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BIZARRE: 9 - What They Never Told You

Analysts Remain Cautious Over SAP Post Q2 Results

Analysts remained divided with a cautious tone over SAP SE's (NYSE:SAP) prospects post Q2 results. Barclays analyst Raimo Lenschow saw SAP managing expectations into Q2, and the move lower in consensus halved the adj. EBIT miss. He found the FY guidance cut was unexpected, though, especially following reiterations in the quarter, and could not…

Benzinga

Bill Gates donates $20 billion to his foundation

Microsoft Corp co-founder Bill Gates is donating $20 billion to the charitable foundation run by him and his ex-wife Melinda French Gates to boost its annual distributions.

Reuters

Amazon, Microsoft, Google Strengthen Grip on Cloud

The pandemic period has been a boon for the trio of companies that dominate cloud computing. Now as the economy enters another tumultuous phase, Amazon.com Inc., Microsoft Corp. and Google appear poised to extend their strength.

Bangkok Post

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Facebook, Instagram Fall Prey To Data Scraping; Indict Chinese Company

Meta Platforms, Inc (NASDAQ:META) prosecuted Octopus Data, the U.S. subsidiary of a Chinese national high-tech enterprise Shenzhen Vision Information Technology Co. Octopus Data allegedly offered data scraping services for Facebook and Instagram. Meta also prosecuted a Turkey-based individual, Ekrem Ateş, for allegedly setting up automated Instagram accounts to scrape data from 350,000 Instagram…

Benzinga

Citi Remains Unfazed By Enron Collapse Predictor's Bearishness On These Data Center Stocks

Citi analyst Michael Rollins noted data center stocks Equinix, Inc (NASDAQ:EQIX), Digital Realty Trust, Inc (NYSE:DLR), Cyxtera Technologies, Inc (NASDAQ:CYXT) were down an average of >5% on July 1 on reports (including Financial Times) that an investor is "betting against 'legacy' data centers that now face growing competition from the trio of tech giants that have been…

Benzinga

Blizzard Entertainment Acquires This Boston-Based Studio For Undisclosed Terms

Activision Blizzard, Inc's (NASDAQ:ATVI) Blizzard Entertainment closed the acquisition of the Boston-based studio Proletariat. The financial terms of the transaction remain undisclosed. The acquisition will help better serve players in the multiplayer online role-playing game World of Warcraft. "Over the next two years, we plan to hire hundreds of the best developers to…

Benzinga

Tencent, Other Chinese Companies Follow Western Counterparts In Laying off Staff As Economic Slowdown Weighs

Chinese tech giants like Tencent Holding Ltd (OTC:TCEHY) and TikTok parent ByteDance Ltd implemented fresh layoffs affecting thousands of employees in their latest round of cost-cutting, the Wall Street Journal reports. The job cuts added on to the tens of thousands of employees already axed by Chinese internet companies since late 2021 after the domestic regulatory crackdown crushed the…

Benzinga

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Nvidia, Apple, Microsoft And Others Set To Lose As Gartner Predicts Demand Softness For Smartphones, PCs In 2022

China's economic slowdown and inflation-led drop in consumer spending will likely weigh on the global shipments of computers and smartphones in 2022, as per a Reuters story citing research firm Gartner. Earlier this month, Advanced Micro Devices, Inc (NASDAQ:AMD) warned against a slowdown in the PC market after two solid years. Analysts expected the chipmaker to gain…

Benzinga

Walmart Continues To Consolidate Metaverse Presence With Latest Acquisition Of Memomi

Walmart Inc (NYSE: WMT) agreed to acquire Memomi, an augmented reality (AR) optical tech company. The financial terms of the transaction remain undisclosed. Memomi is a leading technology provider for enhancing virtual optical try-on experiences, helping customers virtually "try on" eyewear in real-time for a seamless, easy, and fun omnichannel experience. Since 2019, Memomi…

Benzinga

Tencent Targets Metaverse After Overseas Opportunities, EV To Drive Growth

Tencent Holding Ltd (OTC:TCEHY) acknowledged setting up a unit focused on exploring the space to tap multiple opportunities in extended reality (XR) technologies in the next 4-5 years, Reuters reports. Gaming chief Steven Ma disclosed that Tencent had set up an XR business line to combine hardware and software, betting on most…

Benzinga

Investors Seek More Transparent Tax, Disclosure Norms From Microsoft and Cisco

Britain-based proxy advisers Pensions & Investment Research Consultants (PIRC) sought more transparent tax and financial information from Microsoft Corp (NASDAQ:MSFT) and Cisco Systems, Inc (NASDAQ:CSCO), Reuters reports. The resolution urged Microsoft to disclose financial and tax information country-by-country outside the U.S. to help investors assess its fairness and identify any risks posed by tax reforms. It also…

Benzinga

Chinese Analyst Provokes Country To Attack Elon Musk's Popular Starlink Satellite Service

In a paper published by the Beijing Institute of Tracking and Telecommunications Technology, a Chinese researcher urged the Chinese military to track and monitor every satellite in the Starlink network, Bloomberg reports. Tesla, Inc (NASDAQ:TSLA) chief Elon Musk’s satellite service provides internet access in over 30 countries. Ren Yuanzhen cited the pervasiveness, ability…

