Tag: Tech

The hot tech IPOs just keep coming

Snowflake isn’t the only buzzy upstart to cash in on investors’ enthusiasm for new software companies.



SHANGHAI, CHINA - AUGUST 01: A worker installs Unity logo at Unity Technologies booth one day before the China Digital Entertainment Expo & Conference (ChinaJoy) at Shanghai New International Expo Center on August 1, 2019 in Shanghai, China. ChinaJoy 2019 will be held on August 2-5 in Shanghai. (Photo by Visual China Group via Getty Images/Visual China Group via Getty Images)


© Visual China Group/Getty Images
SHANGHAI, CHINA – AUGUST 01: A worker installs Unity logo at Unity Technologies booth one day before the China Digital Entertainment Expo & Conference (ChinaJoy) at Shanghai New International Expo Center on August 1, 2019 in Shanghai, China. ChinaJoy 2019 will be held on August 2-5 in Shanghai. (Photo by Visual China Group via Getty Images/Visual China Group via Getty Images)

The latest: Unity Software, which makes programs for video game designers, priced its IPO at $52 per share on Thursday. The public offering will raise at least $1.3 billion. Just last week, the company said it expected to price shares between $34 and $42.

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The stock is due to start trading Friday on the New York Stock Exchange under the ticker symbol “U.”

Big picture: Snowflake

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Virginia Tech vs. Virginia rescheduled for the end of the season

The annual showdown between Virginia Tech and Virginia has been postponed to the end of the season after the Week 2 contest was put on hold due to the spread of coronavirus in Blacksburg.

The contest has been rescheduled for December 12, once again pushing the annual rivalry to the end of the season.

“The safety, as well as the physical and mental well-being of these young men and women entrusted to our care by their families remains our top priority,” said Director of Athletics Whit Babcock when announcing the original postponement from the September 19 date. “While we share the disappointment of everyone who hoped to begin the football season against our in-state rival, we remain optimistic that a full ACC football schedule can be played thanks to the flexibility the present format permits. Despite this delay, our schedule still aligns closely with the Southeastern Conference and Big 12

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Tech sparks sell-off as Apple, Amazon pace drop

equity markets declined on Thursday as tech stocks bore the brunt of the selling a day after the Federal Reserve said its policy would remain loose for the foreseeable future.” data-reactid=”17″U.S. equity markets declined on Thursday as tech stocks bore the brunt of the selling a day after the Federal Reserve said its policy would remain loose for the foreseeable future.

Investors rotated out of momentum players pushing the Nasdaq down 1.27% as Apple Inc., Amazon Inc., Microsoft Corp. and Tesla Inc., which have steered the market, fell.

The S&P 500 and the Dow Jones Industrial Average were lower by 0.84% and 0.47%, respectively.

Looking at the economy, initial claims fell to 860,000 in the week ended Sept. 12 but were slightly above the 850,000 that analysts surveyed by Refinitiv were anticipating. Continuing claims, meanwhile, dropped to 12.628 million and were below the 13 million that was expected.

Additionally, housing starts,

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Sims looks to lead Ga Tech to another upset vs No. 14 UCF

AP
Published 3:30 p.m. ET Sept. 17, 2020

ATLANTA (AP) — Jeff Sims hardly looked like a freshman in his first college game.

Sure, there were a couple of early interceptions he’d like to have back, but no one was complaining after Sims rallied Georgia Tech to an upset at Florida State in the season opener.

Now, Sims is set to face an even stiffer challenge when the Yellow Jackets host No. 14 Central Florida on Saturday.

He’s quickly become a big man on campus, reveling in a wave of accolades after becoming the first true freshman quarterback in Georgia Tech history to lead the team to victory in a season opener.

Sims completed 23 of 34 passes for 277 yards — the most completions by a Yellow Jackets quarterback since 2005 — in a 16-13 victory over the Seminoles.

Don’t expect him to revel in the adulation. The day

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What Is The Nvidia RTX 3080? Gamers Lament As The Latest Tech Sells Out Lightning Quick

The GeForce RTX 3080, Nvidia’s cutting edge graphics card aimed at hardcore PC gamers, finally went on sale on Thursday. Just as quickly as it appeared, it vanished.

Disappointed fans took to Twitter en masse with reports of missing out on the expensive new component, which sold out almost everywhere online almost immediately. The Verge reported that major tech vendors like Amazon, Newegg, Best Buy, and even Nvidia itself were out of stock before noon.

The 3080 is the mid-level GPU being released as part of Nvidia’s new “30 Series,” graphics cards capable of outpacing the likes of the PS5 and Xbox Series X, and easily able to smoothly render games in 4K. The 3080 launched on Thursday for $699. Nvidia will launch the highest-end card, the RTX 3090, on Sept. 24 for $1,499, followed by the low-end 3070 on Oct. 15 for $499.

