It’s still earnings season, and many companies are making double-digit moves. China’s stock market crash is still continuing, albeit at a smaller magnitude compared to yesterday. By 10:00 a.m. E.T., the S&P 500 Index was up 0.28%, while the NASDAQ and the Dow are also slightly higher.
China’s crash has continued to affect shares of Chinese companies listed in the U.S., such as Alibaba Group Holding Limited (NYSE/BABA) and JD.com Inc. (NASDAQ/JD). Both e-commerce giants continued their losing streak on Tuesday morning.
Tomorrow, the Federal Reserve is going to have a meeting on monetary policy. It had previously announced that it would raise interest rates later this year.
Top Technology Stories
Google Separates YouTube and Google Plus
Google+ hasn’t been doing that well. Google is removing the forced linkage between YouTube and Google+. Previously, you had to have a Google+ account in order to comment on or post videos on YouTube. Now, having a Google+ account is no longer a requirement.
Moreover, comments made on YouTube will only appear on YouTube and not Google+, and vice versa.
Android Phones Can Be Hacked with a Single Text
A hacker can send a malware-laced multimedia message to an Android phone, and get access to data, photos, and everything on the phone. The worst part is, the Android user doesn’t need to open the message for the hack to succeed.
Approximately 95% of all Android phones in use today are vulnerable under this flaw. That’s around 950 million devices.
China Lifts the Ban on Gaming Consoles
China decided to eliminate all restrictions on gaming consoles. This means that companies who make gaming consoles will have a chance to enter a huge market. Gaming consoles like Microsoft Corporation’s (NASDAQ/MSFT) Xbox, Sony Corporation’s (NYSE/SNE) PlayStation, and Nintendo Co. Ltd.’s Wii U already have a huge fanbase in the country.
Top Stocks to Watch
Baidu, Inc. (NASDAQ/BIDU)
The Chinese search engine giant announced its earnings yesterday after the closing bell. This morning, shares of Baidu, Inc. (NASDAQ/BIDU) were trading 14.7% lower at $168.60 apiece.
IPG Photonics Corporation (NASDAQ/IPGP)
Shares of the electronics manufacturer surged 12.07% to $89.50 after the company reported better-than-expected earnings. Earnings per share rose 25% thanks to strength in materials processing and laser sales.
Ford Motor Co. (NYSE/F)
Ford Motor Co. (NYSE/F) just reported a 46% increase in net income, and its North America segment just had the largest quarterly profit in history. Shares of Ford climbed as much as three percent in early trading, before settling down to just a one percent gain at 10:00 a.m. E.T.
Twitter, Inc. (NYSE/TWTR)
Twitter, Inc. (NTSE/TWTR) is due to report its earnings after market close today. The company has been struggling with slow user growth and sluggish advertising revenues. In June, CEO Dick Costolo announced that he would step down.