The daily tech stock news briefing

According to Business Insider, Amazon.com has discontinued its use of Workday's human resources software. Workday's stock dropped as much as 7.8 percent in one day, the most since Nov. 20. The shares stopped at $230.66, -3.33% at the market closed time. According to Workday, the decision was made 18 months ago due to Amazon's "unique set of needs."

Tesla (NASDAQ:TSLA) shares fell 1.95 percent on Tuesday. The drop in the growth stock comes after the electric-car maker's second-quarter report, which was released after the bell on Monday. Year on year, revenue nearly doubled to around $12 billion. This surpassed the $11.3 billion consensus estimate of analysts. Non-GAAP (adjusted) earnings per share were $1.45, exceeding analysts' average forecast of $0.98. Tesla shares are most likely trading lower due to a bearish day in the market as a whole.

Teladoc Health Inc. shares fell more than 7% in the extended session Tuesday after the telemedicine company reported a larger-than-expected second-quarter loss and guided for a larger-than-expected per-share loss for the year. Teladoc reported a loss of $133.8 million, or 86 cents per share, in the second quarter, compared to a loss of $25.7 million, or 34 cents per share, the previous year. Revenue increased to $503 million from $241 million the previous year.

For the tenth consecutive quarter, Microsoft's sales and profit exceeded analysts' expectations. Sales in the fourth quarter increased by 21% to $46.2 billion, compared to the $44.3 billion average estimate of Bloomberg polled analysts. Net income increased to $16.5 billion, or $2.17 per share, compared to $1.92 predicted by analysts. However, investor optimism was dampened by the software giant's cloud-computing business's slowing growth. Following the report, Microsoft shares fell about 2.5 percent in extended trading.

Stocks fell on Tuesday ahead of the release of earnings reports from mega-cap technology companies such as Google, Apple, and Microsoft. The Nasdaq has fallen 1.21 percent. Markets are also anticipating the release of the Fed's two-day meeting decision on Wednesday. Concerns about the spread of the Delta variant, as well as a regulatory crackdown in China, lingered as well.

Logitech International (NASDAQ: LOGI) reported better-than-expected earnings late Monday, but management maintained its forecast for flat sales growth in fiscal 2022. Analyst Alexander Duval at Goldman Sachs downgraded the stock from a buy to a neutral rating, citing valuation concerns. The stock was down 10.28 percent.

Google reported its second-quarter earning after market closed on Tuesday. Its revenue was about $51 billion. Analysts projected $46.1 billion. Profit was $27.26 a share, topping the average estimate of $19.35. Google shares were up 0.38% as of 2:40pm.

Apple (AAPL) reported its Q3 2021 earnings after the closing bell on Tuesday, beating analysts' expectations thanks to strong iPhone sales performance and year-over-year revenue growth of 36%. Revenue: $81.4 billion versus the expected $73.8 billion Earnings per share: $1.30, compared to $1.01 expected iPhone revenue was $39.57 billion, compared to the expected $34.5 billion. Revenue from services: $17.49 billion versus $16.3 billion expected The stock of the company fell more than 2.6% after market closed as of 2:30pm.

Moderna Inc. shares rose 7.84 percent in Friday trading after the company announced that European regulators recommended approving its COVID-19 vaccine for teens as young as 12 years old. The recommendation was issued by the European Medicines Agency's Committee for Medicinal Products for Human Use; the final decision will be made by the European Commission. In the United States, Moderna's shot has not yet been approved for adolescent use. So far this year, the company's stock has risen 223.2 percent.

Rivian, an electric vehicle startup, announced on Friday that it had closed a $2.5 billion funding round led by investors Amazon.com Inc, Ford Motor Co, and T. Rowe Price. The news comes just one day after the California-based company announced plans to build a second assembly plant in the United States. According to Reuters, citing unnamed sources, Rivian's planned plant, dubbed "Project Tera," will include battery cell production.

Lucid Motors shares will begin trading on the Nasdaq on Monday. The stock will likely be traded under the symbol LCID. The Newark, California-based company expects to begin selling its Lucid Air, a luxury electric sedan built at Lucid's Arizona factory, in the second half of this year. Faraday Future Intelligent Electric Inc.'s FFIE shares debuted on the Nasdaq earlier this week following the completion of a merger with a SPAC. FFIE shares gained 6.01 percent today.

