Virginia touts nation's first contact tracing app

Virginia Governor Ralph Northam on Wednesday announced the first contact tracing app for the novel coronavirus in the United States that uses new technology from Apple and Alphabet's Google.

Apple Updates 27-iMac

Apple Updates 27-iMac

Apple Downgraded By BoA

On Wednesday, Bank of America analysts downgraded Apple, Inc. To BoA, Apple's surging stock price doesn't present the strong risk-reward profile it once did. BoA downgraded Apple to "neutral" in a note. It said Apple's recent rally to record highs faces too many risks to recommend buying more shares. Business Insider said Apple's future performance could slip if 5G iPhones miss expectations or sell worse than estimated. Services may also shrink after several quarters of "unsustainable" growth.

Buffett's Apple Stake Triples In Value

Warren Buffett's investment in Apple has tripled in value to north of $100 billion. Buffett's Berkshire Hathaway spent about $35 billion to build the 5.7% stake in Apple The 10% rise in Apple's stock price on Friday boosted its value to about $104 billion. Business Insider reports that Berkshire's Apple position is now worth more than four times its second-largest holding, Bank of America. Industry analysts call Buffett's investment into Apple "one of the best investments ever."

Microsoft joins hands with Samsung for special Xbox Game Pass on Android

With the launch of Samsung's new Galaxy Note 20 handset, the company has unveiled a unique Xbox Game Pass partnership. The tech company Microsoft has joined hands with Samsung to include a special version of the Xbox Game Pass app in Samsung's Galaxy Store. According to The Verge, this version will allow Xbox players to redeem tokens and make in-app purchases like buying skins or DLC items in the Xbox Store.The Xbox Game Pass app available on the Google Play Store will not support these types of in-app purchases. The special deal between Samsung and Microsoft likely undercuts the 30 per cent Google asks for, to enable them exclusively for the Galaxy Store version. The deal comes just as rumours suggest Google is trying to convince Samsung to promote its own Play Store over Samsung's alternative.The verge reported that alongside this Xbox Game Pass app, Samsung also offered agaming bundle for the Galaxy Note 20 that includes three months of Xbox Game Pass Ultimate and PowerA's MOGA XP5-X Plus. The controller is made with the game streaming (xCloud) part of Xbox Game Pass Ultimate in mind, and it can keep the user's phone charged while playing the game.Microsoft and Samsung's latest Xbox Game Pass partnership builds on the growing deal the two companies first revealed last year. Microsoft and Samsung partnered to bridge Android and Windows closer together with the Galaxy Note 10 last year, and they announced an xCloud partnership earlier this year. The Note 20 is the first device to take advantage of this closer Xbox Game Pass integration, and it is also assumed that Microsoft's ambitions to bring xCloud to TVs will likely involve Samsung at some point in the future.

WH Staffers Struggle To Justify Trump's Demand For 'Key Money' In TikTok Deal

The Trump administration was at a loss on Tuesday over the president's suggestion to shake down Microsoft in its proposed purchase of Chinese app TikTok. According to Gizmodo, the Trump administration has threatened to ban TikTok in the US, possibly by putting it on a Commerce Department blacklist. The threat is based on largely theoretical concerns that Beijing-based owner ByteDance could use it to spy on tens of millions of users.

Stocks rise, Disney surges after hours

Wall Street ended higher after a choppy session on Tuesday, but they were capped by declines in AIG and Microsoft. As Fred Katayama reports, Disney shares shot higher after its adjusted profit handily beat expectations.

BoA: Reasons To Buy Discount Store Stocks

Business Insider reports that banks' and tech giants' earnings largely impressed Wall Street. Bank of America says discount stores are set to post similarly positive results, according to Bank of America. BoA analysts expect the sector's second-quarter figures to hold strong thanks to rising food sales and improvement in general merchandise revenue. Thanks to momentum in higher-profit categories and successful online operations Walmart, Target, and Dollar Tree are in good positions.

Walmart Will Offer Low Cost Health Insurance

Walmart has over 5,000 locations in the U.S. and 265 million customers globally. And according to Business Insider, they may be ready to give health insurance providers some competition. Walmart is launching a low-cost health insurance offering, available to customers. It's called Walmart Insurance Services LLC. The discount store says that the Walmart Health Center prices will be up to 50% lower than traditional care.

If fast food is essential, so are kids in school -DeSantis

Florida Governor Ron DeSantis on Thursday spoke about reopening schools and told reporters, "We spent months saying that there were certain things that were essential. That included fast-food restaurants. It included Walmart. It included Home Depot... if all that is essential, then educating our kids is absolutely essential."

Walmart is competing with Amazon Prime by launching a new subscription service

Business Insider reports that Walmart is set to launch Walmart+ by the end of this month. The subscription will cost $98 a year. It will offer members free same-day delivery from Walmart stores. Members will also get delivery perks, discounts at Walmart gas stations, early access to promotions, and self-checkout tools. The retailer will also introduce a Walmart+ branded credit card and possibly video entertainment.

Dow Surges 557 Points

US stocks rose on Tuesday as investors weighed second-quarter earnings results for US banks against spiking coronavirus cases. JPMorgan gained after earnings beat Wall Street expectations. Wells Fargo slumped after reporting a loss and cutting its dividend. Coronavirus cases continue to climb in the US, forcing states to rollback reopening plans and threatening the economic recovery from the pandemic recession.

U.S. banks set aside billions for potential loan losses

JPMorgan Chase, Citigroup and Wells Fargo collectively set aside nearly $26 billion for potential loan losses. As Fred Katayama reports, quarterly profit at JPMorgan and Citi tumbled while Wells Fargo swung to a loss.

Beyond Meat Drops 10 Percent After Test With McDonald's Ends

CBC reported that McDonald’s ended its Canadian trial of Beyond Meat in April with no plans to continue. According to Business Insider, the plant-based burger dropped as much as 10% because of the news. While Beyond Meat said in an email they were “pleased with the test,” a JPMorgan analyst said usually if a test goes well, it doesn’t end. Beyond Meat CEO Ethan Brown said the plan with McDonald’s hasn’t changed. Despite the recent drop, Beyond Meat is up more than 90% year-to-date.

Bezos sells Amazon shares worth $3.1 bln

Amazon.com Jeff Bezos sold shares worth $3.1 billion in the e-commerce company in recent days, regulatory filings showed on Wednesday. Fred Katayama reports.

Investing beyond stay-at-home stocks

John Hancock Global Thematic Opportunities Fund's Gert Van Der Geer identifies long-term themes that haven't played out in the market yet. He tells Reuters' Fred Katayama medical technology companies such as Boston Scientific and Edwards will bounce back once people undergo elective surgeries that they put off amid the lockdown.

Teladoc buys Livongo in $18.5 billion deal

Teladoc Health has agreed to buy chronic care provider Livongo Health in a deal valuing the company at $18.5 billion that bets on a boom in online care and consultations spurred by the coronavirus crisis. Fred Katayama reports.