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Dropbox expects drop in first-quarter operating margin, shares fall

Illustration photo of the Dropbox app
The Dropbox app logo seen on a mobile phone in this illustration photo October 16, 2017. REUTERS/Thomas White/Illustration/File Photo

February 21, 2019

(Reuters) – File sharing and storage company Dropbox Inc on Thursday beat Wall Street estimates for quarterly revenue and profit, benefiting from an expanded customer base and higher revenue per user.

Shares of the San Francisco-based company were up 2.6 percent at $26.26 in extended trading.

Dropbox said it had 12.7 million subscribers at the end of three months on Dec. 31, beating analysts’ average estimate of 12.54 million, according to FactSet.

The company reported average revenue of $119.61 per user, beating estimates of $118.8, according to IBES data from Refinitiv.

Started as a free service to share and store photos, music and other large files, Dropbox now offers a range of enterprise software services.

Quarterly loss narrowed to $9.5 million in Dropbox’s fourth financial report as a publicly traded company, from $37.7 million a year earlier. The company is yet to turn a profit, which is common for startups that invest heavily in growth.

Excluding items, the company earned 10 cents per share, beating estimates of 8 cents.

Total revenue rose 23 percent to $375.9 million, above estimates of $370 million.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Shinjini Ganguli)

Source: OANN

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Warren, Amazon spar in Twitter war, as 2020 Dem accuses tech giant of ‘deliberately misconstruing’ facts

Elizabeth Warren openly sparred with Amazon in a series of pointed tweets on Tuesday, just hours after she admitted during a nationally televised town hall that she still shops at the e-commerce giant -- even though she wants it broken up, along with a slew of other major tech companies.

Warren kicked off the spat on Monday by reiterating her argument that Amazon abuses its control over the Amazon Marketplace, which hosts third-party sellers, to improve its own retail operations and unfairly disadvantage the third-party sellers.

"Giant tech companies have too much power," Warren wrote Monday night, embedding a clip of her remarks at the town hall. "My plan to #BreakUpBigTech prevents corporations like Amazon from knocking out the rest of the competition. You can be an umpire, or you can be a player -- but you can't be both."

In response, the official Amazon News Twitter account wrote Tuesday afternoon that third-party sellers have been doing better than ever.

WARREN VOWS TO SPEND $640B TO PAY OFF STUDENT DEBT -- WHAT ABOUT CREDIT CARD DEBT, VET BILLS, OR MORTGAGES?!

"[S]ellers aren't being 'knocked out' -- they're seeing record sales every year," Amazon wrote, after denying that it uses third-party sellers' data to boost its own products. "Also, Walmart is much larger; Amazon is less than 4% of U.S. retail."

"Oh boy," Warren shot back. "Here are the facts."

The Massachusetts senator then cited "reports" that Amazon used third-party seller data to make its own products successful, and linked to Bloomberg News and Wall Street Journal articles on the topic.

Warren also alleged that Amazon sought to "deliberately misconstrue" its near-50 percent market share in online retail, by instead using brick-and-mortar numbers.

Asked at a CNN town hall on Monday to identify her last Amazon purchase, Warren said she bought a mailbox.

But even though she shops at Jeff Bezos' mega-retailer, Warren told host Anderson Cooper that breaking up Amazon would lead to “a lot more competition where little businesses have a chance to get going.”

In addition to Amazon, Warren previously said she wanted to break up Google, Facebook, and Apple.

Speaking to The Verge at the South by Southwest (SXSW) technology conference last month in Austin, Texas, Warren specifically demanded that Apple must be forced either to surrender control over the App Store or to stop selling its own apps within it.

"Apple, you’ve got to break it apart from their App Store. It’s got to be one or the other," Warren said. "Either they run the platform or they play in the store. They don’t get to do both at the same time."

