News

Technology

AP News | Equities.com |

Wall Street’s rally got back on track Wednesday after more gains for big technology stocks helped pull the S&P 500 to its sixth gain in seven days.

It came after a jumbled day of trading, where the S&P 500 drifted up and down a few times before a last-hour lift sent it to a gain of 0.8%. Treasury yields and oil prices also ticked higher, but caution continued to hang over markets as gold touched its highest price since 2011.

The Dow Jones Industrial Average rose 177.10 points, or 0.7%, to 26,067.28, and the Nasdaq composite gained 148.61, or 1.4%, to 10,492.50 to set another record. The S&P 500, which more index funds benchmark themselves against, rose 24.62 to 3,169.94 and is back within 6.4% of its record.


AP News | Equities.com |

The Silicon Valley data-mining firm Palantir Technologies confidentially filed to go public, setting up what could be the biggest stock offering from a technology company since Uber’s debut last year.

Founded in 2004 by investors including Peter Thiel, the company works with governments, law enforcement agencies and the defense establishment to organize and analyze huge volumes of data. The technology can be used to disrupt terrorist networks or battle human trafficking. Most recent...


Reuters | Equities.com |

Samsung Electronics Co Ltd flagged a 23% rise in second-quarter operating profit on Tuesday, beating analysts’ estimates on solid chip sales to data centers catering for a work-from-home economy during the novel coronavirus pandemic.

The sales offset weak demand for smartphones and televisions, while one-off gains from its display business, which counts Apple Inc. as a customer, also boosted profits, the company said. It gave no further details.

The world’s top memory-chip and smartphone maker said operating profit was likely 8.1 trillion won ($6.8 billion) in the quarter that ended in June, far above the 6.4 trillion won analyst forecast by Refinitiv SmartEstimate. It would be the highest quarterly profit since the fourth quarter of 2018.


Reuters | Equities.com |

Secretary of State Mike Pompeo said on Monday that the United States is “certainly looking at” banning Chinese social media apps, including TikTok, suggesting it shared information with the Chinese government, a charge it denied.

“I don’t want to get out in front of the President (Donald Trump), but it’s something we’re looking at,” Pompeo said in an interview with Fox News.

U.S. lawmakers have raised national securi...


Reuters | Equities.com |

(Reuters) - Amazon.com Inc has agreed to pay over $1 billion to buy self-driving startup Zoox Inc, according to a report by The Information, citing sources, in a move that would expand the e-commerce giant’s reach in autonomous-vehicle technology. The report did not mention the exact purchase price and added Amazon is unlikely to disclose it when the deal is announced, likely to be on Friday. A majority of Zoox investors are getting their money back, with some making a positive return, the r...


AP News | Equities.com |

TOKYO (AP) — Masayoshi Son, the chief executive of Japanese technology company SoftBank Group Corp., said Thursday that he is stepping down from the board of Chinese e-commerce giant Alibaba.Son announced the change at the end of SoftBank’s general shareholders’ meeting. He emphasized that the decision was a “happy” one and did not reflect any discord between the companies.Last month, Alibaba founder and Chinese billionaire Jack Ma left SoftBank’s board.Son said he was “graduating


Reuters | Equities.com |

SHANGHAI (Reuters) - U.S. curbs on Chinese tech firms amid the intensifying Sino-U.S. battle for tech supremacy are feeding an investment boom across China’s semiconductor industry, driving prices of both publicly traded and venture-backed companies into bubble territory. Investors have pushed the share prices of the country’s 45 listed chipmakers to over 100 times the companies’ earnings, making semiconductors the priciest sector in the stock market. ...


Reuters | Equities.com |

WASHINGTON (Reuters) - The U.S. National Highway Traffic Safety Administration (NHTSA) said Tuesday it had opened an investigation into 63,000 Tesla Model S cars after reports of media-control unit failures that led to the loss of the use of touchscreens. The auto safety agency said the preliminary evaluation, covering 2012-2015 model year vehicles, comes after it received 11 complaints alleging premature failure of the media-control unit due to memory wear-out. A compl...


AP News | Equities.com |

A Black man who says he was unjustly arrested because facial recognition technology mistakenly identified him as a suspected shoplifter is calling for a public apology from Detroit police. And for the department to abandon its use of the controversial technology.The complaint by Robert Williams is a rare challenge from someone who not only experienced an erroneous face recognition hit, but was able to discover that it was responsible for his subsequent legal troubles.The Wednesday...


Reuters | Equities.com |

(Reuters) - Microsoft Corp on Tuesday set a five-year diversity goal to address racial inequality at its offices, following protests over police brutality against African Americans in the United States.The company said it will add another $150 million in diversity and inclusion investment to double the number of Black and African-American people managers, senior individual contributors, and senior leaders in the United States by 2025.The death of George Floyd at the hands of Minneapolis police t...