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Kamis, 18 Juli 2019

Netflix miss; Trade and earnings; Markets slide - CNN

The company added 2.7 million new subscribers in the second quarter of 2019, according to its earnings report released Wednesday. That's just over half of 5 million new subscribers that analysts had been expecting.

Netflix (NFLX) shares are set to fall 11% when US markets open.

It's a blow to the company at a time when competition with companies such as Disney (DIS) and CNN parent AT&T (T) is heating up.

Both rivals are expected to launch their own streaming services in the next year, causing Netflix to lose access to some popular shows like "Friends."

Next up among American tech giants: Microsoft (MSFT), which releases its results for the three months ending in June after US markets close.

2. Trade and earnings: Rising trade tensions are hurting Europe's most valuable tech company.

German business software group SAP (SAP) said Thursday that second quarter profits dropped 21% to €827 million ($930 million) because of restructuring costs and trade uncertainty.

SAP said that revenue from software licenses dipped 5% due to "trade-related uncertainty in Asia."

Investors had been expecting better results, and shares in the company dropped 7% in Frankfurt despite the group reiterating its full-year outlook.

It's the latest company to take a hit from the trade war between the United States and China. Car companies are particularly worried about tariffs at a time when auto sales are slowing.

3. Market dip: Markets are sliding as resurfaced trade concerns eat into investor optimism.

The Dow could fall 90 points, or 0.3%, when US markets open. The S&P 500 is poised to drop 0.3%, and the Nasdaq is tracking 0.4% lower.

European markets opened in the red. Britain's FTSE 100 dropped 0.7% in early trading, while Germany's DAX shed 0.9%.

That follows a tough trading session for stocks in Asia. Hong Kong's Hang Seng dropped 0.5%, while Japan's Nikkei shed 2%.

The Dow closed down 0.4% on Wednesday. The S&P 500 lost 0.7% and the Nasdaq fell 0.5%.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

4. Coming this week:
Thursday — Japan inflation; Morgan Stanley (MS), Philip Morris (PM), Honeywell (HON), Microsoft (MSFT) earnings
Friday — American Express (AXP) and BlackRock (BLK) earnings; University of Michigan consumer sentiment

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https://www.cnn.com/2019/07/18/investing/premarket-stocks-trading/index.html

2019-07-18 09:39:00Z
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Korean YouTuber attacked for eating mochi amid trade war with Japan - Korea Times

MINEE EATS' mukbang videos on YouTube this month featured the uploader eating warabi mochi, top, and kiri mochi. Screen capture from YouTube

By Ko Dong-hwan

The MINEE EATS operator is introduced on YouTube as Kim Min-hee and is based in Georgia, in the U.S. Screen capture from YouTube

A Korean YouTuber who uploaded videos of herself eating Japanese food has drawn flak amid the ongoing South Korea-Japan trade war.

The mukbang uploader of MINEE EATS posted the video on July 14, in which she ate warabi mochi, a jelly-like confection covered with sweet toasted soybean flour.

The video sparked online criticism that it ignored the Korea-wide anti-Japan movement that involves boycotts of Japanese products at supermarkets and major shopping centers.

The movement emerged after Japanese Prime Minister Shinzo Abe excluded South Korea from its "white list," restricting Japanese exports of semiconductor-building materials to South Korea, the world's chip-making industry leader.

Hours later, she removed the video. She said the move reflected "many Korean viewers who were disgusted by the video," adding that her eating the mochi "by no means had any notion of my political proclivity."

Two days before, she posted a video of herself eating malatang with kiri mochi, another Japanese confection similar to warabi mochi.

Before her latest mochi videos, she had attracted criticism for calling gimbap "Korean sushi." Gimbap, hand-rolled steamed rice and various ingredients in dried seaweed, has been one of Korea's most popular street foods. She also aroused controversy for calling Korean traditional glutinous rice cake "chapssaltteok" a mochi.

The uploader, according to the video platform, is Kim Min-hee, who is based in Marietta, Georgia, in the United States. She has over 1.3 million subscribers.

Kim calls herself a "food lover" and "ASMR (autonomous sensory meridian response) specialist" on YouTube, referring to the video content genre where food-eating sounds are exaggerated to provoke viewers' responses. MINEE EATS has been posting the mukbang content since 2017.

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http://www.koreatimes.co.kr/www/art/2019/07/398_272501.html

2019-07-18 05:06:00Z
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Rabu, 17 Juli 2019

Amazon says this year's Prime Day surpassed Black Friday and Cyber Monday combined - CNBC

Amazon said it sold more than 175 million items during this year's Prime Day shopping event, more than its sales for the past Black Friday and Cyber Monday combined.

The online retailer, which didn't disclose an actual sales figure in the press release, called the two-day sale across 18 countries its "largest shopping event in Amazon history." Last year's Prime Day only ran for 36 hours.

