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- Dropbox publishes a stronger than expected Q2 earnings report.
- CFO Ajay Vashee of Dropbox to step down on 15th September.
- The U.S. file hosting service now boasts 15 million paying users .
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Sony Corp (TYO: 6758) said on Tuesday that its profit in the fiscal first quarter dropped by only 1.1% that was significantly lower than expected. The company attributed it to its gaming business that showed resilience in recent months as COVID-19 saw homebound people looking for indoor means of entertainment. Shares of the company gained more than 1% up Tuesday. At £63 per share, Sony Corp is currently more than 15% up year to date in the stock...
Tech giant Microsoft Corporation (NASDAQ: MSFT) is in talks to acquire fast-growing social media app TikTok, a source told The New York Times’ Mike Isa and Ana Swanson. About TikTok TikTok is considered the fastest growing social media app but has come under recent scrutiny. The app is owned by ByteDance, a China-based internet company, and was recently banned in India. The Trump administration is considering a similar move amid reports of nation...
Facebook (NASDAQ: FB) said on Thursday that its revenue grew at the slowest pace in the second quarter since its IPO in 2012. Its quarterly financial results, however, were still stronger than what the experts had forecast. CEO Mark Zuckerberg of Facebook testified before the U.S. Congress on Wednesday along with the CEOs of Amazon, Apple, and Alphabet. Shares of the company jumped roughly 7% in after-hours trading on Friday. At £190 per share, F...
Alphabet Inc. (NASDAQ: GOOGL) published its quarterly financial results on Thursday that highlighted the company’s revenue to have plunged for the first time in history. The company attributed the decline to the Coronavirus pandemic that pushed advertisers into slashing spending in the fiscal second quarter. Shares of the company jumped less than 1% in extended trading on Friday. At £1,178 per share, Alphabet is currently trading more than 10% up...
Amazon (NASDAQ: AMZN) published its quarterly financial results on Thursday that came in significantly stronger than what the experts had forecast. The company attributed its hawkish performance to the Coronavirus pandemic that fuelled online shopping in recent months. Shares of the company jumped about 5% in extended trading on Thursday. At £2,443 per share, Amazon is currently just under 70% up year to date in the stock market after recovering...
Apple Inc. (NASDAQ: AAPL) published its quarterly financial results on Thursday that boasted the company to have shown resilience in recent months despite COVID-19 disruptions. Apple, however, refrained from giving future guidance due to the rising Coronavirus uncertainty. It also highlighted that the launch of the new iPhone may also be delayed by a few weeks because of the health crisis. Shares of the company jumped more than 6% in after-hours...
Comcast Corp (NASDAQ: CMCSA) published its quarterly financial results on Thursday that topped analysts’ estimates for earnings and revenue. The second quarter marked the first for the company after the launch of Peacock (ad-supported streaming service) and the one that reflected the full impact of COVID-19 on Comcast’s business. In April, Comcast had reported a 40% decline in profit in the first quarter. Shares of the company opened more than 1%...
Advanced Micro Devices (NASDAQ: AMD) published its quarterly financial results on Tuesday that highlighted the company to have generated more than expected revenue in the second quarter. The company also raised its revenue outlook for the full year on Tuesday. Shares of the company jumped more than 10% in after-hours trading on Tuesday. At £57.54 per share, AMD is currently about 50% up year to date in the stock market after recovering from a low...
3M Co. (NYSE: MMM) published its quarterly financial results on Tuesday that came in weaker than what the experts had forecast. The company attributed its dovish performance to the Coronavirus pandemic that weighed on its performance in the second quarter. 3M had previously reported an 11% decline in April sales due to the health crisis. Shares of the company were reported 2.2% down in premarket trading on Tuesday. At £126.12 per share, 3M Co. is...
In an announcement on Monday, SAP (ETR: SAP) expressed plans of spinning off Qualtrics. The company had originally acquired the survey-software unit in 2018 for £6.22 billion. According to FactSet, Qualtrics was the largest acquisition of the German software multinational corporation to date. Shares of SAP opened about 3.5% up on Monday but tanked roughly 2% in the next hour. At £126.25 per share, the German firm is currently 13% up year to date...
Bernstein analysts reversed a late March upgrade of Intel Corporation (NASDAQ: INTC) and caught some by surprise by now stating the stock is “un-ownable.” What happened at Intel? Intel sent shockwaves across the investment community Thursday when the company said what few if any investors could have imagined. The company’s 50-year history of manufacturing its own technology and products could come to an end as it faces a major setback with its 7n...
Honeywell International Inc. (NYSE: HON) said on Friday that its sales and profit came in lower in the second quarter, but the decline was not as sharp as expected. The company warned that the COVID-19 crisis is likely to keep sales under pressure, especially in its oil and gas, and aerospace businesses. Schlumberger also reported to have swung to a loss in Q2 on Friday. Shares of the company tanked more than 3% on market open on Friday. At £117....
Verizon Communications Inc. (NYSE: VZ) published its quarterly financial results on Friday that came in stronger what the analysts had forecast. The U.S. credit card company, American Express, also reported an unprecedented 85% decline in net income on Friday. Shares of the company opened just under 1% up on Friday and jumped another 1.5% on market open. At £44.77 per share, Verizon is currently more than 10% down year to date in the stock market...
Intel Corp (NASDAQ: INTC) published its quarterly financial results on Thursday that came in stronger than what the experts had forecast. Owing to the Coronavirus disruptions, the company said that the next-generation chips were likely to take longer to hit the market than it had originally anticipated. Intel’s earnings report came in a day after Microsoft reported its quarterly results. Shares of the company tanked about 10% in after-hours tradi...
AT&T Inc. (NYSE: T) published its quarterly financial results on Thursday that topped analysts’ estimates for earnings despite disruptions from COVID-19 in recent months. The company also took a hit to revenue in Q1. Shares of the company were reported about 1% up in premarket trading on Thursday. At £23.77 per share, AT&T is roughly 20% down year to date in the stock market after recovering from an even lower £21 per share in March. At t...
Twitter (NYSE: TWTR) published its quarterly financial results on Thursday that fell shy of the experts’ forecast for revenue. The company expressed confidence that its ad business showed moderate recovery in recent weeks. Its revenue from this segment, however, still came in 23% lower on a year over year basis in Q2. In the last 3 weeks of June, however, the advertising revenue was only 15% down as compared to the same period last year. Shares o...
Tesla Inc. (NASDAQ: TSLA) published its quarterly financial results on Wednesday that topped the analysts’ estimates for earnings and revenue. The company remained profitable in four consecutive quarters that now makes it eligible to secure a spot in the benchmark S&P 500 index. Shares of the company were reported about 6% up in extended trading on Wednesday. At £1,318 per share, Tesla is nearly 300% up year to date in the stock market...