Benzinga

Meta, Microsoft, Alibaba, Others Form Metaverse Governing Body; Apple's Name Missing

Meta Platforms Inc (NASDAQ:META), Microsoft Corp (NASDAQ:MSFT), Alibaba Group Holding Limited (NYSE:BABA), and other tech giants striving to build the emerging metaverse concept have formed a group to foster the development of industry standards. The initiatives look to make the companies' nascent digital worlds compatible. The Metaverse Standards Forum includes leading companies working in the space, from…

Benzinga

Credit Suisse Sees Microsoft Azure Narrow Revenue Gap To Amazon Web Services And Widen Gap To Google Cloud, Alibaba Cloud

Credit Suisse expects Microsoft Corp (NASDAQ: MSFT) Azure, as the “enterprise cloud,” to disproportionately benefit from this accelerated shift to the public cloud.

Benzinga

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Benzinga

Activision Blizzard's Independent Board Gives Its Officers Clean Chit Against Denial Of Harassment Claims

Activision Blizzard, Inc's (NASDAQ:ATVI) Workplace Responsibility Committee of independent directors dismissed allegations of rebuttal of gender harassment claims by senior officials as alleged by different media reports. The gaming giant acknowledged some substantiated instances of gender harassment. However, it denied awareness and tolerance of harassment by the officials. Also Read: Activision Blizzard Registers 22% Revenue…

Benzinga

Twitter's Employees Can't Go To 'The Happiest Place On Earth' In 2023, Cost Cutting Measures Hit Company Travel

Twitter Inc (NYSE:TWTR) is ditching a companywide retreat scheduled for January 2023 at Walt Disney Company (NYSE:DIS) Disneyland - 'The Happiest Place On Earth,' Bloomberg reports. Twitter cited cost-cutting measures to reduce corporate travel behind the move. The company's occasional gathering, known as 'OneTeam,' was last held in early 2020 in Houston before the…

Benzinga

Why Microsoft Stock Is Surging Today

Microsoft Corp (NASDAQ: MSFT) shares are trading higher Wednesday as the overall market rises following the Federal Reserve's rate hike announcement.

Benzinga

Microsoft Fixes Flaw Exploited By State-Backed Hackers

Microsoft Corp (NASDAQ:MSFT) released a fix for Windows zero-day flaw exploited by state-backed hackers. However, cybersecurity firm Sophos noted that the fix did not feature on the list of patches included in the release. However, it confirmed the mitigation of Follina. Microsoft strongly recommended that customers install the updates for complete protection from the vulnerability. Also…

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Benzinga

Morning Brief: Top Financial Stories Dominating on Wednesday, June 15

Reuters Warner Bros Discovery To Undergo Major Global Ad Sales Team Restructuring

Benzinga

Over 100 CEOs Including Alphabet, Amazon, Microsoft Press For China Competition Bill

A broad coalition of 123 CEOs and senior executives representing major sectors of the American economy and millions of U.S. workers urged Congress to pass legislation to amplify U.S. economic competitiveness, including in chip manufacturing. The Semiconductor Industry Association (SIA), which organized the letter signing, claimed it was the largest group…

Benzinga

L3Harris Technologies Eyes Israeli Spyware Firm NSO: Reports

L3Harris Technologies Inc (NYSE:LHX) is planning to acquire Israeli spyware firm NSO Group, Reuters reported, citing U.S. and Israeli media. The deal is expected to be finalized after being approved by Israel, the U.S., and L3Harris’ board of directors. A separate report published by Intelligence Online has shed light on the White House’s…

Benzinga

Bill Gates Slams Crypto, NFTs: Shams Based On 'Greater Fool Theory'

Microsoft Corp (NASDAQ: MSFT) co-founder Bill Gates has launched a barge of criticism against cryptocurrencies and non fungible tokens (NFTs) on Tuesday.

Benzinga

Sony Heightens Microsoft Xbox Rivalry With Latest Move

Sony Group Corp's (NYSE:SONY) Sony Interactive Entertainment disclosed the launch of its all-new PlayStationPlus game subscription service in North and South America, offering more flexibility and value for gaming fans. The service has one monthly fee and will incorporate its separate cloud gaming platform, PlayStation Now. PlayStation Plus subscribers will migrate to the…

Benzinga

Why Microsoft Stock Is Moving Lower Today

Microsoft Corp (NASDAQ: MSFT) shares are trading lower Monday alongside several companies in the broader technology sector amid overall weakness as stocks continue to sell off following worse-than-expected May CPI data.

Benzinga

Activision Blizzard Chief Takes Positive Step Towards Union Taking Cues From Microsoft, Amazon

Activision Blizzard, Inc (NASDAQ:ATVI) CEO Bobby Kotick shared plans to negotiate with the Communications Workers of America over a collective bargaining agreement for employees at its subsidiary Raven Software. Kotick looked to meet CWA leaders at the bargaining table and work toward an agreement. Activision Blizzard faced charges of union-busting and illegally retaliating…

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