Tech Stocks That Move The Market

'People can't apply to jobs they don't know exist': 2 simple ways employers can find Black talent

As companies struggle to invest in diversity, Harlem Capital managing partner Jarrid Tingle shares two tangible ways to make meaningful change.

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  U.S. Unemployment Dipped To 11.1% In June, Fueled By Workers Returning From Temporary Layoffs

  Deadline
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  Airline, Travel Stocks Could Be In Focus Today As Stronger-Than-Forecast Jobs Report Boosts Sentiment

  Benzinga

Diversity is a $1.5 trillion economic opportunity in the US: former Unilever CEO

One long-time champion of conscious capitalism says way more needs to be done by business leaders on equality. It's just the right thing to do for all parties involved.

Apple is closing stores in these 11 states as coronavirus outbreaks soar

Apple is closing 77 stores across 11 states that are seeing new coronavirus spikes.

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  More Apple stores now closed: 28% of stores listed as temporarily closed as COVID-19 cases rise

  USA TODAY
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  Apple to re-close more stores in seven U.S. states, bringing total to 77

  Reuters

Facebook is shutting down Lasso, its TikTok clone

Facebook is no longer betting on Lasso, an app it launched a year and a half ago, to take on TikTok . The social juggernaut's TikTok clone is shutting down on July 10, Lasso alerted users on Wednesday. Launched in late 2018, Lasso was seen as Facebook’s answer to TikTok that's gained ground with young users, both in China and in the West.

Why Pinterest Shot as Much as 5.5% Higher on Thursday

Pinterest (NYSE: PINS) rose as much as 5.5% on Thursday before settling down to close 3.6% higher. The online hobby-posting company continued to benefit from the news that social media behemoth Facebook (NASDAQ: FB) is shuttering Hobbi, its experimental Pinterest-like pinning app. Facebook rolled out Hobbi in February, promising users the ability to "capture and organize your creative process."

