Amazon (AMZN) reaches $900bn market cap milestone in a race with Apple (AAPL) to become the first trillion-dollar company | City A.M. July 18, 2018 Tech giant Amazon briefly broke past the $900bn (£689.7bn) market value mark today, making it the second company ever to reach the milestone. The company hit $902bn in a session high earlier today, after its share price rose 0.8 per cent at $1,858.88. Apple is the only other company to be valued above that mark, [...]
Debate: Given Netflix’s share price dive, should investors be worried about the future of the streaming service? July 18, 2018 Given Netflix’s share price dive, should investors be worried about the future of the service? Yes – Rebecca O'Keeffe is head of investment at Interactive Investor. Netflix is fundamentally a subscriber stock, and this key metric is showing some worrying signs. Not only did Netflix significantly miss on its second quarter targets for both its [...]
IBM looks to sue Groupon for $167m over alleged patent infringement | City A.M. July 17, 2018 IBM is suing coupons site Groupon for $167m over allegations the company used patented technology without permission. IT giant IBM argues that Groupon infringed its patent by using e-commerce technology which it had licensed to other companies including Amazon, Facebook and Google parent firm Alphabet for between $20m and $50m each. Lawyer John Desmarais, representing [...]
Netflix’s share price slumps 14 per cent after reporting a disappointing second quarter July 16, 2018 Wall Street darling Netflix’s share price plummeted by 14 per cent in after-hours trading, thanks to a set of lacklustre results for its second quarter. The site added 5.2m subscribers globally in the three months to June, about a million fewer than it had forecasted. Netflix said in a letter to shareholders that it had [...]
Microsoft faces high expectations ahead of Thursday’s quarterly results, after its share price (MSFT) hit an all-time high | City A.M. July 15, 2018 After a record performance in its third quarter and a share price spike to an all-time high last week, software technology firm Microsoft will be feeling the pressure ahead of publishing its fourth quarter results on Thursday. The company is expected to report revenue of $29.17bn (£22.1bn) at a 25 per cent year-on-year increase, according [...]
Going for gold: London fintech Glint is heading to the US and Japan, and will be raising £15m to do it July 12, 2018 Glint, a London startup that lets you spend and save in physical gold, is looking to raise a £15m Series A to help bolster its target of launching in the US and Japan by the end of the year. First launched in the UK in November last year, Glint offers its users a pre-paid Mastercard [...]
Old Mutual North American Equity added to the Foundation Fundlist Ian Heslop outperform S&P 500 US stock market quantitative FANG Amazon Facebook July 10, 2018 Finding funds that consistently outperform the American market is, it is often said, notoriously difficult. This has certainly been the experience over the past decade, accentuated in the past few years by the dominance of larger companies in dictating market returns, notably the so-called ‘FAANG’ stocks: the quintet of Facebook, Apple, Amazon, Netflix, and Google, [...]
Why pockets of retailers are thriving in London July 10, 2018 The obituary of high street retail, according to the press, has been written. Physical stores are closing at a rapid rate. We don’t think this tells the whole story. The daily announcements of retailer bankruptcies points to an ever-decreasing pool of occupiers. However, we argue that the pendulum of pessimism in investment markets often swings [...]
Twitter shares close five per cent down after site suspends 70m suspicious accounts July 9, 2018 Twitter shares closed up over five per cent down today after it revealed it had deleted millions of suspicious accounts. After confirming it had closed around 70m accounts in May and June, shares dropped as much as 10 per cent, before recovering later on in the day. The large number of suspensions could hit the [...]
Sky’s the limit: Alibaba Cloud looks to take on Amazon as it talks up a partnership with BT July 9, 2018 Chinese tech giant Alibaba is in talks to provide its cloud services to BT, in an apparent bid to take on Amazon’s dominance of the European market. Alibaba already holds a cloud services deal with Vodafone in Germany, where its first European data centre is located. If the partnership with BT were to look similar, [...]