Bank of Australia news

(Bloomberg) -- Australia’s central bank was dragged further into the global easing tide as it cut interest rates for the third time this year, even as it risks refueling excesses that Governor Philip Lowe warned against just weeks ago.The Reserve Bank reduced the cash rate by 25 basis points to a record-low 0.75% and said it may ease even further, venturing deeper into levels where unconventional measures may need to be adopted. The move is in part designed to prevent a rebound in the depreciating currency that might have been triggered if it stood pat while global counterparts eased.“The global race to the bottom is, in a sense, dragging the RBA along,” said Michael Blythe, chief economist at the Commonwealth Bank of Australia. “Failure to participate could see the Australian dollar move higher.”Global risks from the U.S.-China conflict to Hong Kong riots have forced Lowe to tilt from a stubborn focus on financial stability that defined the start of his tenure three years ago. Only in August, he was warning global policy makers at the Jackson Hole symposium that easier monetary conditions will “push up asset prices, which brings its own set of risks.”Lowe’s fears were confirmed locally just hours before Tuesday’s decision, with data showing the RBA’s June and July cuts had reawakened Australia’s dormant housing market at a time households are already saddled with record debt levels. Prices rose the most since March 2017, led by hot spots Sydney and Melbourne.“The board took account of the forces leading to the trend to lower interest rates globally and the effects this trend is having on the Australian economy and inflation outcomes,” Lowe said in his statement Tuesday. It “will continue to monitor developments, including in the labor market, and is prepared to ease monetary policy further if needed.”The Australian dollar declined, trading at 67.06 U.S. cents at 4:15 p.m. in Sydney, compared with 67.48 cents before the decision.What Bloomberg’s Economists Say“The RBA continued to signal willingness to ease policy further, if needed. That should continue to keep a rein on the Australian dollar, further nurturing a recovery.”\--Tamara Mast Henderson, EconomistClick here for the whole reportTuesday’s cut is also designed to give maximum kick to a “gentle turning point” that Lowe says he sees in the economy following a year of weak growth. The governor is similarly trying to stem unemployment -- which climbed to 5.3% in August as a swelling labor force overwhelmed an increase in hiring -- and bolster consumer confidence in order to revive household spending.“Forward-looking indicators of labor demand indicate that employment growth is likely to slow from its recent fast rate,” Lowe said. “The economy still has spare capacity and lower interest rates will help make inroads into that.”Lowe wants to stoke the local economy hard to try to ensure its resilience. At 0.75%, the cash rate is close to the lower bound that he and Deputy Governor Guy Debelle estimate is around 0.25%-0.5%. Both have previously said they don’t expect to have to turn to bond buying and other alternative measures, as they wait and gauge the success of existing stimulus.“The Reserve Bank is likely to cut again early next year,” said Callam Pickering, economist at global jobs site Indeed. “Bank officials are reluctant to discuss quantitative easing but it becomes a real possibility the closer we come to a cash rate of 0%.”Lowe is scheduled to speak at the RBA board dinner later Tuesday, at 7.20 p.m. in Melbourne. There will be no Q&A session.(Updates with economist comments.)To contact the reporters on this story: Michael Heath in Sydney at mheath1@bloomberg.net;Chris Bourke in Sydney at cbourke4@bloomberg.netTo contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Malcolm Scott, Chris BourkeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

(Bloomberg) -- Australia’s jobless rate unexpectedly climbed in August as the labor force swelled to a fresh record, signaling additional labor-market slack that sets the scene for further easing by the central bank.Unemployment climbed to 5.3%, the highest level in a year, and above the 5.2% forecast by economists, data from the statistics bureau showed in Sydney Thursday. The 34,700 increase in jobs for the month was swamped by the seemingly inexorable rise in the participation rate to 66.2%.“Today’s labor force data is the smoking gun that will force the RBA’s hand,” said Gareth Aird, senior economist at Commonwealth Bank of Australia, who brought forward his rate-cut call by a month to October. “From a monetary policy perspective, the level of labor market slack trumps the rate of employment growth.”The result is the wrong direction for a Reserve Bank trying to push down unemployment and revive inflation that’s lain dormant for almost half a decade. Governor Philip Lowe has lowered the cash rate to 1% to support economic growth and is urging the government to join the stimulus push, an effort frustrated by a focus on returning the budget to the black.Just an hour prior to the release, Treasurer Josh Frydenberg announced an improved deficit of just A$690 million ($468 million) in the fiscal year that ended June 30. That dashed expectations of an earlier-than-forecast surplus which may have allowed him to declare the government had met its election promise and was now prepared to boost spending.The Aussie dollar fell after the jobs data, buying 67.87 U.S. cents at 2:50 p.m. in Sydney from 68.13 before its release.What Bloomberg’s Economists Say“We don’t expect a cut from the RBA in October. It takes time to show progress in aggregate. What’s more, the continued increase in participation, in combination with strong hiring momentum, bolsters household incomes.”\-- Tamara Mast Henderson, EconomistClick here for the full reportThursday’s jobs report showed deterioration in two key indicators of labor-market slack. The underemployment rate climbed 0.1 percentage point to 8.6% and underutilization -- the sum of the unemployment and underemployment rates -- advanced by the same amount to 13.8%.Lowe earlier this year reduced the estimated level of full employment in the economy to 4.5% from around 5%, and cited the lower figure as justification for rate cuts in June and July. Money markets and economists expect him to ease twice more to 0.5%, a level that would be close to the lower bound of policy and open the door to unorthodox measures.Two of the nation’s most-watched economists, Westpac Banking Corp.’s Bill Evans and JPMorgan Chase & Co.’s Sally Auld, also think Lowe will move next month -- and then again in February. The governor is due to speak Tuesday in an address titled “An Economic Update” and speculation is mounting that he could signal an imminent rate cut then.To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.netTo contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Chris Bourke, Victoria BatchelorFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

22 Aug, 2019 07:40 / Yahoo! Finance

(Bloomberg Opinion) -- Since getting burned in the financial crisis, HSBC Holdings Plc has been in sell rather than buy mode. But now that it’s out shopping, the bank is looking to splurge. HSBC is eyeing the Asian assets of struggling British insurer Aviva Plc, which could be worth between $3 billion and $4 billion, Bloomberg reporters Dinesh Nair, Manuel Baigorri and Stefania Spezzati wrote Thursday. That would make it one of the bank’s largest purchases since it bought subprime lender Household International for $15.5 billion in 2003.The London-based lender should be prepared to pay even more: Aviva is sure to have many suitors. While the company had a difficult run in Asia, a buyer with more regional presence could better navigate the regulatory hurdles of a fractured market. The bulk of Aviva’s Asian assets are in Singapore, where a large pool of affluent residents has helped gross written premiums rise 13% per year industry-wide, according to Bain & Co. Aviva has 885,000 customers in the Southeast Asian country and was the sixth-largest insurer in Singapore last year – ahead of HSBC. The company accounted for 4.2% of the city-state’s insurance assets in 2018, says Bloomberg Intelligence analyst Steven Lam.A rare, large asset like Aviva is bound to pique the interest of FWD Group Ltd., which Hong Kong billionaire Richard Li built from the ashes of Dutch insurer ING Groep NV’s Asian businesses. FWD, widely believed to be preparing for an initial public offering, has been busy buying assets: Late last year, it snapped up an 80% stake in Commonwealth Bank of Australia’s Indonesian life insurance arm for A$426 million ($302 million). The Japanese, meanwhile, have been avid acquirers of Southeast Asian insurance assets for years, as low growth and negative bond yields at home crimp the savings of its aging population. Just this week, Japan's Taiyo Life Insurance Co. said it will buy 35% of Myanmar's Capital Life Insurance Ltd. Tokio Marine Holdings Inc. bought the Thai and Indonesian businesses of Sydney-based Insurance Australia Group Ltd. for about A$525 million ($355 million) last year, and has been open about its Southeast Asian ambitions.It makes sense that HSBC is eager to jump in: Its chairman, Mark Tucker, is an insurance supremo, having run AIA Group Ltd. and Prudential Plc previously. The recent protests in Hong Kong are pressuring the bank, which gets more than half of its pretax profit from the former British colony, to diversify, as other firms with big bases in the city have done. On Thursday, HSBC broke its silence and called for a peaceful resolution to the tensions in a newspaper ad.With the midpoint of the $3 billion to $4 billion price range amounting to 22 times Aviva's 2018 adjusted operating profit, these jewels aren’t coming cheap. That’s the same level at which AIA, Asia’s biggest insurer, trades. Bidders should prepare for a price war.To contact the author of this story: Nisha Gopalan at ngopalan3@bloomberg.netTo contact the editor responsible for this story: Rachel Rosenthal at rrosenthal21@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Commonwealth Bank of Australia and other ratings that are associated with the same analytical unit. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

