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AMZN Stock Slightly Up, Amazon Unveils Series of New Hardware Devices

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Amazon’s latest devices include the all-new Echo, Echo Dot, Echo Dot with Clock, the eero 6 routers, home flying security cameras, the Ring security system for cars, an update to its Fire TV Stick, as well as some other new products.

The shares of e-commerce giant Amazon.com Inc (NASDAQ: AMZN) added new gains on Thursday and in the pre-market today following the unveiling of a new set of hardware devices by the company. Amazon (AMZN) rolled out these devices in a series of successive announcements on its blog on Thursday as it kicks off its annual hardware event.

The tech scene has been filled with numerous innovations in recent times as industry leaders seek ways to bolster their offerings in order to get a sizeable market share. While some of Amazon devices are an improvement to the company’s earlier creations, some are targeted at beating the existing competition.

As Amazon unveiled the new products, the company’s shares rose 0.66% at the end of trading to close at $3,019.79. The momentum was also sustained in the pre-market with the shares adding another 0.93%.

Overview of Unveiled Amazon Devices

Amazon’s latest devices include the all-new Echo, Echo Dot, Echo Dot with Clock, the eero 6 routers, home flying security cameras, the Ring security system for cars, the all-new Echo Show, an update to its Fire TV Stick, as well as software services including the Luna video game streaming service. The company’s Alexa voice system has also been upgraded in a bid to better understand user’s requests.

The Fire TV Stick is a streaming video player sold by Amazon. In the latest update made to the Fire TV Stick, the signature Fire TV Stick will include an enhanced processor that makes 50% more powerful than the previous generation. Both the update to the old version classic version and a lite version were launched and while the former costs $39.99, the latter will sell for $29.99

The AMZN Luna video game streaming service is apparently launched to compete with Google’s (GOOGL) Stadia and Microsoft’s (MSFT) new game-streaming service. Luna has about 100 games and according to CNBC, the Luna service will be integrated within Amazon’s Twitch streaming platform. Users will be able to click a button in the Twitch stream to start playing that game on Luna. Luna comes with its own special controller and while it is yet to launch, the service will be available by invitation only to users in the United States.

The Amazon Echo Show devices have been revamped, and its dubbed the Echo Show 10. “The Echo Show 10 has been completely reimagined to fit the way that customers live. We’ve introduced intelligent movement and made it even more natural to engage with Alexa,” Dave Limp Amazon SVP of devices and services said. The Echo Show 10 comes with a 10inch screen with 13 megapixels for enhanced camera power.

Sharing the Echo name are the revamped Echo speaker devices including the all-new Echo, Echo Dot, Echo Dot with Clock. While all of these products have the same feature but with slight alterations. AMZN’s other devices include the Eero 6 and the Eero Pro 6, the home drone security system, as well as the Ring car, connect (billed to work with Tesla cars).

Amazon’s aim in unveiling these products is clear, to re-emphasize the company’s position in today’s technology scene while also affirming its environmental sustainability approach in its product and operations.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.



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TWTR Stock Jumps 5% after Twitter Reports Mega Gains in Q2 2021 Earnings

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Twitter reported adjusted earnings per share of 20 cents against 7 cents expected by analysts according to a poll by Refinitiv.

Twitter Inc (NYSE: TWTR) stock experienced a bump of nearly 9% during Thursday’s extended trading hours after the company reported its second-quarter earnings. Twitter stock was trading with a gain of over 5% at around $73.50 as of Jul 22, 2021, 7:59 p.m. EDT according to market analytics provided by MarketWatch. The spike has been attributed to the Twitter Q2 2021 earnings results that beat analysts’ expectations.

Twitter Q2 Results and Future Market Prospects

Notably, Twitter reported adjusted earnings per share of 20 cents against 7 cents expected by analysts according to a poll by Refinitiv. Additionally, the giant social media platform recorded a revenue of $1.19 billion versus $1.07 billion expected by analysts according to a survey conducted by Refinitiv.

During the last three months of the first half of 2021, Twitter said that monetizable daily active users (mDAUs) were 206 million versus 206.2 million expected by analysts according to a survey by StreetAccount.

Worth noting, the firm recorded a profit of $65.6 million against a $1.38 billion loss during the second quarter of 2020. Twitter has morphed significantly through the pandemic and now offers more relatable services to its customers.

During Q2, Twitter introduced its first subscription service that enables users to undo a tweet. Additionally, the firm introduced its audio chat feature and also a tip jar feature that has seen more users enjoy during the pandemic.

If the creator is creating great content, and you see it in Super Follows, or it’s just a tweet and somebody puts money in their Tip Jar, or it’s long-form content that we include in a different price point for a subscription, without ads, that complements it with other features that come from us, then we would make sure that part of the value that can be attributed to the creator where those dollars go to them and that we’re facilitating a transaction,” Ned Segal, Twitter’s finance chief, said on a conference call with analysts.

Forward, the company is optimistic the numbers will keep on rising beyond analysts’ expectations. According to the guidance provided by the company during the earnings call, Twitter estimated a revenue of $1.22 billion to $1.30 billion during the third quarter. Notably, according to a survey by Refinitiv, Wall Street analysts had a forecast of $1.17 billion in revenue for the social media platform during the third quarter.

