Mid-Day Coffee Break: QUALCOMM, Inc. (QCOM), Alibaba Group Holding Ltd (BABA), Tesla Motors Inc (TSLA)
US markets opened higher and then have fallen a bit from the days high. The DJIA is currently trading flat and is up by 30.43 points while NASDAQ is up by 0.40% to trade at 5064.53. The probability of Fed rate hike increased after US retail sales saw a rebound in July. European markets closed the day in green with DAX closing up by 0.8% while CAC was up by 1.3%.
QUALCOMM, Inc. (NASDAQ:QCOM) is clear on what it wants to focus on. The company Adreno 530 architecture will focus on VR gaming and superior image quality. QUALCOMM, Inc. (NASDAQ:QCOM) will take on Advanced Micro Devices, Inc. (NYSE:AMD) in GPGPU market.
Alibaba Group Holding Ltd (NYSE:BABA) has seen a rebound in today’s trading session after yesterday’s selloff. The stock is currently trading up by 3.91% at 76.25. Alibaba Group Holding Ltd (NYSE:BABA) sold off yesterday on concerns of it not being able to dominate mobile commerce in China. However, the slowdown and slump in China’s economy could provide required cushion in near term.
Tesla Motors Inc (NASDAQ:TSLA) shares are trading up after the company announced stock offering of $500 million; the move has been cheered by investors. Tesla Motors Inc (NASDAQ:TSLA) is currently trading at 4.3 times of its forward sales, the future of the company will depend largely on the demand from Model S and whether Model X hits market as per the given timeframe.
It was Samsung Elect(F) LTD (OTCMKTS:SSNLF) all the way since morning as the company announced the official launch date of Samsung Pay. The payment service will be launched on August 20 in Korea, and will be available in US from September 28 onwards. Samsung Elect(F) LTD (OTCMKTS:SSNLF) also announced Samsung Galaxy Note 5 and Galaxy S6 Edge+.
Twenty-First Century Fox Inc (NASDAQ:FOXA)’s Fox sports digital buys some assets from online sports startup StraightCast Media. The purchase would include mobile video app Gridiron Grunts which is used by NFL players for live streaming and sharing with fans. Twenty-First Century Fox Inc (NASDAQ:FOXA) didn’t the pricing details.
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