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PayPal Holdings (NASDAQ:PYPL) slides 2.7% in premarket trading after warning that it expects Q1 2020 revenue will come in at the lower end of its $4.78B-$4.84B guidance range because cross-border e-commerce activity has been hurt by the COVID-19 outbreak.
Average analyst estimate is $4.83B for Q1 revenue.
Reaffirms Q1 2020 GAAP and non-GAAP EPS guidance.
Estimates ~ 1 percentage point reduction, on both a spot and foreign currency-neutral basis, to PayPal’s Y/Y revenue growth for Q1.
The weakness in international cross-border e-commerce activity is partially offset by strong performance in its diversified business.
Facebook (NASDAQ:FB) has canceled its F8 developer conference – the latest casualty among business gatherings to the threat of COVID-19 and the coronavirus.
The company is suspending the in-person component of F8 2020, saying “This was a tough call to make – F8 is an incredibly important event for Facebook and it’s one of our favorite ways to celebrate all of you from around the world – but we need to prioritize the health and safety of our developer partners, employees and everyone who helps put F8 on.”
It’s still committed to the city of San Jose, it says, and is planning other ways to gather the community, “through a combo of locally hosted events, videos and live streamed content.”
Shares are down 1.1% on the day.
Apple (NASDAQ:AAPL) will release an iPad keyboard featuring a built-in trackpad this year, according to The Information sources.
Sources say the tech giant is currently preparing for mass production of the keyboard.
The new accessory will likely launch at the same time as the new iPad Pro model, which is expected later this year.
In other AAPL news, the company has set a June 30 deadline for app developers to comply with China’s laws surrounding mobile games.
The regulations require developers wanting to charge for content or in-app purchases to obtain a license from the country’s censors.
DocuSign (NASDAQ:DOCU) will acquire the AI tech provider for $188M in cash. The deal is expected to close in H1.
The companies have a preexisting relationship. DocuSign is a reseller of Seal’s analytics and machine learning application.
DocuSign invested $15M in Seal early last year.
DOCU will continue to sell Seal’s app after the deal closes. The company will also integrate Seal’s tech into its existing products.
Microsoft (NASDAQ:MSFT) withdraws from next month’s Game Developers Conference, citing coronavirus concerns.
The conference is scheduled for March 16-20 in San Francisco.
Microsoft will stream its planned session here.
Facebook, EA, and Sony will also skip the conference.
Yesterday, Microsoft warned that the More Personal Computing segment would likely miss its Q3 guidance due to the virus.
