|Bid||32.85 x 1200|
|Ask||33.80 x 1200|
|Day's range||32.39 - 33.78|
|52-week range||27.93 - 48.95|
|Beta (5Y monthly)||1.88|
|PE ratio (TTM)||7.61|
|Earnings date||22 Apr 2020 - 26 Apr 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||3,680.72|
Yandex (YNDX) rolled out a project called Helping Hand, which will manage transportation, medicinal deliveries, and food and other essential commodity supplies to fight COVID-19 pandemic.
Russian online retailer Ozon plans to spend more than $300 million on logistics in the next two to three years, its CFO Daniil Fedorov told Reuters, and has also talked to investment banks about a possible stock market listing. Ozon, which sells everything from white goods to children's clothes, wants to increase market share in Russia's crowded e-commerce sector, which analysts expect to grow significantly in the coming years, as large companies, including Yandex and Mail.Ru and Sberbank jostle for space. Ozon's sales increased 93% to 80.7 billion roubles ($1.1 billion) in 2019 and the volume of orders more than doubled to 32.2 million.
Sberbank and Chinese technology giant Huawei said on Tuesday they had formed a strategic partnership to provide cloud services for Russian businesses, extending the reach of Russia's largest bank into the country's digital economy. SberCloud.Advanced clients, which Sberbank hopes will range from large businesses to small and medium-sized enterprises (SMEs) and start-ups, will have access to 37 new cloud services, and will represent a first on the Russian market because all services will be fully integrated into one system. State-owned Sberbank, which has investments in Russian internet giants Yandex and Mail.Ru, has been steadily transforming itself from banking to online services.
(Bloomberg) -- Alphabet Inc.’s Google has reached a settlement with state attorneys general over the states’ use of consultants in their antitrust investigation of the internet search giant.Google in October went to court to restrict the Texas Attorney General’s office from disclosing sensitive information to consultants who have worked for competitors and other companies such as News Corp. and Microsoft Corp that have complained about Google to regulators.Both sides reached a settlement that places some restrictions on how the experts can access confidential business information, Google said on Friday.Google had raised concerns over Texas Attorney General Ken Paxton’s hiring of consultants including Cristina Caffarra, an economist with Charles River Associates. She has worked for Google adversaries News Corp. and Microsoft as well as Russia’s Yandex NV, according to court filings.“We remain concerned with the irregular way this investigation is proceeding, including unusual arrangements with advisers who work for our rivals and vocal critics,” Google said in a statement.Paxton later released a statement saying, “With this agreement, experts retained by the state will not be burdened with the unreasonable prohibitions sought by Google. They will be able to lend their important expertise to the state without fear of being frozen out of other employment within their field.”(Updates with Paxton statement, in final paragraph.)To contact the reporters on this story: David McLaughlin in Washington at firstname.lastname@example.org;Ben Brody in Washington, D.C. at email@example.comTo contact the editors responsible for this story: Sara Forden at firstname.lastname@example.org, John HarneyFor 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.