Intel's second-quarter earnings are up after market closed on Thursday. GAAP revenue for the second quarter was $19.6 billion, which was significantly higher than the expected $17.8 billion. Non-GAAP revenue was $18.5 billion, $700 million higher than the April guidance and up 2% year on year. Intel's Data Center Group (DCG) earned $6.5 billion, compared to the $5.9 billion expected. Client computing was expected to generate 9.95 billion in revenue, but it actually generated $10.1 billion. GAAP earnings per share were $1.24, while non-GAAP earnings per share were $1.28, both of which exceeded April's guidance of $1.07. Intel's stock, on the other hand, was down 5.29 percent on Friday. Investors appear to be pessimistic about Intel's future, as the company recently reported a 20% drop in sales to cloud providers such as Amazon's AWS and Google.

Facebook, Alphabet, and Snap all closed at all-time highs on Friday. Facebook gained 5.3 percent, while Google gained 3.37 percent. They will release their second-quarter results in the coming week. Following better-than-expected results from Snap and Twitter, the stocks were riding a wave of surging digital ad sales. Snap's revenue exceeded expectations by more than $100 million, and its stock rose the most, rising 23.9 percent to a record close of $78.02. Twitter rose 3.1 percent to $71.69 after reporting higher-than-expected revenue growth. Advertising revenue was $1.05 billion, up 87 percent from the previous quarter, and exceeded Wall Street expectations of $909.9 million. It reported 206 million monetizable daily active users (mDAU), matching analyst targets of 205.9 million.

According to Bloomberg, the Chinese government is considering new regulations governing after-school tutoring services. China is considering requesting that tutoring companies become non-profit. Following those and other reports, the lists of the biggest decliners and most active stocks on major U.S. exchanges were littered with U.S.-traded shares of Chinese education companies. TAL, the stock of Tal Education Group, fell 70.8 percent to $6.00, its lowest closing price since October 2015. The EDU of New Oriental Education

Twitter reported its second quarter financial results today. Twitter's second-quarter revenue increased 74 percent year on year to $1.19 billion. In the second quarter, the company added 7 million users over the previous quarter. Twitter shares increased by about 5% in extended trading after closing at $69.57.

On Thursday, SnapChat reported its second-quarter earnings. Its sales were increased by more than doubling to $982.1 million. Analysts predicted $846.9 million in revenue. DAU is 293 million, exceeding analyst expectations of 290.72 million. To attract young people and advertisers, the company has invested in content and creative tools. After the market closed on Thursday, the company's stock rose about 17%.

Nvidia shares rose nearly 1% on Thursday, extending gains from Wednesday, after Citigroup analyst Atif Malik raised his price target on the stock following a 4-for-1 split. Malik raised his one-year price target on Nvidia to $223 from $180 and maintained his buy rating on the stock following the 4-to-1 split that took effect this week, despite what he sees as recovering demand for Nvidia's chips and graphics cards.

Intel Corp., the world's largest semiconductor maker, issued a depressing third-quarter sales forecast, indicating that its data-center chip business continues to lose market share in the face of increased competition. Intel said in a statement Thursday that sales in the current quarter will be around $18.2 billion. This compares to an average analyst forecast of $18.3 billion. According to the company, adjusted gross margin, a measure of profitability, will be around 55%, and per-share profit will be $1.10. Following the announcement, the company's shares fell about 2.8 percent in extended trading.

Couchbase Inc's stock jumped more than 23% in its Nasdaq debut on Thursday. The company raised $200 million in its initial public offering (IPO) on Wednesday. Investors include GPI Capital, North Bridge Venture Partners, and Accel. The company's market debut comes at a time when data storage, security, and processing are in high demand.

Tesla CEO Elon Musk announced late Tuesday that the company will open its Supercharger network to other automakers by the end of the year in a tweet. Tesla is said to be in talks with European countries about opening up its charging network to other automakers in order to unlock subsidies in those countries. China's EV manufacturers Li Auto, Nio, Xpeng Motors, and BYD Co. (BYDDF) all rallied 5 to 8 percent to the news, while Tesla was down 0.78%.

Netflix shares fell 3.28 percent on Wednesday morning following the company's second-quarter earnings report. It is the most decline in three months. Netflix met some financial targets while falling short on others, and the market focused on the unsatisfactory puzzle pieces. Second-quarter revenue increased 19% year on year to $7.34 billion, slightly exceeding management's guidance of $7.30 billion and the consensus estimate of $7.32 billion on Wall Street.