Full Year 2019 Commonwealth Bank of Australia Earnings Call

(Bloomberg) -- Swedish payments and banking firm Klarna became the most valuable European fintech startup after new funding pushed its post-money valuation to $5.5 billion.Klarna reached that status after raising $460 million in an equity round that will help it “continue its rapid rise in the U.S. market where it is currently growing an annual rate of six million new U.S. consumers,” the company said in a statement on Tuesday.With its new funding, the Stockholm-based startup leapfrogs European fintech darlings TransferWise and N26, which have recently been valued at $3.5 billion.Klarna helps online shoppers arrange financing at points of purchase, as well as provide merchants with payment tools. It challenges companies such as PayPal Holdings Inc., Square Inc. and Adyen NV, each of which has their own twist on facilitating commerce between sellers and shoppers.Dragoneer Investment Group led the raise, according to the statement. Other participants included the Commonwealth Bank of Australia, HMI Capital LLC, Merian Chrysalis Investment Co. and Sweden’s AP1 state pension fund, as well as accounts managed by BlackRock Inc. These additional investments follow the January announcement that the rapper known as Snoop Dogg had invested in the Swedish firm.Numis acted as exclusive financial adviser and placement agent to Klarna.To contact the reporters on this story: Ali Ingersoll in London at aingersoll1@bloomberg.net;Niklas Magnusson in Stockholm at nmagnusson1@bloomberg.netTo contact the editors responsible for this story: Giles Turner at gturner35@bloomberg.net, Nate Lanxon, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

SYDNEY/BENGALURU (Reuters) - Australia's three biggest banks said they will test a new bank-guarantee platform for shopkeepers that uses a shared database, claiming the project would mark the world's first use of blockchain technology to process retail financing. Commonwealth Bank of Australia, Westpac Banking Corp and Australia and New Zealand Banking Group Ltd are teaming up with local Westfield mall owner Scentre Group to test the use of IBM software to process financing contracts on the same network. The banks running the trial believe switching to blockchain could cut processing time to a day from a month and reduce the risk of fraud.

SYDNEY/BENGALURU, July 4 (Reuters) - Australia's three biggest banks said they will test a new bank-guarantee platform for shopkeepers that uses a shared database, claiming the project would mark the world's first use of blockchain technology to process retail financing. Commonwealth Bank of Australia, Westpac Banking Corp and Australia and New Zealand Banking Group Ltd are teaming up with local Westfield mall owner Scentre Group to test the use of IBM software to process financing contracts on the same network.

Half Year 2019 Commonwealth Bank of Australia Earnings Call

Australia's central bank cut rates to a record low on Tuesday and signalled willingness to go further as a worsening Sino-U.S. trade war raises recession risks for the world economy, pushing policymakers into what could be a global monetary easing cycle. RBA Governor Philip Lowe said the rate cut was designed to support employment growth and lift inflation, which has consistently undershot its 2%-to-3% medium-term target. "It is possible that the current policy settings will be enough – that we just need to be patient.

Bitcoin news

18 Oct, 2019
ACINQ, a startup that is working on bitcoin’s Lightning Network to make it a “scalable and instant” payments network, has just launched a wallet for making faster payments.The post Bitcoin lightning startup ACINQ launches a wallet for faster payments ‘under 3 minutes’ appeared first on The Block.
Cryptocurrency exchange Binance’s futures trading platform, Binance Futures, has just increased leverage up to 125 times from 20 times earlier. Announcing the news on Friday, Binance said traders can now select any leverage from 1x to 125x for its bitcoin (BTC)/ tether (USDT) futures contracts.The post Binance increases leverage up to 125x for its futures trading platform appeared first on The Block.
Cryptocurrencies, including bitcoin, have so far failed to provide a "reliable and attractive" means of payment or store of value, according to a report from the Group of Seven (G7) nations.The post Bitcoin has failed as a means of payment or store of value: G7 report appeared first on The Block.
It’s a mixed start to the day, with Bitcoin Cash ABC bucking the trend. Movement in the late morning will dictate the direction for the day.
It’s a mixed start to the day. Bitcoin would need to steer clear of sub-$8.060 levels to support further upside on the day.
17 Oct, 2019
21:27
Yahoo! Finance
Disclosure: Shift Cryptosecurity, the creators of BitBox, sent The Block the BitBox02 devices that are reviewed in this article. The Block is beginning a new series in which we will offer "first impression" reviews of products in the cryptocurrency industry; this article is the first in that series.The post The Block Review: BitBox02 appeared first on The Block.
Investors in digital asset manager Grayscale have become far more educated in the past decade, managing director Michael Sonnenshein tells The Block on a recent episode of The Scoop.The post As cryptocurrency investors grow more educated, there is growing concern of regulation says Grayscale appeared first on The Block.
Bitcoin treading waters around the $8K threshold: investors are tired of waiting for a rebound and playing tug-of-war. Bears are set to open champagne if Bitcoin breaks below support at $7,800, where BTCUSD has been unfolding to growth since late September. Company Grayscale Investments reported a very successful quarter.
Cryptocurrency exchange KuCoin’s derivatives platform, KuMEX, is going to launch bitcoin monthly futures contracts in a “few weeks.”Michael Gan, founder and CEO of KuCoin, announced the news at the Blockchain Life 2019 Forum in Moscow, Russia, according to a press release shared with The Block on Wednesday.The post KuCoin’s derivatives platform launching bitcoin monthly futures in ‘few weeks’ appeared first on The Block.
It’s back into the red early, with the pair needing to move through key levels to avoid heavier losses on the day.
16 Oct, 2019
Bitcoin was the first cryptocurrency, being introduced to the world by the anonymous developer or group of developers that go by the name Satoshi Nakamoto. BTC has had a long history of ups and downs, some of which were quite good for the community as it allowed folk to further accumulate additional Bitcoin. Others, however, almost destroyed the original crypto. Today I aim at looking at some of the toughest bugs Bitcoin developers had to deal with, why did they happen, what went wrong and how they were mitigated. I will do my best to keep things simple and not technical. Ready to hear some of the most disturbing stories surrounding Bitcoin? How bugs happen Software is created through scripts.The post The bugs that almost killed Bitcoin appeared first on Coin Rivet.
One of the world's largest chid porn rings has been busted by US and Korean authorities after they followed a series of Bitcoin transactions. The US issued an indictment against Jong Woo Son, who is accused of operating a darknet market that accepted Bitcoin in return for more than one million videos of child pornography. Following the site's closure in March 2018, there has been a global crackdown with more 300 users of the site being arrested in 11 countries including the UK, Germany, Brazil and Saudi Arabia. Bloomberg also revealed that at least 23 victims have been rescued in the US, UK and Spain. The use of cryptocurrencies including Bitcoin has been key to the investigation as users ofThe post US authorities bust global child porn ring after following Bitcoin trail appeared first on Coin Rivet.
U.S. and Korean authorities have taken down one of the world's largest online marketplace for child pornography, according to an unsealed indictment first cited by NBC News.The post Feds take down one of the largest child exploitation sites; seeks to seize bitcoins appeared first on The Block.
The Facebook executive behind the Libra blockchain project says its developers are designing the cryptocurrency under the assumption that it could grow large enough to present risks to the economy.
Blockchain analytics firm CipherTrace has added support for over 700 digital assets, including bitcoin cash (BCH), ether (ETH), litecoin (LTC) and stablecoin tether (USDT), to its platform.The post CipherTrace adds support for over 700 crypto assets, including bitcoin cash, ether and tether appeared first on The Block.
15 Oct, 2019
Binance has kept the cryptocurrency industry on its toes with a flurry of announcements this year.  Based on rough math, the cryptocurrency exchange has made more than 20 announcements of new offerings and strategic developments during the second half of the year, making a headline almost every 10 days. The post Behind Binance's 20+ news announcements in H2 2019 lies a deep ambition to regain lost markets and snatch a new one appeared first on The Block.
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EUR/USD news

While China’s economy slowed in the 3rd quarter, things could have been much worse. Relief all round as focus now shifts to Brexit…

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18 Oct, 2019 / 02:32

The Euro rallied significantly during the trading session on Thursday again, perhaps in hopes of a Brexit deal finally coming to light. However, we are still within the range between the 50 day EMA and the 200 day EMA, where the market has found sellers for 18 months.