Yandex (YNDX) delivered earnings and revenue surprises of -35.90% and 2.26%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Yandex (YNDX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
(Bloomberg) -- Google’s response to a European Union order to give rival search apps a foothold on its Android phones may fail to steer users to alternatives, warned U.S. upstart DuckDuckGo, a competitor that won the right to appear as another search option on new handsets across Europe.Google has to prompt users to pick alternative search and web browser apps under the terms of a 2018 EU antitrust ruling that found the company unfairly ties moneymaking services to the Android software it gives away.It chose to set up an auction format for smaller rivals where they will pay to appear as a one of three non-Google options on the choice screen across Europe from March to June.But the user experience of the screens “is designed in a way that is subconsciously influencing people to use Google more than they otherwise should or would like to,” Gabriel Weinberg, chief executive officer of DuckDuckGo, a U.S. search engine that says it doesn’t track users, said in a phone interview.“Ultimately it will not be effective if it remains like that, if only because the auction format will push out a private option and that is the number one thing besides Google that people want to select,” he said.Non-Google OptionsThe auction will be re-run every three months. DuckDuckGo, Info.com and Google are the only search apps that will appear on the choice screens in 31 countries in the region. Microsoft Corp.‘s Bing will appear only on U.K. screens while Qwant, GMX, Seznam.cz AS, Yandex and PrivacyWall will be shown in some other European countries.Users trying to set up their phones will be shown a choice of four search engines, without much explanation of the apps or the possibility to change their choice later, DuckDuckGo said in a separate blog post on Tuesday.By passing up other ways of designing the prompts that could draw users to non-Google options, DuckDuckGo said Google is potentially undermining the EU order’s aim to widen alternatives to its apps.Google declined to comment, referring to a detailed January blog post where it said the “choice screen design was developed in consultation with the European Commission.”The commission’s press office said regulators “will continue monitoring closely the implementation of the choice screen mechanism” which comes after discussions with Google and feedback from other companies “in particular in relation to the presentation and mechanics of the choice screen and to the selection mechanism of rival search providers.”Choice Screen“As regards DuckDuckGo, as a result of the choice screen mechanism, they will be on every new Android device in the European Economic Area, and it will be for consumers to choose which search engine to install and use,“ the EU said in an emailed statement. The EU’s Android decision also allows rival search engines to be exclusively pre-installed on phone and tablets which “was not possible before.”Google said it was possible to pre-install other search providers prior to the EU ruling. The company is separately challenging the EU decision on Android at the bloc’s second-highest court. The same court will hold a three-day hearing in February on Google’s appeal to an earlier antitrust decision on its search service.Weinberg said DuckDuckGo has discussed its concerns with the European Commission.Margrethe Vestager, the EU’s competition commissioner, told reporters on Monday that she’s “very very closely” following Google’s efforts to comply with the order. She said she’s aware of the detail of the design, adding that officials were “doubting if people would use unlimited scroll” to show a large number of alternatives.Prices rivals must pay Google to appear on the screen “came down quite dramatically in the latest auction,” she said.The EU has never formally signed off on how Google opted to comply with the order, leaving it uncertain whether the company has done enough to avoid more fines. Regulators could seek further changes to the choice screen from Google if necessary.Google’s Chrome browser partly owes its own initial surge in popularity to choice screens that Microsoft agreed to show under EU pressure to offer people an alternative to the browser it loaded on to new personal computers with its Windows software.Microsoft’s screen “wasn’t limited in choice and had 12 different browsers” and “most or all of the elements that we are suggesting here,” Weinberg said.(Updates with detail of search apps in 6th paragraph. An earlier version of this story was corrected to say that Info.com will also appear across Europe.)\--With assistance from Natalia Drozdiak.To contact the reporter on this story: Aoife White in Brussels at email@example.comTo contact the editors responsible for this story: Peter Chapman at firstname.lastname@example.org, Nate LanxonFor 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.
Russia's Sberbank plans to continue its partnership with Yandex even though it has transferred its 'golden share' in the country's leading internet company to another entity, Sberbank's Chief Executive German Gref told Reuters. To assuage Kremlin fears about potential foreign influence, Yandex this month approved changes to its corporate structure to establish a "public interest foundation" which would receive Sberbank's golden share and a number of other rights.
Shareholders of Yandex, Russia's biggest technology company, approved changes to its corporate governance on Friday to allow a "golden share" to be held by a new entity, to assuage Kremlin fears about potential foreign influence. The Russian government, concerned that user data could fall into foreign hands, wants to limit foreign ownership of Russian internet companies. Yandex, Russia's equivalent to Google, said on Friday about 99% of its shareholders voted in favor of setting up a new public interest foundation, which would be run by a board of 11 Russian nationals to oversee the golden share currently held by state-owned Sberbank.
Apple, Amazon and Alphabet form an alliance to gain from growing clout of connectivity devices and a booming smart home space. Let's take a look at what others are up to.