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She elaborated: "If you run a platform where others come to sell, then you don’t get to sell your own items on the platform because you have two comparative advantages. One, you’ve sucked up information about every buyer and every seller before you’ve made a decision about what you’re going to to sell. And second, you have the capacity — because you run the platform — to prefer your product over anyone else’s product. It gives an enormous comparative advantage to the platform."

Warren asserted that similar antitrust principles were "applied to railroad companies more than a hundred years ago," and that "we need to now look at those tech platforms the same way."

Source: Fox News Politics

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Ecuador president blames WikiLeaks for leak of private data

Ecuadorian President Lenín Moreno is blaming WikiLeaks for recent allegations of corruption in local outlets and the publication of family photos to social media.

In a speech to the Ecuadorian Broadcasting Association on Tuesday, Moreno accused WikiLeaks of intercepting phone calls and private conversations as well as "photos of my bedroom, what I eat, and how my wife and daughters and friends dance."

Moreno provided no evidence, but the speech reflected ongoing tension between WikiLeaks founder Julian Assange and his hosts at the Ecuadorian Embassy in London.

WikiLeaks in a statement called Moreno's charges "completely bogus," saying it reported on the accusations of corruption against the president only after Ecuador's legislature investigated the issue.

"If President Moreno wants to illegally terminate a refugee publisher's asylum to cover up an offshore corruption scandal, history will not be kind," WikiLeaks said in a statement.

Assange's defense team suggested on Twitter that Moreno was trying to use the scandal to pressure the WikiLeaks founder.

Source: Fox News World

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Trump to OPEC: 'Relax,' Oil Prices Already Too High

U.S. President Donald Trump on Monday expressed concern about oil prices and repeated his previous calls on the Organization of the Petroleum Exporting Countries (OPEC) to keep prices steady.

On Monday, oil prices edged up amid political uncertainty and sanctions and involuntary curbs on several producers but could face pressure from continued anxiety over the global economy and record U.S. exports.

"Oil prices getting too high. OPEC, please relax and take it easy. World cannot take a price hike - fragile!" Trump tweeted. The Trump administration has sanctioned crude from Iran and Venezuela.

OPEC members and non-OPEC producers such as Russia are leading efforts to rebalance the market and support oil prices.

Trump, who has made the U.S. economy one of his top issues, has repeatedly tweeted about oil prices and OPEC, airing complaints about higher prices, including ahead of the organizations meeting in December.

Source: NewsMax Politics

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Grassley Urges: No More Changes to Top Immigration Officials

Sen. Chuck Grassley, R-Iowa is urging the White House not to get rid of another top immigration official, particularly Lee Cissna, director of U.S. Citizenship and Immigration Services.

Grassley made his remarks in an interview with The Washington Post on Monday. They came after Kirstjen Nielsen resigned as Homeland Security secretary on Sunday and the White House announced that Randolph Alles. director of the Secret Service would soon be leaving his post.

And last week, the White House pulled the nomination of Ronald Vitiello, who had been nominated for the post of director of Immigration and Customs Enforcement. The Post said sources claim Cissna could be the next to go.

Grassley told the newspaper he was “very, very concerned.”

“One, those are good public servants,” Grassley said. “Secondly, besides the personal connection I have with them and the qualifications they have, they are the intellectual basis for what the president wants to accomplish in immigration.

 “The president has to have some stability and particularly with the number one issue that he’s made for his campaign, throughout his two and a half years of presidency. He’s pulling the rug out from the very people that are trying to help him accomplish his goal.”

Grassley made his concerns known to Mick Mulvaney, acting White House chief of staff. Mulvaney said he would look into the issue, Grassley told the Post.

Grassley also criticized White House senior adviser Stephen Miller, who has been pushing for changes at DHS.

Source: NewsMax Politics

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Palestinian leader will refuse Israeli tax transfers

Palestinian President Mahmoud Abbas says he will not accept a monthly tax transfer from Israel if it carries out its decision to deduct amounts the Palestinians pay to the families of prisoners and people killed in fighting with Israel.

