Zoom Video Communications Inc (NASDAQ: ZM) announced Wednesday the availability of its video conferencing services on smart displays made by major companies.What Happened Zoom users would be able to access the video conference service on smart displays such as Facebook Inc's (NASDAQ: FB) Portal, Alphabet Inc's (NASDAQ: GOOGL) (NASDAQ: GOOG) Google Next Hub Max, and Amazon.com, Inc's (NASDAQ: AMZN) Echo Show beginning later this year, the company said in a statement. Facebook Portal users in select regions can begin using the service in September, while other smart display users can do so by late fall, according to Zoom.Those using Google and Amazon devices would be able to use respective smart assistants to launch video conferencing.Why It Matters In July, the San-Jose based company launched a standalone 9 tablet-like device of its own that it said was aimed at employees grappling with a "new normal of work."The Mark Zuckerberg-led social media giant...
Xilinx Inc and Subaru Corp on Wednesday said the Japanese automaker will use one of the Silicon Valley company's chips to power a new driver-assistance system that will let drivers go hands-free during traffic jams, among other new features. The companies said Subaru's forthcoming Levorg, a midsized hatchback vehicle, will use one of Xilinx's "Zynq" chips in a new version of its "EyeSight" driver-assistance system. The system uses two cameras to get a stereo field of view of the road and combines that data with input from radar sensors mounted around the vehicle rather than using more expensive sensors such as lidar, which uses laser light to measure the car's distance away from objects....
Intel Corporation (NASDAQ: INTC) shares jumped in the after-hours session Wednesday as the company said it was entering into accelerated share repurchase agreements to buy a total of $10 billion of the company's common stock.What Happened Upon the completion of the agreements, the chipmaker will have purchased nearly $17.6 billion in shares as a part of its share buyback plan announced in October 2019, the company said in a statement.The Santa Clara, California-based company said it would purchase 166 million shares under one such agreement, which is set to be completed by the end of this year."While the macro-economic environment remains uncertain, Intel shares are currently trading well below our intrinsic valuation, and we believe these repurchases are prudent at this time," said Intel CEO Bob Swan.The company's shares have declined by almost 19% in the past month. Why It Matters Intel recorded second-quarter earnings per share of $1.23, which beat...
The company, with a market cap that has eclipsed Intel Corp, also beat Wall Street expectations for the second quarter. Before the market close on Wednesday, Nvidia's shares had gained more than 185% over the past year and with a valuation of about 53 times expected earnings over the next 12 months. Nvidia said it expects third-quarter revenue of $4.40 billion, plus or minus 2%, compared with analysts' estimates of $3.97 billion, according to IBES data from Refinitiv....
California's efforts to force gig economy companies to comply with state labor law may come to a head this week, with Uber and Lyft threatening to shut down their service midnight Friday....
(Bloomberg) -- Gold will extend its record-setting rally on “massive currency debasement” and expectations for further stimulus, according to SkyBridge Capital, which recently added exposure to the metal after exiting in 2011.“When you think of currency debasement the question is, what is the dollar going to weaken against, and when you look around the globe, it’s hard to be excited about alternative currencies,” said Troy Gayeski, co-chief investment officer and senior portfolio manager, listing the euro, yuan and emerging-market monies. “So, gold is obviously a natural alternative currency.”The precious metal surged to a record well above $2,000 an ounce earlier this month -- although prices have stumbled since then -- as central banks including the Federal Reserve unleashed vast stimulus to support economies hurt by the coronavirus pandemic. That’s spurred bets that paper currencies will lose their value as money supply jumps. Goldman Sachs Group Inc. calls gold the currency of...
