Tech Stocks That Move The Market

Google’s Fitbit deal could avoid EU antitrust probe by agreeing not to use health data for ads

Google announced its plans to acquire Fitbit for $2.1 billion back in November. As of this writing, the deal has yet to go through, courtesy of all the usual regulatory scrutiny that occurs any time one large company buys another. Citing “people familiar with the matter,” Reuters notes that Google may be facing down some scrutiny in the form of an EU antitrust investigation if it doesn’t make some concessions.

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  Google has way to dodge EU Fitbit probe - sources

  Reuters Videos
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  Google Could Escape EU Antitrust Probe With A Promise Not To Use Fitbit Data For Ads

  Benzinga

COVID-19 is steering consumers to buy cars online: Carvana CEO

Yahoo Finance checks in with Carvana founder and CEO Ernie Garcia on car buying demand amidst the COVID-19 pandemic.

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  Park Viewing During Pandemic! Here Are a Few Parks in the Nation That Are Just a Drive Away!

  Buzz60
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  Online savings yields drop by largest amount in a decade due to the pandemic

  Yahoo Money

A president Joe Biden would be brutal for the stock market — for this simplest reason

This market pro tells Yahoo Finance Joe Biden would not be good for investors. The explanation makes sense.

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  Biden proposes $700 billion plan to spur manufacturing, research to create 5 million jobs

  USA TODAY
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  Biden looks to curb COVID-19 economic damage with 'Buy American' plan

  Fox Business

LinkedIn sued over allegation it secretly reads Apple users' clipboard content

According to Apple's website, Universal Clipboard allows users to copy text, images, photos, and videos on one Apple device and then paste the content onto another Apple device. According to the lawsuit filed in San Francisco federal court by Adam Bauer, LinkedIn reads the Clipboard information without notifying the user.

Facebook bans content promoting 'conversion therapy'

Facebook on Friday said it is banning content that promotes "conversion therapy," which is based on the unfounded notion that gays can change their sexual orientation through psychological or spiritual intervention. Facebook and its image-centric social network Instagram are updating policies to require removal of content that directly promotes conversion therapy when such posts are flagged by users, according to the California-based internet giant. "We don't allow attacks against people based on sexual orientation or gender identity and are updating our policies to ban the promotion of conversion therapy services," a Facebook spokesperson said in response to an AFP inquiry.

Tesla to hold annual shareholder meet and 'Battery Day' on Sept. 22

The company's "Battery Day", where it is expected to reveal significant advances in battery technology will also be held on the same day, Tesla said. Chief Executive Officer Elon Musk said last month the shareholder meet would tentatively be held on Sept. 15. Tesla has been facing pressure from shareholder advisory firms, Glass Lewis and ISS, against the re-election of Chairwoman Robyn Denholm over concerns of corporate governance and her leadership.

Why The Shyft Group Stock Popped 14% Today

Shares of The Shyft Group (NASDAQ: SHYF), an automotive company specializing in the manufacture of commercial delivery vans, and particularly vans designed to facilitate e-commerce deliveries, soared a staggering 14.1% in Friday trading after Reuters reported that the biggest e-commerce company on the block is placing a big order with Shyft. As Reuters explained, Amazon.com (NASDAQ: AMZN) is ordering 2,200 of Shyft's "Utilimaster" walk-in delivery vans. Indeed, according to the news organization, the order was apparently placed last year, and at least some of Shyft's trucks are already in Amazon's possession and have been "seen recently operating in Chicago."

Nasdaq Hits 3rd Straight Record as Tesla Tops $1,500 and Zoom Zooms to New Highs

The stock market has posted an amazing rebound from its March lows, but the real standout among major market benchmarks has been the Nasdaq Composite (NASDAQINDEX: ^IXIC). Tesla (NASDAQ: TSLA) and Zoom Video Communications (NASDAQ: ZM) have been among the top performers in the stock market lately, and today both companies saw their stocks move to new record levels. For Tesla, momentum seems to be unstoppable right now, even as short-sellers remain skeptical of the electric vehicle maker's prospects.

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  How Tesla's Chinese EV Market Is Worth $400 Per Share

  Benzinga
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  Tesla Expected To Clear This Key Hurdle To Even More Investor Demand For Shares

  Investor's Business Daily

Will NVIDIA Stock Surge to $500?

Strong growth in several massive markets will help drive NVIDIA's (NASDAQ: NVDA) share price to $500. So says Rosenblatt Securities analyst Hans Mosesmann. On Friday, Mosesmann reiterated his buy rating on NVIDIA's stock and boosted his target price from $400 to $500.

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  NVIDIA Now Most Valuable US Chipmaker, Intel Falls Behind

  Zacks
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  Graphics-Chip Maker Nvidia Soaring On Gaming, Data Center Trends

  Investor's Business Daily

Why Shares of Tesla Jumped Friday Afternoon

The growth stock's move follows speculation that the company may be considering building a small hatchback for the European market. Also helping is news of the possible inclusion of Tesla shares in the S&P 500 market index. When a Twitter user reached out to Tesla CEO Elon Musk on the platform Friday to note that the Model Y is too big for some cities in Europe, he asked whether the company would consider a smaller European-style hatchback.

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  Tesla is ‘very close’ to creating fully autonomous car: Elon Musk

  Yahoo Finance Video
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  Tesla Share Frenzy Means Elon Musk May Enjoy $1.8B Personal Windfall

  Benzinga

Oil Returns To $40 After COVID Correction

Oil prices fell on Thursday as COVID-19 cases continued to spike in the U.S., which the IEA highlighted as a major threat to oil markets in today’s report, but prices were quick to return to the $40 mark on Friday.

