DAILY GOOG REPORT

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  • Dow Jones Today, Stocks Rise As Microsoft Courts TikTok; Varian Soars On Siemens Deal; Incyte, Co-Diagnostics FDA News 08/03/2020 01:55 PMIncyte paced the Nasdaq, Microsoft led the Dow Jones, and stock futures rose as global markets rallied on strong manufacturing data.
  • ADT Shares Soar on Google Partnership and Investment 08/03/2020 01:31 PMADT and Google partnered on a new line of smart-home-security solutions. And Google will invest $450 million for a 6.6% stake in ADT.
  • Microsoft and ByteDance Investors Circle As TikTok Ban Looms 08/03/2020 01:07 PMAfter being banned in India last month, China's short video messaging app TikTok now faces a ban in the U.S. due to national security concerns. Microsoft is in advanced talks to buy the Gen Z favorite's U.S. operations, which has up to 80 million active monthly users, after Trump indicated Friday he will sign an executive order. Launched in 2016 and introduced in the U.S. market in 2018, TikTok insists that all data collected in the U.S. stays in the country.
  • Google Invests $450 Million in Home Security Firm ADT 08/03/2020 01:05 PM(Bloomberg) -- Alphabet Inc.’s Google has agreed to pay $450 million for a stake in security firm ADT Inc. as part of a partnership to create smart-home security products.Google will get a 6.6% stake in newly created Class-B shares of the Boca Raton, Florida-based firm, and ADT will integrate Google’s hardware and services into its products, the companies said in a statement on Monday. ADT shares jumped 66% in pre-market trading after closing at $8.61 in New York on Friday.Both companies will commit an additional $150 million, subject to the achievement of certain milestones, for marketing, product development, technology and employee training, they said.The deal will widen the potential reach for Google’s own smart-home devices, led by its Nest offering. ADT focuses on home security products such as electronic security, fire protection, and alarm monitoring services. ADT Chief Executive Officer Jim DeVries said “the combined solution will unlock access to new customers seeking premium technology, end-to-end smart-home services and trusted security.” The U.S. smart-home market is experiencing “explosive gains,” DeVries said and is projected to grow 20% annually. “Together the smart home and secure market represents a tremendous opportunity for ADT and Google,” DeVries said on a call with analysts to discuss the deal.Google bought Nest in 2014 for $3.2 billion to enter the smart-home market, and the unit has become one of the largest makers of internet-connected thermostats, smoke alarms and locks.However Google pared back the number of companies its Nest devices connect to earlier this year due to privacy concerns. Several residential builders have also stopped buying and installing Nest devices after the internet giant overhauled how Nest technology works with other gadgets.(Updates with comments from CEO in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
  • Alphabet May Borrow at Record Low Rates for Sustainable Projects 08/03/2020 12:51 PM(Bloomberg) -- Alphabet Inc. is proposing to tap the bond market at rock bottom yields, in a rare debt sale that will help fund sustainability projects.The parent company of Google may sell debt in six parts, according to a person with knowledge of the matter. The longest security, a 40-year bond, may yield between 1.25 and 1.3 percentage points above Treasuries, the person said, asking not to be identified as the details are private.Alphabet has only borrowed in the U.S. investment-grade market a handful of times, with the last issue four years ago. It was cheap to sell bonds then, and could be even more of a steal now -- the company may pay just 40 basis points over Treasuries to borrow for five years, the person familiar said. Amazon.com Inc. initially marketed a similar range for a debt offering in June, which ended up pricing at a spread of 25 basis points.Google has been expanding its use of sustainable energy, touting its carbon-neutral status for over a decade. It’s one of the world’s largest corporate buyers of renewable power.More broadly, sustainable debt issuance has skyrocketed in the pandemic, most notably via social bond sales. Supply will almost double this year compared to last as more borrowers raise debt to respond to the humanitarian crisis presented by Covid-19, according to HSBC Holdings Plc.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
  • UPDATE: ADT shares soar 80% premarket on news of venture with Google to create smart home security product 08/03/2020 12:11 PMShares of residential and commercial security provider ADT Inc. soared 80% in the premarket trade Monday, after the company announced a new venture with Alphabet Inc.'s Google to create the next generation of smart home security offerings. The partnership will build on Google's Nest's hardware and services, which will be combined with ADT's installation, service and professional monitoring network. Google will invest $450 million to acquire a 6.6% stake in newly created Class B common stock of ADT, in a deal expected to close in the third quarter. Both companies are committing $150 million for co-marketing, product development, technology and employee training. ADT has more than 20,000 people who will work with Google's suite of home hardware, manufacturing technology and vertical technology stack, the companies said in a joint statement. ADT is expecting to start offering Google devices this year and to expand the integration in 2021. A conference call to discuss the partnership will be held at 8.30 a.m. ET. ADT shares have gained 8.6% in the year through Friday, while the S&P 500 has gained 1.3%.
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