Technology Roundup – Amazon teams with federal watchdog group for counterfeit inspections, JD.com eyeing $5B Hong Kong listing for logistics business
Amazon teams with federal watchdog group for counterfeit inspections
Amazon (AMZN +0.4%) is partnering with the National Intellectual Property Rights Coordination Center, a Department of Homeland Security-led counterfeit watchdog group, to prevent the illegal importation of counterfeit products at the U.S. border.
Through the Operation Fulfilled Action initiative, the duo will “analyze data and conduct targeted inspections aimed at preventing counterfeit products from entering the U.S. supply chain,” according to Amazon.
Amazon has started pushing back hard at counterfeiting, which can turn off third-party merchants and big brands from listing on the platform.
Earlier this year, Amazon launched the Counterfeit Crimes Unit, a team of former federal prosecutors, investigators, and data analysts tasked with helping the e-commerce giant find and take legal action against counterfeiters.
In June, Amazon joined Valentino in its lawsuit against counterfeiters who sold goods on the platform. Earlier this month, Amazon filed suit against two social media influencers and nearly a dozen third-party merchants for allegedly promoting and facilitating the sale of counterfeit goods.
Post updated to add more context to the first bullet.
JD.com eyeing $5B Hong Kong listing for logistics business – Bloomberg
JD Logistics, a subsidiary of JD.com (NASDAQ:JD), is mulling a Hong Kong IPO that could raise at least $5B at a $40B valuation, according to Bloomberg sources.
The company has held early talks with banks, and the details could still change.
JD spun out JD Logistics into a separate entity three years ago. The subsidiary operates more than 800 warehouses in China.
JD has had a busy year with public offerings. The company already filed the prospectus to list its fintech arm on the STAR Market and is pursuing a Hong Kong listing for its health care subsidiary. And the main company earned $4.5B in a second listing in Hong Kong.
JD ADRs are up 1.6% pre-market to $89.
Israel, Saudi Arabia may come together for Google fiber-optic network
A reported meeting between Bibi Netanyahu and Crown Prince Mohammed bin Salman this week may lay the groundwork for business development in the region amid a U.S. push to normalize ties between the longtime foes.
Google (GOOG, GOOGL) is looking to open a new corridor for global internet traffic that would link India to Europe via Israel and Saudi Arabia. With a capacity of hundreds of terabits per second, the fiber-optic network would help the tech giant roll out data centers globally and catch up to rivals Microsoft and Amazon in on-demand cloud computing.
Google isn’t the only one planning networks in the region. U.S.-based Cinturion Corp. is targeting a competing set of cables, called the Trans Europe Asia System, that would pass from Europe through Israel before heading on to India. Facebook is meanwhile focused on its 2Africa project, a 23,000-mile network designed to provide more capacity than all of Africa’s existing submarine cables combined. That system is expected to go across Egypt to Europe, but could also link with Saudi Arabia and other Mideast countries.
Israel has recently formalized government ties with the U.A.E., Bahrain and Sudan, and Israeli and American officials have said other such deals are under way.
QAD EPS beats by $0.14, beats on revenue
QAD (NASDAQ:QADA): Q3 GAAP EPS of $0.16 beats by $0.14.
Revenue of $76.66M (-1.5% Y/Y) beats by $1.31M; Subscription revenue grows 24%Y/Y; Subscription Gross Margin increases to 68%.
4Q21 Outlook: Subscription revenue of $35M and Maintenance revenue of $26M.
Pure Storage EPS beats by $0.01, beats on revenue
Pure Storage (NYSE:PSTG): Q3 Non-GAAP EPS of $0.01 beats by $0.01; GAAP EPS of -$0.28 beats by $0.01.
Revenue of $410.62M (-4.2% Y/Y) beats by $4.18M.
Gross margin at 67.3% vs. consensus of 69.1%