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Apple (AAPL +4.6%) releases a Maps-based mobility data trends tool that shows the volume of people driving, walking, or taking public transportation in a given area.
The tool is meant to help governments and health authorities gain insight into local social distancing practices.
Apple doesn’t associate the mobility data with a user’s Apple ID and doesn’t keep a log of the user’s movements.
Apple and Google recently announced collaborating on a contact tracing system and have now provided more details.
The companies are adding contact tracing at the OS level, which means users will get important health alerts about potential virus exposure without downloading a separate app.
Virus tracing will be routed through public agencies, preventing users from incorrectly logging positive results and triggering an alert.
China’s State Administration for Market Regulation has finalized the paperwork for Nvidia’s (NVDA +5.3%) acquisition of Mellanox (MLNX +1.3%), according to Dealreporter sources.
The approval won’t include a “hold-separate” requirement and is now awaiting government ministers’ signatures.
Last month, Dealreporter said the approval was nearing completion but would require the companies to maintain separate R&D units for several years.
Netflix (NASDAQ:NFLX) is seeing another healthy gain today, up 4.7% – this time alongside a small target bump at Imperial Capital, which is gaining optimism ahead of Q1 results.
Yesterday Netflix reached its highest point in a year and a half amid a higher target from Canaccord; today it’s taken out its all-time high.
Netflix has “largely debunked” worries about forced moves from the also-successful Disney Plus (DIS +2.9%), including price cuts, or any significant taking of market share, Imperial says.
“This is one of a very few names in the S&P 500 which, for the most part, is impervious to the derivative effects of COVID-19,” it says, pointing to strong performance amid “the most intense market volatility” since the Global Financial Crisis of 12 years ago.
The firm’s bumped its price target to $447 from $438, now implying 7.6% further upside from today’s lofty heights.
Cisco (CSCO +2.4%) has launched a $2.5B Business Resiliency Program designed to help customers and partners invest in recovery while deferring costs.
“Cash flow is a top concern for Cisco customers and partners in the current environment,” the company says.
The vendor financing program offered through Cisco Capital includes an upfront 90-day payment holiday, and allows customers to defer 95% of the cost of a new product or solution until 2021.
Starting in January 2021, customers then make monthly payments based on the total amount and remaining term of the financing.
A French court orders Amazon (NASDAQ:AMZN) to temporarily focus on essential items or risk fines.
Amazon has 24 hours to comply, or the tech giant will be charged $1.1M per day of noncompliance.
The judges say Amazon “evidently failed to comply with obligations to protect the health of employees” and suggested the company evaluate the coronavirus risks at its warehouses.
Amazon can resume its normal shipment activity if it conducts the evaluation and implements safety measures to protect workers.
The ruling follows a labor union request that the court either ban Amazon from operating its six French sites or reduce the activity to essential goods.
