Wipro shares fall nearly 7% as organic growth, revival plan disappoint

By Sethuraman N R

BENGALURU (Reuters) – Shares of Wipro Ltd fell 6.8% on Wednesday, a day after the software services firm posted quarterly organic revenue growth that was lower than peers and disappointed some investors with its plans to revive growth.

Chief Executive Officer Thierry Delaporte, who took the helm in July, said on Tuesday Wipro would focus more on large deals and “prioritize the markets and sectors that are relevant,” without giving more details.

The commentary let down some investors who were hoping for more concrete steps from a company that has underperformed its rivals in the recent past.

“The strategic roadmap from the CEO to revive growth was not as strong as it was expected to be,” IDBI Capital research analyst Urmil Shah said.

Wipro also saw a decline in revenue from its key markets of the Americas and Europe in the second quarter as clients cut

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What Kind Of Shareholders Hold The Majority In Jianpu Technology Inc.’s (NYSE:JT) Shares?

If you want to know who really controls Jianpu Technology Inc. (NYSE:JT), then you’ll have to look at the makeup of its share registry. Generally speaking, as a company grows, institutions will increase their ownership. Conversely, insiders often decrease their ownership over time. I quite like to see at least a little bit of insider ownership. As Charlie Munger said ‘Show me the incentive and I will show you the outcome.

Jianpu Technology is a smaller company with a market capitalization of US$106m, so it may still be flying under the radar of many institutional investors. Our analysis of the ownership of the company, below, shows that institutional investors have bought into the company. We can zoom in on the different ownership groups, to learn more about Jianpu Technology.

Check out our latest analysis for Jianpu Technology

What Does The Institutional Ownership Tell Us About Jianpu Technology?

Many institutions measure

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Why are VCs launching SPACs? Amish Jani of FirstMark shares his firm’s rationale

It’s happening slowly but surely. With every passing week, more venture firms are beginning to announce SPACs. The veritable blitz of SPACs formed by investor Chamath Palihapitiya notwithstanding, we’ve now seen a SPAC (or plans for a SPAC) revealed by Ribbit Capital, Lux Capital, the travel-focused venture firm Thayer Ventures, Tusk Ventures’s founder Bradley Tusk, the SoftBank Vision Fund, and FirstMark Capital, among others. Indeed, while many firms say they’re still in the information-gathering phase of what could become a sweeping new trend, others are diving in headfirst.

To better understand what’s happening out there, we talked on Friday with Amish Jani, the cofounder of FirstMark Capital in New York and the president of a new $360 million tech-focused blank-check company organized by Jani and his partner, Rick Heitzmann. We wanted to know why a venture firm that has historically focused on early-stage, privately held companies would be interested in

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Asian shares lower after tech-driven rally on Wall Street

Shares were mostly lower in Asia on Tuesday as investors awaited the release of Chinese trade data.

An overnight rally on Wall Street, driven mainly by technology companies such as Apple and Amazon, faded amid worries over U.S. economic stimulus and a resurgence of coronavirus caseloads in many countries.

Shares fell in Tokyo, Shanghai and Seoul but rose in Sydney. Hong Kong’s market was closed for a typhoon.

Chinese state media reported that exports jumped 10.2% in yuan, or renminbi, terms in September from a year earlier, while imports rose 4.3%, according to the General Administration of Customs. Dollar-based figures were due later in the day.


Traders were keeping an eye on the Chinese currency after the central bank scrapped a requirement for currency traders to post cash deposits, opening the way for more negative speculation on the country’s yuan, which might help to restrain its rise in value.

The

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Twilio CEO Jeff Lawson Shares Why He’s Acquiring Segment For $3.2 Billion

Twilio is making its acquisition of fellow cloud computing company Segment official.

San Francisco-based Twilio announced early on Monday that it had signed a definitive agreement to acquire Segment for $3.2 billion in an all-stock deal. The deal is expected to close in Twilio’s fourth fiscal quarter, the company said.

Forbes first broke the news of the pending acquisition on Friday.

In a joint interview with Forbes on Sunday night, Twilio CEO Jeff Lawson described the deal as the next step for a service that’s spent the last decade-plus “taking communications and breaking it down into building blocks” for developers to reach their own business’ customers.

