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Big Money, Day Traders Both Love Japan Tech Darling Mercari

October 13, 2020

(Bloomberg) — Mercari Inc., the online flea-market operator that has become one of Japan’s most closely watched tech ventures, is closing in on new highs as the stock has drawn both big and small money.

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The company has already grown to command the largest weighting on Japan’s startup-focused Mothers index as individual investors buy in — of some 230 of the largest Japanese companies with market value of over $5 billion, Mercari has the third-highest percentage of individual shareholders. Then on Oct. 7, Los Angeles-based money manager Capital Group declared it had taken a 5% stake in Mercari.

That’s helping propel the stock to near the 6,000 yen mark it hit just once, on the day it listed to great fanfare in 2018. After a rapid decline, the stock has worked its way back up this year, fueled by its first quarterly operating profit. That’s been helped by

Big Money and Day Traders Alike Love Japan Tech Darling Mercari

October 13, 2020

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(Bloomberg) — Mercari Inc., the online flea-market operator that has become one of Japan’s most closely watched tech ventures, is closing in on new highs as the stock has drawn both big and small money.

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The company has already grown to command the largest weighting on Japan’s startup-focused Mothers index as individual investors buy in — of some 230 of the largest Japanese companies with market value of over $5 billion, Mercari has the third-highest percentage of individual shareholders. Then on Oct. 7, Los Angeles-based money manager Capital Group declared it had taken a 5% stake in Mercari.

That’s helping propel the stock to near the 6,000 yen mark it hit just once, on the day it listed to great fanfare in 2018. After a rapid decline, the stock has worked its way back up this year, fueled by its first quarterly operating profit. That’s been helped by

Tech Leads Stocks Higher Amid Fiscal-Aid Optimism: Markets Wrap

October 9, 2020

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(Bloomberg) — Technology shares led U.S. stocks higher for a third day while traders continued to bet that lawmakers are moving closer to providing more fiscal stimulus. Treasury yields were mostly flat and a dollar gauge slipped.

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The S&P 500 traded near the highs of the day with the White House planning to offer a $1.8 trillion stimulus proposal. Senate Majority Leader Mitch McConnell warned earlier that it unlikely an agreement would be reached before the election. The tech-heavy Nasdaq 100 jumped more than 1% with chip maker Xilinx Inc. leaping on a report it’s in advanced talks for a $30 billion takeover by rival Advanced Micro Devices Inc.

“We’ve had this whipsaw around wondering if there will be more fiscal stimulus, which I think we desperately need to keep the economy rolling,” said Ron Temple, head of U.S. equity at Lazard Asset Management LLC.

European stocks gained

Musk Says Tesla to Use New Batteries, Tech at Berlin Factory; Flags Production Risk | Investing News

October 8, 2020

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(Reuters) – Tesla Inc

Chief Executive Elon Musk said on Wednesday the company will produce Model Y with a new structural battery design and technology at its Berlin factory next year and that could result in a “significant production risk”.

The U.S. electric carmaker plans to manufacture a new version of its Model Y crossover vehicle, and possibly even battery cells at the site. Last month, Musk said that Tesla will use its Germany-based plant to demonstrate a radical overhaul of how its cars are built.

The company plans to start the production of Model Y at Gigafactory Berlin during the second half of 2021.

Tesla’s new battery cell – a larger cylindrical format called 4680 that can store more energy and is easier to make – is key to achieving the goal of cutting battery costs in half and ramping up battery production nearly 100-fold by 2030.

The company’s

If You’re Only Looking at Tech, You’re Missing Profitable Opportunities

October 7, 2020

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As I told you last Friday, Technology stocks have been a great source of stock price appreciation since the market bottomed on March 23.

I’m sure we all have a collection of investments in the technology sector throughout our portfolios, and I’m sure you’re quite happy with your returns.

As I told you last Friday, The Information Technology Index returning a whopping 39.7% over the trailing year. And that includes the drop in September of 12.1%. One of the challenges is the fundamental valuation of the average underlying companies in the tech sector.

chart, line chart

© Provided by InvestorPlace

S&P Information Technology Index Price to Earnings, Price to Book & Price to Sales — Source Bloomberg Finance, L.P.

Many in the stock market continue to be laser-focused on technology stocks. The idea is that placing bets on tech makes for better returns, even if fundamentals are ignored along the way.

