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Just when you didn't think there could be any more drama over the Pentagon's decade long, $10 billion JEDI contract RFP, the plot thickened again last week when Amazon Web Services (AWS) joined the US government as a defendant in Oracle's lawsuit over the Pentagon's handling of the contract RFP process. Earlier this month, Oracle filed a complaint in the United States Court of Federal Claims alleging that the JEDI RFP process unfairly favored Amazon, that the single vendor decision (which won't be made until April), violates federal procurement rules and that two members of the JEDI team had a conflict of interest because of previous affiliations with Amazon Web Services.
NEW YORK/KUALA LUMPUR (Reuters) - Malaysia on Monday filed criminal charges against Goldman Sachs Group Inc related to its dealings with the sovereign wealth fund 1MDB, and Goldman Sachs fired back that the previous Malaysian government had lied to the bank. Malaysia authorities charged the bank and two former Goldman employees in connection with an investigation into suspected corruption and money laundering related to the scandal. Attorney General Tommy Thomas said in a statement that it will seek jail terms as well as billions in fines from Goldman Sachs and four other individuals who allegedly diverted about $2.7 billion from 1Malaysia Development Bhd (1MDB).
Malaysia authorities charged the bank and two former Goldman employees in connection with an investigation into suspected corruption and money laundering related to the scandal. Attorney General Tommy Thomas said in a statement that it will seek jail terms as well as billions in fines from Goldman Sachs and four other individuals who allegedly diverted about $2.7 billion from 1Malaysia Development Bhd (1MDB). This is the first time Goldman Sachs, which has consistently denied wrongdoing, has faced criminal charges in the 1MDB scandal.
Apple (AAPL) has been taking its push into the content space seriously. The iPhone maker has been spending a lot of money roping in stalwarts of the industry, including Oprah, Steven Spielberg, and Jennifer Aniston. Analysts expect Apple to launch its own programming service sometime next year, projecting that the tech giant spent $1 billion this year.
“Black Monday” refers to the stock market crash on Monday, October 19, 1987. The crash was pre-empted by investors’ fears that the broader market (VTI) was entering a bear market cycle and concerns about slowing economic growth. Other negative global factors also played a role in the crash. On Black Monday, the S&P 500 saw (SPY)(QQQ) about 20.5% value erosion in a single day.
On December 13, Delta Air Lines (DAL) provided updates on its 2019 outlook during a meeting with investors. Delta’s updates fell short of analysts’ expectations. For 2019, Delta expects an EPS between $6 and $7 (the midpoint is $6.50). Although at the midpoint, the earnings forecast signifies strong ~20% growth from the 2018 expected EPS of $5.59, it fell short of analysts’ consensus estimate of $6.69.
Ryan McQueeney discusses concerns about slowing economic growth in China and a major court ruling affecting healthcare stocks. He also highlights trending stocks Proteostasis Therapeutics and New Age Beverages. Later, he previews earnings from Red Hat, Oracle, and Micron.