|Day's range||58.00 - 58.00|
With the next version of Windows 10, coming this spring, Microsoft's Cortana digital assistant will lose a number of consumer skills around music and connected homes, as well as some third-party skills. Microsoft is also turning off Cortana support in its Microsoft Launcher on Android by the end of April and on older versions of Windows that have reached their end-of-service date, which usually comes about 36 months after the original release. As the company explained last year, it now mostly thinks of Cortana as a service for business users.
Is it time to buy stocks now that the coronavirus has caused stocks to crash? Top experts weigh in on Yahoo Finance.
Millennials, who vouch for bitcoin democratization, also prefer the world's numero uno cryptocurrency as a form of investment to save for the future.
The Zacks Analyst Blog Highlights: Microsoft, Electronic Arts, Activision Blizzard, Take-Two Interactive Software and Nintendo
The Vatican joined forces with tech giants Microsoft and IBM on Friday to promote the ethical development of artificial intelligence (AI) and call for regulation of intrusive technologies such as facial recognition. The three said AI should respect privacy, work reliably and without bias, consider human rights and operate transparently. Pope Francis, who has raised concerns about the uncontrolled spread of AI technologies, gave his backing in a speech read on his behalf at a conference attended by Microsoft president Brad Smith and IBM Executive Vice President John Kelly.
(Bloomberg) -- Baidu Inc. predicted revenue may slide as much as 13% this quarter, joining its fellow technology giants in warning about the impact of the deadly coronavirus.China’s internet search leader forecast a 5% to 13% plunge in sales to between 21 billion yuan ($3 billion) and 22.9 billion yuan in the March quarter, missing an average projection for 23.4 billion yuan. Its U.S.-traded shares slid as much as 1.6% in extended trading.From Microsoft Corp. and Apple Inc. to Alibaba Group Holding Ltd., the world’s largest corporations have either scaled back on projections or warned of a hit to their operations from Covid-19. Apart from the uncertainty of the outbreak, Baidu has been grappling with a slowing home economy and competition from upstarts like ByteDance Inc. that’ve lured advertisers away and depressed marketing rates. Chief Executive Officer Robin Li said it will take time for the world’s No. 2 economy to recover.“The return of economic growth will be a long-term issue after the epidemic, but many new opportunities are emerging,” the billionaire founder told employees in an internal memo obtained by Bloomberg.Certain businesses can thrive despite the epidemic, including online entertainment and education, Li added. Baidu’s Netflix-style unit iQiyi Inc. projected a better-than-expected revenue gain of 2% to 8% this quarter.“The virus has affected consumer spending, so naturally advertisers will want to postpone their budgets,” said David Dai, a Hong Kong-based analyst with Bernstein.Read more: Virus Outbreak Exposes $46 Billion Rift in China’s Tech IndustryIn recent days, anxiety has mounted about the spread of the virus outside of China, where it originated. But Baidu executives on Friday emphasized they remained upbeat about a gradual return to normality.“Business activities have started to pick up as people return to work. At Baidu, our employees are gradually returning to the office, applying strict safety measures,” Chief Financial Officer Herman Yu told analysts on a conference call. “We assume businesses across China will do the same, and that our marketing services will pick up at a faster pace into quarter-end.”Baidu had earlier reported better-than-expected revenue for the quarter ended December, when ad demand stabilized and pressure from competitors eased. To offset stalling growth, it looked to improve its bottom line especially by tightening content costs related to iQiyi. Longer term, the company is investing gains from its core search and news services into divisions like driverless cars and smart speakers.Baidu’s shares rallied after the company reported preliminary revenue for the December quarter that beat the highest of analysts’ estimates, but that gain’s mostly been erased since the epidemic triggered a broader selloff of Chinese stocks. The company has been surpassed in market value by rivals like Meituan Dianping and NetEase Inc. after shedding more than $11 billion last year.“For the majority, or probably all of the industries who advertise on us, those kinds of demand don’t disappear -- they’re just postponed,” Li said on the call Friday. “If you plan to marry, you’ll still get married. If you plan to buy a car, you’ll still buy a car. If you plan to become prettier, you’ll still go for cosmetic surgery. This kind of demand will come back after the epidemic ends.”To contact the reporter on this story: Zheping Huang in Hong Kong at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Colum MurphyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Dell Technologies Inc. gave a profit forecast that fell short of Wall Street estimates, in a sign that weaker corporate demand for personal computers will take a toll on the hardware giant.Profit, excluding some items, will be $5.90 to $6.60 a share in fiscal 2021, Chief Financial Officer Tom Sweet said Thursday during a conference call. Analysts, on average, projected $6.72, according to data compiled by Bloomberg.Dell expects $92 billion to $95 billion in fiscal 2021 revenue. The sales midpoint topped the average analyst estimate of $93.1 billion. A surge of corporate upgrades to PCs that has fueled robust demand will probably end in the second half of the fiscal year, Sweet said.Chief Executive Officer Michael Dell has sought to leverage the different parts of his empire to sell clients higher-value packages of hardware and software. But global economic issues, including trade conflicts, the past few months have slowed sales of equipment for data centers, particularly in China. Sweet said server demand would bounce back during the year, which will help boost the company’s overall revenue.Unlike competitors such as Microsoft Corp. and HP Inc., Dell didn’t account for any economic effect from the coronavirus outbreak in its forecast.