• As coronavirus shifts user habits, tech firms try to upgrade experience
    Yahoo Finance Canada

    As coronavirus shifts user habits, tech firms try to upgrade experience

    If they haven’t already been upgrading, companies managing major apps and online tools will now have a “boost of creativity” in developing better user experiences as thousands of people shift their habits in using them during the COVID-19 pandemic, experts say. 

  • Bloomberg

    Dorsey Pledges $1 Billion of Square Stake for Virus Relief

    (Bloomberg) -- Jack Dorsey pledged $1 billion of his stake in Square Inc., the payments firm he co-founded, to coronavirus relief efforts, the largest pandemic-related donation yet.“I hope this inspires others to do something similar,” Dorsey said Tuesday in a tweet. “Life is too short, so let’s do everything we can today to help people now.”It will likely take several quarters or even years to complete the transfer, according to a Square spokesperson. The proceeds from the initial sales will fund coronavirus relief efforts. So far, $100,000 has been donated to America’s Food Fund to “help fund meals to people impacted by COVID,” according to a publicly available spreadsheet Dorsey linked to in his tweet.“After we disarm this pandemic, the focus will shift to girl’s health and education, and UBI,” Dorsey said in the tweet, referring to universal basic income, the idea that all citizens should be provided with a certain amount of money each month. The pledge represents about 28% of his wealth, he said.Dorsey has been working from his home in San Francisco’s affluent Sea Cliff neighborhood, following shelter-in-place orders that are keeping many people from their regular activities. Also the co-founder and chief executive officer of Twitter Inc., he has a net worth of about $3.9 billion, according to the Bloomberg Billionaires Index. The bulk of his fortune -- about $3 billion -- is made up of Square equity.Shares of San Francisco-based Square, which were little changed during regular trading, dropped about 1% in the extended session.While other billionaires have announced significant donations to combat the pandemic and the anticipated economic turmoil, Dorsey’s pledge is by far the biggest so far. Before his announcement, $2.85 billion had been committed in the U.S. by companies, public charities, family foundations and individuals, according to Candid, a nonprofit research and support organization.Amazon.com Inc.’s Jeff Bezos, the world’s richest person, is donating $100 million to Feeding America. Michael and Susan Dell have committed another $100 million, mostly for global relief efforts. The Bill & Melinda Gates Foundation pledged a similar amount to develop a vaccine and pay for detection, isolation and treatment initiatives. Mark Zuckerberg and Priscilla Chan announced a $25 million commitment last month to help research a possible drug for Covid-19. The couple’s philanthropic organization, the Chan Zuckerberg Initiative, is working with Bay Area hospitals to offer free Covid-19 tests.Black, Ken Griffin Donate to Coronavirus Fight: Donation TrackerThis is not the first time Dorsey has announced a large stock pledge. In 2015, shortly after Twitter cut roughly 8% of its employees, Dorsey said he was donating almost $200 million in Twitter stock back to the employee grant pool. “I’d rather have a smaller part of something big than a bigger part of something small. I’m confident we can make Twitter big!” he tweeted at the time.On Tuesday, Dorsey wrote that he wants to be more transparent with his philanthropy so he and others can learn from it, adding that he’s donated $40 million in the past, mostly anonymously.Across the world, there have been more than 1.41 million virus cases and over 81,000 deaths. The San Francisco Bay Area, where Dorsey and his companies are based, had some of the earliest U.S. cases and authorities in the region took aggressive action to rein in the virus.Aside from the physical and mental toll the virus will take, the economic impact is also severe. The U.S. jobless rate has jumped to 4.4% -- the highest since 2017 -- from a half-century low of 3.5%, and is expected to surge in coming months.“Why now?,” Dorsey said in his Tuesday tweet. “The needs are increasingly urgent, and I want to see the impact in my lifetime.”(Updates with details throughout)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.

  • Amazon to suspend delivery service competing with UPS, FedEx
    Reuters

    Amazon to suspend delivery service competing with UPS, FedEx

    The online retailer told customers that the service, Amazon Shipping, will be paused starting in June, according to the Wall Street Journal, which was first to report the change. Amazon is suspending the service because it needs people and capacity to handle a surge in its own customers’ orders, the Journal reported, citing sources. "We regularly look at a variety of factors across Amazon to make sure we're set up in the right way to best serve our customers," an Amazon spokesperson told Reuters in an email confirming the halt in service.

  • Oilprice.com

    The Oil Price Crash Won’t Stop The Tesla Boom

    Low gasoline prices are generally considered a negative for electric vehicles as their ICE competitors become cheaper to run, but Tesla is still outperforming its gasoline rivals

  • Microsoft (MSFT) Dips More Than Broader Markets: What You Should Know
    Zacks

    Microsoft (MSFT) Dips More Than Broader Markets: What You Should Know

    In the latest trading session, Microsoft (MSFT) closed at $163.49, marking a -1.08% move from the previous day.