“Communications was just the entry point for the real opportunity, which has been really providing a comprehensive platform for customer engagement,” Lawson said. “The one thing that’s always

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South Bay teen author shares love of coding through books

In “The Code Detectives,” two middle school girls who love coding use artificial intelligence to solve mysteries. For 17-year-old author Ria Dosha, writing the book series is a way to advocate for increasing diversity within the technology field.

“I’ve brought a diverse cast of characters to life, with the series centering around Ramona Diaz, a powerful young girl of color,” says Ria, a student at Cupertino’s Monta Vista High School. “The book series gives young girls strong, fictional role models in technology and AI, and introduces them to AI topics in a compelling way, clearing common misconceptions.”

Ria writes what shoe knows, and vice versa. She is the founder of CodeBuddies, which uses workshops, panels, challenges and more to promote problem-solving through technology. She is also the founder of Monta Vista’s Women in AI club, where she teaches girls the impact of artificial intelligence in daily life.

Her work has

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American Express Shares Cut to Neutral on Valuation

American Express shares were cut to neutral from buy by Susquehanna analyst James Friedman, based on a full valuation at the credit card and travel services company.

His rating was at buy for at least three years, according to MarketWatch. Friedman affirmed his share-price target at $110.

“It would be hard for [the company] to do better than its merchants, so consensus 2021 revenue up 11% looks full to us,” Friedman wrote in a commentary, according to MarketWatch. He said 7.5% growth is more like it, according to The Fly.

AmEx shares recently traded at $105.31, down 0.7%. They had fallen 15% year to date through Thursday. They also have risen 11% since Sept. 24, including Friday’s move.

Morningstar analyst Eric Compton sees American Express close to his fair-value estimate of $108.

“Investors should expect a difficult year for AmEx, as the company battles the coronavirus pandemic,” he wrote in

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Xilinx Shares Surge on Reports of $30 Billion AMD Takeover



text, letter: Xilinx Shares Surge on Reports of $30 Billion AMD Takeover


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Xilinx Shares Surge on Reports of $30 Billion AMD Takeover

Xilinx Inc. shares surged the most in nearly a year Friday following a report from the Wall Street Journal that the San Jose-based tech group could be bought by its chipmaking rival Advanced Micro Devices. .

The Journal said the pair were in advanced merger talks that could value Xilinx at more than $30 billion, a 16% premium to the group’s closing price on Wall Street last night. Xilinx’s data-center chips have become much more valuable since the coronavirus pandemic triggered a surge in work-from-home dynamics that have pressured companies around the world to improve their technology and storage capabilities.

AMD, meanwhile, has seen its share price rise nearly 90% so far this year, taking its market value past $100 billion, a move that gives the chipmaker substantial firepower — despite a small net cash position of just

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GameStop, Microsoft partnership sends games retailer’s shares up 44%

  • GameStop shares rose 44% on Thursday after it announced a multiyear partnership with Microsoft.
  • GameStop will begin selling an “Xbox All Access” bundle stores, with an Xbox console and two-year digital subscription at no upfront cost.
  • It will roll out the use of Microsoft Dynamics 365, Teams, and Surface devices in its stores and offices, it said.
  • GameStop will also upgrade its e-commerce site as part of the partnership.
  • Visit Business Insider’s homepage for more stories.

GameStop on Thursday announced a multiyear partnership with Microsoft to upgrade its stores and offer a new Xbox console package for no up-front cost — sending its shares rocketing by 44%.

As part of the partnership, the world’s biggest video games retailer said it would offer buyers an “Xbox All Access” bundle, for zero upfront cost, that includes an Xbox console and a two-year digital subscription to Xbox Game Pass Ultimate, Microsoft’s “Netflix of

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IBM to Spin Off Infrastructure Services Unit, Shares Rise

(Bloomberg) — International Business Machines Corp. is spinning off a slower-growth business that manages corporate computer systems so it can focus on the boom in demand for cloud services and step up competition with Amazon.com Inc. and Microsoft Corp.

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The new unit, which is currently part of IBM’s global technology services division, handles day-to-day infrastructure service operations, like managing client data centers and traditional information-technology support for installing, repairing and operating equipment. It serves 4,600 clients and has an order backlog of $60 billion, according to a statement from IBM Thursday.

The shift essentially divides IBM into two, splitting its legacy IT-management services from its new hybrid-cloud computing and artificial intelligence unit, which the company hopes will return it to revenue growth — and relevancy. IBM said it aims to complete the transaction as a tax-free spinoff to IBM shareholders by the end of 2021.

The move is

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