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Stock market news live updates: Stocks mostly lower after Nasdaq sets record high

Stocks abruptly turned negative Thursday as fears over the economic outlook following an increase in coronavirus cases resurged. The Dow and S&P 500 wiped out their week to date gains.

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  All Eyes on US Jobless Claims

  FX Empire
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  The job market recovery is faltering in these states where coronavirus cases are rising again

  Yahoo Finance

WhatsApp Business, now with 50M MAUs, adds QR codes and catalog sharing

The global COVID-19 health pandemic has raised the stakes for businesses when it comes to using digital channels to connect with customers, and today WhatsApp unveiled its latest tools to help businesses use its platform to do just that. The Facebook-owned messaging behemoth is expanding the reach and use of QR codes to let customers easily connect with businesses on the platform, providing them also with a series of stickers (pictured below) to kick off "we're open for business" campaigns; and it's made it possible for businesses to start sharing WhatsApp-based catalogs -- dynamic lists of items that can in turn be ordered by users -- as links outside of the WhatsApp platform itself. The new launches come as WhatsApp's business efforts pass some significant milestones.

Google reportedly cancelled a cloud project meant for countries including China

After reportedly spending a year and a half working on a cloud service meant for China and other countries, Google cancelled the project, called “Isolated Region,” in May due partly to geopolitical and pandemic-related concerns. Bloomberg reports that Isolated Region, shut down in May, would have enabled it to offer cloud services in countries that want to keep and control data within their borders. According to two Google employees who spoke to Bloomberg, the project was part of a larger initiative called "Sharded Google" to create data and processing infrastructure that is completely separate from the rest of the company’s network.

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  Google shuts down cloud project, says no plan to offer cloud services in China

  Reuters
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  Google Cloud Forges Multi-Year Deal With Renault

  SmarterAnalyst

Nasdaq Refuses to Lose as Costco Sales Soar; Amazon Settles for New Record High

2020 has been a tale of two markets, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) has definitely been the big winner. Both the Composite index and the Nasdaq 100 Index reached new highs, climbing around 0.5% and 1%, respectively, even as other market benchmarks fell. Meanwhile, Amazon.com (NASDAQ: AMZN) raced to new record heights, and while some are concerned about the nearly uninterrupted ascent for the tech giant, there are solid reasons why Amazon is doing as well as it is.

Alibaba Group Announces Filing of Annual Report on Form 20-F for Fiscal Year 2020

Alibaba Group Holding Limited today announced that it filed its annual report on Form 20-F for the fiscal year ended March 31, 2020.

Global PC Sales Climb on Rebounding Supply Chains, Rising Demand

(Bloomberg) -- Global personal computer shipments climbed in the second quarter, when vendors patched supply-chain issues and consumer demand for laptops surged with more people forced to work from home.PC makers shipped 2.8% more devices in the three-month period compared with a year earlier, for a total of 64.8 million units, according to preliminary data released Thursday by researcher Gartner Inc. Rival industry analyst IDC pegged the year-over-year increase at 11%. Both firms said the increase was fueled by particularly strong growth in Europe and the U.S.Major PC makers endured supply chain breakdowns during the first few months of 2020, when the coronavirus pandemic ground some manufacturing to a halt in the Asia-Pacific region, which produces key computer components. Vendors had little stock for some products while also facing stronger demand as billions of people around the world fled their offices to minimize the spread of Covid-19.“The strong demand driven by work-from-home as well as e-learning needs has surpassed previous expectations and has once again put the PC at the center of consumers’ tech portfolio,” Jitesh Ubrani, a research manager at IDC, said in a statement.HP Inc. and China’s Lenovo Group Ltd. each held about 25% of the global market. Gartner put Lenovo barely ahead while IDC had Palo Alto, California-based HP as No. 1 for the quarter. Dell Technologies Inc. and Apple Inc. rounded out the top four on both lists.For 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.