“I didn’t think it was appropriate to quantify, because I’m not sure we know the full impact,” Sweet said in an interview. “We’ve been moving production and parts around. Are we at full capacity? No. We’re navigating through it based on what we know today.”Dell anticipates adjusted operating income of $8.9 billion to $9.5 billion in fiscal 2021, Sweet said.In the period ended Jan. 31, Revenue increased 1% to $24 billion, the Round Rock, Texas-based company said earlier Thursday in a statement. Analysts, on average, estimated $23.9 billion. Profit, excluding some items, was $2 a share in the fiscal fourth quarter, matching estimates.Sales in the company’s infrastructure solutions unit, which provides equipment to data centers, declined 11% to $8.8 billion. Storage hardware sales decreased 3% and servers and networking gear dropped 19%, highlighting a slower spending environment among large corporate clients.The personal computer division gained 8% to $11.8 billion in the quarter. Commercial sales rose 10% due to corporate clients upgrading their computers to adopt Microsoft’s Windows 10 operating system. Revenue from consumers climbed 4%.Shares fell to a low of $40.40 after closing at $43.56 in New York. The stock has declined 23% in the past 12 months.Dell said it repaid about $1.5 billion of gross debt in the quarter and $5 billion for the year. The company said it has paid down $19.5 billion in gross debt since closing its acquisition of EMC Corp. in September 2016. Dell also announced a $1 billion share buyback program over two years.To contact the reporter on this story: Nico Grant in San Francisco at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Andrew Pollack, Dan ReichlFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The current record is nine days, occurring in early 2018, according to S&P Dow Jones Indices analyst Howard Silverblatt. While the indexes pared some losses, the S&P 500 fell as much as 11.2% from its record close and the Nasdaq dropped 12.2% from its own peak. At its session low, the Dow Jones Industrials declined 12.1% from its Feb. 12 closing high.
The market's huge coronavirus-based selloff rolls on Thursday. Microsoft's updated guidance. And why Dropbox (DBX) is a Zacks Rank 1 (Strong Buy) stock at the moment...
Microsoft said on Wednesday its supply chain was taking longer to return to normal operations than expected, and its Windows and Surface computers had taken a bigger hit than feared. The impact of the fast-spreading virus has taken a toll on companies across sectors, particularly technology companies as their supply chains in China come under strain.
(Bloomberg) -- Microsoft Corp. said it will withdraw from the Game Developers Conference scheduled for next month in San Francisco because of concerns about the spread of coronavirus, the latest gaming company to pull out of the event.The conference, scheduled for March 16 - March 20, is a key annual event for engineers and artists who build video games. The company will instead stream its planned sessions on its website at www.microsoft.com/gamestack.“The health and safety of players, developers, employees, and our partners around the world is our top priority,” the company said. “Especially as the world is experiencing growing public health risks associated with coronavirus.”Facebook Inc., Electronic Arts Inc. and Sony Corp.’s PlayStation have also opted to skip the conference. Microsoft on Wednesday said it will fall short of sales forecasts for the current quarter because supply chain disruptions in China have hurt its Windows and personal computer businesses.In recent days, anxiety has mounted about the spread outside of China, where the virus, called Covid-19, originated. For the first time, more cases were reported in countries other than China in the past 24 hours, the World Health Organization said late Wednesday, a significant development as new cases spread around the globe.To contact the reporter on this story: Dina Bass in Seattle at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Andrew Pollack, Molly SchuetzFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Stocks across the globe and oil prices continued to tumble on Thursday and U.S. Treasury yields hit record lows as traders fretted over the economic impact of the spreading coronavirus. On Wall Street, major indexes were set for their steepest weekly pullback since the global financial crisis more than a decade ago as rising numbers of new infections outside China raised fears of a pandemic.
The drop in share price wiped off nearly $50 billion from the Microsoft's market value on a day when broader markets were down more than 2%. Apple was the first big technology firm to come out and say the virus was affecting its production and demand in China. PayPal Holdings Inc and Mastercard Inc have also warned about a possible hit.
