Morning Beat: Amazon.com, Inc. (AMZN), QUALCOMM, Inc. (QCOM), and GlaxoSmithKline plc (ADR) (GSK)
Amazon.com, Inc. (NASDAQ:AMZN) continues to bolster its cloud computing business. The latest move comes having acquired NICE, a software developer firm for technical computing. With the acquisition, Amazon Web Services stands to gain access to the firm’s massive clientele base that spans diverse areas of aerospace, energy, and utilities.
Amazon.com, Inc. (NASDAQ:AMZN) expects the deal to close in the first quarter of the year. There is no word on the amount of money the e-commerce giant paid for the Italy-based cloud computing firm. Amazon Web Services brought in $2.4 billion in revenue in the fourth quarter.
The acquisitions could is likely a way for the parent company to spur growth.
Britain’s competition authority has handed GlaxoSmithKline plc (ADR) (NYSE:GSK) a £37.6 million fine. The fine covers all damages caused by the company’s anti-competitive practices in relation to its antidepressant drug Seroxat.
GlaxoSmithKline plc (ADR) (NYSE:GSK) is accused of paying drug makers £50 million between 2001 and 2004 to delay the launch of cheaper versions of its blockbuster drug. Generics UK Limited and Alpharma were also not spared, having also incurred individual fines, bringing the total fine to £45m
The drug maker has already disputed The Competition & Markets Authority decision saying it is considering appealing against the ruling. The drug maker in its defense says its actions saved the NHS money.
QUALCOMM, Inc. (NASDAQ:QCOM)’s latest modem chip promises to be the real deal in supporting superfast internet speeds. The new chip, Snapdragon X16 modem, should support LTE download speeds of up to 1Gbps. Upload speeds could clock highs of 150Mbps depending on the network one is connected to, with the chip.
The new chip does not use an extra chunk of spectrum to send data but instead makes better use of what is already available. QUALCOMM, Inc. (NASDAQ:QCOM) says the new chip will be used in existing chip hardware as a separate modem. The only drawback at the moment is that very few LTE networks provide close to 1Gbps internet speeds.
A virtual reality headset that does not need a smartphone or PC could be the next masterpiece from Alphabet Inc (NASDAQ:GOOGL) labs. According to the Wall Street Journal, the tech giant is planning to give the likes of Oculus, HTC, and Sony a run for their money with the new headset.
HTC, Sony Corp (ADR) (NYSE:SNE) and Samsung have already released a virtual reality headset that needs a smartphone to operate.
Reports also indicate the search giant is working on a new version of its cardboard headset that will feature its own chips as it looks to make it more powerful.
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