Moderna (MRNA) debuted on the S

ASML, a manufacturer of the most advanced chip manufacturing equipment in the world, reported better-than-expected results. ASML reported a profit that was higher than expected in the second quarter, but revenue that was slightly lower than expected. It reported net income of €1 billion ($1.2 billion), or €1.79 per share, compared to €751, or €2.52 per share, in the previous year. Revenue increased by 21% to €4 billion. Analysts expected earnings per share of €2.47 on revenue of €4.1 billion. The company stated that it expects third-quarter revenue of €5.2 billion to €5.4 billion, which is significantly higher than the €4.7 billion predicted by analysts. It is currently trading at 52 times expected earnings. In recent trading, ASML gained 5.4 percent to $721 while the semiconductor index SOXX was up 2.5%.

China Eastern Airlines receives the first A350 widebody jet from Airbus' Tianjin final assembly line. Airbus has been more aggressive than Boeing in shifting parts of its manufacturing process to China in the hopes of increasing its share of new plane sales in the world's largest market.

Zoom was down 2.15% today as the company announced a $14.7 billion all-stock deal to acquire Five9. It is the biggest acquisition of Zoom ever. Five9 is a cloud-based call centre operator. Its call center software is used by more than 2000 clients. Under the terms of the deal, Five9 stockholders will receive 0.5533 shares of Zoom stock for each share of Five9.

Moderna (MRNA) has entered the big league with its addition to the S

The major Wall Street indexes have dropped the most since May. Stocks fall as investors worry about inflation and the resurgence of the coronavirus in unvaccinated people. The Nasdaq and S

GlobalFoundries, a semiconductor manufacturer, announced on Monday that it will build a second factory near its headquarters in Malta, New York, and spend $1 billion to increase output to address the global chip shortage. According to Reuters, GlobalFounderies' owner, Mubadala, intends to take GlobalFoundries public in an initial public offering. The Wall Street Journal reported last week that Intel Corp was considering a $30 billion acquisition of GlobalFoundries.

Robinhood Markets Inc is aiming for a valuation of up to $35 billion in its initial public offering in the United States, according to a filing on Monday, paving the way for one of the year's most anticipated stock market listings.

Nvidia climbed 3.41% higher today while the broader markets fell more than 1%. This may be due to rating raised by Monring start today. Also Nvidia is about to split 4-for-1 Tuesday morning.

Square CEO Jack Dorsey announced on Friday that the company intends to develop crypto products, including a hardware wallet, to complement ARK's plans to launch an exchange-traded fund (ETF). According to its daily holding files, Cathie Wood's New York-based ARK Investment purchased a total of 225,937 shares following the announcement.

Lei Jun, co-founder of Xiaomi Corp., donated $2.2 billion in Xiaomi stock to charity, joining other Chinese technology executives in philanthropy amid increased scrutiny on the industry. This follows the announcement that Xiaomi Corp. has surpassed Apple as the world's second largest smartphone manufacturer in the last quarter, thanks to an 83 percent increase in shipments, according to preliminary Canalys estimates. Sumsang is still the largest with 19% share, Xiaomi had 17% and Apple had 14%.

According to a tax document made public on Thursday, Samsung is considering to build the second chip factory in Williamson County, Texas. The investment will be more than $17 billion dollars and result in 1800 new jobs.

Moderna will join S

Stocks fell on Friday as investors digested a slew of earnings reports and a new consumer spending report. The S

Intel to buy GlobalFoundries for $30 billions. The Wall Street Journal reported on Thursday that Intel Corp is in talks to buy semiconductor manufacturer GlobalFoundries Inc for around $30 billion. The agreement could help Intel ramp up chip production at a time when demand is high, and the company is looking to start producing chips for automakers.

Ericsson has stated that it will no longer rely on previously anticipated contract wins in China for 5G tenders. Swedish telecoms company has previously warned that its operations in China could be jeopardized by Sweden's decision to ban Chinese equipment giant Huawei. Ericsson currently generates slightly less than 10% of its revenue in China. Its stock is down more than 8% today.

On Thursday, Taiwan Semiconductor Manufacturing Co. released its second-quarter earnings. Revenue increased 20% year on year to NT$372.15 billion in the second quarter. The figure was already known because TSMC releases its revenue figures every month. For the quarter ended June 30, TSMC's net profit increased 11% year on year to 134.36 billion Taiwan dollars (US$4.80 billion). This was slightly lower than the NT$135.81 billion estimate of analysts polled by S

Netflix enters gaming business. According to Bloomberg, Netflix (NASDAQ: NFLX) has hired former Facebook gaming executive Mike Verdu as vice president of game development, reporting to Chief Operating Officer Greg Peters. Netflix plans to offer streaming videogames within the next year, and the company will not charge a premium for the content. Netflix shares are down about 1.5% and GameStop is down 1.9 percent. The Nasdaq is down 1.15%.