(Bloomberg) -- Russian police raided the offices of Nginx Inc., a U.S. company behind one of the largest web server projects, and briefly detained its founder in a case that could stoke renewed fears of law enforcement being used to settle corporate disputes.Russia’s Rambler Group, the parent company of one of the country’s biggest search engines and internet portals, said in a statement Thursday it uncovered copyright violations to its exclusive rights to Nginx, which was acquired by Seattle-based F5 Networks Inc. this year in a deal that valued the company at $670 million.The dispute centers around the development of Nginx’s original open-source web server code by Igor Sysoev when he worked at Rambler nearly two decades ago, so Rambler sees itself as the rightful owner of the code. Nginx was first released publicly in 2004. It now controls more than 30% of the server market for web-facing computers, behind only the Apache Foundation, according to Netcraft, which monitors the industry.The raid is the latest example of the widespread use of Russian law enforcement in corporate disputes. U.S. investor Michael Calvey, one of the most successful private equity investors in Russia, was jailed this year and remains under house arrest over what he claims is a business conflict.Maxim Konovalov, who co-founded Nginx Inc. in 2011, linked the raid to the May sale of the company. He and his partner Sysoev were briefly detained during the Thursday raids of their apartments and the company’s Moscow office.“We fear for our freedom,” Konovalov said by phone. “Rambler didn’t pay attention to us in the preceding years.” Konovalov said he and Sysoev are “not going to flee Russia. We will stay and we will fight.”Igor Ashmanov, who was an executive at Rambler when Sysoev worked there, said Sysoev had started developing the technology underlying Nginx before he joined the company. Sysoev left Rambler in 2011 to co-found Nginx. The company is based in San Francisco but has offices around the world.Yandex NV, Russia’s biggest tech company, called the raid a “very bad signal.” Several IT industry associations condemned the action, according to an open letter published on the Govorit Moskva radio station’s website.Rambler, owned by billionaire Alexander Mamut and Sberbank PJSC, said it ceded its rights to Nginx to a Cyprus-owned holding company, Lynwood Investments CY Ltd.Lynwood is controlled by Mamut’s son Nikolai, according to Interfax news agency.Lynwood said by email it informed law enforcement about the situation and the authorities opened up a criminal case. The company declined to comment on its ownership.F5 and the police did not immediately respond to requests for comment.Sberbank First Deputy Chief Executive Lev Khasis, who is the chairman of Rambler’s board, said he found out about the dispute via media reports and has requested an extraordinary board meeting this month to deal with it.“I don’t like that this is a criminal trial,” Sberbank Chairman Herman Gref told Forbes, adding that this is a case for the arbitration court.Despite pledges from President Vladimir Putin to better protect business from inappropriate pressure from law enforcement, it remains a common tool to settle commercial disputes in Russia.A survey by the Kremlin’s business ombudsman found 84% of business executives who are subject to criminal investigations end up losing part or all of their business, RBC reported earlier this year.\--With assistance from Anna Baraulina and Ilya Arkhipov.To contact the reporters on this story: Stepan Kravchenko in Moscow at email@example.com;Jake Rudnitsky in Moscow at firstname.lastname@example.orgTo contact the editors responsible for this story: Torrey Clark at email@example.com, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Russia's largest lender, Sberbank , has added driverless cars to its list of technology ventures, by teaming up with AI transport developer Cognitive Technologies, the two companies said on Thursday. Sberbank and Cognitive Technologies have signed a legally binding document to create a new company, Cognitive Pilot, they said in a statement. Sberbank will have a 30% share in the company, while Cognitive Technologies will take 70%.