  • Alphabet (GOOGL) Stock Moves -0.05%: What You Should Know
    Zacks

    Alphabet (GOOGL) Stock Moves -0.05%: What You Should Know

    Alphabet (GOOGL) closed the most recent trading day at $1,182.56, moving -0.05% from the previous trading session.

  • Facebook (FB) Gains As Market Dips: What You Should Know
    Zacks

    Facebook (FB) Gains As Market Dips: What You Should Know

    Facebook (FB) closed the most recent trading day at $168.83, moving +1.98% from the previous trading session.

  • Amazon (AMZN) Gains As Market Dips: What You Should Know
    Zacks

    Amazon (AMZN) Gains As Market Dips: What You Should Know

    In the latest trading session, Amazon (AMZN) closed at $2,011.60, marking a +0.7% move from the previous day.

  • Should We Be Concerned About Apple In 2020?
    Zacks

    Should We Be Concerned About Apple In 2020?

    AAPL remains a stock I'd hang on to.

  • Cloud Computing Seen as Tech Haven Amid Pandemic Uncertainty
    Bloomberg

    Cloud Computing Seen as Tech Haven Amid Pandemic Uncertainty

    (Bloomberg) -- The coronavirus pandemic has pressured nearly every corner of the global economy, but analysts continue to see sunny days ahead for cloud computing and the ecosystem that surrounds the technology.The sub-sector is seen as a rare bright spot in the current environment, particularly as the outbreak pushes more people to work remotely, contributing to a long-term trend of rising demand. The boost is expected to be broad based, helping software companies, communication firms, and chipmakers that focus on data-center products, which are processors used in cloud computing.“The lasting impact of Covid-19 could actually be a net positive,” wrote Richard Baldry, an analyst at Roth Capital Partners. Cloud-based communication companies “should see increased customer activity, at least once operational bandwidth returns to a somewhat more normal level for prospects.” He listed Five9, Medallia, eGain and LivePerson as names that could see stronger demand and which were trading at valuations he views as attractive.So far this year, the Global X Cloud Computing ETF -- an exchange-traded fund that tracks an index of companies involved in the space -- is down 6.4%. A different ETF, the First Trust Cloud Computing ETF, is down 9.2%. Both have outperformed the S&P 500’s drop of more than 15% over the same period.According to Wedbush, the pandemic has thrown “sales cycles, procurement/IT departments, and budgets into a tornado-like state of chaos,” resulting in unprecedented risks to IT spending. Even in this environment, analyst Daniel Ives wrote, “cloud remains a theme”; he expects $1 trillion to be spent on cloud computing over the coming decade.Ives named Microsoft as “the Rock of Gibraltar cloud stock to own,” but said the trend would also support the cloud-computing businesses of both Amazon and Alphabet.Earlier this week, Bank of America referred to cloud-focused chipmakers as a “shining house in [a] tough neighborhood,” referring to the headwinds facing other areas of the industry. Analyst Vivek Arya expects cloud capex to rise 13% in 2020. While this is down from a prior view of 16% growth -- the lower estimate reflects “the most current Covid-19 headwinds” -- it represents a “robust acceleration” from 2019, when capex grew just 3.5%.The firm listed Broadcom, Nvidia, Advanced Micro Devices, Marvell Technology and Intel among the chipmakers most exposed to this trend. Nvidia has been one of the rare semiconductor gainers this year, and analysts have pointed to its data-center business as a tailwind.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.

  • 3 Gaming & eSports Stocks for Coronavirus-Led Lockdown
    Zacks

    3 Gaming & eSports Stocks for Coronavirus-Led Lockdown

    Entertainment options, such as online gaming come to the rescue of homebound and bored Americans with related equities witnessing an uptick because of solid demand.

  • NVIDIA Stock Falls 3%
    Investing.com

    NVIDIA Stock Falls 3%

    Investing.com - NVIDIA (NASDAQ:NVDA) Stock fell by 3.05% to trade at $259.93 by 14:41 (18:41 GMT) on Tuesday on the NASDAQ exchange.

  • Coronavirus Progress Boosts Investors' Sentiments
    Zacks

    Coronavirus Progress Boosts Investors' Sentiments

    Coronavirus Progress Boosts Investors' Sentiments.

  • Nvidia Reverses From Buy Zone
    Investor's Business Daily Video

    Nvidia Reverses From Buy Zone

    Nvidia jumped above a 275.50 cup-with-handle buy point at the open, but reversed lower. Looks like it'll try to hold 50-day line. Example of why it's good to wait 30/60 minutes after open to see how stock

  • Amazon Actionable
    Investor's Business Daily Video

    Amazon Actionable

    Amazon edged higher (for now!!), holding above 50-day line and recent highs. Aggressive entry. Has traditional 2186.05 buy point.