|
TOGETHER WITH
|
|
|
Good morning. Our
biggest learning from yesterday’s newsletter replies: Apparently the
city is called just Tampa—not Tampa Bay. Still, why do all the sports
teams use Tampa Bay? It’s not the Boston Harbor Red Sox.
All of this
to say, don’t let our mistake get in your head, Rays. We picked you to
win the World Series back in July and need you to pull through in Game 6
tonight.
|
|
|
NASDAQ
|
11,358.94
|
- 1.64%
|
|
|
|
S&P
|
3,401.05
|
- 1.86%
|
|
|
|
DJIA
|
27,686.04
|
- 2.29%
|
|
|
|
GOLD
|
1,904.70
|
- 0.03%
|
|
|
|
10-YR
|
0.804%
|
- 3.80 bps
|
|
|
|
OIL
|
38.52
|
- 3.34%
|
|
|
*As of market close
|
-
Markets: With positive news deciding to take a few days off, the S&P had its worst day in a month. Investors are anxiously awaiting the results of the election, which is exactly one week from today.
-
SCOTUS: Despite protests by Democratic lawmakers, the Senate confirmed
Supreme Court nominee Amy Coney Barrett as the next justice on the
country's most powerful court. Barrett, a favorite of conservatives,
will take the spot left vacant by the late justice Ruth Bader Ginsburg.
|
|
|
SAP
|
Think you had an unproductive Monday? At least you didn't lose $35 billion (we hope). That's how much SAP's market value fell yesterday, following dismal Q3 earnings that tanked shares 23%.
-
SAP who? Europe's biggest tech
company by sales, SAP is a German software vendor that rose to
prominence in the '70s and '80s selling enterprise resource planning
software (which organizes business processes like HR, customer
relationship management, and accounting into a shared database).
Against the backdrop of rising Covid-19 infections, SAP cutting profit targets and hunkering down for a couple more quarters could be a worrying sign for other tech companies. Shares of SAP's competitors Salesforce and Oracle fell 3.4% and 4%, respectively.
SAP was already dealing with some clouds
In the last decade, SAP has moved to join its legacy tech peers IBM and Microsoft aboard the cloud computing bandwagon.
- Back in the old days
when you looked up your crush's number in the white pages, companies
stored their data on computer servers in the office basement. With the
rise of cloud computing, they can now buy that software over the
internet and outsource the hardware to cloud infrastructure providers
like Amazon, Google, and Microsoft.
The cloud is cannibalizing
the software licensing model SAP used to make its big bucks from. So
SAP is pushing customers to cloud-based software subscriptions, which
bring in less money upfront but offer a more predictable, recurring
revenue stream.
That
transition takes time, even without a pandemic. While Covid-19 has
accelerated cloud adoption, it's also created more uncertainty for
businesses—forcing some to hit pause on big IT investments.
- The latest wave of Covid infections means SAP is expecting to feel those impacts through the first half of 2021.
Big picture: Tech
stocks have buoyed the market recovery, but SAP's plunge could
undermine investor confidence in other software vendors facing similar
headwinds.
|
|
|---|
Giphy
|
Ant Group,
the Chinese fintech giant, is set to raise at least $34.4 billion in its
IPO, according to new pricing terms released yesterday. That would make
it the largest public offering in history.
- Valued at around $313
billion, Ant will go public in Hong Kong and Shanghai in the coming
weeks...and could raise even more if underwriters decide to buy up to
15% more shares.
Our question: If
Ant is now going to be the biggest IPO...who is it beating out? Saudi
Aramco (raising $29.4 billion) is currently at the top, and here's the
rest of the leaderboard.
 |
Francis Scialabba
ICBC = Industrial and Commercial Bank of China, and the company above that is the Agricultural Bank of China.
|
|
|---|
|
Facebook announced yesterday it’s rolling out a cloud gaming service, in case you wanted to do something on the platform other than check whether it's any of your friends' birthdays.
It’s not the first to have the idea
Google, Amazon, and Microsoft have all rolled out their own
cloud gaming platforms with eye-popping tech specs and exclusive titles
to attract paying customers. But Facebook is taking a fundamentally
different approach than its rivals, focusing on free games, like the Farmville of yesteryear, that you can play within the Facebook app at your leisure.
