• WhatsApp hit by brief outage, leaving users unable to send or receive messages
    TechCrunch

    WhatsApp hit by brief outage, leaving users unable to send or receive messages

    WhatsApp was briefly down Tuesday, with users unable to send or receive messages on the Facebook-owned end-to-end encrypted messaging app. Affected users may have seen that WhatsApp was "connecting" to the service when trying to send a message. When reached, a Facebook spokesperson confirmed the outage but didn't divulge details.

  • Amazon is piloting worker healthcare clinics near its warehouses
    TechCrunch

    Amazon is piloting worker healthcare clinics near its warehouses

    Amazon this morning announced a partnership with Crossover Health to build worker healthcare facilities near its fulfillment centers. The plan is still in a pilot phase, as the e-commerce giant employs the services of Crossover, which builds clinics for corporate clients. The startup has built such facilities for Apple and Facebook, and was even rumored to be a potential target for an Apple acquisition a few years back.

  • Reuters

    US STOCKS-Wall Street surges, led by energy and materials

    Wall Street surged on Tuesday, with the Dow Jones Industrial Average ending more than 2% higher as investors bought energy and materials stocks and looked beyond a recent rise in coronavirus cases. In extended trade, Moderna Inc surged 18% after the biotech company's experimental vaccine for COVID-19 showed it was safe and provoked immune responses in an ongoing early-stage study. Extended trade in S&P 500 emini futures suggested investors expect Wall Street to rise on Wednesday, with the futures climbing 0.8%.

  • Delivery Hero Says It’s Open to a Deal With Rappi or Glovo
    Bloomberg

    Delivery Hero Says It’s Open to a Deal With Rappi or Glovo

    (Bloomberg) -- Delivery Hero SE said it’s holding regular discussions with other food delivery companies about potential deals, reflecting an industrywide rush toward consolidation.Chief Executive Officer Niklas Ostberg said he’s in constant dialog with peers, including Rappi and Glovo. “We are no longer in a position where we feel we have to do M&A, and we’d rather invest in our business,” Ostberg said in a video call Tuesday. “But of course, if good opportunities come up, then we won’t hesitate to take them.”The Berlin-based company is a shareholder in Rappi and Glovo. In 2018, Delivery Hero invested $105 million in Rappi and 51 million euros ($58 million) in Glovo. The talks with Bogota-based Rappi have centered around a potential acquisition of the business, said two people familiar with the situation.Delivery Hero called attention to its appetite for deals a week ago when it outlined plans to sell as much as 1.5 billion euros of convertible bonds. The money is intended “for general corporate purposes and to take advantage of attractive investment opportunities that may arise,” the company said.Representatives for Rappi and Barcelona-based Glovo didn’t immediately respond to requests for comment outside of regular business hours in Europe. Rappi was valued at $2.5 billion in 2019 and soon after received a $1 billion investment from SoftBank, making it one of Latin America’s most valuable startups.Food delivery is a crowded industry, with little room for profits. There have been two megadeals since last month intended to position the companies to someday generate profits. Europe’s Just Eat Takeaway.com NV said it’s buying Grubhub Inc. for $7.3 billion, and Uber Technologies Inc. is buying Postmates Inc. for $2.65 billion.Delivery Hero has been on a spending spree of its own. It made its largest acquisition in December when it took control of South Korea’s biggest food delivery app, Woowa Brothers Corp., in a deal valued at $4 billion. When the transaction is expected to close later this year, Delivery Hero could be valued at close to 30 billion euros, Ostberg said.Ostberg said Delivery Hero has enough cash to compete with the likes of Uber Eats and Southeast Asia’s largest delivery platform, Grab. “We like to be well-capitalized for whatever may happen,” he said.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.

  • Aimco Announces Dates for Second Quarter 2020 Earnings Release and Conference Call
    Business Wire

    Aimco Announces Dates for Second Quarter 2020 Earnings Release and Conference Call

    Apartment Investment and Management Company ("Aimco") (NYSE: AIV) will release Second Quarter 2020 earnings on Monday, August 3, 2020 after the market closes. The Second Quarter 2020 earnings conference call will be conducted on Tuesday, August 4, 2020 at 12:00 p.m. Eastern time.

