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Microsoft's valuation breaks $1 trillion

Derek Strickland | Apr 29, 2019 at 03:49 pm CDT

Microsoft briefly joined the likes of Amazon and Apple in the trillion-dollar club.

Microsoft's valuation breaks $1 trillion |

On Wednesday, Microsoft reported strong FY Q3'19 earnings growth across key segments. Total revenues jumped by 14% YoY to $30.6 billion and profits spiked by a healthy 19% YoY to $8.8 billion, both of which were driven by strong services and cloud earnings. The most dramatic rise was Azure, which rocketed by 73% and was a strong contributor to the Intelligent Cloud segment's $9.7 billion revenues.

These figures prompted Microsoft's stock to rise to $130.12, the highest point in 29 years, and propelled its market capitalization briefly past $1 trillion. Only titans like Amazon and Apple have broken the trillion-dollar valuation. Right now Microsoft's shares have dropped slightly to $129.73 and the current market cap sits at $994.4 billion.

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Amazon Prime price will increase to $119 in May

Derek Strickland | Apr 26, 2018 at 06:28 pm CDT

On the heels of its latest earnings report, online retail juggernaut Amazon announced a price hike to its massively popular Prime service.

Amazon Prime price will increase to $119 in May |

Starting May 11, Amazon Prime's U.S. plan will increase from its current annual cost of $99 to $119 a year for new members, the company today revealed. The announcement was made during Amazon's first quarter earnings call, and the price hike will be used to balance the rising cost of operations. Amazon Prime has 100 million paid subscribers worldwide who enjoy free 2-day shipping alongside bonuses like TV and movie streaming as well as free monthly games via Twitch Prime.

Interestingly enough Amazon's subscription services segment (which includes Prime) raked in a huge $3.1 billion in revenue during the three-month period, up 60% year-over-year. The new $119 price will apply to renewals on or after June 16.

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Qualcomm rejects mammoth $121 billion bid from Broadcom

Anthony Garreffa | Feb 8, 2018 at 08:30 pm CST

Broadcom is waving a hell of a lot of benjamins in front of Qualcomm's face, with a huge $121 billion offer thrown onto the table last week, and once again Qualcomm has rejected the offer.

Qualcomm rejects mammoth $121 billion bid from Broadcom |

Qualcomm said that they "unanimously rejected" the "unsolicited proposal" to buy all of their shares at $82 each, up from the previous offer of $70 per share from Broadcom not too long ago. The company believes that even with the $121 billion offer, Broadcom are undervaluing Qualcomm.

The chipmaker said "your proposal ascribes no value to our accretive NXP acquisition, no value for the expected resolution of our current licensing disputes and no value for the significant opportunity in 5G. Your proposal is inferior relative to our prospects as an independent company and is significantly below both trading and transaction multiples in our sector". Ouch.

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$4 trillion wiped off stock market, tech stocks are HURTING

Anthony Garreffa | Feb 6, 2018 at 06:22 am CST

It's not just the cryptocurrency market that is suffering with a huge $500 billion wiped away from the cryptocurrency market cap, but it's the entire stock market, including the largest technology companies in the world losing billions in the last few days.

$4 trillion wiped off stock market, tech stocks are HURTING 09 |

We're talking about industry giants like NVIDIA, AMD, Qualcomm, Google, Intel, Samsung, Netflix, Amazon, Apple, and everyone in between.

$4 trillion wiped off stock market, tech stocks are HURTING 02 |

Google is down to $1062, after skimming close to $1200 per share last week.

$4 trillion wiped off stock market, tech stocks are HURTING 03 |

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Dwayne 'The Rock' Johnson considering White House run

Ben Gourlay | Nov 14, 2016 at 11:48 pm CST

If last week's Presidential campaign has taught us, it's that anyone can run for President. They might also win. And that has former WWE star, and Republican supporter Dwayne Johnson interested... Very interested.

Dwayne 'The Rock' Johnson considering White House run |

Speaking to Vanity Fair, the wrestler turned actor has flagged that he might very well run for U.S. President in the future saying that he "wouldn't rule it out. It would be a great opportunity to help people, so it's possible. This past election shows that anything can happen." He's also provided other tantalising quotes on social media in the past year.

If he indeed runs (and makes it), he certainly wouldn't be the first actor to get the top job. The 40th U.S. President, Ronald Reagan appeared in some 50 films from 1937 to 1964.

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Trump to forego his presidential salary in office

Ben Gourlay | Nov 13, 2016 at 09:50 pm CST

As the world comes to terms with a wholly unexpected result of last week's U.S. presidential election, President-elect Donald Trump has revealed more of his plans for the country - and they don't include taking any form of tax-payer funded salary.

