Morning Beat: Chevron Corporation (CVX), EMC Corporation (EMC), and Microsoft Corporation (MSFT)
Chevron Corporation (NYSE:CVX) is against the construction of another refinery in South Africa. The slowing oil economy according to the company will only lead to a glut in the market as demand remains low. Six of the country’s refineries already process more than enough barrels of oil a day, exceeding demand.
Construction of another refinery according to Chevron Corporation (NYSE:CVX)’s Local unit chairman Shash Rabbipal will force the country to enter the exports market. That can only happen with a change of the current policy that calls for supply to cater for local demand.
The country’ PetroSA is calling for the construction of the largest plant in the continent which could increase the country’s production capacity by 43%.
Dell is closing in on a $53 billion deal that will see it acquire data storage provider EMC Corporation (NYSE:EMC). The parties are however yet to sign the deal as they try to find a way around VMware, Inc. (NYSE:VMW) that EMC owns 80% stakes. Dell is also in negotiation with banks to raise $40 billion in debt to finance the deal
The deal if approved would result in a corporate computing giant eclipsing the $37 billion Broadcom-Avago merger. EMC Corporation (NYSE:EMC) comes into the deal with a market capitalization of $53.6 billion and VMWare’s market cap of $32.3 billion. Dell is hoping to use the deal to start offering computer services as it core business of making personal computers faces uncertainties.
Acer is the latest company to announce support for Microsoft Corporation (NASDAQ:MSFT)’s Windows 10 ecosystem. The hardware maker has unveiled two computers that will run on new operating system.
The software giant says it worked closely with Acer to ensure users make the most of Windows 10. The Aspire R14 notebook and Aspire Z3-700 are the two new devices optimized to take advantage of new features including Cortana and Continuum.
Microsoft Corporation (NASDAQ:MSFT) still leads the charge in terms of devices currently running on Windows 10. It is fresh from releasing Surface Pro 4, Surface Book and Two Lumia devices that it hopes will bring more than a billion people into the Windows ecosystem.
Twitter Inc (NYSE:TWTR) is slowly becoming a broadcaster of the sort as video viewing on the platform is already up by 250%. With about 316 million users reportedly viewing 370 years of video a day, the network could have stumbled on an effective way of bolstering engagement levels.
Twitter Inc (NYSE:TWTR) is now hoping to persuade more broadcasters and producers to produce more short videos that will help drive conversations on the platform. Developing relationships with video developers on YouTube to start producing short videos for the platform is also a point of consideration.
Growing native video on the platform is the company’s next big play as it could have a big impact in attracting more ad spends on video campaigns.
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