Technology news

The U.S House of Representatives called on Amazon’s (NASDAQ: AMZN) CEO, Jeff Bezos, at the start of May to testify about allegations on the company regarding its use of 3rd party sellers’ data. In a blog post on Friday, Amazon highlighted that it will send an appropriate executive to testify to the Judiciary Committee. Shares of the company were reported a little over 25% up year to date in the stock market at the end of the regular trading sessi...

Apple Inc. (NASDAQ: AAPL) has been committed to expanding its presence in the virtual and augmented reality sector. In its announcement on Thursday, the company said that it is moving forward with its plans as it purchased the virtual reality (VR) startup, NextVR. The U.S tech giant seeks to add a new product category to its portfolio that will offer gadgets based on virtual and augmented reality technologies. Apart from AR (augmented reality) so...

The Coronavirus pandemic has brought the global auto industry to a near halt. Car manufacturers from across the globe have reported COVID-19 to have weighed on performance in recent months. Despite challenges and delays in other projects due to the ongoing health crisis, however, Volkswagen (ETR: VOW) and Ford Motor (NYSE: F) announced on Friday that the companies plan on teaming up to build electric and autonomous vehicles. Volkswagen was report...

BT Group (LON: BT.A) said on Thursday that it is negotiating with infrastructure investors to sell its stake in Openreach. BT currently has a multi-billion-pound investment in the network subsidiary. The raised funds from the sale of its wholly-owned subsidiary, the company added, will be used to expand its presence in the UK’s full-fibre broadband network. The announcement came on top of BT’s decision to suspend its dividend last week in a bid t...

Deutsche Telekom (ETR: DTE) released its quarterly financial results on Thursday that posted upbeat revenue and profit for the first quarter. The company attributed its success to growth in both of its primary markets, Germany and the United States. The German company reported its net profit in Q1 at £810.65 million that came in stronger than £796.50 million in the same quarter last year. In terms of adjusted earnings before interest, taxes, depr...

In a statement on Wednesday, Intel Capital announced to have made investments in two Chinese semiconductor startups. Intel Corp. (NASDAQ: INTC) is currently struggling with the ongoing tensions between the U.S and China in the sector of chip manufacturing.    As per the sources, Intel Capital made its first investment in Chinese ProPlus that makes EDA software. The tool is widely used by the global chipmakers to design products before m...

Sony Corp. (TYO: 6758) said on Wednesday that it estimates its operating profit to see a 30% decline in the current fiscal year that started in April that will mark a 4-year low for the company. Sony attributed its downbeat outlook to the Coronavirus pandemic that is weighing heavily on demand for its cameras, television sets, and smartphone image sensors. The company further added that government-imposed lockdowns have resulted in unparalleled d...

Tencent Holdings (HKG: 0700) released its quarterly financial results on Wednesday that topped analysts’ estimates for earnings and revenue. The company attributed its success to a strong demand for its gaming business. Tencent’s advertising and financial technology segments also reported stronger than expected results in the first quarter. Experts had forecast the company to print £11.61 billion in revenue in the first quarter. In terms of profi...

In its announcement on Wednesday, Ceconomy (ETR: CEC) said that its online sales saw a 300% increase in April. The company started resuming operations at its conventional stores last month but the surge in online sales, as per the company, stood its ground. The largest consumer electronics chain in Europe currently serves 13 regional markets in which it operates a total of 1,000 Saturn and Media Markt stores. As of May 13th, the Dusseldorf-headqu...

Logitech (SWX: LOGN) said that its quarterly sales came in 13.6% higher on Tuesday. Its computer products, the company added, were greatly in demand in the recent quarter as the Coronavirus pandemic pushed companies into resorting to work from home arrangements. Logitech said that its software, video conferencing equipment, and webcams saw a sharp increase in demand as governments ordered schools and offices to temporarily shut down to minimize t...

In its announcement on Tuesday, Vodafone Group (LON: VOD) said that its full-year core earnings came in line with the expectations of a 2.6% increase to £13.09 billion. The company, however, cited the rising Coronavirus uncertainty for not providing earnings guidance for the current year. As per Vodafone: “We are experiencing a direct impact on our roaming revenues from lower international travel and we also expect economic pressures to impact ou...

Shares of Dropbox (NASDAQ:DBX) have gained around 13% in the past few days after the tech company reported a strong performance in the first-quarter of the year. The buyers are now likely to push the price action towards $23.70, which hosts an important horizontal resistance.  Fundamental analysis: First-ever quarterly profit Dropbox reported adjusted earnings of $0.17 per share, higher than $0.14 expected from the market analysts. The reven...

According to CPCA (China Passenger Car Association), Tesla Inc. (NASDAQ: TSLA) sold a total of 3,635 Model 3 (Shanghai-manufactured) in China in April that marked a massive 64% decline as compared to March. The U.S electric car manufacturer, however, is known to report fewer sales in the 1st month as compared to the remaining 2 months of the quarter. As per the online briefing of the industry body, Tesla manufactured more than 10K units at its Sh...

In its statement on Thursday, BT Group (LON:BT.A) announced to have suspended its dividend that marks the company’s first in over a decade. The company also expressed plans of investing the saved money into building the next-generation full-fibre 5G broadband network across the United Kingdom. According to BT, its pre-tax profit posted a 12% decline to £2.3 billion at the end of March. The company is currently facing a new challenge from O2 and V...

Earlier this week on Thursday, Spain’s Telefonica (EBR: TFA) and UK’s Liberty Global (NASDAQ: LBTYA) announced to have signed a £31.4 billion agreement to merge Virgin Media and O2 and introduce a new giant in the United Kingdom’s telecommunications industry. The two firms agreed to a 50-50 partnership. As per the companies, the transaction is likely to be completed by mid-2021. Virgin Media and O2 merger is expected to pose a serious competition...

Dropbox (NASDAQ: DBX) released its quarterly financial results on Thursday that topped analysts’ estimates for earnings and revenue. In February, the chief executive officer of Dropbox, Drew Houston, said that the company is aiming profitability by the end of 2020. Following the release of the earnings report, Dropbox was reported around 2% up in extended trading on Thursday. Dropbox’s Q1 financial results versus analysts’ estimates According to...

Roku Inc. (NASDAQ: ROKU) released its first-quarter earnings report on Thursday that topped the analysts’ estimate for revenue. The report offered an initial insight into the Coronavirus impact on the company’s financial performance as the pandemic pushed advertisers into slashing spending in recent months. Following Roku’s announcement that ad cancellations were greater than usual in Q1, the stock was reported around 10% down in extended trading...