Why Fastly Stock Jumped Thursday, Soaring Past $100

The stock rose nearly 7% as of 3:10 EDT. The stock's move higher was likely primarily fueled by momentum. Investors have shown an incredible appetite for Fastly stock since the company reported first-quarter results that blew away expectations.

Why AMD Stock Was Trading Higher Today

What happened Shares of semiconductor company Advanced Micro Devices (NASDAQ: AMD) were trading a little higher on Thursday after Bank of America encouraged investors by reiterating its buy rating for the company.

• AMD, Expedia, Xerox: Tech Stock Midday Movers

  TheStreet.com
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  Nvidia, AMD Are Key Gaming Beneficiaries Ahead Of New Microsoft, Sony Consoles: BofA

  Benzinga

NVIDIA Now Most Valuable US Chipmaker, Intel Falls Behind

Let's see what's driving NVIDIA (NVDA) stock as the company's market cap surpasses that of Intel's and becomes the most valuable U.S. chipmaker.

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  Nvidia's Valuation Passes Intel's, With Stock Up 70% Year-To-Date

  Benzinga
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  Nvidia eclipses Intel as most valuable U.S. chipmaker

  Reuters

Here's Why Adaptive Biotechnologies Soared 61.7% in the First Half of 2020

Investors expect the company's technology platform to come in handy as the world corrals the coronavirus pandemic.

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  5 Keys To Investing In The Second Half Of 2020

  Benzinga
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  Why General Electric Stock Slumped Almost 40% in the First Half of 2020

  Motley Fool

Runup in Tech Mega-Caps Sows Doubt Before Key Earnings

(Bloomberg) -- Some of Wall Street’s biggest stocks are coming off their best quarterly performance in years, and with the broader economy still grappling with the pandemic, analysts are starting to express some skepticism about high-profile rallies.The S&P 500 surged 20% in the second quarter, its biggest quarterly gain since 1998. While the superlative nature of the rally was partly a function of timing -- many components hit a bottom right before the end of the first quarter -- the move was fueled by tech and internet stocks, which outperformed the benchmark and have heavy weightings due to their massive market capitalizations.Apple and Amazon.com both gained more than 40% during the quarter, making it the iPhone maker’s best quarter since 2012 and Amazon’s best since 2010.On Wednesday, Deutsche Bank confessed it was “surprised at both the speed and magnitude of the rebound” in Apple shares, adding that the move “has us nervous.” Raymond James echoed this tone on Tuesday, seeing uncertainty surrounding Apple’s forecast given an expected delay in the iPhone 12, a product Nomura Instinet expects “will fall short of a supercycle.” Both Deutsche Bank and Raymond James still recommend buying Apple shares.Amazon remains a consensus favorite on Wall Street -- more than 90% of the firms tracked by Bloomberg recommend buying it -- but the degree to which the share price exceeds analysts’ average price target is near a multiyear high, suggesting that even bulls aren’t expecting much additional upside.Among other mega-cap names, Microsoft rose 29% over the second quarter, its best such showing since 2009. Both Facebook and Google-parent Alphabet notched their biggest quarterly gain since 2013, with Facebook up 36% and Alphabet up 22%, based on its Class A shares. Netflix rose 21% last quarter.All are at or near record levels, and the rallies will soon be tested as each member of the group is scheduled to post quarterly results before the end of the month, with Netflix reporting next week.Apple EstimatesFor Apple, the rally has come despite a more tepid view for its upcoming results. Wall Street expects third-quarter earnings, excluding some items, of $2.03 a share, a consensus that is down 6.8% from where it was three months ago. The consensus for revenue has declined 0.9% over the same period.While analysts debate whether the results will justify the recent gains, many of these names are seen as potential pandemic winners. Microsoft is expected to see stronger demand for its cloud-computing and workplace collaboration products as people continue to work remotely, while the e-commerce wave lifting Amazon and others is seen as outlasting the coronavirus’s impact on brick-and-mortar stores.Apple analysts also see a number of reasons to be optimistic for the long term, including the company’s services business, wearable products, and its stock-buyback program. “Overall, we believe the directionality and reasoning behind AAPL’s stock rise,” Deutsche Bank’s Jeriel Ong wrote. Still, the firm has “ambivalence at these levels.”Firms expressed a similar sentiment about Netflix, which has seen higher engagement during the pandemic. Rosenblatt Securities “struggle[s] to see the upside” from current levels given “uncertainty over how [long] this favorable environment will last.” Stifel continues “to grapple with the risk/reward profile given limited 2H visibility.”Imperial Capital downgraded the stock earlier this week, moving away from an outperform rating that it had held since starting coverage on Netflix about two years ago, according to data compiled by Bloomberg. Following the recent advance, Netflix “will begin a fairly extensive range-bound trend as other long opportunities emerge in the media space,” the firm said.(Removes reference to Microsoft reporting next week in seventh paragraph of story originally published July 8.)For 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.