Abbas on Wednesday accused Israel of trying to put political pressure on him and violating longstanding economic agreements. He said it would be the "final nail in the coffin" of those agreements and said he would not accept the funds if even "one penny" is deducted.

The monthly tax transfers cover about two-thirds of the Palestinian budget. Without those funds, Abbas' autonomy government will fall into a crisis and not be able to pay full salaries to its tens of thousands of employees.

Source: Fox News World

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Baidu’s quarterly revenue rises 15 percent

FILE PHOTO - A Baidu sign is seen during the fourth World Internet Conference in Wuzhen
FILE PHOTO - A Baidu sign is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 4, 2017. REUTERS/Aly Song/File Photo

February 21, 2019

(Reuters) – Chinese search engine operator Baidu Inc beat Wall Street estimates for fourth quarter revenue and profit on Thursday, aided by strong growth in its online marketing business.

Revenue for the segment rose nearly 4 percent to 21.2 billion yuan ($3.15 billion) in the quarter ended Dec. 31.

The company’s U.S.-listed shares were up nearly 3 percent to $176.75 in extended trading.

Baidu forecast first quarter revenue between 23.5 billion yuan and 24.7 billion yuan, while analysts had expected 24 billion yuan, according to IBES data from Refinitiv.

The company in October had forecast fourth-quarter sales below analyst estimates, citing policy changes and the trade war.

Total revenue rose about 15 percent to 27.2 billion yuan, beating estimates of an 11.4 percent rise.

Net income attributable to the company fell to 2.08 billion yuan ($309.55 million) in the quarter, from 4.16 billion yuan a year earlier.

Excluding items, the company earned 13.18 yuan per American depositary share, beating estimates of 11.83 yuan per ADS.

(Reporting by Cate Cadell in Beijing; Additional reporting by Akanksha Rana in Bengaluru; Editing by Shinjini Ganguli)

Source: OANN

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Extraordinary European Union leaders summit in Brussels
FILE PHOTO: Italian Prime Minister Giuseppe Conte arrives at an extraordinary European Union leaders summit to discuss Brexit, in Brussels, Belgium April 10, 2019. REUTERS/Yves Herman

April 26, 2019

(Reuters) – Italian Prime Minister Giuseppe Conte said on Friday he had assured China’s Huawei Technologies that it would not face discrimination in the rollout of Italy’s 5G telecoms network.

Conte was speaking on a visit to China where he said he met Huawei’s chief executive, Ren Zhengfei. The prime minister’s comments were carried in Italy by TV broadcaster Sky Italia.

“I told him that we have adopted some precautions, some measures to protect our interests that demand very high levels of security … not only from Huawei but any company entering into the 5G arena,” he said.

Huawei, the world’s biggest producer of telecoms equipment, is under intense scrutiny after the United States told allies not to use its technology because of fears it could be a vehicle for Chinese spying. Huawei has categorically denied this.

(Writing by by Mark Bendeich; Editing by Angelo Amante)

Source: OANN

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U.S. President Trump departs for travel to Indianapolis from the White House in Washington
U.S. President Donald Trump talks to reporters as he departs for travel to Indianapolis, Indiana from the White House in Washington, U.S., April 26, 2019. REUTERS/Jonathan Ernst

April 26, 2019

WASHINGTON (Reuters) – President Donald Trump on Friday was expected to announce his intention to revoke the United States’ status as a signatory of the Arms Trade Treaty, which was signed in 2013 by then-President Barack Obama but never ratified by Congress, two U.S. officials said.

Trump was expected to announce the decision in a speech in Indianapolis, to the National Rifle Association, the officials said. The NRA, a powerful gun lobby group, has long been opposed to the treaty, which was negotiated at the United Nations.