Facebook Under Fire as Companies Pause Social Media Ads: List

(Bloomberg) -- Here’s a list of companies that are planning to halt spending on social media. Some have joined a boycott of Facebook Inc. after critics accused the social network of inadequately policing hateful and misleading content on its platform:Harley Davidson Inc. -- The motorcycle maker said in an email it was pausing Facebook ads in July “to stand in support of efforts to stop the spread of hateful content.” Pernod Ricard SA -- The French distiller of Jameson whiskey and Absolut vodka, which spends more than 1.5 billion euros ($1.69 billion) on advertising annually, is boycotting Facebook and some other U.S. sites through July 31 and working with partners on an app to help victims of online abuse.Daimler AG -- The Mercedes-Benz maker is pausing its paid advertising on Facebook platforms in July, while adding that it expects to the relationship to resume because it’s confident the social-media company will take “necessary steps.”Molson Coors Beverage Co. -- The brewer is choosing to pause advertising on Facebook, Instagram and Twitter while it reviews its own standards and ways to protect the brands and guard against hate speech, Chief Marketing Officer Michelle St. Jacques said in an internal email.Constellation Brands -- The maker of Corona beer and Kim Crawford wines is pausing Facebook ads for the month of July.Dunkin’ Brands Group -- The donut chain is temporarily pausing its paid media on Facebook and Instagram, a spokesperson says, adding that it’s in discussions with Facebook about efforts to stop hate speech and thwart “the spread of “racist rhetoric and false information.”Lego A/S -- Stopping all advertising on social media for at least 30 days to review its standards and will “invest in other channels” during that time.The Body Shop -- The beauty chain says it’s halting paid activity on all Facebook channels and asking the social-media company to enhance and enforce its content-moderation policies.Starbucks Corp. -- Pausing advertising on all social media platforms. Will post on social media without paid promotion.Microsoft Corp. -- Paused global advertising spending on Facebook and Instagram because of concerns about ads appearing next to inappropriate content, according to a person familiar with the matter.Unilever Plc -- Halting advertising on Facebook, Instagram and Twitter in the U.S. through Dec. 31.Volkswagen AG -- The ad stop on Facebook affects the direct ad accounts of the German manufacturer’s brands, including Porsche, Audi and Lamborghini. VW, its ad agencies and the Anti Defamation League will enter talks with Facebook over how to deal with hate speech, discrimination and false information, according to an emailed statement.Mars -- Starting in July, a pause on paid advertising globally across social-media platforms, including Facebook, Instagram, Twitter and Snapchat.Target Corp. -- Pausing ads on Facebook in July.Coca-Cola Co. -- Pausing advertising on all social media platforms.Clorox Co. -- Will stop advertising spending with Facebook through December.Conagra Brands Inc. -- Will stop advertising in U.S. on Facebook and Instagram through the rest of the year.Ford Motor Co. -- Halting U.S. social media for 30 days, won’t purchase social media ads for Bronco unveiling.Honda Motor Co. -- “For the month of July, Honda will withhold its advertising on Facebook and Instagram, choosing to stand with people united against hate and racism.” Acura, a Honda brand, said in a tweet that it was “choosing to stand with people united against hate and racism.”Hershey Co. -- Will halt spending on Facebook in July and cut its spend on the platform by a third for the remainder of the year, according to Business Insider.Diageo Plc -- Pausing paid advertising globally on major social media platforms beginning in July.PepsiCo Inc. -- Pulling ads on Facebook from July through August.Verizon Communications Inc. -- “We’re pausing our advertising until Facebook can create an acceptable solution that makes us comfortable and is consistent with we’ve done with YouTube and other partners,” said John Nitti, chief media officer for Verizon.SAP SE -- “We will suspend all paid advertisements across Facebook and Instagram until the company signals a significant, action-driven commitment to combatting the spread of hate speech and racism on its platforms.”Levi Strauss & Co. -- Pausing all paid Facebook and Instagram advertising globally and across all brands through July.Diamond Foundry Inc. -- Pulling all of advertising from Facebook, including Instagram, for the month of July.Patagonia Inc. -- Will pull all ads on Facebook and Instagram, effective immediately, through at least the end of July, pending meaningful action from Facebook.Viber Media Inc. -- The messaging service, owned by Japanese conglomerate Rakuten, plans to cut ties with the social network entirely, according to the Guardian.VF Corp. -- The North Face will pause ads on Facebook for the month of July. Vans, another VF brand, will also pull ad dollars from Facebook and Instagram next month, and said it will use the money to support Black communities through empowerment and education programs.REI -- “For 82 years, we have put people over profits. We’re pulling all Facebook/Instagram advertising for the month of July.”Upwork Inc. -- No Facebook advertising in July.Eileen Fisher Inc. -- Pulling ads from Facebook through July.Adidas AG -- Will stop ads on Facebook and Instagram internationally through July, according to Adweek.Puma SE -- Will stop all advertisements on Facebook and Instagram throughout July.Madewell Inc. -- Will pause ads on Facebook and Instagram through July.Pfizer Inc. -- Removing all advertising from Facebook and Instagram in July, calls on Facebook to heed the concerns of the StopHateForProfit boycott campaign “and take action.”Chipotle Mexican Grill Inc. -- To pause Facebook advertising beginning July 1, according to an email.Chobani -- The Greek-yogurt company paused all paid social-media advertising.Peet’s Coffee -- Paused advertising on Facebook.(Updates with Harley Davidson)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Paypal (PYPL) Stock Sinks As Market Gains: What You Should Know

Paypal (PYPL) closed at $177.21 in the latest trading session, marking a -0.12% move from the prior day.

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  Enterprise Products Partners (EPD) Stock Sinks As Market Gains: What You Should Know

  Zacks
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  Schlumberger (SLB) Outpaces Stock Market Gains: What You Should Know

  Zacks

Facebook (FB) Stock Sinks As Market Gains: What You Should Know

Facebook (FB) closed at $233.42 in the latest trading session, marking a -1.74% move from the prior day.

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  PepsiCo (PEP) Gains But Lags Market: What You Should Know

  Zacks
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  Canopy Growth Corporation (CGC) Outpaces Stock Market Gains: What You Should Know

  Zacks

Nasdaq Soars into 4th of July Weekend at Fresh All-Time Highs

The Dow, Nasdaq and S&P were all up for the week. The Nasdaq closes the week at a new all-time high of 10,207.63.