  • Which FAANG Stock has the Best Earnings Chart?
    Zacks

    Which FAANG Stock has the Best Earnings Chart?

    The FAANG stocks are hitting new all-time highs going into their earnings reports. Netflix leads off the group. Can they keep their momentum?

  • Reuters

    U.S. safety board cites cockpit crew failures in Atlas Air fatal crash

    The NTSB cited the first officer’s inappropriate response to an inadvertent activation of the airplane’s go-around mode at 6,000 feet that resulted in his spatial disorientation and led him to place the airplane in a steep dive from which it did not recover. Board members said the crash could have been prevented if the Federal Aviation Administration (FAA) had finalized a pilot records database. "The FAA has been dragging their feet through quicksand and not making sufficient progress," NTSB Chairman Robert Sumwalt said at a hearing Tuesday.

  • GLOBAL MARKETS-Stocks rebound on cyclical surge, gold edges higher
    Reuters

    GLOBAL MARKETS-Stocks rebound on cyclical surge, gold edges higher

    Global equity markets rebounded on Tuesday, buoyed by a surge in cyclical stocks on Wall Street as investors bet the economic recovery would overcome a rollback of California's reopening, while safe-haven gold prices solidified gains above $1,800 an ounce. The euro rose versus the dollar on optimism about the possibility of a European Union stimulus package, but market participants remained cautious, leading U.S. and euro-zone government debt yields to fall. A decline in U.S. consumer prices that showed core inflation remained well under the Federal Reserve's target of 2% sent Treasury yields lower, as did concerns about the rollback of business reopenings in California announced Monday.

  • UDR Prices $400 Million of 2.100% Senior Unsecured Medium-Term Notes Due 2032
    Business Wire

    UDR Prices $400 Million of 2.100% Senior Unsecured Medium-Term Notes Due 2032

    UDR, Inc. (the "Company") (NYSE: UDR), announced today that it has priced an offering of $400 million aggregate principal amount of 2.100% senior unsecured medium-term notes due August 1, 2032. The notes were priced at 99.894% of the principal amount, plus accrued interest from July 21, 2020 to yield 2.110% to maturity.

  • AvalonBay Communities Issues Latest Corporate Responsibility Report
    Business Wire

    AvalonBay Communities Issues Latest Corporate Responsibility Report

    AvalonBay Communities, Inc. (NYSE: AVB) today announced the release of its 2019 Corporate Responsibility (CR) Report. In addition to summarizing the Company’s environmental, social and governance (ESG) performance for calendar year 2019, the report also shows the Company’s progress against its 2020 CR goals, introduces new ESG targets beyond 2020 and includes a summary of support provided for AvalonBay’s associates and residents during the COVID-19 pandemic.

  • Virus worries and FOMO drive options bets on surging tech giants
    Reuters

    Virus worries and FOMO drive options bets on surging tech giants

    Options investors are ramping up bets on some of this year's biggest winners, including Amazon.com Inc <AMZN.O>, Netflix Inc <NFLX.O> and Tesla Inc <TSLA.O>, even as they turn cautious on the wider market amid a resurgent U.S. coronavirus outbreak. Investors are betting that tech-related stocks will remain comparatively resilient to the coronavirus-fueled economic disruptions that have battered sectors such as retail and travel, despite growing concerns about stretched valuations following steep rallies. Analysts also see another factor driving the momentum stocks: fear of missing out, or FOMO.