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17 Oct, 2019 / 15:37

Recent rotation in multiple foreign currencies hints at the fact that a new stage of the “Capital Shift” process is taking place and that skilled technical investors need to pay very close attention to how these currencies continue to react over the next 3 to 6+ months. In the recent past, most of the world’s foreign currencies were declining in value while the US Dollar continued to strengthen. In fact, we authored many research articles about these trends and how weakness in foreign currencies will drive new foreign investment into the US stock markets for two simple reasons; strength and security.

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17 Oct, 2019 / 15:29

Based on the early price action and the current price at 1.1113, the direction of the EUR/USD the rest of the session on Thursday is likely to be determined by trader reaction to a pair of Gann angles at 1.1117 and 1.1119.

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17 Oct, 2019 / 13:12

Investing.com - The U.S. dollar remained tepid on Thursday, while sterling tried to hold onto earlier gains after reports that the U.K. and European Union had reached a Brexit deal.

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17 Oct, 2019 / 10:42

EUR/USD broke to a fresh one-month high as investors see a higher chance of a Brexit deal while US data continues to signal weakness in the economy.

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17 Oct, 2019 / 08:48

The U.S. equity markets were a tad weaker Wednesday, and 10-year bond yields fell as the market s were left interpreting the inconsistent news out of the U.S.: weak retail headlines for September but upbeat earnings report, with Bank of America, reporting growth in investment-banking fees.

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17 Oct, 2019 / 04:52

It’s another busy day ahead for the majors, with Brexit and economic data out of the UK and the U.S the key drivers.

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17 Oct, 2019 / 03:00

The Euro has rallied a bit during the trading session on Wednesday as we continue to consolidate around the technically important 50 day EMA. At this point, the market looks likely to see a lot of confusion, especially as the European Union still deals with Brexit.

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16 Oct, 2019 / 16:36

Based on the early price action, the direction of the EUR/USD the rest of the session on Wednesday is likely to be determined by trader reaction to the downtrending Gann angle at 1.1053 and the Fibonacci level at 1.1055.

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16 Oct, 2019 / 14:33

Investing.com - The U.S. dollar was lower on Wednesday as retail sales fell for the first time in seven months in September, increasing chances of the Federal Reserve cutting interest rates later this month.

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16 Oct, 2019 / 11:04

After briefly dipping lower on Tuesday below the 1.10 handle, EUR/USD has recovered and made another attempt at the 50 DMA, boosted by optimism over an orderly Brexit.

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16 Oct, 2019 / 09:09

It’s a relatively busy day ahead, with corporate earnings, economic data from the Eurozone, UK and U.S and Brexit in focus.

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16 Oct, 2019 / 01:18

The Euro rolled over again during the trading session on Tuesday, showing signs of weakness as the long term trend continues to assert itself, the Euro looks destined to test the lows again.

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15 Oct, 2019 / 15:45

Investing.com - The pound spiked on Tuesday after Bloomberg reported that the U.K. and European Union are close to agreeing on a legal draft of a Brexit deal.

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15 Oct, 2019 / 10:46

After a sharp push higher last week, EUR/USD has fallen into a range below the 50-day moving average.

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15 Oct, 2019 / 09:10

It’s a busy day ahead for the EUR and the GBP, with Brexit chatter and economic data to provide direction…

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15 Oct, 2019 / 03:55

Investing.com -- The British pound took center stage again on Tuesday, rising sharply against the dollar and euro on renewed speculation of a deal to allow the U.K. to leave the EU smoothly at the end of the month.

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15 Oct, 2019 / 03:05

The Euro has done a lot of back-and-forth trading during the session on Monday, as traders are trying to figure out what to do next after the US/China trade talks produce so little. Essentially, we are right where we started.

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14 Oct, 2019 / 16:23

Tesco PLC news

German-owned discount supermarket Lidl GB has vowed to spend 15 billion pounds ($19 billion) with British suppliers over the next five years, commiting to increase sales of local meat, poultry and fresh produce. Lidl and rival Aldi have changed the shape of the UK grocery sector, stealing market share from industry leader Tesco, Sainsbury's, Asda and Morrisons by offering cut-throat prices in no-frills stores. To deepen its relations with British suppliers, Lidl, part of the Schwarz retail group, said it would introduce longer-term contracts with suppliers to help them invest and expand.

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16 Oct, 2019 / 09:08

The charity claims that laborers that supply Whole Foods reported working up to 14 hours a day in “oppressive heat with few rest breaks,” and often with “very limited access to toilets.”

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11 Oct, 2019 / 22:30

By Geoffrey Smith

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04 Oct, 2019 / 05:26

Half Year 2020 Tesco PLC Earnings Presentation

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04 Oct, 2019 / 01:45

When the little known Ken Murphy takes over next year as CEO of Tesco , Britain's biggest retailer, he will inherit something current boss Dave Lewis did not have the luxury of when he joined in 2014 - a strategy and a stable business. When former Unilever executive Lewis became CEO of Tesco on Sept. 1, 2014, the supermarket group was already reeling from a dramatic downturn in trading. Fast forward five years and Lewis, 54, has declared Tesco's turnaround complete.

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03 Oct, 2019 / 15:52

(Bloomberg Opinion) -- In the five years since Tesco Plc was plunged into the biggest crisis in its history, Dave Lewis, its chief executive officer, has executed an (almost) textbook turnaround of Britain’s biggest retailer.He’s now decided that his job is done and he will hand over the reins next year to Ken Murphy of Walgreens Boots Alliance Inc.“Drastic Dave” — a moniker Lewis picked up because of his cost-cutting zeal in a former job at Unilever Plc — took Tesco out of intensive care. He revived sales growth, restored profit, cut debt and reinstated the dividend. The shares are 18% higher than they were back in 2014, when Tesco announced a bombshell 250 million-pound ($307 million) profit black hole. That stock price increase is twice that of the FTSE 100 index.There’s still a vague sense of disappointment, though. One might have expected some Lewis initiatives, such as taking prices closer to those of the German-owned discount grocers Aldi and Lidl, to bear more fruit. While Tesco is managing to grind out incremental growth in an ever-more-competitive market, it’s hard to get too excited by that.Lewis did deliver on his key turnaround target: lifting the company’s operating margin to between 3.5% and 4% six months earlier than expected. So he’s making the wise move for a CEO of going out on a high note.But it’s curious that he didn’t appear to be in the running for two other high-profile CEO posts that have been filled recently, at the consumer goods giants Unilever Plc and Reckitt Benckiser Group Plc. Lewis doesn’t have another job to go to and plans to take some time off before thinking about his next move.The choice of replacement is certainly a surprise. Lewis’s natural successor was Charles Wilson, the popular ex-boss of Booker, which Tesco bought in 2018. However, he stepped back from running Tesco’s British arm last year due to illness. Murphy was joint chief operating officer at Walgreens’ British pharmacy chain Boots before being promoted at the American parent. So he does have experience in the fiercely competitive U.K. retail market.Still, he has no direct experience of the cutthroat grocery sector, which has been transformed by the price-slashing antics of Aldi and Lidl. This is Tesco’s greatest challenge. At least Murphy will benefit from the advice of Wilson, who still has a senior role at Tesco.While the supermarket giant has prospered from the weakness of its great rival J Sainsbury Plc, the latter appears to have gotten its act together lately. And while the British shopper has remained pretty immune to Brexit so far, a no-deal departure from the European Union might change that.It won’t be easy to balance these challenges against an investor base that’s expecting a special dividend or buybacks from next year. Already Tesco’s U.K. sales growth has slowed. That may reflect a broader deceleration across the grocery market, after a strong 2018, but a slowdown is a slowdown. Shareholders are naturally cautious about the management change, although the stock did rise 2% in a falling London market on Wednesday.At least Lewis didn’t hang around beyond his sell-by date, unlike so many other CEOs.To contact the author of this story: Andrea Felsted at afelsted@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

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02 Oct, 2019 / 09:00

Lewis, who said the decision to leave was a personal one, will be succeeded by Ken Murphy, the company said. Murphy brings with him a wealth of commercial, marketing and brand experience within retail and wholesale business, Tesco said.