It also said that on Monday and Tuesday it sold more Amazon devices — like the Echo Dot, the Fire TV Stick and Alexa Voice Remote — over a two-day period than it ever has before.

A "record number" of Prime members in the U.S., which pay an annual fee of $119 to get perks like free shipping and access to Prime Day, shopped the event this year, Amazon said. It said it added more new Prime members on July 15 than it ever has before on a single day. And it said almost as many people signed up again on July 16.

Amazon disclosed for the first time last April that it had more than 100 million paying Prime members worldwide. It hasn't provided an update to that figure since then.

"We want to thank Prime members all around the world," Amazon CEO Jeff Bezos said in a statement. "Members purchased millions of Alexa-enabled devices, received tens of millions of dollars in savings by shopping from Whole Foods Market and bought more than $2 billion of products from independent small and medium-sized businesses. Huge thank you to Amazonians everywhere who made this day possible for customers."

Amazon has recently started rolling out a one-day shipping option across the country for Prime members, and it called this year's Prime Day "the fastest ever." Previously, the default shipping option for Prime members was for two days.

Amazon said it sold over 100,000 laptops, 200,000 televisions, 300,000 headphones, 350,000 luxury beauty products and more than 1 million toys on Prime Day this year.

In the U.S., it said top-selling items were the LifeStraw Personal Water Filter, the Instant Pot DUO60 and 23andMe Health + Ancestry kits.

A boost to all

Prime Day 2019 also delivered a boost to sales for Amazon's rivals, many of which have been touting their own deals all week to compete.

The 48-hour shopping extravaganza gave large retailers a boost in online sales of 68%, on average, according to Adobe Analytics, which measures the transactions of 80 of the top 100 internet retailers in the U.S. Adobe classifies large retailers as companies that make more than $1 billion in annual revenues.

Niche retailers, which Adobe classifies as those that bring in less than $5 million in annual sales, saw a 28% lift in digital sales, according to the firm. Last year, niche retailers saw a decrease in sales, Adobe said.

Walmart, Target, eBay, Macy's and Best Buy have all been running deals this week. Target pushed discounts for its in-house home goods brands. Walmart is expected to run deals, on everything from Google Home smart speakers to Instant Pots, through Wednesday.

"Prime Day has become an indisputable summer shopping holiday, greatly benefiting online retailers that can attract consumers to their site through compelling email campaigns or offering value-add services like buy online, pick up in-store," said Jason Woosley, vice president of Adobe's Commerce Product division.

Amazon's website also experienced a major glitch during Prime Day 2018, potentially giving rivals an even bigger boost when shoppers couldn't order through Amazon. But that wasn't the case this year.

Catchpoint, which monitors websites' performance rates, said Amazon "did an amazing job staying technically available and loading fast under heavy traffic during Prime Days."

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https://www.cnbc.com/2019/07/17/amazon-announces-prime-day-2019-results.html

2019-07-17 14:28:58Z
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Amazon says this year's Prime Day surpassed Black Friday and Cyber Monday combined - CNBC

Amazon said it sold more than 175 million items during this year's Prime Day shopping event, more than its sales for the past Black Friday and Cyber Monday combined.

It also said that on Monday and Tuesday it sold more Amazon devices — like the Echo Dot, the Fire TV Stick and Alexa Voice Remote — over a two-day period than it ever has before.

Amazon disclosed for the first time last April that it had more than 100 million paying Prime members worldwide. It hasn't provided an update to that figure since then.

Amazon said it sold over 100,000 laptops, 200,000 televisions, 300,000 headphones, 350,000 luxury beauty products and more than 1 million toys on Prime Day this year.

In the U.S., it said top-selling items were the LifeStraw Personal Water Filter, the Instant Pot DUO60 and 23andMe Health + Ancestry kits.

A boost to all

Prime Day 2019 also delivered a boost to sales for Amazon's rivals, many of which have been touting their own deals all week to compete.

Amazon's website also experienced a major glitch during Prime Day 2018, potentially giving rivals an even bigger boost when shoppers couldn't order through Amazon. But that wasn't the case this year.

Catchpoint, which monitors websites' performance rates, said Amazon "did an amazing job staying technically available and loading fast under heavy traffic during Prime Days."

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https://www.cnbc.com/2019/07/17/amazon-announces-prime-day-2019-results.html

2019-07-17 13:33:28Z
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Elon Musk touts brain implant technology to treat health conditions, enable 'telepathy' - USA TODAY

Nathan Bomey USA TODAY

Published 9:46 AM EDT Jul 17, 2019

Elon Musk has revealed that his stealth neurotechnology start-up is poised to begin human clinical trials soon on brain implants.

Musk's Neuralink gave a presentation late Tuesday and released a white paper divulging details of its progress on implants that could eventually enable patients to overcome devastating injuries.

