Disney missed Wall Street expectations in its Q3 earnings report. DIS stock fell 3.7% in after-hours trading. Disney blamed the earnings miss on the ongoing integration of Fox’s entertainment assets, which it acquired in a $71B deal closed in March.
Tesla (TSLA) project Dojo was revealed during the recent Tesla Autonomy Investor Day held a few weeks ago. Elon Musk mentioned the Dojo as the key to labeling visual data, which is currently a very difficult task.
Following China’s extreme devaluation of the Yuan, the U.S. Treasury Department has labeled China a “currency manipulator.” Global stocks are already taking hits and economists believe a global recession is likely.
Global markets, mostly in Asia, are beginning to feel serious impact from the China-U.S. trade war as stocks set record losses, triggering emergency meetings and threats of protest.
Stock markets including the Dow and Nasdaq were hit with losses after U.S. President Trump announced a 10% increase in tariffs of about $300 billion worth of Chinese imports. Several retail stocks were also affected.
Fortnite superstar Tyler “Ninja” Blevins left Twitch and is taking his video game live streams to Microsoft’s Mixer platform, a stunning switch that could have wide-ranging consequences for the rapidly growing industry.
Beyond Meat prices its secondary stock offering at $160, six times the price of its IPO. The share price is an 18.6% discount from the stock’s closing price on Wednesday.
Google’s parent Alphabet became the most cash-rich company in the world during the second quarter of 2019, taking Apple’s long-held crown. Alphabet apparently has $117 billion in cash, while Apple has $102 billion.
Google has commenced testing Play Pass, a subscription service that will give users full access to all content including gaming and non-gaming apps. This is coming a few months after Apple announced its own version, Apple Arcade.
Rebel Foods, Mumbai based restaurant quietly raised whopping $125 million cash and is expanding rapidly. The restaurant bounces back after almost shutting its doors, and is currently valued at $535 million startup.
Revolut, the financial services firm, has just launched a new digital service that will allow its customers trade U.S. stock from the New York Stock Exchange and Nasdaq. The service will be free and available to all customers.
A report released by KPMG issue hopes that the second half of 2019 could witness record-breaking highs fueled by massive M&A closings. This comes despite the fintech investment in the U.S. fell during HI’19.
Overstock.com, the retail giant firm, has just announced that it will be paying dividends to its shareholders in digital shares powered by an affiliate company, tZero. The CEO has expressed commitment to a blockchain capital market.
Through this Bitcoin mining IPO, Canaan plans to raise $200 million from the public. This is the company’s second attempt for public filing.
Apple Inc.’s (AAPL) sales grew very little, and its profit fell by 13% in its latest quarter. The company however projected revenue for the current quarter that topped analysts’ estimates. Apple’s stock jumped 4%.