Dozens of states prepare antitrust probe of Google's advertising practices
* Stories are summarized by an A.I.
* Stocks or companies mentioned: GOOG, UBER, AMZN, TSN, MSFT, F, ACDVF, Purdue Pharma, WDC, and INTC
Dozens of states prepare antitrust probe of Google's advertising practices
GOOG (Alphabet Inc.) | CNN
More than half of the country's state attorneys general are readying an antitrust investigation into Google's advertising practices, with an announcement of the probe set for next week in Washington, two sources familiar with the matter told CNN. The Washington Post was The announcement is expected to be made on September 9near the US Supreme Court, one of the sources said. The Washington Post was first to report the expected announcement. While the announcement will focus on Google, other companies could be drawn in by the states — either as targets of other investigations or to serve as effective witnesses. "With all the investigations going on, there'll be multiple cases against multiple defendants on multiple theories [of harm]," another source said.
Read More
Uber and Lyft close at record lows as investors lose faith in ride-sharing companies
UBER (Uber Technologies Inc) | CNBC
Shares of Uber and Lyft fell to fresh lows on Tuesday, posting their lowest close ever, as the ride-hailing companies face growing skepticism from investors. Uber closed down 5.7% to $30.70, falling below its previous low of $32.57 on Aug. 30. The stock dropped as low as $45.40 on Tuesday, touching a new intraday low. Uber reported a net loss of $5.24 billion for its second quarter of 2019, blaming stock-based compensation costs. By comparison, Lyft lost $644.2 million in the second quarter, representing a significant jump from the $178.9 million it lost a year earlier.
Read More
Amazon testing payment system for Whole Foods that uses hands as ID
AMZN (Amazon.com Inc.) | New York Post
Forget the titanium Apple Card — Amazon’s latest payment method uses flesh and blood. The system, code-named “Orville,” will allow customers with Amazon Prime accounts to scan their hands at the store and link them to their credit or debit card. Amazon hopes to introduce the tech to a handful of its Whole Foods stores by the beginning of next year, and to eventually expand the super-fast checkout tech to all US locations. “You only have to walk into Whole Foods to see the massive lines of people waiting to check out. Nevertheless, experts say it’s unclear whether customers will be enthusiastic about scanning their hands at Whole Foods.
Read More
Tyson cuts profit forecast, says slaughterhouse fire among challenges
TSN (Tyson Foods Inc.) | Financial Post
U.S. meat processor Tyson Foods Inc on Tuesday lowered its 2019 adjusted earnings forecast citing short-term challenges due to commodity market volatility, slower-than-expected operational improvements in the chicken segment, and the impact of a recent fire at its slaughterhouse in Holcomb. Tyson now expects to earn an adjusted profit between $5.30 and $5.70 per share, from a prior outlook of $5.75 to $6.10 per share. Tyson said challenges also include margin compression related to a reversal of a gain on mark-to-market grain derivatives recognized in the third quarter, and implementation of enhanced food safety initiatives. “The discrete challenges we’ve encountered this quarter now lead us to believe we will fall short of our previously stated guidance,” Noel White, Tyson Foods’ Chief Executive Officer said. However, he added Tyson’s outlook for fiscal 2020 remains positive, as it does not expect the challenges to repeat and expects more favorable market conditions.
Read More
Microsoft Investigating Windows 10 Cortana High CPU Issues
MSFT (Microsoft Corporation) | Bleeping Computer
Microsoft has confirmed that they are investigating reports of high CPU usage in the SearchUI.exe component of Cortana after users install the Windows 10 v1903 KB4512941 cumulative update. In a Twitter post from the Windows Update team, Microsoft has stated that they are investigating the issue and will provide a fix in an upcoming release. "We are currently investigating an issue where users are reporting high CPU usage linked to SeachUI.EXE after installing the optional update on August 30 (KB4512941). the SearchUI.exe Cortana process would use up a lot of the PC's CPU or get sudden CPU spikes. High CPU Usage in CortanaThis issue appears to be a bug in the latest version of Cortana that occurs when users have disabled the ability to send local searches to Bing.
Read More
Ford finds buyer for Brazil plant, but new owner could cut 1,300 jobs
F (Ford Motor Company) | Reuters
CAOA and Ford have been negotiating the purchase since late February, Reuters reported at the time, when Sao Paulo state Governor Joao Doria rushed to find a buyer for the plant in a push to keep jobs in the city.
Read More
Air Canada files challenge over Onex’s $5B purchase of WestJet
ACDVF (Air Canada Inc) | Financial Post
Air Canada is raising concerns that WestJet Airlines Ltd. may not be Canadian enough to comply with federal airline ownership rules if regulators approve Onex Corp.’s $5-billion purchase of its top rival. Onex, which failed to buy Air Canada in a hostile takeover 20 years ago, announced the friendly deal with WestJet in May and has since won approval from the Competition Bureau and WestJet shareholders. Air Canada noted that Onex’s by-laws require only 25 per cent of its board to be Canadian when federal law requires no less than 50 per cent of airline board members be Canadians appointed by Canadian shareholders. But Air Canada questioned who would really control WestJet if the Onex deal wins approval. Co-investors in that entity could have significant rights or power to exert control, Air Canada argued in an Aug. 15 letter.
