Amazon.com Inc's (NASDAQ:AMZN) has a very good reason in moving part of its second headquarters into Northern Virginia and it may have something to do about winning a lucrative contract with the Pentagon, a report by Rolling Stone said.
Amazon has increased the odds through its decision it will be awarded one of the all-time lucrative defense deals, the $10 billion Joint Enterprise Defense Infrastructure (JEDI) contract, providing cloud services and a platform for Department of Defense operations, instantly becoming one of the biggest federal contractors.
The award can only go to a provider that meets Defense Information Systems Agency Impact Level 6, a requirement that has to do with security/secrecy clearances.
Only one private provider meets that requirement, and numerous reports say that provider is Amazon Web Services, the report said.
Amazon stock rose 0.96% to $1,614.41 late on Thursday.
Alphabet Inc's Google (NASDAQ:GOOG) continues to scale back its robot ambitions with the news that it’s shutting down Schaft, a little-known Japanese robotics team purchased by Alphabet back in 2013, a report by The Verge said.
Schaft was best known for its work developing advanced bipedal robotics.
The firm had its origins in the University of Tokyo’s robotics lab, where engineers built bio-inspired robot legs with metal bones, muscles, and tendons.
The team later moved to more conventional systems, modifying industrial robotics hardware to be more powerful and precise, the report said.
Google shares gained 1.9% to $1,063.63.
Netflix Inc (NASDAQ:NFLX) has added the Korean drama series 'Memories of the Alhambra', a 16-episode series was produced by Studio Dragon, one of Korea’s largest scripted television production outfits, a report by Variety said.
“Memories of the Alhambra” is a suspense romance drama that revolves around an investment company CEO who visits Granada, Spain, for a business trip and gets involved in a mysterious incident after staying in an old hostel run by a Korean woman, the report said.
New episodes will be shown by Netflix globally from December 1.
Netflix has boarded several Korean drama series for international release, including “Life” and “Something in the Rain," the report said.
Shares of Netflix added 0.7% to $288.73.
Apple Inc (NASDAQ:AAPL) shares have tumbled into a bear market following a decline of at least 20% from 52-week highs, but the stock could be in an area where it is a good opportunity to buy, a report by CNBC said.
Those losses have also pushed Apple below the long-term trend line represented by its 200-day moving average.
Bill Baruch, president of Blue Line Futures, isn't sweating the Apple sell-off. "I'm actually not too concerned it's below the 200-day moving average. Look back at February, look back at April. It was below there for six and seven sessions so I think it can ping-pong around a little bit," Baruch said Wednesday on CNBC's 'Trading Nation.'
Apple's sharp sell-off has presented a buying opportunity for investors, said Michael Bapis, managing director of Vios Advisors at Rockefeller Capital Management. "I think it's at a big discount. This panic and craze is unjustified," Bapis said.
Apple stock rose 2.01% to $190.55.
"Tim Cook has consistently criticized our business model and (Facebook CEO) Mark (Zuckerberg) has been equally clear he disagrees," the post read.
"So there’s been no need to employ anyone else to do this for us. And we’ve long encouraged our employees and executives to use Android because it is the most popular operating system in the world."
Facebook stock eased 0.7% to $143.18.
Contact Rene Pastor by [email protected]