1) Why The Tech Giants Have Many CEOs Running Scared
Why are chief executive officers so worried about tech giants investing in their sectors? James Fontanella-Khan, the FT’s US corporate finance and deals expert, explains how legacy companies are trying to fight the disruptors and stay relevant by making risky acquisitions. Financial Times (ft.com) video above published Apr 5, 2019. Learn more at https://bigdeal.ft.com/.
2) SpaceX ARABSAT-6A Falcon Heavy Launch and Triple Landing Highlights
Highlights from the 11 April 2019 launch from Cape Canaveral, Florida, USA.
The Week: NASDAQ Composite +0.6% | S&P 500 Index +0.5% | DJIA -0.1%
• Survey: which US sector will outperform for the remainder of the year? "Tech" #1
• US: Initial Jobless Claims Plunge To Lowest In 50 Years--zerohedge.com. Inflation? Less than 2%. Fed Funds Rate? Less than 3%. Hedge funds have 'once again missed much of the recent move in stocks'--zerohedge.com.We have the results of last week's DataTrek Market Outlook Survey! Tech was the #1 choice among respondents when asked "which US sector will outperform the most over the remainder of the year?" Read the rest of the results & our analysis here: https://t.co/CjRYMvEmuE $SPY $XLK pic.twitter.com/YD0VgaaamU— DataTrek Research (@DataTrekMB) April 8, 2019
• EU: IMF sharply downgrades its outlook for euro-area economies--bloomberg.com. SocGen Slashing 1,600 Trading Jobs After 19% Loss--750 jobs in France will go as part of cuts--bloomberg.com. The French bank's share price has declined 40 percent in the last 12 months, compared with a 17 percent drop in the Euro STOXX Banks Index. Europe, The Big Short--seekingalpha.com.
• Brexit: the UK economy has been drifting away from Europe for years: one of five reasons why--"... the EU is stagnating ..."--telegraph.co.uk. Nonetheless, UK's political class apparently can't let go.
- China's Debt Bomb Is Back: Beijing Injects Most Ever Credit For Month Of March.
- Buying Baidu Ahead Of The Science and Technology Board Launch?
• Real Estate? A Simon Property Group Mall Generates Largest Loss Ever for Retail CMBS How the Brick & Mortar Meltdown works for Commercial Mortgage-Backed Securities after America’s largest mall landlord defaults on a mortgage and walks away from the mall--wolfstreet.com. See also US housing market deteriorates, shift to a buyer's market accelerates, U.S. markets will have the highest percentage of homes that sell at discount versus the list price in many years----2Q19 National Knock Deals Report.
• Asset prices in the modern era: In Barron’s this past weekend, J.P Morgan chief U.S. equity strategist Dubravko Lakos-Bujas:
We are all used to using the word “cycle”; we’re all used to looking at historical charts and graphs and equations and relationships. The reality is that maybe the word “cycle” is no longer even relevant, given that we have so much unconventional central-bank involvement.
4) ICYMI Tech News:
1) Amazon Shares Are Headed Higher From Here; 2) “Project Kuiper” plans to launch over 3,000 satellites offering broadband internet. See also Inside Eero's $97 million fire sale to Amazon--mashable.com, and Amazon buys warehouse robotics startup Canvas Technology.
Huawei: "How did a private Chinese firm come to dominate the world’s most important emerging technology?--One theme is clear: Throughout its history, Huawei appears to have benefited from state support not available to the company’s Western rivals ... European investigators have found evidence that Huawei may have received a massive $30 billion line of credit from the China Development Bank, among other well-timed financing ..."--foreignpolicy.com. [Editor's note: all Chinese companies are SOEs to one degree or another.]
Qualcomm aims to take on Nvidia, Intel with new AI chips.
SAP cloud business head quits after 27 years in latest top departures--under a restructuring announced in January about 4400 positions will be eliminated. SAP rival Oracle has also announced some layoffs with some of its top talent going to Google.
Grab (domain: grab.com) seeks another $2 billion funding. The Southeast Asian startup, based in Singapore, is backed by Japan's SoftBank.
Lyft's stock slide casts long shadow on Uber's IPO:
Boeing 737Max: another chapter in the book titled Normalization of Deviance?
Disney announced Thursday its new family-friendly streaming service will cost $7 monthly or $70 annually.
- Investigation shows how easy and affordable obtaining cellphone customers' real-time location data can be, as T-Mobile, Sprint, and AT&T peddle it to middlemen.
- The Robocall Crisis Will Never Be Totally Fixed--"Always hang up immediately if you answer a call that you don't recognize"--wired.com.
-- John Poole, Editor, Domain Mondo
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