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  IEA raises 2020 oil demand forecast but warns COVID-19 clouds outlook

  Reuters
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  Oil rises as International Energy Agency boosts demand forecast

  Reuters

Amazon's homeless shelter faces Seattle crisis, criticism

A homeless shelter built on Amazon’s perfectly manicured urban Seattle campus is a major civic contribution that pushes the company to face the crisis and criticism in the hometown it has rapidly transformed. Believed to be the first homeless shelter built inside a corporate office building, Amazon’s partnership housing a local nonprofit could be seen as the company's answer to criticism that it hasn’t given back enough to the city.

Skin whitening creams remain online despite mercury findings

Skin-whitening creams identified as containing potentially dangerous levels of mercury continue to be sold online more than seven months after a watchdog group raised the alarm, including on platforms run by eBay <EBAY.O>, Amazon.com <AMZN.O> and Alibaba <BABA.N>, a Reuters review of the sites shows. The findings come at a time when skin lightening, a multi-billion dollar industry especially popular in Asia, Africa and the Caribbean, is under renewed criticism for promoting light skin as a beauty ideal. Many countries ban or restrict mercury in creams, which can damage the kidneys, brain and nervous system.

Amazon.com bans, then un-bans TikTok app from employee mobile devices

The news generated widespread attention for the Chinese-owned social media platform coming the same week U.S. Secretary of State Mike Pompeo said the United States is "certainly looking at" banning TikTok, suggesting it shared information with the Chinese government. It was not immediately clear what led to the initial ban by Amazon. One person familiar with the matter said senior Amazon executives were unaware of the request to delete TikTok from employee devices.

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  Amazon asks employees to delete TikTok 'due to security risks'

  The Independent
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  TikTok: Amazon says email asking staff to remove app 'sent in error'

  BBC

Exclusive: Apple supplier Foxconn to invest $1 billion in India, sources say

Foxconn <2317.TW> plans to invest up to $1 billion to expand a factory in southern India where the Taiwanese contract manufacturer assembles Apple <AAPL.O> iPhones, two sources said. The move, the scale of which has not previously been reported, is part of a quiet and gradual production shift by Apple away from China as it navigates disruptions from a trade war between Beijing and Washington and the coronavirus crisis. "There's a strong request from Apple to its clients to move part of the iPhone production out of China," one of the sources with direct knowledge of the matter told Reuters.

Exclusive - Apple supplier Foxconn to invest $1 billion in India: sources

Foxconn plans to invest up to $1 billion to expand a factory in southern India where the Taiwanese contract manufacturer assembles Apple iPhones, two sources said. The move, the scale of which has not previously been reported, is part of a quiet and gradual production shift by Apple away from China as it navigates disruptions from a trade war between Beijing and Washington and the coronavirus crisis. "There's a strong request from Apple to its clients to move part of the iPhone production out of China," one of the sources with direct knowledge of the matter told Reuters.

Has Apple Surged Too Far, Too Fast? Analyst Weighs In

With the market getting extra frothy, it is legitimate to wonder whether we are in the midst of a bubble. Despite the growing disconnect between Wall Street and Main Street, the surge has been almost relentless since the coronavirus inflicted meltdown in March. Tech stocks, in particular, have outperformed, including the world’ largest company by market cap – Apple (AAPL).It has become increasingly hard to keep up, as Apple has repeatedly notched new all-time highs recently. In a research note to clients, Deutsche Bank analyst Jeriel Ong ponders this exact issue.“AAPL's prior pre-COVID peak was ~$325 back in Feb-20,” Ong noted, “and we can't say that the fundamentals behind the stock for 2021 and beyond are ~15% better than the pre-COVID era as the present difference in all-time highs today vs. back then suggests.”Additionally, aside from “the speed and magnitude of the rebound,” going forward, Ong says, Apple’s surge is at risk of being derailed due to several possible elements. These include a contracting economy with high unemployment rates and less spending from “smaller wallets,” a second COVID-19 wave which will result in stores closing again and the risk of delays to the anticipated iPhone 12 launch.So, with these concerns laid out, is now the time for investors to step aside and come back after Apple has cooled off?Uh-uh. Looking ahead, the pluses outweigh the minuses.Ong explained, “Long-term, we see investors building more confidence in 4 drivers of the stock (iPhone, AirPods, Services, and GM mix shift) as the market continues to stabilize. Simply put, while we see the risks outlined above and perhaps negative catalysts on the horizon (maybe a weak 4Q guide as a result of a delayed next-gen iPhone launch?) ultimately we continue to believe the reward/positive catalysts outweigh the risks, at least at this point in time.”Therefore, Ong keeps his Buy rating intact, and somewhat surprisingly given the concerns, increases the price target. The figure moves up from $380 to $400. (To watch Ong’s track record, click here)Among the analyst fraternity, Apple remains a firm favorite. AAPL's Strong Buy consensus rating is backed by 1 Sell, 6 Holds and a resounding 26 Buys. However, the Street expects shares to decline by 8%, should the $355.52 average price target be met over the following months. (See Apple stock-price forecast on TipRanks)To find good ideas for tech stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. More recent articles from Smarter Analyst: * Aurora Cannabis (ACB): Transformation on Track * 3 “Strong Buy” Penny Stocks That Could See Outsized Gains * Amazon Is Said To Offer $100M In Stock Awards To Keep Zoox Talent * Walgreens Reports $1.7B Quarterly Loss, Cuts 4,000 Jobs Due To Covid-19 Impact