Facebook's annual F8 developer event kicked off today, and the company had a number of pretty big announcements. Among them was news of plans to build a dating platform directly into its mobile apps—news investors in Match Group, the owner of a whole lot of online dating services including Tinder and Match.com, didn't take very well. As of this writing, the company's stock is down more than 20 percent.
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Microsoft's stock price rose this week, briefly seeing the company join the pantheon of trillion-dollar tech giants. MSFT opened at $121.05 Monday morning and peaked at $125.76 Tuesday, nudging the company's valuation over the $1 trillion mark. The price has since fallen.
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On August 2, Apple became the first US company to reach a total market capitalization of $1 trillion. Now, just a month and change later, Amazon has done the same — however briefly. The online retail behemoth's stock hit a new high of $2,049.50 per share around 11:30 a.m., Eastern time this morning, momentarily nudging its market cap over the trillion-dollar line.
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Xiaomi has published its financial results for the second quarter of 2018. Turns out, as you'd expect from a company that recently became more valuable than LG, things are going pretty well for the Chinese manufacturer.
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We're pretty keen on Android news here, but some things outside our immediate purview are significant enough to be worth mentioning. Here's one: today, Apple became the first US company to surpass a total market capitalization of $1 trillion (trillion as in a thousand billions).
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Samsung has posted its financial results for the second quarter of 2018. Following two glowing quarters, Q2 2018 was relatively cool, with sales and profits falling compared to both last quarter and Q2 2017. The Korean electronics manufacturer said that "softer sales" of both the Galaxy S9 line and display panels were largely to blame.
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Most of our readers should probably be familiar with MoviePass—if not for the company's movie ticket-accessing subscription service, at least for its presence in the news for the last few days. If you'll recall, MoviePass owners Helios and Matheson Analytics Inc. recently performed a reverse-split for the company's shares to drive up stock prices, but not with much success. More recently, everyone's favorite $6.95 a month service ran into a bit of a snag last night, resulting in a date night-stopping outage. Turns out, that's because the company literally just ran out of money. After borrowing $5 million to turn the lights back on, stock for the parent company took a nosedive to $1.98 (at the time of writing), down 70% over the last 24 hours.
Read MoreMoviePass is losing money. This isn't news — the venture hasn't been profitable since it started out. The hope is to eventually make money. That hasn't helped Helios and Matheson Analytics, though, which owns 92 percent of MoviePass. The company's stock price has been tanking, which prompted its board of directors to approve a reverse stock split that took effect at the end of trading yesterday. This hasn't improved matters yet; since opening this morning, shares have fallen nearly 40 percent.
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For years now, it's been possible to follow your favorite stocks through Google Now / Feed, or by searching for certain stocks and adding them to your list. However, Assistant currently only understands general questions about stock prices, but doesn't yet know which ones you're interested in. Contrary to regular Google Search which knows what "my stocks" are, Assistant comes up with "I can't do this yet." No bueno. (Yet another symptom of the terrible transition between Google Search and Assistant.) But Google is working on bridging the gap by adding stocks to your Assistant settings.
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It's that time of the... quarter. 2018 Q1 financial reports are being published by most of the big tech names, and Samsung is likely pretty pleased with its performance so far this year. It isn't quite as high as the impressive 2017 Q4 results it previously posted, but it's sitting pretty with a total of KRW 60.56 trillion ($56 billion) in revenue, with KRW 15.64 trillion ($14.51 billion) in operating profit. That's a revenue increase of 20% and an operating profit increase of over 50% compared to Q1 2017, beating expectations.
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