Read More
Cleveland federal judge won’t dismiss claims that say drug makers fueled opioid epidemic
Purdue Pharma | Cleveland
CLEVELAND, Ohio — A federal judge in Cleveland dealt a blow to drug companies seeking the dismissal of several claims in lawsuits that accuse them of fueling the opioid epidemic, paving the path for a trial scheduled to begin in October. He refused efforts by drug companies to dismiss claims accusing them of civil conspiracy, racketeering and causation, among others. “… A factfinder could reasonably infer these failures were a substantial factor in producing the alleged harm suffered by Plaintiffs,” the judge wrote. Purdue Pharma is also in talks to settle all the lawsuits it faces in state and federal courts nationwide for a reported $10-12 billion.
Read More
Western Digital starts sampling 18TB, 20TB SMR HDDs for data centers
WDC (Western Digital Corporation) | ZDNet
Western Digital said it will sample its 18TB and 20TB capacity hard drives by the end of the year as it targets data center customers in the first half of 2020. Western Digital said it is combining its nine-disk mechanical platform and energy assisted recording to meet data center requirements of customers like Dropbox. SMR drives are expected to offer cost savings over PMR (Perpendicular Magnetic Recording) drives. For the last year, Western Digital has been working to make SMR performance equal to PMR drives. The drives that are being sampled will join Western Digital's portfolio of HDDs ranging from 10TB to 14TB to 18TB to 20TB drives in various configurations.
Read More
Intel Unit Case Could Mean Billions In Taxes For Big Tech
INTC (Intel Corporation) | PYMNTS
A tax dispute between Intel and the Internal Revenue Service could cost large technology companies billions of dollars, according to a report by The Wall Street Journal. Altera Corp, acquired by Intel, which inherited the case, sued the IRS in 2012. Since then more than 20 companies have revealed how they think the case could affect them financially. Facebook disclosed a $1.1 billion tax expense due to the case, and Alphabet turned around on a $418 million benefit. In other countries, reporting lower costs means lower tax rates, which was fortuitous for many companies, especially before a 2017 tax overhaul that closed the gap between the rates.
Read More
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* Stocks or companies mentioned: GOOG, UBER, AMZN, TSN, MSFT, F, ACDVF, Purdue Pharma, WDC, and INTC
Dozens of states prepare antitrust probe of Google's advertising practices
GOOG (Alphabet Inc.) | CNN
More than half of the country's state attorneys general are readying an antitrust investigation into Google's advertising practices, with an announcement of the probe set for next week in Washington, two sources familiar with the matter told CNN. The Washington Post was The announcement is expected to be made on September 9near the US Supreme Court, one of the sources said. The Washington Post was first to report the expected announcement. While the announcement will focus on Google, other companies could be drawn in by the states — either as targets of other investigations or to serve as effective witnesses. "With all the investigations going on, there'll be multiple cases against multiple defendants on multiple theories [of harm]," another source said.
Read More
Uber and Lyft close at record lows as investors lose faith in ride-sharing companies
UBER (Uber Technologies Inc) | CNBC
Shares of Uber and Lyft fell to fresh lows on Tuesday, posting their lowest close ever, as the ride-hailing companies face growing skepticism from investors. Uber closed down 5.7% to $30.70, falling below its previous low of $32.57 on Aug. 30. The stock dropped as low as $45.40 on Tuesday, touching a new intraday low. Uber reported a net loss of $5.24 billion for its second quarter of 2019, blaming stock-based compensation costs. By comparison, Lyft lost $644.2 million in the second quarter, representing a significant jump from the $178.9 million it lost a year earlier.
Read More
Amazon testing payment system for Whole Foods that uses hands as ID
AMZN (Amazon.com Inc.) | New York Post
Forget the titanium Apple Card — Amazon’s latest payment method uses flesh and blood. The system, code-named “Orville,” will allow customers with Amazon Prime accounts to scan their hands at the store and link them to their credit or debit card. Amazon hopes to introduce the tech to a handful of its Whole Foods stores by the beginning of next year, and to eventually expand the super-fast checkout tech to all US locations. “You only have to walk into Whole Foods to see the massive lines of people waiting to check out. Nevertheless, experts say it’s unclear whether customers will be enthusiastic about scanning their hands at Whole Foods.