  • Google Is in Advanced Talks to Invest $4 Billion in Jio Platforms
    Bloomberg

    Google Is in Advanced Talks to Invest $4 Billion in Jio Platforms

    (Bloomberg) -- Google is in advanced talks to buy a $4 billion stake in Indian billionaire Mukesh Ambani’s technology venture, people familiar with the matter said, seeking to join rival Facebook Inc. in chasing growth in a promising internet and e-commerce market.The Mountain View, California-based company has been discussing the investment in Jio Platforms Ltd., the digital arm of Ambani’s Reliance Industries Ltd., the people said, asking not to be identified because the information is private. An announcement could come as soon as the next few weeks, according to the people.Jio is at the center of the Indian tycoon’s ambition to transform his energy conglomerate into a homegrown technology behemoth akin to China’s Alibaba Group Holding Ltd. The venture has turned into a magnet for Silicon Valley investors, attracting almost $16 billion from Facebook to KKR & Co. in the past three months.Should the talks with Google result in a deal, that would further burnish Jio’s credentials in its push to upend online retail, content streaming, digital payments, education and health care in a market of more than a billion people.Global technology leaders from Facebook to Intel Corp. are looking for multiple ways to grab a slice of the Indian market, where millions of first-time internet users are added every month. Jio Platforms, which boasts almost 400 million customers through its wireless network, offers the largest base of such users who are increasingly buying consumer goods online and downloading music and video, using cheap smartphones and Jio’s own cut-price data services.Trade war politics have all but eliminated Google’s odds of returning to China. That leaves India as one of the remaining large digital markets where Google’s key business lines, Search and YouTube, have room to grow. It’s also a country where Google has made headway in more nascent efforts, such as payments and health care.Chetan Sharma, a tech industry consultant, said cloud-computing is the main reason Google is investing in Jio. The move would also support Google’s Android smartphone operating system and its mobile payments efforts in the country, he added.Telecom giants are turning to cloud-computing for their next wave of expansion. As a provider, Google has lagged behind competitors in this growing sector, Sharma said. “Google has been more reactive than proactive,” he said. “This gives them a leg in.”Last year, Reliance entered a 10-year deal with Microsoft Corp. for cloud services. The announcement did not describe the partnership as exclusive, and Google’s cloud strategy has centered on offering businesses ways to spend across multiple providers.Read more: Facebook Helps Asia’s Richest Man Shed Dependence on OilAn arm of Qualcomm Inc. is the latest in Jio’s growing list of high-profile investors, which also includes Intel Capital, Silver Lake Partners and Mubadala Investment Co. As of July 12, Reliance had sold 25.2% of Jio, valuing the venture at $65 billion.Google invests widely in companies, through its venture capital units as well as off its own balance sheet. A $4 billion investment would be the largest Google has made in a company outside of the U.S.Here’s a list of confirmed investors in Jio Platforms:Details of the potential deal with Google could change, and negotiations could still be delayed or fall apart, the people said. Reliance’s representatives didn’t immediately respond to requests for comment. A spokeswoman for Google in California declined to comment on Tuesday.The string of investments in Jio has spurred a rally in the shares of parent Reliance. The stock has more than doubled from its March 23 low, rewarding investors who will get to hear Ambani, 63, lay out his road map for the future of the group at the conglomerate’s annual shareholders meeting on Wednesday.The stock surge has also helped Ambani, Asia’s richest man, to break into the exclusive club of the world’s 10 wealthiest people. With a net worth of $72.4 billion, according to the Bloomberg Billionaires Index, the titan has rocketed past Elon Musk, Google co-founders Larry Page and Sergey Brin, as well as legendary investor Warren Buffett in the past few days to become sixth on the list.Just like Facebook, Google is expanding its presence in the Indian market. On Monday, the company said it plans to spend $10 billion over the next five to seven years to help accelerate the adoption of digital technologies in the country. The amount could be put into partnerships and equity investments among others, it said.Sundar Pichai, who was born in the country and is now chief executive officer of Google parent Alphabet Inc., said the coronavirus outbreak has made clear the importance of technology for conducting business and connecting with friends and family.Founded in 1998 in Silicon Valley, Google entered India six years later with offices in Bangalore and Hyderabad. The India business has since grown into one of the company’s most important. The country now has more than 500 million internet users, second only to China, with growth that has proved a lure to a raft of American technology giants.In the last decade, Google has successfully launched several products in India, including an Internet Saathi service to bring women in rural areas online and its Google Pay service.(Updates with Google strategy in sixth 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.