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02 Oct, 2019 / 06:34

Tesco boss Dave Lewis, credited with saving Britain's biggest retailer from collapse in 2014, will step down next summer after declaring its turnaround complete, handing over to a relative unknown catapulted into one of the sector's top jobs. Celebrating its 100th anniversary, Tesco is five years into a recovery plan launched by Lewis after an accounting scandal capped a dramatic downturn in trading. Successor Ken Murphy, a former executive at healthcare group Walgreens Boots Alliance, will become the second outsider to lead Tesco, following in the footsteps of former Unilever executive Lewis.

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02 Oct, 2019 / 06:22

Tesco boss Dave Lewis, credited with saving Britain's biggest retailer from collapse in 2014, will step down next summer after declaring its turnaround complete, handing over to a relative unknown catapulted into one of the sector's top jobs. Celebrating its 100th anniversary, Tesco is five years into a recovery plan launched by Lewis after an accounting scandal capped a dramatic downturn in trading. Successor Ken Murphy, a former executive at healthcare group Walgreens Boots Alliance , will become the second outsider to lead Tesco, following in the footsteps of former Unilever executive Lewis.

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02 Oct, 2019 / 06:15

By Geoffrey Smith

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02 Oct, 2019 / 05:13

(Bloomberg) -- Tesco Plc is considering a sale of its struggling Polish operations, according to people familiar with the situation, as the U.K.’s largest retailer focuses on its domestic operations and more promising overseas markets.The supermarket operator has begun a review of the Polish arm, according to the people, who asked not to be identified discussing a private matter. The deliberations are at an early stage and the company might decide against a sale, they said.Tesco shares rose as much as 2.3% in London. They’ve risen 29% this year.A Tesco representative declined to comment.With 348 stores as of June, Poland is Tesco’s largest central European business. It has struggled amid intensifying competition, especially in general merchandise, and a reduction in store-opening hours. It had an operating loss of 11 million pounds ($14 million) last year on sales of 1.9 billion pounds.Tesco has been scaling back its overseas presence in recent years, pulling out of the U.S. in 2013 and South Korea two years later. In 2016 it sold a majority stake in the Turkish Kipa chain. In Thailand, however, it’s eyeing 750 new convenience stores in the medium term.Tesco Poland closed 62 stores last year and began shrinking its largest big-box outlets in August, helping it to a small profit in the second half of last year. The company said it was completing the sale of its eight largest so-called hypermarkets in July.In central Europe, Slovakia, Hungary and the Czech Republic have outperformed Poland. Overall, sales in the region fell 2.3% last year.‘A Drag’“Tesco would bite somebody’s hand off if they wanted to buy the Polish business, said Clive Black, head of research at Shore Capital. “It has always been a drag.”It’s not the first time Tesco has considered options in its central and eastern European operations. In 2015 the company considered a regional divestiture, people familiar with the situation said at the time.In the fiercely competitive British market, where retailers have been squeezed by the shift to online shopping and consumer jitters stemming from Brexit, the company has leveraged its size and a purchasing agreement with France’s Carrefour SA to push down costs and shore up profit.Chief Executive Officer Dave Lewis has also agreed to offload the grocer’s home-mortgage portfolio to Lloyds Banking Group Plc. Tesco is set to announce first-half results on Wednesday.(Updates with shares in third paragraph)To contact the reporters on this story: David Hellier in London at dhellier@bloomberg.net;Ellen Milligan in London at emilligan11@bloomberg.netTo contact the editors responsible for this story: Aaron Kirchfeld at akirchfeld@bloomberg.net, Eric PfannerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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27 Sep, 2019 / 14:52

Microsoft Corporation news

Earnings season is well under way, with Wall Street digging into the numbers with the hopes of divining how the stock market will finish a tumultuous 2019. In many ways, this has made the stock market a kind of Rorschach test for bears and bulls—squint hard enough and you see exactly what you want to see. Here are three companies that seemed to win high marks in their recent earnings report that may actually be setting off warning bells, and three more that initially stumbled but could be worth a look.

This year though Dornan decided to try a new sport, one where she’ll have a bigger role — flag football. It’s just fun for me.” Forsyth is one of five counties that signed up this season for the Atlanta Falcons’ girls flag football initiative, which is being funded through the Arthur Blank Family Foundation. The initiative now has 52 high schools, tackling head on the state’s disparity of participation between boys and girls in sports.

18 Oct, 2019 09:00 Yahoo! Finance

A thriving technology scene has been the single biggest driver of that growth, not only adding to the industry's headcount but also bolstering Seattle's appeal on a global scale.

18 Oct, 2019 02:32 Yahoo! Finance

Stocks snuck upwards as small caps surged in recent trading. Big tech still leads as Microsoft looks to break resistance after earnings.

17 Oct, 2019 23:40 Yahoo! Finance

Intel stock has lagged far behind the broader semiconductor industry's 2019 climb. So let's take a look at what to expect from Intel's upcoming Q3 2019 earnings results to see if INTC stock might be set to pop...

17 Oct, 2019 22:56 Seeking Alpha
17 Oct, 2019 22:40 Yahoo! Finance

We recently rolled out several enhancements to Yahoo Finance Premium, and we’re excited to share them with you. These features, along with existing Yahoo Finance Premium features, should help you navigate the volatile markets.

Oregon Senator Rob Wyden introduces a new data privacy bill,known as the Mind Your Own Business Act.

How to trade stocks that have enormous profit potential? Learn to have patience. Count bases. And invest in only the fastest growing firms.

Microsoft stock has moved somewhat sideways over the last three months as it cools off after a stellar first half of 2019. This means that the tech giant's upcoming quarterly earnings results will likely be the next catalyst for MSFT shares...

17 Oct, 2019 21:02 Seeking Alpha

One of Stadia's top engineers claims the cloud-based service will be "faster and feel more responsive" than any console or PC.

This year’s poster child for the stock market’s love of cloud-based enterprise software has to be Zoom Video Communications. Led by a management team sprinkled with Cisco alums, including CEO and founder Eric Yuan and CFO Kelly Steckelberg, Zoom has taken on (CSCO)’ (ticker: CSCO) WebEx, (MSFT)’s (MSFT) Skype, (GOOGL)’s (GOOGL) Google Hangouts, privately held BlueJeans, and a host of other rivals. At the peak, just north of $107, Zoom shares were trading at more than 50 times anticipated revenue for this fiscal year.

Signs of hope for a Brexit deal and U.S.-China trade war updates. Some disappointing U.S. manufacturing and retail data. Q3 earnings results from the likes of Netflix. And why Google parent Alphabet is a Zack Ranks 1 (Strong Buy) stock. - Free Lunch

Software stocks have seen an average pullback of 20% from their 52-week highs, as rich valuations and high ownership interest made them ...

One technology analyst says despite IBM's disappointing third quarter results, its long-term saving grace is its acquisition of Red Hat.

Oracle’s cloud business may be more vulnerable to customers switching to competing systems than some previously thought, Macquarie warns.

Analysts identified their 11 highest-conviction names going into this earnings season, with positive catalysts over the next two months that they predict will send shares higher.

17 Oct, 2019 17:12 Yahoo! Finance

'What is not going to change' is the wise question to ask among managers and investors Continue reading...

17 Oct, 2019 17:11 Yahoo! Finance

Microsoft is set to report earnings next week and investors will be looking for continued strength in cloud revenues, which are key to keeping its stock rising.