- This is supposed to be a
casual and accessible gaming experience: “No special hardware or
controllers needed; your hands are the controller,” Jason Rubin,
Facebook’s VP of Play, wrote in a blog post.
But one
rotten Apple is cramping Rubin’s style. For now, FB’s games will only be
available on Android and the web (not on iOS) because Facebook’s
offering doesn’t jibe with Apple’s guidelines around streamable
content.
Bottom line:
While rolling out a completely free-to-use service might not make
business sense on the surface, Facebook makes money by keeping users on
Facebook. Easy-to-pick-up, instantly available games streamed from the
cloud might do just that.
|
|
SPONSORED BY ATHLETIC GREENS
|
|
We’ve become something of an expert in morning routines—what with being involved in millions of them.
While we pride ourselves on being your morning routine’s headliner, this morning, we have another rec to make: Athletic Greens.
Athletic Greens gives you your daily dose of multivitamins, minerals, pro / prebiotics, superfoods, and greens—all in one place. What our newsletter does for your brain, Athletic Greens does for your bod, covering all the nutritional bases you need to start your day right.
And don’t
get scared off by the word “athletic”; this power powder helps anyone
looking to own their health by providing quality nutrients that support your gut health, immune system, stress levels, and increased energy.
So add Athletic Greens to your morning routine. If we haven’t convinced you yet, how ’bout this tasty immunity bonus: Anyone who orders here gets up to a year’s supply of Vitamin D, free.
|
|
|
Francis Scialabba
|
This article is part of our weeklong series exploring state-level issues in the upcoming election.
What's Prop 22? It's an effort to beat back Assembly Bill 5, a controversial measure the state of California passed last year.
- AB5 forced gig economy
companies (like Uber and Lyft) to classify their drivers as "employees"
instead of what they currently call them: "independent contractors."
More than semantics are at stake
The contractor → employee shift carries a lot of legal luggage, like health benefits and minimum wage requirements. From the POV of Uber, Lyft, DoorDash, etc., that luggage is way too heavy. So after refusing to comply with AB5 and threatening to shut down in CA, they started throwing their weight behind Prop 22.
And by
weight, we mean cash. Uber and Lyft poured $57 million and $49 million,
respectively, into the Yes on Prop 22 campaign, pushing total funding to
nearly $200 million. In other words, Californians are about to vote on
the most expensive ballot measure of all time.
Will it pass? Your guess is as good as ours: A new poll found that 46% of voters plan to vote in favor and 42% against.
+ Dive deeper: We rounded up some articles that argue both sides. Read them here.
|
|
|---|
|
NASA had teased a big announcement about the moon for weeks, and yesterday it finally spilled the beans: There is water on the moon.
To clarify, scientists have been hypothesizing about the presence of H2O
on the moon since 1971. But yesterday's announcement officially
confirmed that 1) there is more of it than we thought and 2) it can
exist outside the freezing craters in the moon's permanently shadowy
polar regions.
It's a big deal because...
NASA's Project Artemis is aiming to have a sustained human presence on the moon by 2028, and more accessible water can help achieve that goal.
-
It's not just for drinking: The water could be used to help with various life support functions, conduct new experiments with plant life, and even create rocket fuel.
Bottom line:
The Outer Space Treaty of 1967 prevents any nation from planting a flag
on the moon and calling dibs. But as new discoveries and technological
advances make the moon more hospitable to human life, new rules will
have to be drafted to ensure every space-faring nation, as well as the
burgeoning private space industry, gets a piece of the moon's cheese.
|
|
-
BuzzFeed is on target to break even this year for the first time since 2014, reports the WSJ.
-
Sixty-thousand people were placed under evacuation orders in California yesterday as a wildfire swept through Orange County.
-
China is imposing sanctions on U.S. companies, including Boeing and Raytheon, that are involved in arms sales to Taiwan.
-
Lordstown Motors, an electric vehicle company that recently merged with a SPAC, had a successful debut on the Nasdaq.
-
KFC's fried chicken-scented fire logs are back.
|
|
SPONSORED BY THE MOTLEY FOOL
|
|
A potential “Netflix Killer,” you say? The Motley Fool co-founders, David and Tom Gardner, have found a stock that could spell the end for Netflix. And now could be your chance to get in early (like the ones who invested in Tesla when Dave and Tom told them to—it’s up over 6,000%). This potential behemoth insight is only available to members of The Motley Fool Stock Advisor. Sign up today.
|
|
|
Calling all marketers: Looking
to snag an in-house position at an amazing brand? Marketing Brew put
together a complete guide, featuring advice from a hiring manager and an
interview with someone who got an in-house job during the pandemic. Check it out.