(Bloomberg) -- Uber Technologies Inc. and its rivals disrupted global transport, riding on a lack of regulation to drive exponential growth. Now, regulators are closing in.London’s transport authority banned Uber for a second time on Monday, citing concerns about customer safety after vulnerabilities in the app let drivers fake their identities in thousands of rides.The decision shows that regulatory scrutiny of passenger safety is intensifying -- adding a new front in a global crackdown that had focused on drivers’ rights. Uber isn’t just drawing ire in Europe. It faces problems related to sexual assault and a fatal roadside incident involving a self-driving car in the U.S. Rival Lyft is under pressure in San Francisco in sexual assault cases and Didi is under fire from regulators in China over its safety record.The deepening pressure hits at the core of the business model of ride-hailing companies, which often operate at a loss as they undercut traditional taxi services to win users and aggressively expand into new markets. That makes them particularly vulnerable to increased costs associated with new regulations. And that’s spooking investors.Uber shares have dropped 34% since it listed in May. Rival Lyft is also down about 32% since its March initial public offering.“The horror show of bad news since its IPO continues for Uber,” wrote Wedbush Securities analysts Ygal Arounian and Daniel Ives in New York.Representatives for Uber and Lyft didn’t immediately respond to requests for comment.Piling UpFor Uber, the loss of its license in London puts one of its biggest markets outside of the U.S at risk. The regulator found unlicensed users pretending to be Uber drivers and faking their identities in at least 14,000 trips.While Uber said it had caught the vulnerability in its system and patched it, the regulator wasn’t convinced. One of the drivers implicated had his license suspended after he was caught peddling indecent images of children, a spokesman for Transport for London said.Passenger safety has long been a contentious issue for ride-hailing startups.Chinese giant Didi Chuxing came under scrutiny in May 2018, when state media reported a driver used his father’s account to pick up and kill a woman in the central Chinese city of Zhengzhou. In 2014, an Uber driver in India took a woman to an isolated area and raped her, a Delhi court found.A woman in the U.S. said she was raped last year after she got into a car with an Uber decal and was driven to a secluded location and attacked. Uber beat back her lawsuit, but the judge suggested in her ruling this month that the company is opening itself to trouble if it allows its decals to remain on vehicles belonging to dangerous drivers.No GuaranteeIn October, the chairman of the U.S. House Transportation and Infrastructure Committee called ride-hailing companies out for conducting “woefully inadequate” background checks on drivers.“Uber may need to improve background checks on drivers and even the app itself,” said Bloomberg Intelligence Analyst Aitor Ortiz, alluding to its latest problems in London. “(But) this won’t guarantee Uber a new license, and threatens to reduce margins in a city where increasing competition from companies such as Ola, ViaVan and Bolt is adding to pressure on ride prices.”U.K. Labour Leader Jeremy Corbyn made clear what such companies may have in store if his party wins the vote next month.“Uber must play by the rules,” he tweeted on Monday. “A Labour government will not tolerate companies which exploit their workers, don’t pay their fair share of taxes and disregard passengers’ safety.”Closing InThe focus on passenger safety comes as rules over driver rights begin to bite.New York Mayor Bill de Blasio’s effort to boost pay for drivers and cut congestion on the streets of the city may have contributed to the bankruptcy of Juno, a New York-based ride-sharing startup. Juno’s owner, Gett Inc., called the new regulations “misguided” in a statement this month.A new California law is giving workers in the gig economy the right to a minimum wage. A similar battle will soon be underway in New York, where lawmakers are planning to take up gig worker legislation next year.Read more: Uber Accused of Cheating the Public in Driver Suit Over PayTax authorities are also catching up with ride-hailing start ups. In November, New Jersey declared that Uber owes it $650 million in unemployment and disability insurance taxes because the ride-share company has been misidentifying drivers as independent contractors.Uber expects to lose between $2.8 billion and $2.9 billion this year. Questions are also being posed about Didi’s path to profitability after blitzing the market with heavy subsidies to grab market share from rivals. Only Russian operator Yandex.Taxi has so far turned profitable.Courting ControversyStill, Uber, which has a reputation for bullying its way into new markets and inspiring sometimes violent protests, is no stranger to controversy. It remains to be seen how it reacts to this new wave of scrutiny.Chief Executive Officer Dara Khosrowshahi, who flew to London to make peace when Uber was originally banned in 2017, has no such plans this time. In a tweet, he called the decision “just wrong.”Analysts including those at New Street and Loop Capital remain optimistic Uber will continue operating in London. The appeals process means that the company may not have to actually leave London for years, if ever.“In the long run, we expect that Uber will be operating in London, although we cannot rule out the possibility of periods of uncertainty as these regulatory challenges present themselves,” said Loop analyst Jeffrey Kauffman.To contact the reporters on this story: Amy Thomson in London at firstname.lastname@example.org;Nate Lanxon in London at email@example.comTo contact the editors responsible for this story: Giles Turner at firstname.lastname@example.org, Vidya RootFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.