Thursday, 17 Jun 2021

Evolve: Innovations in Cybersecurity ft. John Demers, Michael Orlando & Tech Leaders from SAP & Honeywell

Stock Alert: Globant Trading 3% Higher

Shares of Argentinian software company Globant S.A. (GLOB) are up 3 percent on Wednesday’s trading.

The company recently said it plans to offer and sell 1 million common shares through an underwritten public offering. All the shares will be sold by the company itself.

Globant plans to use the proceeds from this offering for general corporate purposes, like working capital, operating expenses and capital expenditures. A certain portion of the proceeds will also be used to fund acquisitions, the company added.

The stock is at present trading at $223.68, up $7.54 or 3% on the NYSE. GLOB has traded between $130.92 and $244.72 during the past 52 weeks.

U.S. Jobless Claims Drop Again, Hit The Lowest Level Since Mid-March 2020

Data released by the Labor Department Thursday morning showed unemployment claims in the U.S. dropped by slightly more than expected in the week ending May 15th.

The data showed that initial unemployment claims in the U.S. fell to 444,000 last week, down from a revised 478,000 claims in the previous week. Economists had expected unemployment claims to drop to around 450,000 in the week ending May 15th.

The much bigger than expected decrease in jobless claims makes the number the lowest since the week ended March 14, when it had dropped to 256,000.

The Labor Department’s data also showed that the number of continuing claims unexpectedly rose by 111,000 last week to 3.75 million, hitting a seven-week high.

The four-week moving average of US jobless claims, which removes week-to-week volatility, dropped to a fourteen-month low of 504,750 in the week, down from a revised 535,250 in the previous week.

Stock Alert: OneConnect Financial Slips 18%

Shares of OneConnect Financial Technology Co., Ltd. (OCFT) are trading down 18 percent on Thursday despite lack of any stock-related news that could impact its movement.

OneConnect Financial recently posted net loss of RMB305 million in the first quarter, lower than net loss of RMB415 million in the year-ago quarter. On a per ADS basis, net loss was RMB0.83, compared to RMB1.20 last year.

Revenues climbed 41.1 percent to RMB820 million from RMB581 million in the prior-year quarter.

The stock is currently trading at $15.28, down $3.40 or 18%, on the NYSE. OCFT has traded between $11.98 and $28.80 during the past 52 weeks.

As concerns over Olympics grow, Tokyo organizers say Games will go on

The possibility of canceling or postponing this summer’s Olympics or Paralympics was not raised at a Tokyo 2020 board meeting Wednesday, despite a major Japanese newspaper calling for the Games to be scrapped.

There is widespread opposition to the Tokyo Games in Japan, which is experiencing a surge in COVID-19 cases. But the editorial in the Asahi Shimbun earlier Wednesday, which cited concerns the Olympics and Paralympics would lead to further outbreaks and overwhelm Japan’s health care system, was notable because the paper is a sponsor of the Olympics.

“Nobody has explicitly mentioned a view that we should postpone or cancel,” Tokyo 2020 CEO Toshiro Muto said at a news conference following the board meeting.

Muto downplayed the paper’s opposition, saying “different press organizations have different views, different perspectives on matters.”

British Land FY21 Pre-tax Loss Narrows, Revenues Down; Declares Dividend

Property development and investment company British Land Co. Plc (BRLAF.PK,BTLCY.PK,BLND.L) reported Wednesday that its fiscal 2021 loss before taxation was 1.05 billion pounds, compared to last year’s loss of 1.12 billion pounds.

IFRS basic loss per share was 111.2 pence, compared to 110.0 pence a year ago.

Underlying Profit was 201 million pounds, compared to last year’s 306 million pounds, primarily reflecting an increase in provisions for rent receivables.

Underlying earnings per share were 18.8 pence, compared to 32.7 pence a year ago.

Revenue declined to 468 million pounds from last year’s 613 million pounds.

Further, the company announced a full year dividend of 15.04p with the payment of final dividend in August 2021.

Jeff Bezos to formally step down as Amazon CEO on July 5, Andy Jassy to take over

  • Jeff Bezos will formally step down as Amazon CEO on July 5, he announced Wednesday at the company's annual shareholder meeting.
  • Andy Jassy, Amazon's cloud-computing boss, will take over Bezos' role.
  • Once he steps down, Bezos will transition to executive chairman of Amazon’s board.

Amazon CEO Jeff Bezos will step down on July 5, turning the helm over to cloud-computing boss Andy Jassy.

"We chose that date because it's sentimental for me, the day Amazon was incorporated in 1994, exactly 27 years ago," Bezos said Wednesday at Amazon's annual shareholder meeting, which was held virtually.

Amazon announced in February that Bezos would leave his post later this year. Bezos will transition to executive chairman of Amazon's board and is expected to dedicate more time toward initiatives like the Bezos Earth Fund, his Blue Origin spaceship company, The Washington Post and the Amazon Day 1 Fund.

The company had kept its succession plans quiet, though onlookers speculated that either Jassy or Jeff Wilke, who retired from his post as head of Amazon's worldwide consumer business last August, would be Bezos' eventual successor.

Evolve: Innovations in Cybersecurity ft. John Demers, Michael Orlando & Tech Leaders from SAP & Honeywell

The effects of the global pandemic extend far beyond health concerns. With the rise of digitization and millions of people working remotely, even as organizations look toward some form of a workplace return, the attack surfaces for cyber criminals have never been higher. It's incumbent upon the most forward-looking technology leaders – from the public and private sectors – to adopt robust and transformative approaches to stay ahead of these ever-rising threats.

On May 26, the CNBC Evolve: Innovations in Cybersecurity will dissect efforts to protect our nation's cyber infrastructure and identify threats, with actionable advice on ways the government and private enterprise can work together to anticipate threats before they happen in conversations led by CNBC's Eamon Javers. Featured speakers include: John Demers, Department of Justice's National Security Division Assistant Attorney General, Michael Orlando, National Counterintelligence and Security Center Acting Director, Elena Kvochko, SAP Chief Trust Officer and Suresh Venkatarayalu, Honeywell Chief Technology Officer.

 Sponsored by Accenture

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