Boeing's Top 777X Customer Expresses Doubts the Plane Will Arrive on Time

Emirates, which represents more than one-third of the 777X order book, could seek to swap some of its orders for other planes.

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  Boeing 777X Set to Miss 2021 Debut, Top Buyer Emirates Says

  Bloomberg
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  Boeing Gets Dealt Another 737 Max Cancellation Blow. What It Means for Boeing Stock

  Motley Fool

Why NIO Stock Continued Its Run on Thursday

Shares of Chinese electric-vehicle maker NIO (NYSE: NIO) closed higher again on Thursday, after a Chinese business media outlet reported that the company may be close to a securing a hefty line of credit. NIO's American depositary shares ended Thursday's session at $14.63, up 13.6% from Wednesday's closing price.

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  Why Kandi Technologies' Stock Is Rising Today

  Motley Fool
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  Why NIO Stock Is Up Again Today

  Motley Fool

Dow Jones Drops 300 Points as Walgreens' Profits Plunge, Microsoft and Cisco Stocks Upgraded

Walgreens is raising its cost savings target as the pandemic hits sales and profits, and analysts see Microsoft and Cisco as good bets.

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  Dow Jones Futures: Mixed Coronavirus Market Rally Is Stock Picker's Paradise: Costco, Inphi Lead New Breakouts

  Investor's Business Daily
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  Dow Jones Searches for Direction as Apple Stock Rallies; IBM Acquires Automation Company

  Motley Fool

AWS Announces General Availability of AWS IoT SiteWise

Amazon Web Services, Inc. (AWS), an Amazon.com company (NASDAQ: AMZN), announced the general availability of AWS IoT SiteWise

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  Petro.ai and AWS Partner to Operationalize Modern Analytics and Reduce Legacy Infrastructure Costs in Oil and Gas

  Business Wire
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  Data Theorem’s API Secure Solution Automates Vulnerability Hacking to Secure APIs for Web, Mobile and Cloud; Now Available in AWS Marketplace

  Business Wire

Tesla appears poised to electrify S&P 500

Tesla Inc <TSLA.O> appears on the verge of joining the S&P 500, a major accomplishment for Chief Executive Officer Elon Musk that would unleash a flood of new demand for the electric car maker's shares, which have already surged 500% over the past year. With a market capitalization of about $250 billion, Tesla would be among the most valuable companies ever added to the S&P 500, larger than 95% of the index's existing components. While analysts and investors have recently become more confident of Tesla's addition, an S&P Dow Jones spokeswoman declined to comment about specific changes to the index.

Why AMC Networks Stock Was Gaining Today

What happened Shares of AMC Networks (NASDAQ: AMCX), the cable network operator, were climbing today on reports that the company was hiring advisors to potentially seek a sale. As a result, the stock was up 4.

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  Why AMC Entertainment Stock Rose Nearly 10% in Early Trading on July 8

  Motley Fool
• AMC院线(AMC.US)盘前大涨超12% 即将完成可避免近期破产的金融交易

  金融界

Why Splunk Stock Jumped by 32.7% in the First Half of 2020

The AI-powered analytics company's share price has soared by more than 250% over the last three years.

