Morning Beat: Barclays PLC (ADR) (BCS), Twitter Inc (TWTR), and Microsoft Corporation (MSFT)
Barclays PLC (ADR) (NYSE:BCS) is looking for potential buyers as it looks to offload a 12% stake in its Barclays Africa Group. The selloff is part of a plan that seeks to sell down the entire 62.3% stake in the business.
Barclays says it will sell 103.6 million shares, 12% stake, in the African business, listed on the Johannesburg stock exchange.
Under the leadership of the current CEO, James Staley, Barclays has been on a sell-off spree of assets it does not consider core operations. With the selloff, the lender intends to focus on two key divisions; the British consumer bank and the corporate and investment bank.
Twitter Inc (NYSE:TWTR)’s video sharing app Periscope is testing a new feature that will allow users to retain their broadcasts forever. By adding #save to video titles, broadcasts’ should stay around for viewing, beyond the 24-hour current limit. Videos with the tag will remain in broadcast mode until an owner decides to delete them.
The new feature could be Twitter Inc. (NYSE:TWTR)’s response to Facebook Inc (NASDAQ:FB)’s live feature whose videos are permanent. Given that video is becoming a key component of social media such upgrades will be the order of the day as the embattled social network tries to bolster engagement levels on the platform.
Microsoft Corporation (NASDAQ:MSFT)’s Azure revenues are not growing fast enough to offset Amazon.com, Inc. (NASDAQ:AMZN)’s dominance of the cloud business. According to latest findings, Azure is still far off the $10 billion mark in terms of cloud revenue that the e-commerce giant generates.
Azure according to Barron’s generated $560 million in revenue for the first three months of the year, despite growing faster than Amazon Web Services. Amazon $2 billion lead remains, intact in this case further affirming why it is a force to reckon with in the business.
Microsoft expects its Azure and Office 365 revenue run rate to exceed $20 billion by 2018. Given that, it is grappling with an estimated $600 million quarter-on-quarter decline in server products revenue, it could struggle to achieve this feat. A $300 million quarter-on-quarter growth in Azure and Enterprise Services will not be enough to offset the deficit in this case.
Apple Inc. (NASDAQ:AAPL) has patched two critical flaws that if manipulated could have led to remote code execution. First detected in March, the vulnerabilities according to security researcher, Mattias Geniar, if unattended could have left both server and client based systems vulnerable to attacks.
The fix according to Apple Inc. (NASDAQ:AAPL) will target Xcode git version control system implementation and will consequently bring Xcode to version 7.3.1. The fix also targets CVE-2016 and CVE-2016-2324. In March, the tech giant also issued a similar update that resolved an activation bug that prevented users from activating their devices after updating.
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