The global online gaming market size is poised to reach $79 billion by 2025, supported by growing popularity among millennials and Gen Z globally.
(Bloomberg) -- PayPal Holdings Inc. cut its forecast for revenue in the first quarter due to the continued impact of the coronavirus.The payments operator said it expects revenue to be on the lower end of a previously forecast range of $4.78 billion to $4.84 billion. The company reaffirmed its outlook for adjusted earnings of 76 cents to 78 cents a share.“PayPal’s business trends remain strong; however, international cross-border e-commerce activity has been negatively impacted by COVID-19,” the company said in a statement Thursday. PayPal said it expects the “negative impact from COVID-19” to be about a one percentage-point reduction to revenue growth for the first quarter.PayPal shares were little changed in morning trading in New York on Thursday. The stock has dropped about 10% in the past week. Companies have begun lowering forecasts as the deadly virus spreads from China to Europe, the Middle East and the U.S. Federal health officials warned earlier this week that the illness will almost certainly spread in the U.S. and that people should prepare for significant disruptions in daily life, including school closings, cancellations of sporting events, concerts and business meetings.On Wednesday Microsoft Corp. reduced its quarterly outlook, following Apple Inc. and HP, because of supply-chain disruptions related to the virus. Mastercard Inc. also lowered its forecast for quarterly revenue growth as the virus curbs international travel and takes a bite out of e-commerce.Anxious investors have driven five consecutive days of stock market losses in the U.S., erasing the benchmark S&P 500 index’s gains for the year.(Updates with shares in fourth paragraph.)To contact the reporter on this story: Julie Verhage in New York at email@example.comTo contact the editors responsible for this story: Mark Milian at firstname.lastname@example.org, Molly Schuetz, Alistair BarrFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Microsoft said it may miss its revenue guidance for the upcoming quarter on coronavirus-related pressure on Microsoft's Windows and Surface hardware businesses.
(Bloomberg) -- UiPath, a software maker valued last year at $7 billion, is getting closer to an initial public offering after helping some of the biggest companies in the U.S. automate routine processes.Armed with last year’s $568 million funding round that gave the New York-based company its multi-billion dollar valuation, co-founder and Chief Executive Officer Daniel Dines sees more growth on the cards. The bourse entry may take place as soon as early next year, depending on market conditions and strategic decisions.“We just started our growth journey in 2016 and if you look at the average age of a company to do an IPO it’s probably 7 years, so there’s” no reason to hurry, Dines said in an interview from New York. “You have to become a public company at some point to allow your employees to get more liquidity, give them stock options. We’re almost there.”Founded in Romania in 2005 as DeskOver and renamed in 2015, UiPath’s client base includes the CIA, the U.S. Navy, McDonald’s Corp, Duracell and Swiss Re. The company had $360 million in annual recurring revenue last year and it attracted funding from investors such as Sequoia, CapitalG, Wellington Management, Sands Capital and others.“Even though UiPath technically can do an IPO, I think they don’t have to do that. They already got a huge amount -- $1 billion -- in venture funding and don’t have to get their hands tied up in the capital market.”\--Kathy Gao, a BloombergNEF analyst focused on the digital industryUiPath’s software performs low-skilled and repetitive tasks once outsourced to humans in cheaper-wage countries, via “robotic process automation,” or RPA. Examples include the processing of applications for jobs, pensions or handling student data at universities.UiPath, which became Romania’s first unicorn in 2018, competes with other software vendors such as Blue Prism Group Plc, Kofax, and Automation Anywhere Inc. Dines, who ruled out acquisitions in the near future, didn’t give financial details on UiPath’s potential IPO.Blue Prism has already had an IPO, in which it raised about 21 million pounds ($27 million) in 2016. Blue Prism’s shares skyrocketed after its IPO while still unprofitable, and in 2019 it raised an additional 100 million pounds to fund its expansion. The U.K.-based company said last month that its investments widened its 2019 loss but would be showing returns this year, while its customer base was growing.Virus Backlog“We’ve seen increased competition, even Microsoft said they will come with an RPA solution,” UiPath’s Dines said. “This is a great validation for the industry.”One key area to watch is the use of UiPath to help hospitals fighting the coronavirus to avoid backlogs and speed up diagnosis, according to Dines.“RPA has become a really big and established sector and many companies have plans to implement it,” he said.(Adds background on Blue Prism IPO in 8th paragraph. An earlier version of this story was corrected to remove an analyst’s characterization of its share sale process)To contact the reporters on this story: Andra Timu in Bucharest at email@example.com;Irina Vilcu in Bucharest at firstname.lastname@example.orgTo contact the editors responsible for this story: Andrea Dudik at email@example.com, Andras Gergely, Balazs PenzFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.