Read More
Tyson cuts profit forecast, says slaughterhouse fire among challenges
TSN (Tyson Foods Inc.) | Financial Post
U.S. meat processor Tyson Foods Inc on Tuesday lowered its 2019 adjusted earnings forecast citing short-term challenges due to commodity market volatility, slower-than-expected operational improvements in the chicken segment, and the impact of a recent fire at its slaughterhouse in Holcomb. Tyson now expects to earn an adjusted profit between $5.30 and $5.70 per share, from a prior outlook of $5.75 to $6.10 per share. Tyson said challenges also include margin compression related to a reversal of a gain on mark-to-market grain derivatives recognized in the third quarter, and implementation of enhanced food safety initiatives. “The discrete challenges we’ve encountered this quarter now lead us to believe we will fall short of our previously stated guidance,” Noel White, Tyson Foods’ Chief Executive Officer said. However, he added Tyson’s outlook for fiscal 2020 remains positive, as it does not expect the challenges to repeat and expects more favorable market conditions.
Read More
Microsoft Investigating Windows 10 Cortana High CPU Issues
MSFT (Microsoft Corporation) | Bleeping Computer
Microsoft has confirmed that they are investigating reports of high CPU usage in the SearchUI.exe component of Cortana after users install the Windows 10 v1903 KB4512941 cumulative update. In a Twitter post from the Windows Update team, Microsoft has stated that they are investigating the issue and will provide a fix in an upcoming release. "We are currently investigating an issue where users are reporting high CPU usage linked to SeachUI.EXE after installing the optional update on August 30 (KB4512941). the SearchUI.exe Cortana process would use up a lot of the PC's CPU or get sudden CPU spikes. High CPU Usage in CortanaThis issue appears to be a bug in the latest version of Cortana that occurs when users have disabled the ability to send local searches to Bing.
Read More
Ford finds buyer for Brazil plant, but new owner could cut 1,300 jobs
F (Ford Motor Company) | Reuters
CAOA and Ford have been negotiating the purchase since late February, Reuters reported at the time, when Sao Paulo state Governor Joao Doria rushed to find a buyer for the plant in a push to keep jobs in the city.
Read More
Air Canada files challenge over Onex’s $5B purchase of WestJet
ACDVF (Air Canada Inc) | Financial Post
Air Canada is raising concerns that WestJet Airlines Ltd. may not be Canadian enough to comply with federal airline ownership rules if regulators approve Onex Corp.’s $5-billion purchase of its top rival. Onex, which failed to buy Air Canada in a hostile takeover 20 years ago, announced the friendly deal with WestJet in May and has since won approval from the Competition Bureau and WestJet shareholders. Air Canada noted that Onex’s by-laws require only 25 per cent of its board to be Canadian when federal law requires no less than 50 per cent of airline board members be Canadians appointed by Canadian shareholders. But Air Canada questioned who would really control WestJet if the Onex deal wins approval. Co-investors in that entity could have significant rights or power to exert control, Air Canada argued in an Aug. 15 letter.
Read More
Cleveland federal judge won’t dismiss claims that say drug makers fueled opioid epidemic
Purdue Pharma | Cleveland
CLEVELAND, Ohio — A federal judge in Cleveland dealt a blow to drug companies seeking the dismissal of several claims in lawsuits that accuse them of fueling the opioid epidemic, paving the path for a trial scheduled to begin in October. He refused efforts by drug companies to dismiss claims accusing them of civil conspiracy, racketeering and causation, among others. “… A factfinder could reasonably infer these failures were a substantial factor in producing the alleged harm suffered by Plaintiffs,” the judge wrote. Purdue Pharma is also in talks to settle all the lawsuits it faces in state and federal courts nationwide for a reported $10-12 billion.
Read More
Western Digital starts sampling 18TB, 20TB SMR HDDs for data centers
WDC (Western Digital Corporation) | ZDNet
Western Digital said it will sample its 18TB and 20TB capacity hard drives by the end of the year as it targets data center customers in the first half of 2020. Western Digital said it is combining its nine-disk mechanical platform and energy assisted recording to meet data center requirements of customers like Dropbox. SMR drives are expected to offer cost savings over PMR (Perpendicular Magnetic Recording) drives. For the last year, Western Digital has been working to make SMR performance equal to PMR drives. The drives that are being sampled will join Western Digital's portfolio of HDDs ranging from 10TB to 14TB to 18TB to 20TB drives in various configurations.
Read More
Intel Unit Case Could Mean Billions In Taxes For Big Tech
INTC (Intel Corporation) | PYMNTS
A tax dispute between Intel and the Internal Revenue Service could cost large technology companies billions of dollars, according to a report by The Wall Street Journal. Altera Corp, acquired by Intel, which inherited the case, sued the IRS in 2012. Since then more than 20 companies have revealed how they think the case could affect them financially. Facebook disclosed a $1.1 billion tax expense due to the case, and Alphabet turned around on a $418 million benefit. In other countries, reporting lower costs means lower tax rates, which was fortuitous for many companies, especially before a 2017 tax overhaul that closed the gap between the rates.
Read More
Download Folo, add stock symbols to your watchlist, and get notified.
When you look up U.S or China stock symbols and add them to Watchlist, Folo, an A.I. based news curator will keep you updated with stock news from 270 sources.
Download on the App Store
http://folo.moya.ai
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