The Dow has fallen 8.48 points. With IBM stock down 5.7% at $133.97, it is responsible for subtracting 52.04 points from the blue-chip benchmark.

The Zacks Analyst Blog Highlights: Verizon, Microsoft and Cisco Systems

Cognizant's (CTSH) buyout of Contino is expected to boost its digital engineering processes to design and build customer-centric products.

Zacks.com featured highlights include: Keysight Technologies, Microsoft, Booking Holdings and Lowe???s Companies

17 Oct, 2019 14:15 Seeking Alpha

InvestorsObserver issues critical PriceWatch Alerts for AAPL, BABA, C, MSFT, and NFLX.

17 Oct, 2019 13:16 FinancialContent

These three stocks are in transition, but if they come through this rough period, the gains could be huge.

Strategic partnership accelerates the delivery of ambient technologies to reduce clinician burnout by enabling doctors to focus on patients, while AI focuses on administrative tasks

17 Oct, 2019 12:25 FinancialContent

Price points are a big deal in this space, and Sony's is changing its subscription model for PlayStation Now to better compete.

17 Oct, 2019 12:02 FinancialContent

This new initiative could help Shopify fight off strong challengers.

In its second year, the Female Founders Competition will help accelerate funding for women entrepreneurs globally

16 Oct, 2019 21:32 FinancialContent

A cloud startup founded by a group of four ex-Cisco Systems Inc engineers said on Wednesday it has raised $278 million to fund products that aim to help the data centers of customers like investment banks function more like those of cloud computing providers.

16 Oct, 2019 21:24 FinancialContent

What we learn via watching thousands of occurrence of earnings announcements is stock price movement following earnings is being driven almost exclusively by options markets.

* Indexes down: Dow 0.08%, S&P 500 0.20%, Nasdaq 0.30% (Updates to market close)

The Dow Jones Industrial Average, seeing more warmth in bank stocks, is doing better than the Nasdaq amid a bearish call on the enterprise software field.

With earnings season and trade tensions potentially thawing, there could be reasons to embrace the technology sector from the long side with leveraged exchange-traded funds, such as the ProShares UltraPro QQQ TQQQ.

* Indexes: Dow up 0.07%, S&P 500 off 0.12%, Nasdaq down 0.31% (Updates to late afternoon, changes dateline, byline)

Top tickers for midday: BAC, AAPL, AMD, NFLX, ROKU, FB, MSFT, TSLA, AMZN, CBRE.

Workday Inc. shares were getting crushed Wednesday and dragging on the cloud software space Wednesday after several analysts cut price targets on the stock after the human capital management software company’s analyst day.

Stocks faded back near session lows amid weak retail data and a software drubbing. The Dow Jones industrials held up best as Johnson & Johnson rallied.

16 Oct, 2019 17:16 FinancialContent

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in PNC Financial Services Group (PNC), where a total volume of 13,177 contracts has been traded thus far today, a contract volume which is representative of approximately 1.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 66.2% of PNC's average daily trading volume over the past month, of 2.0 million shares..

16 Oct, 2019 15:45 FinancialContent

Which tech giant is a better long-term investment?

Samsung and Microsoft are hoping foldable phones will drive new growth in a now-less-exciting smartphone market.

16 Oct, 2019 14:25 FinancialContent

In early trading on Wednesday, shares of Johnson & Johnson topped the list of the day's best performing Dow Jones Industrial Average components, trading up 2.3%. Year to date, Johnson & Johnson registers a 5.3% gain.

16 Oct, 2019 13:12 FinancialContent

Arista is a great enterprise hardware company, but the huge gains of the past three years will be hard to replicate.

16 Oct, 2019 12:30 FinancialContent

These tech companies are helping lead the AI charge.

16 Oct, 2019 12:30 FinancialContent

The search giant has unveiled a set of true wireless earbuds, but don't expect to stuff any stockings with them.

U.S. Democratic presidential contender Elizabeth Warren went after big tech during the Democratic debate on Tuesday but brushed off rival Kamala Harris's challenge to join her in calling for President Donald Trump's suspension from Twitter.

Investors in the week ahead will receive an update on durable goods orders, amid recent improvements in consumer sentiment, as well as signals from the financial sector about increased household borrowing.

16 Oct, 2019 00:03 FinancialContent

While FAANG’s other members have maintained their status as leaders in the tech space, reflected by their strong stock returns, Netflix has had to battle slowing subscriber growth, growing debt and a series of new entrants into the industry.

15 Oct, 2019 20:12 FinancialContent

Nvidia stock soared on Tuesday after the graphics chipmaker received a pair of price-target hikes on Wall Street. Meanwhile, Inphi stock reached a buy point ahead of third-quarter earnings.

Money flows can point to opportunities and risks, says Nigam Arora.

15 Oct, 2019 17:48 FinancialContent

Top tickers for midday: JPM, AAPL, BAC, FB, NVDA, AMD, ROKU, MSFT, TSLA, BABA, C, WFC, AMZN, UNH, MU, ACB, BYND, GS, NIO, NFLX.

Key indexes rallied in the stock market today as earnings fueled big gains in the Dow Jones Industrial Average and chips boosted the Nasdaq.

Amazon's cloud computing is like a "soft drug", a French minister said on Tuesday, warning that time was running out for Europe to wean itself off the U.S. company's services.

More competition could make things more challenging for Zoom, but it's not as if the company hasn't faced big threats before.

15 Oct, 2019 15:03 FinancialContent

Corporate earnings are expected to drop, so what should small investors do about it?

InvestorsObserver issues critical PriceWatch Alerts for DAL, MSFT, NFLX, NVDA, and TSLA.

15 Oct, 2019 12:30 FinancialContent

Slack says its users are more engaged than Microsoft's.

Alphabet Inc's Google dominates the growing U.S. search ad market but Amazon.com Inc is growing fast, according to data from the market research company eMarketer released on Tuesday.

Amazon.com Inc's cloud computing arm is making an aggressive push into one of the most sensitive technology sectors: U.S. elections.

14 Oct, 2019 23:53 FinancialContent

IBM is set to report their third-quarter results after the closing bell on Tuesday, October 15th as Q3’s earnings season gets underway this week.

14 Oct, 2019 19:26 Seeking Alpha

Apple Inc. (NASDAQ: AAPL) re-entered the $1-trillion clubOct. 4 thanks to arecord run in the wake of improving fundamentals ...

14 Oct, 2019 18:33 FinancialContent

Home voice assistants have become staples of big technology companies even though the devices are rarely profitable. So why are the Silicon Valley giants investing so much in the tech?

14 Oct, 2019 18:19 FinancialContent

The wrangling between the Beijing regime and the Silicon Valley company dates back years, Tanner Brown observes.

14 Oct, 2019 17:56 FinancialContent

Top tickers for midday: AAPL, TSLA, AMD, BAC, BABA, FB, MSFT, PG, NFLX, T, CGC, BYND, MU, ROKU, AMZN, SNAP, FCX, BBD, NVDA, C.

14 Oct, 2019 16:38 FinancialContent

Apple hit a new all-time high again last week, and on Friday the company managed to close the week with a market cap that was just under $1 billion higher than that of Microsoft.

14 Oct, 2019 16:30 FinancialContent

There are several good reasons that two consecutive quarters of improved personal computer purchases could become three, and then four, or more.

Throughout 2019, the Technology sector has been flying high as the top performing sector. After a tough third quarter, it’s still ...

10 Oct, 2019 18:10 Seeking Alpha
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24 Sep, 2019 17:35 Seeking Alpha

Apple Inc news

18 Oct, 2019 @ 10:52 by Yahoo! Finance

origins disputed but most likely leave-over from the Spanish. Oracabeza , Golden Head, though what gold was here other than light glinting off the bay, other than bananas bursting out from red flowers? ...

18 Oct, 2019 @ 10:30 by FinancialContent

The streaming wars are about to heat up.

The chip manufacturing giant issued strong Q4 sales guidance, offered upbeat remarks about 2020 5G phone demand and hiked its capital spending budget.

Apple Inc CEO Tim Cook met the chief of China's market regulator in Beijing on Thursday, the Chinese agency said, a week after the U.S. firm was thrust into the midst of political tensions between the mainland and protesters in Hong Kong.