(Reporting By Steve Holland; Editing by Bill Trott)

Source: OANN

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A remote controlled robot for the 'Isotopium: Chernobyl' game is seen at the game's location in Brovary
A remote controlled robot for the ‘Isotopium: Chernobyl’ game is seen at the game’s location in Brovary, Ukraine April 25, 2019. REUTERS/Valentyn Ogirenko

April 26, 2019

By Margaryta Chornokondratenko

KIEV (Reuters) – A Ukrainian computer game that brings to life a town abandoned after the Chernobyl nuclear disaster may not sound like everyone’s idea of fun but has attracted 60,000 people globally since its launch in October.

Players of “Isotopium: Chernobyl” drive tanks around the ghost town of Prypyat near Chernobyl, knocking out competitors as they search for an energy source called isotopium and collecting points every time they find some.

While the game takes its theme from the nuclear disaster at Chernobyl in northern Ukraine, which marked its 33rd anniversary on Friday, it was also inspired by the 2009 science fiction film “Avatar”.

Newcomers to the game think they have entered a virtual world when in fact they are controlling a real robot, equipped with a camera and computer, which makes its way around a model of the town rendered down to the tiniest detail.

“When playing our game, for the first 5-10 minutes many players don’t understand that it is not fictional,” said the game’s co-founder Sergey Beskrestnov. “They message us saying: ‘You have cool texture, you have good graphics, your designer is good, well done. You have a cool operating system.’

“People then reply: ‘It is not an operating system, it is real,’ and the player can’t believe it is real,” said Beskrestnov, speaking mid-game from Prypyat city square as he towers over surrounding five-storey buildings.

Kiev-born Beskrestnov was just 12 years old when on April 26, 1986 a botched test at the nuclear plant in the then Soviet Union sent clouds of smoldering nuclear material across large swathes of Europe, forced over 50,000 people, including Beskrestnov’s family, to evacuate and poisoned unknown numbers of workers involved in its clean-up.

Beskrestnov and his partner Alexey Fateyev used Google maps and hundreds of pictures from the Chernobyl area to recreate Prypyat landmarks, including residential buildings, a hotel, concert hall, amusement park and a stadium.

The game’s real-scale model occupies a 180 square meter (1,938 sq. ft) basement of a residential building in the Ukraine city of Brovary, just 150 km (93 miles) from the Chernobyl Exclusion Zone and 30 km east of Kiev.

Miniature radioactivity warning signs, graffiti on the walls of abandoned buildings and tables and chairs left scattered inside a small cafe all add to the creepy atmosphere of a once lively town.

“It’s a really neat concept …,” Shaun Prescott wrote in a review of the game published by PC Gamer magazine in January. “Controlling the tanks is kinda cumbersome, but they are tanks, after all.”

An attentive player will notice at least one inaccuracy – the real Chernobyl nuclear power plant is not located in town as it is in the game.

It costs $9 to immerse in the atmosphere of a post-apocalyptic town for an hour but only 20 people at a time can play simultaneously. Beskrestnov’s company, Remote Games, said 62,615 people around the world have registered to play the game, including around 15,000 in France and 10,000 in the United States.

A camera fixed on top of a moving tank broadcasts high quality signal in real time, allowing players from as far apart as Australia and Canada enjoy the game without facing any time delay in delivering video signals.

Its creators next ambition is to devise a game featuring the colonization of Mars in which 1,000 people will be able to simultaneously control robots on different missions involved in the operation.

“Many people advise us to contact Elon Musk directly because it resonates his dreams and ideas,” Beskrestnov jokes.    

(Editing by Susan Fenton)

Source: OANN

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FILE PHOTO: A Starbucks sign is show on one of the companies stores in Los Angeles, California
FILE PHOTO: A Starbucks sign is show on one of the companies stores in Los Angeles, California, U.S. October 19,2018. REUTERS/Mike Blake/File Photo

April 26, 2019

(Reuters) – Initial optimism over first-quarter results from Starbucks Corp was waning fast on Wall Street on Friday, as analysts questioned the longer-term prospects of its new sales push given subdued overall customer traffic numbers especially in China.

The company on Thursday beat brokerage estimates for quarterly same-store sales on the back of demand for its new Cloud Macchiato, Matcha tea and cold brews in the United States.

