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Chip-related stocks fell at a faster rate than the broader market Monday as coronavirus fears rattled investors, but analysts contend that the outbreak could have a positive effect for some domestic semiconductor companies. The PHLX Semiconductor Index SOX, -3.91% sank 3.9% to close at 1,848.86, for its worst day since Aug. 23, when the index fell 4.4%. The index closed at […]
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Finance is changing rapidly through mergers and acquisitions, but not rapidly enough. There will be tremendous pressure for traditional payment processors to get with the times and adopt blockchain, or else they will be left behind by lower-cost competitors. Visa V, -0.74% on Jan. 13 said it plans to acquire Plaid, a back-end software company that helps applications connect to user […]
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Advanced Micro Devices Inc.’s sales of server chips may get heightened scrutiny following a surprise jump in data-center sales reported by larger rival Intel Corp. AMD AMD, -2.63% shifted the power balance against bigger rival Intel Corp.INTC, +8.13% last year as it released its 7-nm “Rome” chips while Intel failed to bring its 10-nm chip to the market. In chip parlance, nanometers, […]
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Facebook Inc. surges into its fourth-quarter earnings report Wednesday with some long-term questions. Front and center: Could future revenue be hampered by the company’s recent decision not to pursue advertising on WhatsApp, its popular platform of more than 1.5 billion members each month that Facebook FB, -0.70% laid out $19 billion for in 2014? See also: Facebook backs away from […]
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Intel Corp. wrapped up a rocky 2019 by reporting record sales thanks to a big jump in sales of chips for data centers and cloud computing, but that rebound may just be temporary. The chip giant reported Thursday that its quarterly revenue surged past $20 billion for the first time ever at the end of 2019, fueled in part by […]
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The U.S. grain market did not see much of a reaction after Washington and Beijing made phase one of their trade agreement official this week, and it will take time before commodities such as soybeans, wheat and corn benefit from China’s pledge to buy more agricultural products. “We really didn’t expect the Chinese to immediately step in and buy with […]
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LAUSANNE, Switzerland (AP) — Alibaba’s promise to the Olympic family is to bring its technological might to help organizers, broadcasters and fans. The Chinese tech giant’s Olympic sponsorship deal is worth hundreds of millions of dollars and runs for 12 years, starting in 2017 and continuing through the upcoming Tokyo Games and the 2022 Winter Games in Beijing and into […]
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The largest player in credit cards is moving further beyond the traditional card-swiping model amid the rise of newer fintech options like Venmo and Betterment. Visa Inc. V, +0.81% announced Monday afternoon that it plans to acquire financial-technology upstart Plaid for $5.3 billion, including $4.9 billion of cash consideration and the rest in retention equity and deferred equity. Plaid, valued […]
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Zscaler Inc. shares led strong gains in the cybersecurity sector Monday after the company’s most bullish analyst doubled down on his investment thesis. Zscaler ZS, +8.44% shares rallied 8.1% to $59.47 in recent activity, following an intraday high of $59.58. Shares are up nearly 28% since the beginning of 2020. In a note Monday, Needham analyst Alex Henderson, who has a […]
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Constellation Brands Inc. said it will make its biggest-ever single-brand investment to launch its Corona brand hard seltzer this spring — $40 million. Corona hard seltzer will come in four flavors: tropical lime, mango, cherry and blackberry lime. Retailers have already made space on the shelves for the new brand, said William Newlands, Constellation’s chief executive officer, who talked about […]
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