18 Oct, 2019 @ 03:00 by Yahoo! Finance

Samsung has achieved something that Tim Cook, chief of its arch-rival Apple, has suggested would be all but impossible: it has moved its smartphone manufacturing out of China.  At the end of last month, ...

18 Oct, 2019 @ 02:40 by FinancialContent

China's market regulator chief Xiao Yaqing met with Apple Inc's Chief Executive Tim Cook in Beijing on Thursday, the regulator said on Friday.

(Bloomberg) -- Taiwan Semiconductor Manufacturing Co.’s plan to spend as much as $15 billion on technology and capacity in 2019 -- roughly 50% higher than originally envisioned -- is spurring hopes that the dawn of fifth-generation networks will rev up global chip and smartphone demand.The primary chip supplier to Apple Inc. told investors it’s sharply increasing its estimate for 2019 capital expenditure to between $14 billion to $15 billion from as much as $11 billion previously, and Chief Financial Officer Wendell Huang said 2020 spending will be similar. The Taiwanese company also projected current-quarter revenue ahead of estimates, an affirmation that the latest iPhones have proven a hit with consumers.Chief Executive Officer C. C. Wei sketched out hopes that the emergence of 5G, the foundation of future technologies from automated factories and smart homes to blazing-fast consumer electronics, will help underpin its business in coming years. TSMC, which is the world’s largest contract chipmaker, and is seen as a barometer for the tech industry thanks to its heft and place in the supply chain, said the advent of 5G-enabled smartphones will result in more chips in devices than before.“We are much more optimistic than six months ago,” Wei said, adding that the 5G momentum was larger than the company expected. TSMC has increased its forecast of the 5G smartphone penetration rate in 2020 to a percentage in the mid-teens from its previous single-digit estimate. Many countries, especially larger ones, were rapidly pushing ahead with 5G rollout plans, Wei added.TSMC Puts All Its Chips on Capex. That’s a Smart Bet: Tim CulpanTSMC’s capital spending plan and outlook prompted price-target hikes from several analysts including at Goldman Sachs and Morgan Stanley. Its shares, which notched a lifetime high just this month, stood largely unchanged Friday in Taipei. More broadly, suppliers including ASML Holding NV, Applied Materials Inc. and Tokyo Electron Ltd. could stand to benefit from TSMC’s capex increase.In addition to 5G, TSMC’s push is driven by growing demand from tech giants such as Apple and Huawei Technologies Co., said Roger Sheng, a semiconductor analyst with Gartner. Although the outlook remains uncertain for 2020, the global semiconductor market is set to make a gradual recovery on the back of the demand related to 5G, AI and automotive applications, according to a note from TrendForce on Oct. 2.“Everyone is waiting to see a bounce back of global smartphone market next year after Apple adopts 5G. The self-designed Huawei chipsets will also push demand, as will Qualcomm’s 5nm chips for next year and AMD’s server chip demand,” Sheng said.On Thursday, TSMC also underlined expectations that Apple, its largest customer, is riding a bounce-back in demand for the iPhones after a lukewarm 2018 iteration. Lower prices and aging handsets are helping drive demand for the iPhone 11 range, and Apple is said to be asking its assemblers to target the high end of an original forecast for 70 million to 75 million unit shipments in 2019.Read more: Apple’s Lower Prices, Users’ Aging Handsets Drive IPhone DemandThe Taiwanese company foresees revenue of $10.2 billion to $10.3 billion in the pivotal December holiday quarter, surpassing an average projection for about $9.9 billion. TSMC gave that sales outlook after reporting net income of NT$101.1 billion ($3.3 billion) for the September quarter, handily beating estimates as the global chip market recovers.Still, fallout from ongoing trade conflicts could crimp an industry revival. While TSMC doesn’t factor trade conflicts into its capex plans, any international trade war will have a negative effect on the semiconductor sector, Wei said. China is an especially important market for TSMC and the semiconductor industry, he added.TSMC and its industry peers had grappled with a plateauing smartphone market, efforts by Apple to move beyond hardware, and U.S. tech-export curbs on No. 2 customer Huawei. But investors are growing more confident that the emergence of 5G will prop up chip prices and demand, while the latest iPhones are firing up consumers. TSMC is in fact straining against capacity constraints in the current quarter, Sanford C. Bernstein analyst Mark Li said.The “iPhone is driving stronger near-term demand. We believe the competitive pricing of iPhone 11 is garnering good traction and has prompted Apple to place more orders at the supply chain,” Li said in an Oct. 10 note.Read more: Taiwan’s Market Fortunes Are Tied to TSMC Like Never Before(Updates with analysts’ hikes and shares from the fifth paragraph)To contact the reporters on this story: Debby Wu in Taipei at dwu278@bloomberg.net;Gao Yuan in Beijing at ygao199@bloomberg.netTo contact the editors responsible for this story: Peter Elstrom at pelstrom@bloomberg.net, Edwin Chan, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

17 Oct, 2019 @ 23:10 by FinancialContent

Apple expert Leander Kahney offers up some theories; also, we offer some updates on the market this week.

17 Oct, 2019 @ 22:40 by Yahoo! Finance

We recently rolled out several enhancements to Yahoo Finance Premium, and we’re excited to share them with you. These features, along with existing Yahoo Finance Premium features, should help you navigate the volatile markets.

17 Oct, 2019 @ 22:34 by Yahoo! Finance

The streaming pioneer and secure leader of the space may not maintain that security for long.

HBO Max, the forthcoming streaming service from AT&T Inc's WarnerMedia, will screen films from Studio Ghibli, the Japanese animation producer behind the Academy Award-winning movie "Spirited Away".

Futures: The stock market rally has made impressive gains, but can the indexes hit all-time highs? Atlassian and Intuitive Surgical were key earnings movers late.

Microsoft stock has moved somewhat sideways over the last three months as it cools off after a stellar first half of 2019. This means that the tech giant's upcoming quarterly earnings results will likely be the next catalyst for MSFT shares...

17 Oct, 2019 @ 22:00 by Yahoo! Finance

(Bloomberg Opinion) -- Investors looking for signs that the worst is over for the chip sector would be pleased by what Taiwan Semiconductor Manufacturing Co. served up Thursday. All of its key earnings data point to a rebound in demand, and more importantly to pragmatic inventory management after a glut last year dragged down the entire industry. TSMC’s third-quarter net income beat estimates and its fourth-quarter revenue outlook came in at the top of analysts’ expectations. But the standout headline from the company’s investor conference was its decision to boost its capital expenditure this year by close to 40%. By the end of September it had already shelled out $9.4 billion of the “more than” $11 billion it had previously expected for the full year.That may seem like a brave wager, considering a deepening trade war on two fronts — between the U.S. and China, as well as Japan and South Korea — and President Donald Trump’s campaign against TSMC’s key client, Huawei Technologies Co. Just months ago, shoppers were eschewing futuristic gadgets and putting off smartphone upgrades. But TSMC has rarely made mistakes about how to spend its capex: This plan is not only bold but smart. The world’s biggest chipmaker plans to spend a record-breaking $14 billion to $15 billion this year on the leading-edge equipment it needs to manufacture chips for devices such as Apple Inc. iPhones and Huawei’s smartphones. The company turned more aggressive, CEO C.C. Wei explained, because it sees stronger-than-expected demand for next-generation manufacturing technologies. These chips will be used in smartphones, data centers, IoT devices (think Amazon Alexa) and even cars, he said. Wei said he’s confident that the higher spending will be justified by quicker revenue growth, especially with faster fifth-generation mobile networks and handsets ready to go mainstream in the coming year. Because of the technology involved, 5G networks require more base stations than an equivalent 4G rollout, which will further help semiconductor sales.What should really cheer investors, though, are the figures that often get overlooked, namely inventory. One of the biggest problems afflicting the sector a year ago was that companies — from Apple to PC-chipmaker Intel Corp. and iPhone assembler Foxconn Technology Group — all overshot the mark when it came to buying and building chips, only to be met with lackluster demand from consumers.TSMC’s inventory, measured in Taiwan dollars, fell by 8.2% in the September quarter, the biggest drop in more than two years. Days of inventory — another measure that tracks its stockpiles — dropped to 65 days, the lowest in 18 months. This shows that there’s a smaller risk that TSMC and its clients got ahead of themselves this time. Before celebrating a new dawn for the tech sector, there is a caveat. More sales for TSMC doesn’t necessarily mean more devices being sold to end consumers. That’s because smartphones are becoming even smarter, requiring more chips inside. High-end cameras, for example, require higher-resolution sensors, which in turn means more chips within a phone to manage the power, data and memory that such functionality requires. That said, investors looking for an excuse to jump back into tech shares got exactly what they needed from TSMC. If not signs of stronger demand, evidence of pragmatic inventory management makes it look like a safer sector to place a bet.To contact the author of this story: Tim Culpan at tculpan1@bloomberg.netTo contact the editor responsible for this story: Rachel Rosenthal at rrosenthal21@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

17 Oct, 2019 @ 21:34 by Yahoo! Finance

The broader markets were subdued today. However, tech stocks Datadog (DDOG), Roku (ROKU) and Fitbit (FIT) gained significantly. Here's why.

