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Oracle (NYSE:ORCL) has jumped into the hot TikTok talks, the Financial Times reports – squaring off again against rival Microsoft (NASDAQ:MSFT), with preliminary discussions on a potential bid for part of TikTok’s business.
That’s no doubt a ding to Microsoft’s bid, presenting TikTok with another bargaining chip as it squares off against an executive order from President Trump to divest its U.S. assets within 90 days.
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Oracle is working with some of TikTok’s existing investors, including General Atlantic and Sequoia Capital, in order to pursue the ByteDance-owned (BDNCE) company’s operations in North America, Australia and New Zealand, according to the report.
CNBC’s Alex Sherman says Oracle’s talks with TikTok are ongoing, and have progressed in recent days. Oracle and Microsoft are reportedly far ahead of any other contenders for the TikTok business.
Facebook (NASDAQ:FB) COO Sheryl Sandberg says the platform would remove a post by President Trump if it violated company standards.
Sandberg, speaking on MSNBC: “When the president violates our hate speech standards or gives false information about voter suppression or coronavirus, it comes down.”
Sandberg was responding to a question about how Facebook will handle Trump’s content leading up to the November election.
Earlier this year, Facebook employees criticized the company for failing to moderate a Trump post saying, “When the looting stats, the shooting starts.” Facebook later took down a video Trump shared that claimed children are “almost immune” from the coronavirus.
Last week, Facebook launched a Voting Information Center for accurate voting information.
Apple (AAPL +0.4%) renames Beats 1 to Apple Music 1 and adds two new radio stations: Apple Music Hits and Apple Music Country.
Both stations will include exclusive original content and artists appearing as guests on the shows.
The radio rebrand comes as Apple fights Spotify (SPOT -1.9%) on the streaming and regulatory fronts.
Earlier this year, Spotify filed a complaint with the European Commission accusing Apple of favoring Apple Music over rivals in the App Store.
Apple is building out its Services business to ease iPhone reliance. Services accounted for $13.2B of FQ3 revenue compared to the $26.4B in iPhone sales.
After yesterday’s Q2 beats, Goldman Sachs (Buy) adds JD.com (NASDAQ:JD) to its Conviction List and raises the price target from $73 to $85.
Analyst Ronald Keung praises the “ongoing retail scale expansion from discretionary to staples” and the “visible margin expansion profile.”
Keung notes that JD shares have “more than tripled in the last 1.5 year,” but he expects that trend to continue after the report.
More action: Susquehanna (Neutral) raises JD from $55 to $70, seeing continuing “solid business momentum from 1Q, with revenue growth accelerating” and a “positive tone” for H2, but remains on the sidelines due to the current valuation.
JD shares are up 1.7% pre-market to $68.13.
Amazon (NASDAQ:AMZN) will create the tech and corporate positions across the company’s Tech Hubs in Dallas, Detroit, Denver, New York (Manhattan), Phoenix, and San Diego.
The roles will include cloud infrastructure architects, software engineers, data scientists, product managers, and user experience designers.
Amazon will invest more than $1.4B in expanding the Hubs.
The e-commerce giant has more than 876K employees worldwide.
Amazon shares are up 0.9% pre-market to $3,208.64.
The hiring spree comes after the Q2 report which featured 40% Y/Y revenue growth and 29% growth for Amazon Web Services.