  • Reuters

    US STOCKS-Wall Street ends higher, led by energy and materials

    Wall Street ended higher on Tuesday, led by a surge in the Dow Jones Industrial Average, as investors bought energy and materials stocks and looked beyond a recent surge in coronavirus cases. Limiting gains in the Nasdaq and S&P 500, Amazon lost ground, extending a rotation that began Monday out of many big-name technology and momentum stocks that have led much of the U.S. stock market's rebound since March.

  • Can Netflix stay one of Wall Street's favorite pandemic stocks? Results due Thursday
    Reuters

    Can Netflix stay one of Wall Street's favorite pandemic stocks? Results due Thursday

    Netflix Inc <NFLX.O> will tell investors on Thursday how home-bound audiences and a lack of live sports have boosted its membership rolls even as streaming competition rises to unprecedented levels. Shares of the online video pioneer, trading close to an all-time high at $517.94 on Tuesday, have jumped more than 73% since mid-March when much of the world was urged to stay home to help slow the spread of the novel coronavirus. In April, Netflix wowed Wall Street by reporting twice the number of expected signups for the first quarter, bringing its worldwide total to 182.9 million customers.

  • Buy Netflix Stock on the Dip Ahead of Q2 Earnings for Coronavirus Boost?
    Zacks

    Buy Netflix Stock on the Dip Ahead of Q2 Earnings for Coronavirus Boost?

    We dive into all things Netflix (NFLX) ahead of its second quarter earnings release that's due out after the closing bell on Thursday, July 16...

  • Another Cloud IPO Has a Triple-Digit Debut, But Beware
    Bloomberg

    Another Cloud IPO Has a Triple-Digit Debut, But Beware

    (Bloomberg Opinion) -- The U.S. stock market has had a remarkable run since its coronavirus-induced swoon in March, with technology stocks from Big Tech to upstarts leading the comeback and soaring off their lows. A hot stock market tends to stoke demand for IPOs as well, and that’s exactly what has happened — especially in the area of cloud software and internet services. The latest manifestation of this phenomenon came on Tuesday, when cloud-banking software provider nCino Inc. surged more than 170% in its trading debut. The enthusiasm for this digital niche does make sense on a fundamental level. The pandemic has accelerated the spending shift to cloud-related technologies that enable the work-from-home and digital services we all need to live in a Covid-19 world. So, it’s natural that investors would latch on to the story and bid up many companies related to the space, including new issues. NCino isn’t alone: Cloud-based business-intelligence company ZoomInfo Technologies Inc. soared 62% in its first day of trading in June, while earlier this month, insurance digital-services startup Lemonade Inc. had a triple-digit percentage gain in its debut. All three are posting stellar growth rates and rely on cloud-based infrastructure to deliver their offerings.But a frothier environment is also a recipe for some on Wall Street to take advantage of the heightened investor interest. One potential IPO — Rackspace Technology Inc. — stands out as being particularly suspect. The cloud-computing service provider, owned by private equity firm Apollo Global Management, filed to go public last Friday. After looking at the offering documents, it appears Apollo and its name-brand underwriters such as Goldman Sachs Group Inc., Citigroup Inc. and JPMorgan Chase & Co. are trying to ride the recent wave of cloud enthusiasm with a subpar candidate. For those of us who remember, Rackspace was a second-tier data center and web-hosting company that had trouble competing with Amazon Web Services back when the investment firm took it private in 2016. It doesn’t look like much has changed since then.Simply, Rackspace’s anemic financial results punch a hole in its “cloud” narrative. The company doesn’t deserve to be put in the same breath as the recent big winners in the space. Whereas leading cloud companies have generated stunning sales increases over the past year, Rackspace posted no growth in 2019, according to the filing. And while its revenue did rise marginally about 8% in its March quarter, it is still nowhere in the vicinity of the sector’s best-of-breed. Never mind the fact it lost $48 million in those three months.To illustrate the disparity, cloud monitoring software provider Datadog Inc.’s sales surged by 87% in its latest reported quarter, while user authentication company Okta, Inc. generated revenue growth of 46%. Even Amazon Web Services, at its gargantuan size, saw sales increase by 33% in its March quarter to $10.2 billion, generating $3.1 billion in operating profit for the period. Companies need to show surging demand for their product and services to justify a cloud calling card. These companies do; Rackspace, not so much.On the flip side, one can argue the recent IPOs are widely overvalued. For example, nCino, ZoomInfo and Lemonade are trading at nose-bleed valuations of more than 50 times last year’s sales. But their track records and strong growth prospects can offer at least a shot at a better prospective future.At a time when the surging market has some invoking the word “bubble” and questioning the sustainability of the rally, investors need to look carefully at what bankers and Wall Street firms may be trying to off-load while the arrows are still pointing upward. They should look through the hype, sift through the numbers and analyze each company’s prospects on a case-by-case basis. Not all of the so-called cloud stocks are headed for the sky.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tae Kim is a Bloomberg Opinion columnist covering technology. He previously covered technology for Barron's, following an earlier career as an equity analyst.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.

