Verizon Wins Bids Worth $1.9 Billion in an Auction

The Federal Communications Commission (FCC) has announced that telecommunications company Verizon Communications Inc. (VZ) managed to win bids worth around $1.9 billion during an auction of a vital spectrum block in the 3.5 GHz band. Generally, 228 bidders participated and won bids totaling to around $4.6 billion for the mid-spectrum block. Additionally, the FCC further […]

Lyft’s Revenue Drops by 61% in the Second Quarter

North America based ride hailing firm Lyft Inc. (LYFT) announced that its revenue for the second quarter of the year dropped sharply by 61% due to travelling restrictions and stay at home orders put in place to curb spread of the deadly virus. The company says number of active riders declined by 60% to 8.69 […]

Google Acquiring 6.6% Stake in ADT for $450 Million

The parent company of Google Alphabet Inc. (GOOGL) is set to purchase 6.6% stake in ADT Inc. (ADT) in a deal where the tech giant will cash out $450 million. Google is aiming at capitalizing on its strong customer base and its tech experts to increase sale of ADT’s devices. This deal grants ADT confidence […]

Pandemic Pushes Tailor Brands to Bankruptcy

Retail holding company for men apparel Tailor Brands Inc. (TLRD) has filed for chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas. The retailer cites breakout and continued rapid spread of deadly COVID-19 which has crippled many sectors of the economy resulting to significant declined sales by the company. Among […]

Amazon Generating Unusually High Profits Amidst Pandemic

It’s not a secret that world’s leading e-retailer Amazon Inc. (AMZN) has been reaping big from the pandemic in terms of sales. Well, it seems the good fortunes for the company are just getting better with each passing day. Amazon has posted its results for the second quarter of the year ended June 30, where […]

Huawei Sold More Phones Than Samsung in the Second Quarter

Chinese tech giant Huawei Technologies overtook South Korea based Samsung Electronics (005930) in the second quarter becoming the largest seller of mobile phones in the second quarter of the year. Citing data compiled by a research company known as Canalys, Huawei shipped 55.8 million phones in the second quarter while it arch competitor Samsung shipped […]

IBM Soar Above Analysts’ Estimates in Q2 Results

U.S based Tech Company International Business Machine Corp. (IBM) announced its results for the second quarter of the year largely performing better than what analysts had estimated for the company in the quarter. In the quarter revenue for the cloud business of IBM increased by a significant 30% to $6.3 billion. The company recorded earnings […]

Bilibili Eyeing a Secondary Listing in Hong Kong

China based video website Bilibili Inc. (BILI) has said that it is considering having a secondary listing in Hong Kong. Internal sources with direct knowledge on the matter made the revelation further saying renewed tensions between China and the United States is among the top reasons prompting the company make the move. Bilibili makes the […]

Allstate to Acquire National General in a Deal Worth $4 Billion

U.S based insurance company Allstate Corp (ALL) has announced its intention to acquire National General Holdings Corp (NGHC) with an aim of expanding its insurance business even though the insurance sector has been greatly affected by the pandemic due to reduced claims emanating from reduced road traffic. National General declares automobile insurance as its core […]