Morning Beat: Nike Inc (NKE), JPMorgan Chase & Co. (JPM), and Amazon.com, Inc. (AMZN)

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Nike Inc (NYSE:NKE) suspended its sponsorship with Maria Sharapova after she failed a doping test. Sharapova admitted to using meldonium for health issues. The drug was banned by World Anti-Doping agency as of Jan 1.

A spokesman for Nike, Kejuan Wilkins stated that “We are saddened and surprised by the news about Maria Sharapova. We have decided to suspend our relationship with Maria while the investigation continues. We will continue to monitor the situation.”

Nike Inc (NYSE:NKE)’s deal with Sharapova was valued at $70 million spread over a period of 8 years.

Talk of Britain’s potential exit from the European Union continues to cause havoc in the stock market, in the region. While the FTSE 100 index continues to perform beyond expectations, stocks that would be hurt by Britain’s withdrawal continue to trade on the red. JPMorgan Chase & Co. (NYSE:JPM) Index that tracks 11 such companies is already down by 13%.

James Illsley at JPMorgan Chase & Co. (NYSE:JPM) Asset Management expects the divergence in the stock market to continue. Financial institutions would be the hardest hit on a successful Brexit according to Illsley. Uncertainty over the June 23 outcome has already dragged the pound to a seven-year low against the dollar.

Amazon.com, Inc. (NASDAQ:AMZN) could be working on an interactive VR experiences platform if recent job postings are anything to go by. A job listing on Glassdoor indicates the tech giant is looking for a software development manager to head its VR team.

The job posting goes as far as mentioning the company’s plans for expanding beyond passive 2D content. It does not come as a surprise that Amazon is looking to immerse itself deeper on the new spectacle.

Amazon.com, Inc. (NASDAQ:AMZN) is a big player on content streaming and could be planning to use a VR platform to deliver the next generation content. Netflix, Inc. (NASDAQ:NFLX) and Hulu have already pointed to the possibility of developing apps for watching content on VR Headsets.

Cisco Systems, Inc. (NASDAQ:CSCO) and Telstra Corporation Ltd (ASX: TLS) have unveiled three new software-defined networking and network function virtualization products. The three products target areas of cloud security as well as global data center interconnection.

Cloud Gateway is one of the products that is now in beta and designed to secure internet access, cloud services, as well as Next IP networks. The virtual security application should also be a perfect fit for protecting systems from cyber-attacks as well as an authorized access.

Virtual Private Network is the other product designed to provide a secure and encrypted office network over the public internet. The product should launch later in the month. Data Center Interconnect is the third product, designed to allow business configure links between overseas and domestic data centers. Cisco Systems, Inc. (NASDAQ:CSCO) says the product will be available late in the year.

Viraj Shah

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

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