Amazon and Whole Foods evolving into grocery tech giant: John Mackey

October 7, 2020

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Whole Foods CEO John Mackey discusses the surge in sales from delivery services and how trends will change after the coronavirus pandemic ends.

Amazon and Whole Foods have come a long way since merging in 2017, with the grocer emphasizing upping its game with technology.

“Some evolutions have occurred. We are a little more data-driven now than we used to be,” said CEO John Mackey during an interview with Maria Bartiromo on “Mornings with Maria” Wednesday. He added, “Amazon is helping alter our technology and upgrading it.”

Ticker	Security	Last	Change	Change %
AMZN	AMAZON.COM INC.	3,176.96	+77.00	+2.48%

CORONAVIRUS PROMPTS AMAZON TO CONVERT MORE WHOLE FOODS LOCATIONS TO ONLINE DELIVERY ONLY

The $13.7 billion deal has allowed the grocer to tap Amazon’s Prime Members, which number over 100 million. He then hinted that the companies are working on even more technological advancements though he declined to detail what that

I’ll bet Big Tech won’t be broken up

October 7, 2020

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Former Microsoft CEO Steve Ballmer on Wednesday commented on a report released Tuesday by the House Judiciary subcommittee on antitrust, which found Amazon, Apple, Facebook and Google hold monopoly power.

“I’ll bet money that they will not be broken up,” Ballmer said.

Ballmer, who helmed Microsoft through an antitrust lawsuit in the early 2000s, made some recommendations to those companies during CNBC’s “Squawk Box” on Wednesday.

“If I’m in these guys’ shoes, I say, come on, let’s get down there and let’s regulate me and let’s get it over with so I know what I can do.”

Referring to Microsoft’s antitrust legal challenges over twenty years ago, Ballmer said, “Certainly what I learned as we were going through our antitrust issues in the early 2000s is that you can do things that seem 100% consistent with the law all along the way but then if you wind up with a

Torn U.S. tech investors debate buy or sell in wake of shakeout

October 6, 2020

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Video: Fed’s Barkin Expects Strong U.S. Growth in Third Quarter (Bloomberg)

Fed’s Barkin Expects Strong U.S. Growth in Third Quarter

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By Caroline Valetkevitch

NEW YORK (Reuters) – Investors are grappling with how to play heavyweight U.S. technology shares, which are trading well above long-term valuations despite a sell-off last month that took some air out of the stocks.

After leading the rally back from the market’s March lows, the S&P 500 information technology sector has underperformed recently and was among the weakest within the S&P 500 in September.

The tech sector remains down about 8% since peaking on Sept. 2, compared with about a 5% decline in the S&P 500.

Even with the sell-off, the S&P 500 technology sector is trading at about 25 times forward earnings and at a nearly 55% premium to its 10-year average,

Irving health tech firm HMS explores sale amid COVID-19 financial strain

October 5, 2020

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Irving-based HMS Holdings Corp. is exploring options including a sale, as the health-care data and technology provider grapples with the impact of the coronavirus, according to people familiar with the matter.

The company is working with advisers to review alternative strategies, the people said, asking not to be identified because the matter isn’t public. No final decision has been made and it could still opt to remain independent, the people said.

HMS Holdings’ shares closed 2% higher on Friday, closing at $24.37, giving the company a market value of about $2.2 billion. The stock is down 28% in the past year compared with the 16% gain in the S&P 500 index.

Representatives for HMS Holdings didn’t respond to requests for comment.

HMS, founded in 1974, provides data and analytics services that help federal agencies, health-care exchanges, hospital groups and other clients reduce costs, according to its annual report.

As of

Ford finance boss will return to tech sector in management overhaul

October 1, 2020

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Ford’s chief financial officer is leaving the company less than two years after joining from technology group Snap as the US carmaker announced a series of management changes on new boss Jim Farley’s first day in charge.

Tim Stone, who joined in April 2019, will move to AI software group ASAPP as its finance and operations chief, Ford announced.

He will be replaced by John Lawler, a 30-year veteran of Ford, who most recently ran the group’s autonomous vehicle unit.

Mr Farley, who replaced Jim Hackett as Ford chief executive on Thursday, also unveiled a clutch of changes and set out plans for the company he has been tasked with turning round.

Shares dropped 40 per cent under the tenure of Mr Hackett, the former office furniture executive who was a surprise appointment as Ford’s boss three years ago.

While Mr Hackett struck a deal with VW to share some