GOOG Stock News
- Google Teams Up With Mayo Clinic To Explore AI Use In Delivering Radiotherapy 10/29/2020 02:06 AMAlphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG) subsidiary Google said Wednesday that it is collaborating with Mayo Clinic to develop an artificial intelligence tool that could help deliver radiation therapy to cancer patients.What Happened: The tool will help reduce treatment planning time, which, in radiation therapy, can involve up to seven hours for a single patient, Google said in a statement. Mayo Clinic and Google Health will work to develop an algorithm that will help clinicians in contouring healthy tissues and organs from tumors, according to the Mountain View-based tech giant.In the first phase of research with Mayo Clinic, the Sundar Pichai-led company hopes to develop and validate a model on how AI could be "deployed in practice."Why It Matters: There is a shortage of radiotherapy experts, which leads to long waiting times for cancer patients, noted Google. The tech giant hopes the planned research will lead to faster treatment planning and increase its accessibility for patients."The technology will not be used in a clinical setting and algorithms will be developed using only de-identified data," according to Google.In January, the company's health unit said that its AI platform was able to detect breast cancer readings that were at first missed by doctors, according to the Wall Street Journal. The search engine giant had claimed that its technology could match or outperform radiologists.Price Action: Alphabet Class A and Class C shares both closed almost 5.5% lower at $1,510.80 and $1,516.62, respectively, on Wednesday. Class A shares gained 0.74% in the after-hours session, while Class C shares rose 1.01%.See more from Benzinga * Click here for options trades from Benzinga * Apple Works On Its Own Search Engine As Regulators Turn Up Heat On Google Deal: FT * FAANG Stocks Present Buy Opportunities, Says Cramer(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- PRESS DIGEST- Financial Times - Oct. 29 10/29/2020 01:36 AM
- Pinterest Reports Strong Revenue as Ad Demand Rebounds 10/29/2020 12:08 AM(Bloomberg) -- Pinterest Inc. reported quarterly sales that topped analysts’ estimates after advertiser demand bounced back from budget cuts seen during the initial outbreak of Covid-19. The shares surged.Third-quarter revenue jumped 58% to $443 million, the digital search and scrapbooking company said Wednesday in a statement. Analysts, on average, projected $387.8 million, according to data compiled by Bloomberg. The company also predicted that sales would increase about 60% in the holiday quarter, which would be higher than analysts’ projections of 38% growth.Pinterest said it had 442 million monthly users at the end of the period, a gain of 37% from a year earlier and higher than the average estimate of about 431 million. The shares jumped more than 30% in extended trading.Read more: Pinterest Founders Double Their Wealth With Latest Stock SurgeThe San Francisco-based company said in July that revenue growth increased about 50% in the month, though it expected the numbers to decline throughout the quarter. But advertiser demand stayed high during the three-month period ending in September as advertisers adapted to the new reality brought on by the coronavirus. Pinterest specifically cited an uptick in small business advertisers, retailers and large advertisers of consumer packaged goods.Chief Executive Officer Ben Silbermann attributed some of Pinterest’s user growth to the changing environment as more people move communication and activities online. “More than ever before, people are coming to Pinterest to get inspiration for their lives,” Silbermann said in the statement.Pinterest also said it received a boost of almost 4 million monthly active users when young people upgraded their iPhones to Apple Inc.’s new operating system, iOS 14, and used Pinterest to come up with ideas for new background filters.Pinterest’s third-quarter revenue growth is another sign the digital ad industry has returned to pre-Covid levels -- an idea that was reinforced last week when Snap Inc. also reported better-than-expected sales. Facebook Inc., Alphabet Inc. and Twitter Inc. report earnings on Thursday.(Updates share gain in third 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.
- [video]Pinterest, Snap and Microsoft's Reports Point to a Online Advertising Rebound 10/29/2020 12:05 AME-commerce advertising remains strong, and it looks like brand ad spend rebounded sharply as Q3 progressed.
- Why the Nasdaq, with its ‘work-from-home’ tech giants, just posted its worst day in 7 weeks 10/28/2020 11:48 PMTechnology stocks often are a hot commodity when pandemic fears rear up. Here's why that wasn't the case on Wednesday as all three major U.S. stock indexes swooned.
- S&P 500 Dives 120 Points: COVID-19 Cases Surge, Sending Tech Stocks Back Into Correction 10/28/2020 10:40 PMA spiking coronavirus pandemic, economic uncertainty, and a contentious U.S. election cycle are all coming to a head.