Nasdaq Hits New Records as Tesla Delivers, Keeps Soaring

The Nasdaq exchange has had some of the most exciting companies in the stock market, and they've helped to make the Nasdaq the first major market benchmark to reach new highs. There are plenty of stocks listed on the Nasdaq that have seen impressive gains lately. Shares of Tesla finished the day up around 8%, adding to big gains throughout the week.

• Nasdaq Hits Record High, FedEx Soars

  U.S.News & World Report
• Tesla stock hits fresh record as Wall Street awaits Q2 sales

  MarketWatch

Why Amazon Shares Rose 13% in June

Amazon.com (NASDAQ: AMZN) shares rose 13% in June, according to data provided by S&P Global Market Intelligence. Amazon stood out early in the crisis as a stock to buy as consumers stockpiled their pantries with essentials and opted for online shopping. At the same time, Amazon Web Services (AWS), the company's cloud-computing business, saw demand linked to the outbreak as well.

Elon Musk Taunts the SEC Amid Surge in Tesla Stock Price

(Bloomberg) -- Elon Musk provoked the U.S. Securities and Exchange Commission in the course of taking a victory lap on Twitter over Tesla Inc.’s surging share price.The chief executive officer first taunted short sellers in a string of tweets, writing that the electric-car maker would “make fabulous short shorts in radiant red satin with gold trim.” That’s an apparent reference to jokes he’s repeatedly made about sending “short shorts” to investors who bet against Tesla’s shares, such as hedge fund manager David Einhorn.Musk, 49, then wrote Thursday that he would send shorts to the SEC, referring to the agency again as the “Shortseller Enrichment Commission.” He first used that phrase in October 2018 after the regulator sued him for securities fraud.Musk then tweeted a cryptic but profane play on the agency’s initials, prompting Ross Gerber, a fund manager who regularly engages with him on Twitter, to write back: “Dangerous.” Musk responded: “But sooo satisfying.”Musk and the SEC have a combative history. The agency sued him in September 2018 over tweets he sent a month earlier claiming that he had secured funding to take Tesla private at $420 a share. As part of a settlement agreement, Musk was required to pay a $20 million fine, step down as Tesla’s chairman for three years and have some of his tweets pre-approved by a company lawyer.The SEC took Musk back to court last year after he failed to clear a tweet about Tesla’s production with his in-house counsel. The two sides eventually agreed to amend the earlier settlement to add specific topics the billionaire can’t tweet about or otherwise communicate in writing without advance approval.Hours after a federal judge signed off on the amended deal in April 2019, then-SEC Commissioner Robert Jackson publicly criticized it, saying in a statement that Musk had not been sufficiently punished for failing to adhere to restrictions on his social media use.In December 2018, Musk told “60 Minutes” that he did not respect the SEC. A spokesperson for the agency declined to comment on his latest tweets.Tesla disclosed in February that the SEC sent the company a subpoena regarding “certain financial data and contracts” including “regular financing arrangements.” One analyst speculated the regulator may have been looking into how the company managed to build an assembly plant near Shanghai last year while spending just $1.3 billion on capital expenditures.A better-than-expected quarterly deliveries report sent Tesla’s shares surging 8% to a record close of $1,208.66 on Thursday. The stock has almost tripled this year.(Updates with additional tweets in the fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  Elon Musk Talks New Full Self-Driving Features, Autopilot Rewrite

  Benzinga
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  Why Tesla (TSLA) Shares Are Soaring Today (Again)

  Zacks

Why Tesla (TSLA) Shares Are Soaring Today (Again)

Tesla stock seems to be on an endless rally to the moon

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  Tesla Delivery Beat Sends Shares Surging Toward Top Price Target

  Bloomberg
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  Tesla May Not Be Done Rallying After Big Deliveries Beat

  TheStreet.com

Here's Why Microsoft Stock Was Up 11% in June

Shares of Microsoft Corporation (NASDAQ: MSFT) increased another 11.1% in June, according to data provided by S&P Global Market Intelligence. With investments in personal computers, cloud, and video games, Microsoft continued to excel even while people were sheltering at home during the coronavirus pandemic. Microsoft has been so successful that it's closing physical retail locations for good.

