Tag Archives: past

Facebook might add your banking info to Messenger

Facebook wants to incorporate your banking info into Messenger and has approached companies like JPMorgan Chase, Wells Fargo, Citigroup and US Bancorp over the past year, the Wall Street Journal reports. People familiar with the discussions told the...

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Chinese tech stocks tumble from more than just trade tensions

Editor’s note: This post originally appeared on TechNode , an editorial partner of TechCrunch based in China. Reports of trade tensions between China and the US in the past few months have been hard to ignore. In early July, the US imposed $34 billion on Chinese goods, prompting the Shenzhen Component Index, dominated by technology and consumer product stocks, to fall to its lowest point since 2014, igniting fears among investors. “The U.S. tariffs, coupled with a falling yuan, will significantly increase the cost for many Chinese technology companies that rely on imported raw materials, such as semiconductors, integrated circuits, and electric components,” Zhang Xia, an analyst for China Merchants Bank Securities, told the South China Morning Post . Additionally, the U.S. commerce department announced yesterday it will place an embargo on 44 Chinese companies —including the world’s largest surveillance equipment manufacturer Hikvision —for “acting contrary to the national interests or foreign policy of the United States.” The move caused the companies’ share prices to fall by nearly six percent. However, the focus has shifted to more than just the trade war. And a number of big Chinese tech companies have seen their share prices plummet for other reasons. Pinduoduo, China’s latest e-commerce giant to list on the Nasdaq, found that an initial public offering (IPO) is not a panacea. Conversely, its listing has drawn attention to the company’s counterfeit products. And investors are not happy. Tencent’s shares have nosedived by over 25 percent since its peak in January, erasing $143 billion in market value over the past seven months.

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On Tesla’s earnings day, watch for these 4 indicators

A little more than a year ago, Tesla CEO Elon Musk handed over the first Model 3 electric vehicles to employees at a splashy event in Hawthorne, California. It’s been (production) hell ever since, a term Musk has used repeatedly in the past 12 months as the electric automaker struggled to ramp up production of its most important vehicle to date. Now, a month after Tesla hit a key milestone and produced nearly 5,000 Model 3 cars in the last week of June, investors, fans and critics are waiting to get a closer look at the company’s finances. Tesla is expected to report its second quarterly earnings after the market closes August 1. A conference call will be held at 2:30 pm PT. Here’s what we’re looking for and what we hope to hear from Musk: Conversions Tesla has opened the Model 3 waitlist floodgates and invited all reservation holders in the U.S. and Canada to order the electric sedan. Tesla might not share the number of reservations holders who have opted to ask for a refund or to go ahead and order a Model 3. But that figure would give insight on demand as well as help determine what obstacles lie ahead. For instance, a large number of reservations converting to orders might signal a rosy future for revenue as well as potential headwinds in production and delivery times with the increased volume. Those reservations also equal money. The company had $985 million in customer deposits, which includes the Model 3, at the end of the first quarter.

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Apple nears a $1 trillion market cap as it clears another quarter ahead of expectations

Apple is inching closer and closer to becoming a $1 trillion company today after posting third quarter results that beat out what analysts were expecting and bumping the stock another few percentage points — which, by Apple standards, is tens of billions of dollars. The company’s stock is up around 2.5% this afternoon after the report, which at a prior market close with a market cap of around $935 billion, is adding nearly another $20-plus billion to its market cap. A few quarters ago we were talking about how Apple was in shooting distance of that $1 trillion mark, but now it seems more and more like Apple will  actually hit it. Apple is headed into its most important few quarters as we hit the back half of the year, with its usual new lineup of iPhones and other products and its accompanying critical holiday quarter. Here’s a quick breakdown of the numbers: Revenue:   $53.3 billion, up 17% year-over-year compared to analyst expectations of $52.34 billion. Earnings : $2.34 per share compared to analyst estimates of $2.18 per share. iPhones : 41.3 million, up 1% year-over-year though revenue on the iPhone line was up 20% year-over-year. Analysts expected 41.79 million iphones sold. iPhone average selling price : $724 iPads : 11.55 million, up 1% year-over-year but ahead of analyst expectations of 10.3 million. Macs : 3.7 million, down 13% year-over-year and behind analyst expectations Services : $9.6 billion, up 31% year-over-year. Other products : $3.7 billion, up 37% year-over-year.

