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Microsoft, Twilio, and Splunk shares were higher in early market trading today. While Microsoft rose 2%, Twilio and Splunk rose 1.7% and 2.5%, respectively.
(Bloomberg) -- Cisco Systems Inc. approached software company Datadog Inc. in recent weeks with a takeover offer significantly higher than the $7 billion valuation it aimed for in its initial public offering, according to people familiar with the matter.Datadog rebuffed the advance to pursue a stock listing because it felt it could be worth more as a public company over time, according the people, who requested anonymity because the talks were private. Talks between Cisco and Datadog are no longer active and Datadog is committed to going public, they said.A representative for Cisco declined to comment. Datadog couldn’t immediately be reached for comment.Cisco rose less than 1% to $49.72 at 10:12 a.m. in New York trading, for a market value of about $211 billion. Several rivals to Datadog also gained, including New Relic Inc., up 5.8%, Splunk Inc., which rose 3.9% and Elastic NV, which rose 3.1%.Datadog raised $648 million in its U.S. IPO Wednesday, selling 24 million shares for $27 each after marketing them at $24 to $26. The listing values Datadog at $7.83 billion.Software companies that power business processes have delivered some of this year’s best IPO debuts thanks to high margins and solid revenue. Zoom Video Communications Inc. and Crowdstrike Holdings Inc. have doubled in value since they began trading and are among the ten best performing offerings this year, according to data compiled by Bloomberg.In 2017, Cisco succeeded in buying a company on the eve of its IPO. It acquired AppDynamics Inc. for $3.7 billion right before the data analytics company was set to price its listing.(Updates share prices in fourth paragraph, details about IPO in fifth.)\--With assistance from Crystal Tse.To contact the reporters on this story: Liana Baker in New York at firstname.lastname@example.org;Gillian Tan in New York at email@example.com;Ian King in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Alan Goldstein at email@example.com, Liana Baker, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Ericsson's (ERIC) customers in China will benefit through the technology leadership, speed and capacity advantages that its automated smart factory offers.
The acquisition of RF360 Holdings allows Qualcomm (QCOM) to provide its customers with a complete end-to-end solution from modem to antenna.
(Bloomberg) -- People love renewable power projects. Just not the one next door.While states from New York to Nevada want to get most of their power from solar plants and wind farms, residents are balking at living near green projects. And unlike opposition to fossil fuels due to concerns over pollution and contamination, the hostility toward clean power is largely driven by aesthetics and property values.Rows of solar panels threaten to mar pristine vistas, while fears are rising among local residents that towering wind turbines will ruin the bucolic nature of their rural towns and drive down home prices. It’s the latest iteration of a longstanding dilemma: People want projects built for the public good —s uch as affordable housing or roads and power lines — but don’t want to be near them.“There’s a reason people live in communities like this,” said Pamela Atwater, president of a citizens’ group in upstate New York fighting a proposed wind farm on the Lake Ontario shore. “It’s a big visual impact, a big noise impact. It would change the nature, the character of where we live.”As large projects proliferate across the country, such worries are dimming the green glow that once surrounded an industry built on the promise of saving the world. For instance, supervisors for the largest county in California — a state that has committed to going carbon-free by 2045 — voted in February to block new renewable facilities near many rural desert communities. San Bernardino County saw a spate of plant construction in the last decade, and some longtime residents suddenly found their views of the desert transformed by fields of panels, said County Supervisor Robert Lovingood. “We believe in this industry, but it’s a balance,” Lovingood said, adding that the new regulations still leave plenty of room for development in a county that’s larger than Connecticut, Massachusetts and Rhode Island combined. “We don’t have to disturb more pristine desert,” he said.In New York, legislators passed a climate change plan in June calling for all of the state’s electricity to come from emissions-free sources by 2040. And yet, two upstate wind farm proposals stalled this year, one in the face of determined resistance from Atwater’s citizens’ group, the other on concerns it would threaten a bald eagle nest.“Companies are learning that the halo effect of building solar and wind projects isn’t necessarily enough to protect them from backlash from NIMBYs,” said Alicia Rivera, spokeswoman for renewable developer RES Ltd., referring to the “Not in my backyard” sentiment that has long fueled opposition to big infrastructure projects.Labeling opponents NIMBYs, however, does nothing to win them over. “Bottom line: They think local people just need to become more educated,” Atwater said. “That doesn’t fly very well.” Land-intensive and highly visible, individual solar and wind projects have often generated friction with potential neighbors. The pushback may be more noticeable now than, say, 10 years ago, simply because more projects are being proposed in more states, affecting more communities.“Maybe the easy places for these things to go have been taken,” said Cullen Howe, a senior renewable energy advocate for the Natural Resources Defense Council. “Oftentimes, the places these things are now being sited are closer to residential areas, so there’s going to be a greater number of people affected.”After residents raised concerns about their property values, a proposed NextEra Energy Inc. wind farm fell short of winning approval from Reno County commissioners in Kansas in June. Nebraska passed a law in May making it easier for land owners to challenge in court new transmission lines for wind farms. Renewable developer RES has dealt with its fair share of backlash. In April, the company canceled its Summit Lake Wind project, a proposed 130-megawatt wind farm in L’Anse Township, Michigan. RES said the decision was due to ongoing delays in the planning process, which made the project unworkable.Summit Lake faced resistance over fears that the wind turbines would spoil wilderness and discourage tourism on a quiet stretch of the Lake Superior shore. The project site, next to the L’Anse Indian Reservation, also raised concerns among the Keweenaw Bay Indian Community that the turbines would harm their ability to fish and hunt in the area.The company also canceled plans for a 600 MW wind farm in northern Indiana in September 2018. The Harvest Wind project had received pushback from the local communities in Cass and Miami counties that were concerned about property rights and safety issues. Still, the company has also met with success. In December 2018, it finished a 80-megawatt wind project in upstate New York and in March broke ground on a solar facility in Georgia.“I think people are right to ask questions about what it means to have a wind farm in a community,” said Paul Copleman, a spokesman for Avangrid Renewables, which last year canceled a wind farm in New York state. “It’s our responsibility to do our best to explain the science, explain what it’s going to mean and convey those benefits.”This story is part of Covering Climate Now, a global collaboration of more than 220 news outlets to highlight climate change. \--With assistance from Hannah Recht and Christopher Cannon.To contact the authors of this story: David R Baker in San Francisco at firstname.lastname@example.orgMillicent Dent in New York at email@example.comTo contact the editor responsible for this story: Lynn Doan at firstname.lastname@example.org, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Motorola's (MSI) new innovation center will likely provide an opportunity for students and employees to make valuable contributions to it and broader tech community.
NETGEAR (NTGR) aims to simplify and streamline IP networking for small and medium sized firms that often lack the requisite resources and technical knowledge for effectively utilizing complex audio-visual installations.
With CommScope's (COMM) new Smart Media Device and IP client platforms, operators now have an enhanced portfolio of Reference Design Kit Video Accelerator solutions, with a range of capabilities.
Anaplan, Inc., CrowdStrike Holdings, Inc., Okta, Inc. - some of the most resilient technology stocks have recently slipped to a key level and are poised for a possible bounce. That's according to All Star Charts, which pointed out software is approaching oversold territory. "Most Technology subsectors like Cloud Computing, Cybersecurity, and Internet, have been […]
Today, the DJIA rose 122 points and the S&P; 500 Index gained 0.6%. However, tech stocks Oracle (ORCL), DXC Technology, and Groupon lagged the market.