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  Why Shares of MGM Resorts Plunged 49.5% in the First Half of 2020

  Motley Fool
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  Why Shares of T-Mobile Rose 32.8% in the First Half of 2020

  Motley Fool

Disney in Dispute With Actors Union Over Reopening Protocols

Walt Disney (NYSE: DIS) has announced that it will begin a phased reopening process for its Orlando Walt Disney World theme park on July 11. The company has shared health and safety protocols that will be in place for park visitors and employees (called cast members). The Actor's Equity Association says that two days after Disney announced plans to recall the members back for rehearsals on June 23, it expressed to the company that the actors required a testing protocol since they could not socially distance on stage.

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  Disney says Walt Disney World reopening is on track for Saturday

  Reuters
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  Disney reopens this weekend. Can you get tickets? And will Mickey wear a mask?

  Miami Herald

Boeing 777X Set to Miss 2021 Debut, Top Buyer Emirates Says

(Bloomberg) -- Boeing Co.’s new 777X jet is likely to miss its planned debut next year, according to the aircraft’s top customer Emirates, which doesn’t expect to receive any planes before 2022.Deliveries of the wide-body jet, which first flew in January, will probably be held up by Boeing’s shutdown at the height of the coronavirus pandemic, together with a lengthy certification process, Adel Al Redha, the Gulf carrier’s chief operating officer, said Thursday in an interview.Emirates is also considering whether to seek a swap of some of the 115 777Xs it has on order -- representing more than a third of the total backlog -- for the smaller 787 Dreamliner, which might be better matched to demand, he said. Accelerating deliveries from an earlier Dreamliner order is a “possibility,” he said.“We will be discussing with Boeing in that regard, if we look what we can do with the 787,” Al Redha said. “We are in a fluid discussion and in the peak of re-examining all these kind of things. It does require re-examination, it does require re-thinking, it does require renegotiation.”Boeing is looking at delaying the upgraded 777’s introduction as other buyers also resist taking delivery of such a large plane when they’re being compelled to shrink operations, according to people familiar with the matter who asked not to be named discussing confidential matters. The company’s first new-jet introduction since the grounding of its 737 Max after two fatal crashes also faces increased scrutiny from the U.S. Federal Aviation Administration and other regulators.“I don’t see that they will be able to deliver the aircraft in 2021,” Al Redha said. “We will engage with Boeing to get more visibility. I think 2022 is a safe assumption to make.”Making ProgressBoeing said it’s working closely with its customers to adapt to the evolving Covid-19 situation. The Chicago-based company also said that it would soon add a third aircraft to its flight-testing program.“We continue to execute our robust test program for the 777-9, which began flight testing in January,” Boeing said in a statement, referring to the longest version of the 777X. “We remain pleased with the progress we are making and with the airplane.”Boeing fell 2.9% to $174.91 at 1:19 p.m. in New York amid broad U.S. stock declines. The shares fell 45% this year through Wednesday, the biggest drop on the Dow Jones Industrial Average.The FAA said that it can’t comment on its efforts to review the manufacturer’s work to upgrade the 777.While the agency is taking steps to make risk assessments more rigorous in the wake of the Max grounding, the certification process for the 777X began before the crashes and shouldn’t be affected by the reforms. All the same, the spotlight on the process could trigger other actions that slow down approval.The timing of the 777X commercial debut has been at the heart of complex negotiations with Emirates, which has already converted some of its original order for the smaller and more versatile Dreamliner. The first delivery for the 777X was originally set for this year, though the date was pushed back to 2021 following issues including delays to the plane’s General Electric Co. turbines.While Emirates’ 2013 order was instrumental in Boeing’s decision to go forward with the 777X, it isn’t clear if the airline or another of the launch group of customers would take the initial delivery.Cash SourceBy potentially accelerating its 787 deliveries, Emirates would help support a critical cash source for Boeing amid an uncertain market for wide-body aircraft. The planemaker has outlined plans to halve Dreamliner production as the