  • Reuters

    US STOCKS-Dow jumps 1.6%, leads Wall Street higher

    Wall Street rose on Tuesday, led by energy and materials, as investors looked beyond a recent surge in coronavirus cases and rotated out Amazon and other recent strong performers. The S&P 500 energy, materials industrial , health and consumer staples indexes all jumped more than 1%. Limiting gains in the Nasdaq and S&P 500, Amazon fell 1.1%, extending a rotation that began Monday out of many big-name technology and momentum stocks that have led much of the U.S. stock market's rebound since March.

  • 'An unprecedented case': What a U.S. TikTok ban would look like
    Yahoo Finance

    'An unprecedented case': What a U.S. TikTok ban would look like

    Cybersecurity experts say an outright ban of TikTok may be easier said than done, and any move to quash a consumer driven platform on national security grounds unrelated to terrorism would mark a first for the country.

  • Walmart Leads $1.2 Billion Funding Round of Flipkart in India
    Motley Fool

    Walmart Leads $1.2 Billion Funding Round of Flipkart in India

    Walmart (NYSE: WMT) stock is getting a lift in Tuesday-afternoon trading, up more than 1% (the Dow Jones Industrial Average as a whole is up less than 1%) on news that the retail giant is expanding its influence in India. Two years ago, Walmart bought its way into the Indian e-commerce market with a $16 billion purchase of a 77% stake in local company Flipkart, India's No. 1 e-commerce company, ahead of No. 2 Amazon.com (NASDAQ: AMZN). Walmart and other, unnamed investors are investing a further $1.2 billion in Flipkart.

  • 4 Farm and Construction Machinery Companies With High Financial Strength
    GuruFocus.com

    4 Farm and Construction Machinery Companies With High Financial Strength

    Caterpillar gives Dow a late surge Continue reading...

  • Barrons.com

    Google Promises the EU It Won’t Use Fitbit Health Data to Target Ads

    Potentially softening the ground for Google’s pending acquisition of Fitbit, Alphabet pledged late Monday not to use health data from the fitness tracking company to target ads.

  • Facebook to launch officially licensed music videos in the US next month
    TechCrunch

    Facebook to launch officially licensed music videos in the US next month

    Facebook is preparing to launch officially licensed music videos on its social network in the U.S. next month, in a direct challenge to YouTube. In materials reviewed by TechCrunch, Facebook informed Page owners linked to artists they'll need to toggle on a new setting to add their music videos to their page ahead of an August 1st deadline, at which point Facebook will automatically create a page of their videos if no action had been taken. Artists will not have to manually upload their videos or even provide links, Facebook told the artist Page admins.