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  Stock market news live updates: Stocks jump after June jobs data smash expectations

  Yahoo Finance
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  All Eyes on June Jobs Report

  FX Empire

Top Research Reports for Netflix, Exxon Mobil & Amgen

Top Research Reports for Netflix, Exxon Mobil & Amgen

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  Exxon signals second quarterly loss in a row on production, refining hits

  Reuters
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  Exxon signals 2nd straight quarterly loss

  Reuters Videos

Dow Jones Rises on Jobs Report; Apple and McDonald's Hit the Brakes; Exxon Discloses Big Earnings Hit; Boeing's 737 Max Certification Flights Complete

The Dow's rally drove shares of Apple (NASDAQ: AAPL), McDonald's (NYSE: MCD), ExxonMobil (NYSE: XOM), and Boeing (NYSE: BA) higher despite mixed news. Apple and McDonald's pulled back on store reopening plans due to a surge in COVID-19 cases, Exxon disclosed that it would take a large earnings hit in the second quarter, and the FAA completed certification test flights for Boeing's 737 Max.

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  McDonald's pauses U.S. reopening plans as COVID-19 cases spike

  Yahoo Finance Video
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  UMass Lowell Releases Coronavirus Reopening Plan For Fall

  WBZ TV Feed - CBS Boston

2 Things to Know About NVIDIA’s Mercedes-Benz Deal

NVIDIA (NASDAQ: NVDA) and the Mercedes-Benz division of Daimler AG (OTC: DMLRY) (OTC: DDAIF) are teaming up to truly build a computer on wheels. The two companies recently announced a collaboration to build a new computing system for cars, powered by NVIDIA's DRIVE AGX Orin technology. This new high-performance car computer will be used in new vehicles from Mercedes-Benz starting in 2024.

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  Mercedes-Benz to end luxury subscription service: Report

  Fox Business
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  Mercedes Benz Sprinter adds new diesel variant

  Carmudi

Home Building Stocks Are Attractive Now

Here are 5 stocks that can help you play this attractive segment.

Tesla Skeptic Marvels at $48 Billion Boost From One Data Point

(Bloomberg) -- Tesla Inc.’s cars may run on batteries, but its stock price is fueled by “the power of the narrative,” according to an analyst with a sell rating on the shares.In a report Thursday, Joe Spak of RBC Capital Markets marveled at how the electric-car maker has managed to add about $48 billion of market capitalization by ginning up excitement about its quarterly vehicle deliveries.On June 24, Tesla’s investor-relations team shared a collection of delivery estimates that found analysts on average were expecting the company to hand over about 70,300 vehicles to customers. The market recognized this as a low bar, triggering gains that were further supported by two bullish emails Chief Executive Officer Elon Musk sent to employees that leaked to several media outlets.By the time Tesla reported 90,650 deliveries on Thursday, its shares had surged about 27% over the course of seven trading days, outpacing the S&P 500’s roughly 3% gain. The company added more market cap in that span than General Motors Co. or Ford Motor Co.’s entire valuations.“That, is remarkable,” Spak wrote. He estimates Tesla topped consensus delivery estimates by the equivalent of about $1 billion of revenue, meaning investors are valuing the beat at about 47.5 times sales.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  Tesla Delivery Beat Sends Shares Surging Toward Top Price Target

  Bloomberg
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  Tesla's second-quarter deliveries send shares surging