Moderna (NASDAQ:MRNA) shares were up more than 4 percent while the broader markerts fell about 1 percent on Thursday, setting a new high for the stock. The increase came after Jefferies analyst Michael Yee raised his price target on the stock from $170 to $250. In addition, Dr. Marco Cavaleri, the European Medicines Agency's (EMA) head of biological health threats and vaccine strategy, stated in a press conference that a committee would most likely finalize a decision on recommending authorization for Moderna's COVID-19 vaccine in children by the end of next week.

Google is expanding its cloud infrastructure in India by establishing a second cluster of data centers in and around New Delhi. The new infrastructure will aid in the resolution of issues such as disaster recovery within India. It invested $4.5 billion in Jio Platforms, the digital division of Indian conglomerate Reliance Industries, last year.

Aurora Innovation, a driverless technology startup, has agreed to go public through SPAC. Aurora's equity value in the deal is $11 billion, and the combined company is worth $13 billion. In late 2023, the company expects to launch its first autonomous product, for trucks. Aurora is concentrating its initial efforts in Texas, which transports the most freight by truck than any other state.

Amazon announced the release of HealthLake today. HealthLake is a service for healthcare and life sciences organizations to ingest, store, query, and analyze their health data at scale. Amazon HealthLake uses machine learning to understand and extract meaningful medical information from unstructured data. The service leverages the Fast Healthcare Interoperability Resources (FHIR) industry standard format.

Tesla (TSLA) CEO Elon Musk claims his company has a backlog of 80,000 orders for its Powerwall home solar-energy-storage system worth more than $500 million. However, Musk also stated that Tesla will only be able to produce 30,000 to 35,000 Powerwalls this quarter. Due to a global chip shortage, the company claims it is unable to ramp up production to meet demand. Tesla stock is down about 1% as of 12PM PST on Wednesday.

Qualcomm Incorporated (NASDAQ: QCOM) announced today a quarterly cash dividend of $0.68 per common share, payable on September 23, 2021, to stockholders of record on September 2, 2021. Qualcomm shares rose by 2.4% as of 12:15pm PST.

On Wednesday, Moderna Inc. surpassed a $100 billion valuation as vaccinations against the Covid-19 virus continue to spread around the world.  Moderna's stock has risen more than 220 percent in the last year as pharmaceutical companies raced to develop a vaccine against the coronavirus. The first shots were fired in record time, with Moderna's inoculation being approved for emergency use in the United States in December.

ARK reduces its Chinese stocks to lowest since 2014 as China has taken action against domestic tech firms such as Alibaba and DiDi. Cathie Wood, CEO of Ark Investment Management, discussed a "valuation reset" in Chinese internet stocks. In the last month, the company has sold $25 million in Tencent stock. China's weighting in that fund is now less than 1%, down from 8% in February, and China's weighting in the Ark Next Generation Internet ETF ARKW is the lowest since at least 2014.

Apple (NASDAQ:AAPL) shares hit a new high on Wednesday, up about 2.5%, boosted by bullish analyst commentary and reports of significantly higher iPhone production rates. According to Bloomberg, the tech titan is aiming to produce as many as 90 million of its latest iPhones this year. Apple is reportedly planning to increase shipments by 20% over 2020 levels.

Alibaba and Tecent open up services to each other. According to the WSJ report, both Alibaba and Tencent are working on new plans to loosen restrictions, including introducing Tencent's WeChat Pay to Alibaba's e-commerce marketplaces, Taobao and Tmall. It comes just days after China launched a crackdown on a slew of technology companies with international listings, including Didi Chuxing, Tencent, and Alibaba. Alibaba and Tecent stocks gains 1.07% and 1.58%, respectively, as of 12pm PST on Wednesday.

TSM, Taiwan Semiconductor Manufacturing Company, is set to release its second-quarter 2021 results on July 15. The company is expected to benefit from the strong momentum in 5G smartphone launches in the second quarter of the fiscal year. Taiwan Semi expects revenue of $12.9 billion to $13.2 billion. TSM shares gained 1.04% today while the broader markets are down 0.3%.

Tesla sales in China rebounded in the last 2 months. Tesla just hit a series of troubles in China during the last few months, including customer's protest about braking issues and Tesla cars forbidden in government compounds. However, reach sales data indicate that demand for Tesla vehicles has rebounded in China. The month-over-month growth of sales units from March to June are 94%, -67%, 88%, and 28%, respectively.