Worth noting, the company said that it expects its revenues to grow much faster than its expenses during the fiscal year 2021.

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A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”



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Snap Stock Up 16% as Q2 2021 Earnings Beat Analyst Expectations

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Snap stock has risen approximately 184.94%, and 25.76% in the past year and seven months.

Snap Inc (NYSE: SNAP) stock traded 16.31% higher in today’s premarket around $73.24. The notable spike has been directly attributed to the second-quarter earnings results that beat analysts’ expectations. Notably, Snap reported revenue of $982 million in Q2 versus $846 million expected by analysts according to a survey by Refinitiv.

Additionally, the company recorded adjusted earnings per share of 10 cents versus 1 cent loss forecasted by analysts. During the second quarter, Snap’s average revenue per user (ARPU) was $3.35 against $2.92 expected by analysts according to a survey conducted by Refinitiv. Global daily active users (DAUs) hit 293 million users versus 290.3 million according to a survey conducted by StreetAccount.

Snap stock has risen approximately 184.94%, and 25.76% in the past year and seven months. However, they have dropped approximately 6.95% in the past month according to market analytics provided by MarketWatch.

Snap Stock and Company’s Q2 2021 Earnings

On the positive side, Snap noted that the iOS 14.5 update did not make severe changes to its operations as earlier forecasted. Partly due to the late rollout of iOS 14.5 by Apple’s developers.

Jeremi Gorman, Snap’s chief business officer added that the slow adoption of Apple’s software update also significantly contributed. “This has given us more time with advertisers to navigate the transition but also means the effects of these changes will come later than we initially expected,” Gorman said.

One of the key highlights from the Snap second-quarter report was the 53% decline in a net loss to $152 million from $326 million a year ago.

Forward, the company is weighing on different market outlooks, particularly Covid-19 and the rollout of the vaccine. On a year-over-year basis, Snap expects its revenue to grow by 58% to 60% during the third quarter. Additionally, the company said it anticipates hitting approximately 301 million daily active users (DAUs) in the third quarter.

This range reflects our best current estimate of the potential impact of anticipated disruptions associated with the iOS platform changes,” Snap Chief Financial Officer Derek Andersen said in his prepared remarks.

The foreseeable future remains uncertain for Snap management largely due to a resurgence of COVID-19 cases. As a result, the company said it will be operating in an uncertain environment until the end of the year.

The company has a reported market valuation of approximately $99.58 billion as of today with 1.32 billion outstanding shares. Having been rated by 38 Wall Street analysts, MarketWatch found out that Snap stock received an average of Over rating.

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A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”



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Binance US Pursuing Plans to Go Public, Opts for IPO amidst Regulatory Crackdown

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Binance US will be competing for a public spot proceeding despite facing allegations from global regulators.

Binance US which is a cryptocurrency exchange operating in the American market will opt for an IPO way to go public. The firm is currently in the process of navigating heavy regulatory concerns and crackdowns. Binance CEO Changpeng Zhao has commented on the possibility of the firm listing on an IPO and communicated possible plans of the company concerning regulatory requirements and protocols.

The CEO further highlighted how the company is still embroiled in regulatory trouble with central regulators and had taken accountability for the same. However, Zhao has been confident in making Binance US seek a public spot through the IPO and expressed his decision to accelerate compliance efforts to work in sync with the guidelines to safeguard the company’s interest and stake.

Binance US Opts for a Strategic IPO Listing

Binance US will be competing for a public spot proceeding as a separate company that seeks branding from the global exchange Binance. The company will be taking a fresh initiative to go public in the upcoming months.

It is to be noted that  Binance which is the leading cryptocurrency exchange was facing allegations from global regulators that involve claims such as the company being implicated in illegal trading in the USA. The concerning matter was later investigated by the States Department of Justice and the Internal Revenue Service. Later on, the company was approached by the US Commodity Futures Trading Commission on similar grounds.

Binance CEO Changpeng Zhang has asserted that the company is surely battling regulatory issues and interventions at the moment but is confident enough to accelerate the work operations by shifting the company into the financial domain from a previous tech setup.

The CEO has further admitted that they might encounter troubles with the regulators but this will never disregard the company’s vision to go public one day. Binance US is now pursuing ways to opt for a traditional initial public offering route to seek credible transition.

In a virtual blockchain summit called REDeFINE Tomorrow 2021, Zhao was seen communicating his plans regarding Binance’s prospects and strategies as well the company’s new goal that involves an IPO listing. Zhao later restated that the company will be expediting its compliance efforts that will also include hiring former regulators to speed things up.

In the summit held on Friday, Zhao was seen admitting the fact that the regulatory issue that the firm is currently facing will be mitigated very soon and the compliance efforts will be accelerated to localize communication in a structured manner.

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Juhi Mirza is an archaeology major who is obsessive about blockchain/Crypto technology and deems it to be the foundational philosophy of the future. Her dogged ability to research and crystallise technical facts/multiple perspectives into rivetting stories makes her an accessible finance writer. She tends to her archaeological pursuits and loves unearthing the past over the weekends.



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