  Reuters Videos

Facebook Accused by Black Manager of Systemic Discrimination

(Bloomberg) -- Facebook Inc. was accused of systemic discrimination in hiring, compensation and promotion of Black people in a complaint to federal civil rights authorities.Thursday’s complaint to the U.S. Equal Employment Opportunity Commission by a Washington-based operations program manager adds pressure on the social network, which is facing an advertising boycott over its failure to remove violent, divisive, racist and discriminatory posts. Along with other major tech companies, Facebook also has been criticized for its lack of diversity.Oscar Veneszee Jr., a decorated 23-year U.S. Navy veteran hired by the company in 2017 to recruit other workers retired from the armed services, said he filed the complaint after his objections to Facebook managers over treatment of African Americans went nowhere. It was filed as a class action to represent other Black people who’ve experienced discrimination inside the company, as well as those who claim they were unfairly denied jobs with the social network.“The only way to get contributions from Black experience is to have more Black employees at the company,” Veneszee said in an interview. “I think the desire is there, but I don’t think there’s an understanding of what’s required to transition to a company that’s more open, to being diverse, bold.”Facebook said “we take any allegations of discrimination seriously and investigate every case.””We believe it is essential to provide all employees with a respectful and safe working environment,” spokesperson Pamela Austin said in an email.Facebook, along with Google and Microsoft Corp., have renewed pledges to prioritize diversity in the wake of nationwide protests and calls to end systemic racism after the police killing of George Floyd. Veneszee said he was motivated to complain to the EEOC in part by recent protests.“We are really as a country talking about getting it right this time,” Veneszee said in the interview. “As I look at our response, I don’t think it has connected to the pain deep enough in order to develop solutions that are going to be better for us as a company.”A recent Bloomberg News analysis of diversity reports published by the world’s biggest tech companies shows little progress has been made transforming them from a predominantly white and male universe, with Black workers remaining mostly absent from management ranks and underrepresented in technical roles.Read More: Zuckerberg Agrees to Meet With Groups Behind Advertising BoycottDespite success at his job and positive feedback from managers, Veneszee said in the complaint, he was denied promotions, stalled by evaluations that said he merely “meets all expectations” as he ran into hostility and discrimination.Veneszee described his frustration as a Black employee of a company where, according to Facebook’s own figures, just 1.5% of employees in technical roles in the U.S. were Black in 2019, and 3.1% were Black among senior leadership. Those percentages have barely budged even as the company has added tens of thousands to a workforce that has grown by 400% over the last five years, according to the complaint.“There’s really no representation of diversity, of Black employees in mind, all the way across the company,” he said in the interview.Veneszee recalled being forced to apologize to a white recruiter after questioning a plan for interns that listed only one of the nation’s more than 100 Historically Black Colleges and Universities. He was told the question drove the recruiter to tears. After being routinely told that he must use the right “tone,” he said he came to realize the company is tone deaf toward Blacks.“Me asking about HCBU shouldn’t make you feel attacked, it shouldn’t offend you if we’re talking about diversity,” Veneszee said. He said it made him feel as if “the way I say things fell on a different set of ears at Facebook.”An EEOC spokesman said the agency can’t confirm or deny when complaints are filed and said they are handled confidentially.Veneszee’s lawyer, Peter Romer-Friedman of the Gupta Wessler firm, said the alleged violations of the Civil Rights Act of 1964 in the complaint should be viewed as an invitation to negotiate.The complaint seeks an independent monitor to determine if Facebook is making progress hiring more Blacks, or if stronger measures are required, he said.“We’re trying to extend an olive branch,” the lawyer said in an interview. “Oscar’s not trying to burn down the company from the inside or outside.”(Updates with company comment in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Google's Latest Attempt to Fight Back Against Amazon

Amazon (NASDAQ: AMZN) has been stealing away Google's most valuable searches over the last several years. More product searches begin on Amazon.com than the search engine owned by Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). In order to combat the growing popularity of product searches on Amazon, Google's offering brands and retailers free listings on its main search results.

Dow Jones Futures: Coronavirus Stock Market Rally Fades, But Four New Breakouts; What's Next For Tesla?

The coronavirus stock market rally had a strong week despite Thursday's fade. Teladoc lead new breakouts. What's next for Tesla after a blowout week?

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  Late Sell-Off Hits Dow Jones, Nasdaq Up; Will Moderna Send A Sell Signal Or A New Buy Point?

  Investor's Business Daily
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  Dow Jones Soars 450 Points On 'Great Jobs Numbers'; Apple Nears Record, While Tesla Surges 9% On Strong Deliveries

  Investor's Business Daily

In cloud clash with Alibaba, underdog Tencent adopts more aggressive tactics

For Chinese cloud services companies, the coronavirus outbreak has become a rainmaker, bringing in new business far and wide as firms shift work online and authorities develop apps and systems to help contain outbreaks and manage social restrictions. For Tencent Holdings Ltd in particular, it has also become the perfect time to flex new muscles as it seeks to catch up with Alibaba Group Holding Ltd, its arch-rival and the dominant player in the country's cloud market by far. Tencent began to display a new level of aggressiveness after positioning its cloud business as a major area of growth in September 2018, and that has only amped up amid the pandemic, employees say.