Covid-19 pandemic spreads, citing fading demand for near-term deliveries.Chicago-based Boeing will be eager to begin handovers of the 777X after the Max crisis deprived it of revenue from its best-selling program. But the twin-aisle model, which boasts bigger wings and new engines, is arriving at a time when the high-volume long-haul market it’s designed to serve may be depressed for years.The 777-9 variant is longer than the 747 jumbo Boeing is winding down, and is the first twin-engine jet able to carry a similar number of people. It’s also the company’s priciest model, selling for $442.2 million before customary discounts.Sales, though, have stalled since an initial order flurry when the aircraft was unveiled at the 2013 Dubai Airshow, and anticipated orders from China haven’t materialized amid trade tensions.For the U.S. planemaker, there’s a risk that additional order conversions and deferrals will leave it manufacturing the jet in such low quantities that 777X profitability would be hurt. Qatar Airways, Cathay Pacific Airways Ltd. and Deutsche Lufthansa AG are among customers that are restructuring their fleet plans.Long-Haul SlumpEmirates, the world’s largest long-haul airline, has been hard hit by the unprecedented slump in travel caused by the coronavirus. It’s already had to rethink plans for the double-decker A380, a mainstay of its fleet, after a dearth of demand elsewhere led Airbus SE to decline to upgrade the jet and then to terminate the program early.The Gulf carrier, also the biggest customer for the Airbus super-jumbo, plans to take the delivery of three A380s during the fiscal year ending in March, Al Redha said. While the delivery schedule for the last five planes remains unchanged, “if the need comes to re-visit, obviously we will do that.”Read more:Boeing Quietly Pulls Plug on the 747, Closing Era of Jumbo JetsEmirates Weighs Biggest Cut Yet as Airline Industry ShrinksEmirates and FlyDubai Evolve From Odd Couple to Best BuddiesHe said he expects 60% to 70% of the current A380 fleet to be back in the air by December. Load factor now exceeds 55% and demand for both economy and premium travelers has strengthened, he said. The airline plans to keep all 115 of the double-decker jets.The Dubai-based carrier will roll out premium economy seats on its newest A380 aircraft slated to be delivered in November, Al Redha said. Some of the existing fleet will be retrofitted from economy to premium economy.Two BrandsEmirates Group is also looking for ways to streamline operations and increase efficiencies, Al Redha said. One of the possibilities that is being considered is combining the back office operations of Emirates with discounter Flydubai, while maintaining two separate companies and identities. Both carriers are owned by Dubai’s government.“There is definitely a scope having to look at how we can reduce the expenses and become more efficient in certain areas, even if requires combining some back office activities,” Al Redha said. Emirates is re-examining all companies within the group, including ground-handling and catering arm Dnata.Emirates and Flydubai have deepened their ties since 2017, embracing route rationalization to minimize duplication.(Updates with COO quote in fourth paragraph.)For 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.

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  Boeing's Top 777X Customer Expresses Doubts the Plane Will Arrive on Time

  Motley Fool
• 
  Boeing Gets Dealt Another 737 Max Cancellation Blow. What It Means for Boeing Stock

  Motley Fool

Why Netflix Looks Set to Surge Past Guidance Again

Netflix (NASDAQ: NFLX) is set to report second-quarter earnings on July 16, and the news could lift the streaming platform's per-share price even further past the all-time high it just hit above $500. Also, churn plays a role in Netflix's net additions, and defections have likely fallen during the crisis as there are few other entertainment outlets available.

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  Relief from the heat may be hard to come by during pandemic

  Nexstar / Tribune KTVI
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  Trump says his administration will pressure states to reopen schools in the fall

  Yahoo News Video

Top Research Reports for Apple, Microsoft & TMobile

Top Research Reports for Apple, Microsoft & TMobile

Netflix (NFLX) Reports Next Week: Wall Street Expects Earnings Growth

Netflix (NFLX) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

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  Western Alliance (WAL) Expected to Beat Earnings Estimates: What to Know Ahead of Q2 Release

  Zacks
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  Analysts Estimate Abbott (ABT) to Report a Decline in Earnings: What to Look Out for

  Zacks