Morning Beat: Royal Dutch Shell plc (ADR) (RDS.A), Tesla Motors Inc (TSLA), and Alphabet Inc (GOOGL)
Royal Dutch Shell plc (ADR) (NYSE:RDS.A) has announced new cost cutting measures that will target more than 10,000 jobs having seen its profits plunge by 80% to 13-year lows. The cuts will also seek to eliminate redundancies as the anglo-dutch company moves to accommodate BG Group.
Royal Dutch Shell has already slashed about 7,500 jobs and will target a further 2,800 on BG coming on board. Such measures should excite investors. Shell has said it will maintain its annual dividend offer at $1.88 a share.
Royal Dutch Shell plc (ADR) (NYSE:RDS.A) has come under criticism for pursuing such an expensive acquisition at the back of oil prices plunging to multiyear laws. Amidst the wave of criticism CEO, Ben van Beurden, has reiterated his optimism about the company’s future at the back of the $47 billion takeover.
Tesla Motors Inc (NASDAQ:TSLA) CEO, Elon Musk, next big idea is developing an electric jet that can take off vertically. It is not the first time that charismatic executive has taken the tech world by surprise on what he believes could pan out in future. In 2013, he proposed a Hyperloop high speed train system an idea that he has since gone quite on.
Fast forward, an electric jet able to take off and land vertically would mean doing away with runways. Musk says he has a design in mind for the electric plane and is waiting to see if it will amount to anything or it will just end up being another Hyperloop thought.
Alphabet Inc (NASDAQ:GOOGL) believes its system of neural networks, AlphaGo, built by its AI Company DeepMind has what it takes to beat ancient Chinese board game, Go Player. The ancient game is considered far harder than Chess. The company is awaiting to see how DeepMind will fair during the planned showdown.
AlphaGo has already beaten the European Champion of the game and is now being prepared for its biggest test yet. Google says it will live stream a series of games pitying the two. The five-match game is to take place between March 9th and March 15thin Seoul.
Alphabet Inc (NASDAQ:GOOGL) will reportedly endorse QUALCOMM, Inc. (NASDAQ:QCOM)’s server chips next week a decision that should have some ripple effect in the industry. The tech giant is the world’s largest buyer of server chips, and such an endorsement is not expected to go well with Intel Corporation (NASDAQ:INTC)
Intel is currently considered the heavyweight when it comes to server chips, but Google endorsement could spell trouble. QUALCOMM, Inc. (NASDAQ:QCOM) is considered a big threat to the chip giant’s server business having already accrued some dominance in the mobile market.
Intel Corporation (NASDAQ:INTC) should feel threatened with the endorsement as the sale of chips for server remains a key driver of earnings, having failed to gain traction in the phone business.
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