The company, which has been pursuing the technology for years with Musk's financial backing and leadership, touted its initial results as promising for potentially treating conditions such as Alzheimer's, spinal injuries and blindness.

Neuralink executives said they're aiming for their first human clinical study in 2020.

While still many years away from reality – and no guarantee due to the incredible challenges associated with the brain – Neuralink implants hold promise for people with spinal injuries or serious neurological disorders. Other companies are pursuing similar technology.

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Musk, who also serves as CEO of electric vehicle maker Tesla and rocket company SpaceX, emphasized that the implant development will progress "quite slowly" and that it's "quite difficult" to get approval from the Food and Drug Administration for such devices.

Nonetheless, he said it's worth the effort for the potential health benefits.

"I think it's important for us to address brain-related diseases," he said. "Whether it's an accident or congenital or any kind of brain-related disorder or a spinal disorder – if you know somebody who's broken their neck or broken their spine, we can solve that with a chip, and this is something that I think most people don't quite understand yet."

Musk said there are other possibilities in the long run, including telepathic communication among individuals with chips in their brains.

"At a kind of advanced long-term level ... if two people had a neural link, you'd be able to effectively have a sort of really high bandwidth telepathy" over radio waves, he said.

Neuralink's technology has been tested in monkeys, executives revealed.

Neuralink's beginnings: Elon Musk's Neuralink wants to plug into your brain

Musk said the company is "extremely sensitive" in work with the monkeys, which he said is done with University of California, Davis.

"A monkey has been able to control the computer with its brain," he said.

While the company's technological developments are notable, Musk said Tuesday's announcement was primarily for recruiting purposes.

"We really want to have the best talent in the world come and work at Neuralink," he said. "That's actually the primary purpose for this presentation."

Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey.

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https://www.usatoday.com/story/tech/2019/07/17/elon-musk-neuralink-brain-implants-telepathy-neurological-disorders/1753528001/

2019-07-17 12:39:00Z
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Consumers Lift Profit at Bank of America - The Wall Street Journal

Bank of America reported higher-than-expected profit for the second quarter. Photo: Kevin Hagen for The Wall Street Journal

Rachel Louise Ensign

The Wall Street Journal

Biography
@RachelEnsignWSJ
Rachel.Ensign@wsj.com

Updated July 17, 2019 7:46 am ET

U.S. consumers propelled Bank of America Corp. BAC 0.81% to an 8% increase in quarterly profit.

The Charlotte, N.C.-based bank, the second-largest in the U.S. by assets, posted a profit of $7.35 billion in the latest quarter, compared with $6.78 billion a year earlier. Per share, earnings were 74 cents. Analysts polled by FactSet had expected 71 cents per share.

Second-quarter revenue was $23.08 billion, up from $22.55 billion a year ago.

Other lenders posted earnings this week that showed strong consumer spending and borrowing but some weakness in corporate activity. Bank of America’s earnings followed that same pattern: profit was up in consumer banking and wealth management, but down in its global banking and markets that cater to corporate clients.

Higher interest rates have boosted banks’ performance since the Fed started raising them in late 2015. That is because banks were able to charge borrowers more interest without having to significantly increase payouts to depositors.

But now the Fed is signaling that it will move in the other direction and cut interest rates as soon as this month, clouding the outlook for banks’ lending businesses.

Bank of America managed to keep a lid on interest-rate increases to customers in the second quarter. The bank paid 0.77% on U.S. interest-bearing deposits in the period, compared with 0.73% in the first quarter.

Net interest income, or the difference between what a bank makes from loans or investments and the interest paid to depositors, rose 3% from a year earlier but fell about 1.5% from the prior quarter.

Loans at Bank of America were up 3% from a year earlier, while deposits rose 5% over that period. Expenses were roughly flat.

Bank of America, like other big banks, felt the effects of quiet markets in the second quarter. Trading revenue fell about 10%.

More Earnings News

Write to Rachel Louise Ensign at rachel.ensign@wsj.com

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https://www.wsj.com/articles/bank-of-america-second-quarter-profit-climbs-11563360911

2019-07-17 11:46:00Z
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Bank Of America Earnings Top; BAC Stock Backs Off Buy Point - Investor's Business Daily

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Bank Of America Earnings Top; BAC Stock Backs Off Buy Point Investor's Business Daily
Bank of America beats analysts' profit estimates on retail banking strength CNBC
Consumers Lift Profit at Bank of America The Wall Street Journal
Bank of America profit beats as healthy economy fuels loan growth Yahoo Finance
Bank of America rakes in record profit driven by strength from US households CNN
View full coverage on Google News

https://www.investors.com/news/bank-of-america-earnings-q2-2019-bac-stock-buy-point/

2019-07-17 11:37:30Z
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