The buzz over “baby-face” filters has faded, so Snap Inc. will be looking to prove that it’s grown up.

Missouri Republican Senator Josh Hawley tells Yahoo Finance's On the Move that Beijing is the biggest security threat to this country in the 21st century

Analysts are divided about demand for the new phones. Wedbush’s Daniel Ives says his research indicates sales are better than expected in China.

17 Oct, 2019 @ 20:07 by Yahoo! Finance

(Bloomberg Opinion) -- The New Yorker and the Atlantic have never been known for their business coverage, so when both magazines published long articles about Amazon.com Inc. in their current issues it signaled that something is in the air. That something is antitrust.More precisely, what’s in the air is the question of what the government should do to rein in the tremendous power of the big four tech companies: Facebook Inc., Alphabet Inc.’s Google, Apple Inc. and Amazon.Once the province of think tanks and law reviews, this topic has become such a public concern that 48 of the 50 state attorneys general are conducting antitrust investigations, presidential hopefuls are calling for tech giants to be broken up, and general interest magazines like, well, the New Yorker and the Atlantic are asking whether the companies abuse their market power. In this particular case, the magazines are asking it about Amazon.The Atlantic article is by Franklin Foer, who has long raised concerns about Big Tech. Five years ago, for instance, he wrote a cover story for the New Republic titled “Amazon Must Be Stopped.” It focused on Amazon’s dominance over the book business.This time around, he is writing about the unbridled ambition of Amazon’s founder and chief executive officer Jeff Bezos. (The new article is “Jeff Bezos’s Master Plan.”) “Bezos’s ventures are by now so large and varied that it is difficult to truly comprehend the nature of his empire, much less the end point of his ambitions,” Foer writes. He then goes through a list. Bezos wants to conquer space with his company Blue Origin. Bezos’s ownership of the Washington Post makes him a significant media and political figure. Bezos’s brainchild, Amazon, “is the most awe-inspiring creation in the history of American business.” And so on.He also points out that while critics fear Amazon’s monopoly power, the company is loved by consumers. “A 2018 poll sponsored by Georgetown University and the Knight Foundation found that Amazon engendered greater confidence than virtually any other American institution,” he writes. I have no doubt that this is true; Amazon’s obsession with customer service instills tremendous loyalty among consumers. It’s no accident that over 100 million people now pay the company $119 a year to be Amazon Prime members. That loyalty is also one reason taking antitrust actions against Amazon would be much more difficult than going after Facebook or Google. I’ll get to some other reasons shortly.Charles Duhigg’s New Yorker article “Is Amazon Unstoppable?” is both smarter about Amazon and more pointed about its power. Duhigg captures its relentless culture, comparing it to a flywheel that never stops. He described Bezos’s efforts to ensure that Amazon never loses the feel of a scrappy startup. The phrase that came to mind as I was reading Duhigg’s article was Andy Grove’s famous dictum: “Only the paranoid survive.”Duhigg is also interested in what Amazon’s critics have to say. Amazon pays no U.S. taxes. Amazon’s work culture makes it nearly impossible for women who want children to have long careers there. Amazon’s warehouse workers are sometimes fired after being injured on the job. Amazon looks the other way when counterfeit goods are sold on its site. (In the article, Amazon’s representatives deny these allegations.)Then there’s the fact that Amazon both serves as a platform for companies wanting to sell things and sells things itself. In other words, it competes with the same companies it enables. According to Duhigg, Amazon has been known to track items that do well, and then make its own version of the same item — which it then sells at a discounted price. (Amazon denies this, too.) Margrethe Vestager, the European Union’s commissioner for competition, told Duhigg that the practice “deserves much more scrutiny.”The story’s killer anecdote, at least as it concerns antitrust, is about Birkenstock USA LP’s experience with Amazon. Although Birkenstock sold millions of dollars of shoes using the Amazon platform, it was constantly hearing customer complaints that the shoes were defective. Why? Because, according to Birkenstock, Amazon allowed counterfeits to be sold on the site. Not only would Amazon not take down the counterfeit goods, but it also wouldn’t even tell Birkenstock who was selling them.Amazon also had stocked a year’s worth of Birkenstock inventory, which terrified the company. “What if Amazon decides to start selling the shoes for 99 cents, or to give them away with Prime membership, or do a buy-one-get-one-free,” wondered Birkenstock’s chief executive officer, David Kahan. “We were powerless.”Kahan’s complaints went nowhere. So he pulled Birkenstocks off Amazon. What did Amazon do? It solicited Birkenstock retailers, offering to buy shoes directly from them. Today, if you search for Birkenstocks on Amazon you’ll be deluged with choices even though the company itself refuses to do business with Amazon. I found a pair of Arizona oiled leather sandals — listed on Birkenstock's website for $135 — marked down to $60 on Amazon. Is it the real thing, or is it a counterfeit?The hard question: What do you do about this kind of behavior? On one extreme is the Democratic presidential candidate Senator Elizabeth Warren, who believes the most appropriate solution is to break up Amazon. At the other end of the spectrum, there are still plenty of antitrust economists who believe that if a $135 sandal is being sold for $60, that’s good for consumers. They argue that the government should just stay out of the way.I’m a proponent of breaking up Facebook, mainly because I believe if you force it to disgorge two of its prized platforms, Instagram and WhatsApp, you’ll instantly create serious competitors. That could help raise the bar on privacy, data usage and other concerns. But I’m not sure that would work with Amazon.For instance, if Amazon had to separate its highly profitable cloud service, Amazon Web Services, from its retail business the power dynamic between Amazon and the companies that use its platform would remain.What’s more, it’s harder to make a classic antitrust case against Amazon than it is against Facebook and Google. According to the research firm EMarketer Inc., Amazon is expected to account for 37.7% of all online commerce in 2019. By contrast, Google controls 89% of the search market.Still, for too many retailers, Amazon has the power to control their destiny, for good or ill. As the antitrust activist Lina Khan wrote in her now-famous 2017 article in the Yale Law Journal: “History suggests that allowing a single actor to set the terms of the marketplace, largely unchecked, can pose serious hazards.” I take that assessment to mean that government intervention at Amazon is needed.To my mind, the simplest and most sensible solution is from the economist Hal Singer: Don’t allow platform companies to favor their own products over competitors’ products. Singer calls this a “nondiscrimination regime,” and models it after the Cable Television Consumer Protection and Competition Act, which prevents cable distributors from favoring their own content over content from competitors. In that scenario, a company that felt it was being discriminated against by Amazon could bring a complaint to federal regulators just as cable stations can do now. This regime has worked well for the TV industry. It could work for Amazon, too.Secondly, the government should hold Amazon accountable for counterfeits. Counterfeiting is against the law, and although Amazon told Duhigg that it spends “hundreds of millions of dollars” on anti-counterfeiting efforts it’s no secret that many deceptively labeled goods are still sold on the site. (See, for instance, this recent Wall Street Journal story.) Companies like Birkenstock have a right to expect that a platform selling its products will rigorously police counterfeits — and will identify counterfeiters so manufacturers of authentic goods can take legal action.These are solvable problems. They don’t require extreme measures. What they do require is a government with the will to transform Amazon’s platform from what it is now, a vehicle that squelches competition, to one that lets competition flower.(Corrects paragraphs 12 and 13 to accurately reflect pricing disparities between sandals sold on Birkenstock's website and those sold on Amazon.)To contact the author of this story: Joe Nocera at jnocera3@bloomberg.netTo contact the editor responsible for this story: Timothy L. O'Brien at tobrien46@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Joe Nocera is a Bloomberg Opinion columnist covering business. He has written business columns for Esquire, GQ and the New York Times, and is the former editorial director of Fortune. His latest project is the Bloomberg-Wondery podcast "The Shrink Next Door."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

17 Oct, 2019 @ 20:02 by Yahoo! Finance

TSM share prices were less than a percentage ppoint lower after reporting encouraging third-quarter results and fourth-quarter guidance.