Trump to forego his presidential salary in office |

According to USA today, President-elect trump has indicated that he won't be taking the $400,000 USD annual salary that comes attached to being the leader of the free world, saying "No, I'm not going to take the salary. I'm not taking it." Trump has also promised he won't take any long holidays either, as "there's just so much to be done".

President-elect Trump will become President as at Noon on Jan 20 2017.

'The Big Short' headed for a big Oscar win, bookies suggest

Ben Gourlay | Jan 28, 2016 at 05:29 pm CST

With the nominees in and the 2016 Academy Awards ceremony just a few weeks away, speculation about who'll be adding some gold statues to their collections is reaching fever pitch. According to bookies, it might just be 'The Big Short' who'll snag the Best Picture award from the grasp of early Oscar-bait favourite 'The Revenant'.

'The Big Short' headed for a big Oscar win, bookies suggest |

While director Adam McKay is better known for comedies such as 'Anchorman' and 'Step Brothers', it's his dramatic turn with 2015's 'The Big Short' which has turned heads, based on the United States sub-prime loan disaster which has generated praise and plaudits from across the globe. Official odds from online sportsbook TopBet has the finance drama as the clear favourite to take out the Best Picture Oscar, with investigative drama 'Spotlight' running at second.

Meanwhile, odds have also shortened in Leonardo DiCaprio's favour to finally take home a Best Actor gong, his first in a 20 year career and just weeks after snagging the Golden Globe for his role in 'The Revenant'. That film's director Alejandro G Iñárritu is also the favourite for Best Director, with McKay nipping at his heels.

Great Scott! DeLorean cars go back into production after 30 years

Ben Gourlay | Jan 27, 2016 at 08:22 pm CST

Despite the DeLorean Motor Vehicle company going bankrupt in 1982 after producing only 9,000 of the distinctive gull-winged vehicles made famous by 'Back to the Future', the dream of founderJohn DeLorean's is about to live on, with new vehicles headed to production for the first time in over 30 years.

Great Scott! DeLorean cars go back into production after 30 years |

According to NBC News, the reconstituted DeLorean Motors factory in Humble, Texas which has been refurbishing vehicles and producing parts for the roughly 6,500 vehicles in existence today, has been given the greenlight by the U.S. Government to produce around 300 new vehicles from original parts that have been in storage since the company folded. "It's fantastic! It is a game changer for us. We've been wanting this to happen" remarked Stephen Wynne, DeLorean's CEO.

The newly produced vehicles are expected to be a money spinner for the company, with estimates that they'll sell for upwards of $100,000 USD.

North Korea's latest invention: Hangover free alcohol

Ben Gourlay | Jan 20, 2016 at 06:16 pm CST

North Korea - there's not much you can't do. From sending a man to the sun, to creating a miracle one-drug cure for AIDS, Ebola and SARS, not to mention eliminating the need to defacate, North Korea have now made another stunning breakthrough. They've abolished hangovers.

North Korea's latest invention: Hangover free alcohol |

According to the state-run Pyongyang Times, the country's Taedonggang Foodstuff Factory has created 'Koryo Liquor', which according to writer Jong Hwa Sun is "made of six-year-old Kaesong Koryo insam, known as being highest in medicinal effect, and the scorched rice, is highly appreciated by experts and lovers as it is suave and causes no hangover".

While the drink has been "registered as a national scientific and technological hit" and "awarded the December 15 Medal of Quality which is given to the best products in the country", there's unfortunately no word yet on international availability. To be honest, I wouldn't be holding your breath. But here's to North Korea, for once again punching above their weight.

U.S. calls BS on North Korea H-Bomb claim

Ben Gourlay | Jan 6, 2016 at 10:25 pm CST

Yesterday's claim by North Korean state-owned television that "the republic's first hydrogen bomb test has been successfully performed" has been denied by the White House, confirming that initial data from monitoring stations in the Asia area were inconsistent with that of hydrogen bomb blast.

U.S. calls BS on North Korea H-Bomb claim |

While many neighbouring Asian-Pacific nations such as Japan and Australia alongside the United Nations have been quick to condemn the countries weapons program, the New York Times is reporting that neither Korea nor the United States believe that the blast that triggered a 5.1 earthquake in the region was due to an H-bomb, citing "a variety of evidence - some technical, some from human sources" to disbelieve their claim. According to an unnamed South Korean Defense Ministry official, the blast might not have been due to a lesser explosive boosted traditional fission bomb, saying "even a boosted fission bomb produces a yield bigger than this, so we don't think this is a successful test of a boosted fission bomb".