Tech Tip Tuesday: No need to check Facebook for friends' birthdays. This Google Chrome extension will do it for you and throw them all on the calendar of your choice.
Two cool things from China: A surreal new bookstore in Chengdu and a building that "walks" to its new home in Shanghai.
Zoom Halloween: Pair one of these 19 Zoom backgrounds with an accessory or two for a cheap and easy costume. Or check out these 60 DIY ideas for a more complete look.
|
|
|
ELAINE THOMPSON/POOL/AFP via Getty Images
|
This photo was taken last Saturday in Washington state. What are these people doing?
- Helping destroy a nest of Asian giant hornets
- Testing a new coronavirus-removal mechanism
- Rehearsing an upcoming NASA spacewalk
- Foraging for really poisonous mushrooms
|
|
|---|
|
Enjoying the Brew? Consider sharing it with a friend.
When
you do, we don’t just give you a pat on the back and say, “Well done
old sport.” You earn rewards like our classic coffee mug or T-shirt.
Hit the button below to start sharing the Brew.
Click to ShareOr copy & paste your referral link to others:
morningbrew.com/daily/r/?kid=a17a7110
|
|
A is correct. They're scientists wiping out a nest of "murder hornets"—new Halloween costume idea?
In Case You Missed It...
>> Biden/Fauci: Masks Will Be Mandatory
>> Proof: MSM Trying to Throw Election to Biden
>>
Just Revealed Text Messages Link Joe Biden to China
|
|
October 27
|
|
| FEATURED BIOGRAPHY
|
|
| Theodore Roosevelt
|
|
|
|
|
|
|
| FEATURED EVENT
|
| 1978
|
| Anwar Sadat and Menachem Begin awarded Nobel Peace Prize
|
|
|
|
|
|
|
|
|
Advertisement
|
Advertisement
|
|
|
|
| MORE EVENTS ON THIS DAY
|
|
|
2017: Catalonia's parliament voted to declare the region independent from Spain,
resulting in the central government's dismissing that legislative body
and calling for new elections, in which the majority of seats were
claimed by the pro-independence movement. [
Take our quiz about Europe.]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Advertisement
|
| Please
help us defeat the four radical Democrats below so they can't make it
to the Senate and force their dangerous agenda on the American people.
|
JON OSSOFF - GEORGIA
Jon Ossoff (D-GA) supported
the call to defund the police and then angrily told a group of liberal
supporters that he wanted Republicans "beaten so bad" they can never "show their face again in public."
➤ Defeat Jon Ossoff
|
STEVE BULLOCK - MONTANA
Steve Bullock (D-MT) pushed a
plan to offer Chinese millionaires permanent residency in the United
States if they invested in an exclusive ski resort in Montana.
➤ Defeat Steve Bullock
|
GARY PETERS - MICHIGAN
Gary Peters (D-MI) has a
100% rating from Planned Parenthood Action Fund and has fought to keep
taxpayer dollars going to Planned Parenthood and other abortion
providers.
➤ Defeat Gary Peters
|
THERESA GREENFIELD - IOWA
Theresa Greenfield (D-IA)
has a record of violating election laws. Her 2018 campaign manager was
charged with felony election fraud for submitting false signatures to
gain ballot access, and her current campaign was caught accepting
contributions over the legal limit.
➤ Defeat Theresa Greenfield
|
Each of these four liberals
will win if we do nothing. Please, stand with us to ensure that
conservatives win control of the U.S. Senate.
Your support will help us
push John James (R-MI), Steve Daines (R-MT), David Perdue (R-GA), and
Joni Ernst (R-IA) on to victory.
Please help us defeat the dangerous Democrats and elect these principled conservatives.
Time is running out, so please take action right now.
Thank you for considering
this urgent request and for doing so much to help fight for conservative
leadership in Washington.
Sincerely,
Mary Vought
Executive Director
Senate Conservatives Fund
|
Support These Conservative Senate Candidates Before It's Too Late
 |
|
|
|
Senate Conservatives Fund
300 Independence Ave SE
Washington, DC 20003
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ADVERTISEMENT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
No comments:
Post a Comment