17 Oct, 2019 @ 19:44 by Yahoo! Finance

A low-cost iPhone is on the way, according to the rumor mill, and we take a look at how the Google Pixel 4 compares with the iPhone 11. Plus, is Apple working on a smart ring?

The typical Facebook employee stays with the company for just over 2.5 years, a Business Journal analysis shows. This is how that compares to other large Silicon Valley tech employers, like Cisco, Apple and Intel.

Signs of hope for a Brexit deal and U.S.-China trade war updates. Some disappointing U.S. manufacturing and retail data. Q3 earnings results from the likes of Netflix. And why Google parent Alphabet is a Zack Ranks 1 (Strong Buy) stock. - Free Lunch

A deeper look reveals a different story for six companies, says Jeff Reeves.

17 Oct, 2019 @ 15:41 by FinancialContent

Subscription video-on-demand leader Netflix appeared to calm jittery investors with its better-than-expected third-quarter earnings report. Netflix stock rose on the news Thursday.

17 Oct, 2019 @ 15:31 by FinancialContent

Symbols mentioned in this story: VGT, AAPL, V, MA Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand..

17 Oct, 2019 @ 15:15 by FinancialContent

While fiscal Q4 is important, the first quarter usually accounts for about a third of the company's annual revenue.

U.S. investors have brushed off geopolitical tension between the U.K. and the European Union.

Round two of the WeTrader Competition, hosted by the zero-commission online trading platform Webull, is quickly approaching its end at ...

17 Oct, 2019 @ 15:06 by FinancialContent

Fitbit Inc is developing a method to detect irregular heart rhythm in time through a partnership with Bristol-Myers Squibb-Pfizer Alliance, as the wearable device maker looks to match a feature available on rival Apple Inc's Watch.

Sentons, a startup led by chip industry veterans, on Thursday began marketing technology that aims to do away with gadget buttons and said it is working with two smartphone makers in addition to an existing contract with Asus Computer Inc.

Consumers already have too many subscriptions to remember.

The major stock indexes rallied squarely higher early Thursday as a Brexit deal seemed within reach. Netflix soared 7% on earnings.

17 Oct, 2019 @ 14:05 by FinancialContent

Investors have something to cheer about this morning in addition to an encouraging start to earnings season. News that Britain and ...

PayPal Holdings said its Venmo money-transfer service will launch a credit card in 2020, joining Apple as a new entrant.  PayPal will partner with Synchrony Financial. PayPal stock climbed.

InvestorsObserver issues critical PriceWatch Alerts for AAPL, BABA, C, MSFT, and NFLX.

Wall Street cheered a rebound in Netflix subscribers in the third quarter, driving shares in the firm 9% higher on Thursday even as analysts warned conservative estimates for the next three months may be a hint of less certain times ahead.

17 Oct, 2019 @ 12:05 by FinancialContent

Nomura boosted the price target on Netflix Inc (NASDAQ: NFLX) from $310 to $330. Netflix closed at $286.28 on Wednesday. Goldman ...

17 Oct, 2019 @ 11:56 by FinancialContent

Wall Street cheered a rebound in Netflix subscribers in the third quarter, driving shares in the firm 9% higher on Thursday even as analysts warned conservative estimates for the next three months may be a hint of less certain times ahead.

17 Oct, 2019 @ 11:31 by FinancialContent

Take a look beyond the headline numbers at where the streamer stands at this pivotal moment.

17 Oct, 2019 @ 11:26 by Seeking Alpha

Taiwan Semiconductor Manufacturing, known as TSMC, beat Wall Street's targets for the third quarter and guided higher for the fourth quarter. The TSMC earnings report drove its stock up.

Our chart and call of the day from Ciovacco Capital Management’s Chris Ciovacco looks at a batch of historical charts that are pointing to more gains for stocks. That is, if those animal spirits can return.

Apple Inc supplier TSMC raised its 2019 capital spending plan by up to $5 billion on Thursday and forecast a nearly 10% rise in fourth-quarter revenue on strong demand for faster mobile chips and new high-end smartphones.

17 Oct, 2019 @ 09:03 by FinancialContent

Tamp down your range anxiety with any of these electric vehicles—all eligible for a $7,500 federal tax credit.

* Q3 revenue up 10.7% from a year ago (Recasts with capex details, Q4 forecast)

One aids everyone who’s able to work, while the other benefits everyone, except at a big cost.

17 Oct, 2019 @ 00:48 by FinancialContent

The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Netflix Inc added slightly more paying subscribers than Wall Street expected in the third quarter, a relief to investors who had worried the company might fall short just as Disney and Apple prepare to ramp up the streaming video wars.

Netflix Inc. has been dismissive of the anticipated impact of an onslaught of streaming competitors, but as a wave of well-financed streaming services from big-name companies is about to be unleashed, executives’ tone has changed.

16 Oct, 2019 @ 22:52 by FinancialContent

Streaming media giant Netflix rocketed more than 8% higher in after-hours trading Wednesday after the company released its earnings report for Q3. The company reported mixed results, with an earnings success and a miss on domestic subscriber adds, while revenue slightly missed analysts’...

16 Oct, 2019 @ 22:12 by FinancialContent

The streaming-TV giant's revenue and profits are soaring.

Netflix Inc added slightly more paying subscribers than Wall Street expected in the third quarter, a relief to investors who had worried the company might fall short just as Disney and Apple prepare to ramp up the streaming video wars.

Dow Jones futures: The stock market rally showed resilience Wednesday. Netflix soared late on earnings despite missing on subscribers again. IBM, Alcoa and CSX were big earnings movers too.

16 Oct, 2019 @ 21:48 by Seeking Alpha
16 Oct, 2019 @ 21:24 by FinancialContent

What we learn via watching thousands of occurrence of earnings announcements is stock price movement following earnings is being driven almost exclusively by options markets.

Netflix Inc added slightly more paying subscribers than Wall Street expected in the third quarter, a relief to investors who had worried the company might fall short just as Disney and others prepare to ramp up the streaming video wars.

Netflix Inc added slightly more paying subscribers than Wall Street expected in the third quarter but issued a soft forecast on Wednesday as it faces new competition from Walt Disney Co and other big companies in the streaming video wars.

Netflix Inc. announced the net addition of 6.77 million paying subscribers in its third-quarter financial results Wednesday afternoon, an about-face from the previous quarter, when it came up frighteningly short.

16 Oct, 2019 @ 19:00 by FinancialContent

With earnings season and trade tensions potentially thawing, there could be reasons to embrace the technology sector from the long side with leveraged exchange-traded funds, such as the ProShares UltraPro QQQ TQQQ.

U.S. retail sales fell for the first time in seven months in September, suggesting that manufacturing-led weakness could be spreading to the broader economy, keeping the door open for the Federal Reserve to cut interest rates again later this month.

16 Oct, 2019 @ 18:37 by FinancialContent

Top tickers for midday: BAC, AAPL, AMD, NFLX, ROKU, FB, MSFT, TSLA, AMZN, CBRE.

U.S. retail sales fell for the first time in seven months in September, suggesting that manufacturing-led weakness could be spreading to the broader economy, keeping the door open for the Federal Reserve to cut interest rates again later this month.

16 Oct, 2019 @ 15:03 by FinancialContent

Hardware is a small but important catalyst for the online search giant.

S&P 500 futures are trading slightly lower today, but nothing that is significant.

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