The mid-tier option on

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US STOCKS-Wall St falls as tech sells off again, jobless claims still high

(For a live blog on the U.S. stock market, click or type LIVE/ in a news window)

* Weekly jobless claims stuck at high levels

* Fed vows to keep rates low until 2023

* Technology stocks sell off, financials fall

* Indexes: Dow down 0.5%, S&P 500 down 0.8%, Nasdaq down 1.3% (New throughout, updates prices, market activity and comments, adds official close)

By Caroline Valetkevitch

Sept 17 (Reuters) – U.S. stocks fell on Thursday as technology-related shares slid for a second day and as government data showed high levels of weekly jobless claims.

Amazon.com Inc dropped 2.3% and Apple Inc fell 1.6%, making them the biggest drags on the S&P 500 and Nasdaq. Last week, the Nasdaq’s losses put the index down 10% from its closing record, confirming a correction began on Sept. 2.

From the March market lows, “this has been an amazing recovery represented by a

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Tech savvy, flexible workers boost COVID-hit Nordic economies

STOCKHOLM (Reuters) – Helen Balfors, a project leader at Norwegian conglomerate Orkla, has been working from home for longer than most of her colleagues after returning from a skiing trip to Italy in February as the new coronavirus took hold in Europe.

The mother of three said that while the company had always encouraged a good work-life balance, some managers had required their employees to be in the office before the pandemic hit.

“But now they realise it works just as well to be at home,” she said. “I just needed an extra screen and an extra keyboard from the office, which I got in a couple of days.”

Well-developed digital infrastructure has helped the Nordic economies weather the pandemic better than most of Europe.

Britain’s economy contracted by around a fifth in the second quarter, Spain registered an 18.5% drop, while the euro zone economy as a whole shrank

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HCL Tech shares climb 2% to hit 52-week high; should you buy, sell or hold?



a screen shot of a computer: HCL Tech shares climb 2% to hit 52-week high; should you buy, sell or hold?


© Nishant Kumar
HCL Tech shares climb 2% to hit 52-week high; should you buy, sell or hold?

Shares of HCL Technologies climbed about 2 percent to hit a 52-week high of Rs 820.75  on September 18.

In a media release on September 16, HCL Technologies and Google Cloud announced the expansion of their strategic partnership to bring HCL’s Actian portfolio, starting with Actian Avalanche, to Google Cloud.

“Actian Avalanche is a high-performance hybrid cloud data warehouse designed to power an enterprise’s most demanding operational analytics workloads. Actian Avalanche enables a seamless path to migrate legacy data warehouses, including IBM Netezza and Oracle Exadata, to Google Cloud, through a hybrid-cloud offering leveraging Google Cloud’s Anthos application platform,” the company informed.

“This latest announcement from HCL and Google Cloud expands a deep and growing partnership between the two companies to help organizations digitally transform,” HCL said.

This latest announcement from HCL

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Dow closes more than 100 points lower, Apple and Microsoft drag down tech

Stocks fell in volatile trading on Thursday amid renewed pressure in shares of major tech companies. Conflicting messaging on the coronavirus vaccine front and uncertainty around further stimulus also weighed on sentiment. 

The Dow Jones Industrial Average slid 130.40 points, or 0.5%, to 27,901.98, snapping a four-day winning streak. The 30-stock average fell as much as 384.45 points, while briefly turning positive during the wild session.

The S&P 500 dropped 0.8%, or 28.48 points, to 3,357.01. The Nasdaq Composite fell 1.3%, or 140.19 points, to 10,910.28. The tech-heavy benchmark briefly dipped back into correction territory, down 10% from its all-time high. 

“The market had gone up too much, too fast and valuations got to a point where that was more noticeable than before,” said Tom Martin, senior portfolio manager at GLOBALT. “So now you’re seeing the market correct a bit.”

“The question now is whether this is the kind of

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Payment tech firm Nuvei jumps over 30% in Toronto debut

(Reuters) – Shares of Nuvei Corp jumped more than 30% on their market debut on Thursday after the Canadian payment processing firm raised $700 million in the largest ever technology company offering on the Toronto Stock Exchange.

Nuvei’s shares opened at C$45.25 ($34.38), a 32% premium to the stock’s initial public offering price of $26. It closed at C$45.05.

The company, backed by Caisse de Depot et Placement du Quebec and Canadian private equity firm Novacap Investments Inc, offers foreign exchange services, local acquiring and risk management services in countries including the United States and Canada.

Its IPO shows the strong investor appetite for technology names as the COVID-19 pandemic hastens the consumer shift to e-commerce.

Shares of Warren Buffett-backed data warehouse company Snowflake Inc more than doubled in their New York Stock Exchange debut on Wednesday.

According to eMarketer, mobile and e-commerce purchase volume, including transactions completed through mobile

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