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Daimler’s car2go car-sharing service adds its first US city in four years

Car2go , the free-floating car-sharing service owned by Daimler, launched in Chicago this week — the company’s 25th market globally. The car-sharing company, which lets customers rent out vehicles on a short-term basis, has been steadily expanding in the past several years, adding to and changing up its fleet beyond the diminutive Smart cars that were once the lone option for customers. This launch stands out because it’s the first time in four years that car2go has added a U.S. city to its ranks. The last time car2go added a U.S. city was New York in 2014. The car-sharing service has more than 3 million registered members worldwide, according to the company’s website. Today, the car-share service offers  Mercedes-Benz CLA and GLA, as well as the two-door Smartfortwo vehicles. Daimler was one of the first automakers to get into the car-sharing business. And others have followed, some of which have announced plans just in the past few months.

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While tech waffles on going public, biotech IPOs boom

For people who make investment decisions based on revenues and projected earnings, biotech IPOs are kind of a non-starter. Not only are new market entrants universally unprofitable, most have zero revenue. Going public is mostly a means to raise money for clinical trials, with red ink expected for years to come. That pattern may be one reason the venture capital press, Crunchbase News included, tends to devote a disproportionately small portion of coverage to biotech IPOs. It’s more exciting to watch a big-name internet company  pop  in first-day trading or  poke fun  at an underperforming dud. But with our fixation on all things tech, we’re missing out on the big picture. There are actually a lot more biotech and healthcare startup IPOs than tech offerings. In the second quarter of this year, for instance, at least 16 U.S. venture-backed biotech and healthcare companies went public, compared to just 11 tech startups. In three of the past four years, bio offerings outnumbered tech IPOs, according to Crunchbase data. In the following analysis, we attempt to get up to speed on the pace of biotech offerings, assess where we are in the cycle and spotlight some of the rising stars. Biotech outpaces tech As mentioned above, U.S.

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Microsoft caps off a fine fiscal year seemingly without any major missteps in its last quarter

Microsoft is capping off a rather impressive year without any major missteps in its final report for its performance in its 2018 fiscal year, posting a quarter that seems to have been largely non-offensive to Wall Street. In the past year, Microsoft’s stock has gone up more than 40 percent. In the past two years, it’s nearly doubled. All of this came after something around a decade of that price not really doing anything as Microsoft initially missed major trends like the shift to mobile and the cloud. But since then, new CEO Satya Nadella has turned that around and increased the company’s focused on both, and Azure is now one of the company’s biggest highlights. Microsoft is now an $800 billion company, which, while still considerably behind Apple, Amazon and Google, is a considerable high considering the past decade. In addition, Microsoft passed $100 billion in revenue for a fiscal year. So, as you might expect, the stock didn’t really do anything, given that nothing seemed to be too wrong with what was going on. For a company that’s at around $800 billion, that it’s not doing anything bad at this point is likely a good thing. That Microsoft is even in the discussion of being one of the companies chasing a $1 trillion market cap is likely something we wouldn’t have been talking about just three or four years ago. The company said it generated $30.1 billion in revenue, up 17 percent year-over-year, and adjusted earnings of $1.13 per share. Analysts were looking for earnings of $1.08 per share on revenue of $29.23 billion.

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Microsoft caps off a fine fiscal year seemingly without any major missteps in its last quarter

Microsoft is capping off a rather impressive year without any major missteps in its final report for its performance in its 2018 fiscal year, posting a quarter that seems to have been largely non-offensive to Wall Street. In the past year, Microsoft’s stock has gone up more than 40 percent. In the past two years, it’s nearly doubled. All of this came after something around a decade of that price not really doing anything as Microsoft initially missed major trends like the shift to mobile and the cloud. But since then, new CEO Satya Nadella has turned that around and increased the company’s focused on both, and Azure is now one of the company’s biggest highlights. Microsoft is now an $800 billion company, which, while still considerably behind Apple, Amazon and Google, is a considerable high considering the past decade. In addition, Microsoft passed $100 billion in revenue for a fiscal year. So, as you might expect, the stock didn’t really do anything, given that nothing seemed to be too wrong with what was going on. For a company that’s at around $800 billion, that it’s not doing anything bad at this point is likely a good thing. That Microsoft is even in the discussion of being one of the companies chasing a $1 trillion market cap is likely something we wouldn’t have been talking about just three or four years ago. The company said it generated $30.1 billion in revenue, up 17 percent year-over-year, and adjusted earnings of $1.13 per share. Analysts were looking for earnings of $1.08 per share on revenue of $29.23 billion

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Comcast gives up on buying 21st Century Fox

The dance between Disney, Fox and Comcast has been complicated over the past few months, but it got a little simpler today. Comcast announced that it is withdrawing its offer to buy the assets of 21st Century Fox, according to CNBC. The company is in...

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