on the platform).”Overall, the stock scores a cautiously optimistic Moderate Buy consensus from the Street with 11 Buy ratings versus 7 Hold ratings and 2 Sell ratings. Meanwhile the average analyst price target stands at $34.18 (6.9% upside potential). (See WORK stock analysis on TipRanks).Related News: Check Point Teams Up With Coursera For Cybersecurity Education Program Apple Reveals Custom-Made Chips, Ending Intel Relationship Microsoft’s Xbox Closes Mixer Live Streaming, Partners With Facebook Gaming More recent articles from Smarter Analyst: * Google Snaps Up Canadian Smart Glasses Startup North * AMC Delays Theatre Openings; Top Analyst Cuts Price Target * Inovio Presents ‘Positive’ Early Data For Covid-19 Vaccine Candidate; Shares Plunge 12% * Wells Fargo Plans To Cut Its Dividend In Q3; Top Analyst Lowers Price Target
Amazon.com Inc. said Wednesday it is launching a new service that allows customers to build their own apps without coding experience. Amazon Web Services said it was launching Honeycode in Oregon on Wednesday with "more regions coming soon." The service allows users to build mobile and web applications like those that manage customer relationships or track inventory for up to 20 users for free, with rates kicking in for users or storage requirements that exceed that, the company said. Amazon said that Slack Technologies Inc. and privately held image-sharing company SmugMug are already Honeycode customers.
The San Francisco-based company is locked in a fierce duel with Microsoft Corp. and its Teams product for enterprise customers. Slack shares are down 5% in midday trading.
With Slack Connect, companies can use the communications software to create groups of up to 20 organizations in a single channel.
Slack Technologies Inc. on Wednesday announced a set of technologies, called Slack Connect, that enhances its real-time communications collaboration platform across multiple businesses. A company spokesperson said the ultra-secure system, which has been in the works for four years, represents for Slack, "The future of business connection." The San Francisco-based company is locked in a fierce duel with Microsoft Corp. and its Teams product for enterprise customers. Slack shares are down 4% in late-morning trading.
Many of Cathie Wood’s biggest bets on technology just took a big leap forward, helped along by the coronavirus crisis. She spoke with MarketWatch about why the market chop of the spring has made her job so rewarding.