However, BTIG’s Peter Saleh was one of a number of sector analysts who said while customers forking out for higher-priced new drinks had helped drive growth in same-store sales, “anemic” traffic at cafes remained a concern.

He and others pointed to a 1 percent decline in footfall at cafes in the Chinese market, viewed as crucial to the chain’s growth for the foreseeable future.

More broadly, transaction numbers, the substitute analysts use for customer traffic, were unchanged in all three of the company’s global regions.

Shares in the company, which hit a record high after the results on Thursday, fell 1 percent in morning trade.

“We remain cautious given near-term headwinds surrounding China, including cannibalization, increasing competition (and) a slowing economy,” Wedbush analyst Nick Setyan said.

Starbucks has also poured money into beefing up its delivery network in China as it battles with local startup Luckin Coffee, whose speedy growth led it to file for an IPO in the United States earlier this week.

New menu items and partnerships with delivery services, the heart of the company’s strategy to win back customers lost to artisanal coffee shops and cheaper fast-food rivals, did help Starbucks’ sales in its home market.

However, analysts said growth in China may continue to be subdued.

Wells Fargo analyst Bonnie Herzog said she expects store expansion in China to take priority over comparable sales growth.

She downgraded her rating on Starbucks’ to “market perform” from “outperform”, arguing that the company facing tough sales comparisons later on in 2019 from last year and the current rich valuation of shares meant the stock had limited room to rise.

“Investors will be hesitant to invest new money in a stock with a topline that, while still strong, is unlikely to meaningfully accelerate,” Herzog said.

Still, the company’s solid same-store growth in the United States, improving profit margins and a lower tax rate for the rest of the year led at least 6 Wall Street brokerages to raise their price targets on the stock to as high as $81.

11 of 29 brokerages rate Starbucks “buy” or higher, 17 “hold” and 1 “sell” or lower. Their median price target is $75.

(Reporting by Uday Sampath in Bengaluru)

Source: OANN

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A man accused of fatally beating a 4-month-old boy after finding out the infant wasn’t his son had been previously deported from the United States five times, most recently in late 2016, immigration officials said.

Carlos Zuniga-Aviles, a 33-year-old Honduran national, has used multiple aliases, including the fake name of Jose Agurcia-Avila he gave police in Memphis, Tennessee, following his arrest in the boy’s death earlier this month, US Immigration and Customs Enforcement officials told WMC-TV.

ICE officials have since filed an immigration detainer against Zuniga-Aviles, who was initially deported back to Honduras in February 2010. He was also returned to the Central American country in 2011, 2012, 2015 and 2016.

CLICK HERE TO READ MORE FROM THE NEW YORK POST

“ICE will seek to take him into custody to reinstate his removal order following the resolution of the criminal charges he currently faces,” the statement reads. “Mr. Zuniga-Aviles has been removed from the US five prior times: his most recent removal by ICE to Honduras took place in December 2016.”

ILLEGAL IMMIGRANT WITH CRIMINAL HISTORY ARRESTED IN CALIFORNIA WOMAN’S MURDER

Zuniga-Aviles later returned to the U.S. following his removal, a felony under federal law, immigration officials said. It’s unclear exactly when he returned, but he was living with his girlfriend and the woman’s 4-month-old son in Memphis at the time of his arrest, WREG reports.

DAD OF MAN KILLED BY ILLEGAL IMMIGRANT BLASTS CALIFORNIA GOV. NEWSOM’S TRIP TO CENTRAL AMERICA: ‘IT’S DISGUSTING’

The infant, Alexander Lizondro-Chacon, was pronounced dead at a hospital from blunt force trauma to the head after his mother, Mercy Lizondro-Chacon, called police on April 12 to report that the boy was having trouble breathing, according to an affidavit of complaint obtained by the Commercial Appeal.

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This article originally appeared in the New York Post. For more from the Post, click here.

Source: Fox News National

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