Tag Archives: Hits

Spotify hits subscriber targets but revenues slow on EU data rules
July 26, 2018 12:00 pm|Comments (0)

LONDON (Reuters) – Music streaming leader Spotify (SPOT.N) on Thursday reported results mostly in line with forecasts, as the number of paid subscribers rose 10 percent over the last three months, but revenue growth was slowed by new European data privacy rules.

FILE PHOTO: The Spotify logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2018. REUTERS/Brendan McDermid/File Photo

Monthly subscribers, which account for around 90 percent of revenue, rose to 83 million at the end of June, up from 75 million in the first three months of 2018. Analysts, on average, was looking for 82 million subs, a Thomson Reuters poll showed.

Second-quarter revenue rose 26 percent to 1.27 billion euros, roughly in line with market expectations. Fifteen analysts polled by Thomson Reuters had forecast, on average, 1.26 billion euros.

“We did see some GDPR disruption across our European markets during Q2 but seem to be largely past that now,” the company said in a statement, referring to the European Union’s General Data Protection Regulation that came into effect in May.

Reporting by Eric Auchard in London; Editing by Adrian Croft

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Apple Music appoints new head, hits 48 million subscribers
April 11, 2018 6:01 pm|Comments (0)

(Reuters) – Apple Inc on Wednesday appointed a new executive to oversee its Apple Music streaming business and hit 48 million subscribers, the company said.

Apple said it had appointed Oliver Schusser as vice president of Apple Music and international content. Schusser, who joined Apple 14 years ago, will report directly to Apple senior vice president Eddy Cue and will also oversee Apple’s services outside the United States, including the App Store and iTunes.

Apple’s top streaming music rival Spotify Technology SA has 71 million so-called premium subscribers, a figure that includes users who have given the company a credit card number for a free trial. Spotify became a public company earlier this month after holding a so-called direct listing on the New York Stock Exchange.

On a comparable basis, the Apple Music service has 48 million subscribers, 40 million of whom are paying subscribers and 8 million of whom are on a free trial, Apple said. Both firms charge $ 9.99 a month for streaming music but provide discounts for student and family plans.

Variety magazine earlier reported the new subscriber figures and Schusser’s promotion. He previously built up Apple’s services businesses outside the U.S. in 155 markets, including China, Japan and Latin America, Apple said.

Apple’s services business, which includes Apple Music, the App Store and iCloud, is becoming increasingly important to the Apple’s financial outlook because the smart phone market has matured and iPhone sales growth has slowed. In its most recent quarter, Apple’s services business grew 18 percent to $ 8.4 billion, missing analyst expectations of $ 8.6 billion.

(This version of the story corrects paragraph 1 to Wednesday instead of Thursday)

Reporting by Stephen Nellis; Editing by Bernadette Baum

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Stocks To Watch: Earnings Season Hits Higher Gear
January 20, 2018 6:00 pm|Comments (0)

Welcome to Seeking Alpha’s Stocks to Watch – a preview of key events scheduled for the next week. Follow this account and turn the e-mail alert on to receive this article in your inbox every Saturday morning.

By all appearances it’s going to take a lot to knock the stock market off its 2018 upward drive as potential landmines such as North Korea, political chaos and looming government shutdowns continue to be sidestepped with animal spirits stirred up. On that note, Bespoke Investment Group added up the cumulative declines on the S&P 500 on a rolling six-month basis to find that it’s been over 50 years since so little downward pressure has been applied to stocks. Looking ahead to next week, some heavy hitters are expected to post tax benefit-adjusted guidance in what could be another driver for investor enthusiasm.


Expected IPO filings Pagseguro Digital (Pending:PAGS) and Entera Bio (OTC:ENTZ) on Jan. 23; Solid Biosciences (Pending:SLDB), Gates Industrial (Pending:GTES) and Menlo Therapeutics on Jan. 24; Adial Pharmaceuticals (Pending:ADIL), PlayAGS (Pending:AGS) and Armo Biosciences (Pending:ARMO) on Jan. 25.

FDA watch: GlaxoSmithKline (NYSE:GSK), Innovia (NASDAQ:INVA) and Theravance Biopharma (NASDAQ:TBPH) are expected to find out if the supplemental new drug application for triple therapy inhaler Trelegy Ellipta has been accepted for review by the regulator. The FDA’s Tobacco Products Scientific Advisory Committee is also meeting on Jan. 24-25 to review Philip Morris International’s (NYSE:PM) iQOS. Feedback from the committee on the alternative tobacco product could also impact British American Tobacco (NYSEMKT:BTI), Altria (NYSE:MO), Vector Group (NYSE:VGR) and Turning Point Brands (NYSE:TPB).

IPO/secondary share lockup period expirations: Bill Barrett (NYSE:BBG), RBB Bancorp (NASDAQ:RBB), First Republic (NYSE:FRC) and Corbus Pharmaceuticals (NASDAQ:CRBP) on Jan. 22; Sienna Biopharmaceuticals (NASDAQ:SNNA), Ablynx (NASDAQ:ABLX), Immune Design (NASDAQ:IMDZ), Savara (NASDAQ:SVRA) and UniQure (NASDAQ:QURE) on Jan. 23; Newater Technology (NASDAQ:NEWA), Redfin (NASDAQ:RDFN), Idera Pharmaceuticals (NASDAQ:IDRA), Atossa Genetics (NASDAQ:ATOS) and Hutchison China MediTech (NASDAQ:HCM) on Jan. 24; First Bancshares (NASDAQ:FBMS), VBI Vaccines (NASDAQ:VBIV) , Celsion (NASDAQ:CLSN) on Jan. 25.

Notable earnings reports: Earnings season really heats up this week with major reports out of every sector. Netflix (NASDAQ:NFLX) and Halliburton (NYSE:HAL) on January 22; Johnson & Johnson (NYSE:JNJ), Texas Instruments (NYSE:TXN), Verizon (NYSE:VZ), Procter & Gamble (NYSE:PG), United Continental (NYSE:UAL), Capital One Financial (NYSE:COF) and Kimberly-Clark (NYSE:KMB) on Jan 23.; Ford (NYSE:F), General Electric (NYSE:GE), Las Vegas Sands (NYSE:LVS), Comcast (NASDAQ:CMCSA), United Technologies (NYSE:UTX) on Jan. 24; Intel (NASDAQ:INTC), Starbucks (NASDAQ:SBUX), (NYSE:VMW), Wynn Resorts (NASDAQ:WYNN) and Western Digital (NYSE:WDC) on Jan. 25; Honeywell (NYSE:HON), AbbieVie (NYSE:ABBV) and Colgate-Palmolive (NYSE:CL) on Jan. 26. See Seeking Alpha’s Earnings Calendar for the complete list.

M&A watch:There are potential deals brewing with Juno Therapeutics (NASDAQ:JUNO), Acorda Therapeutics (NASDAQ:ACOR), Kroger (NYSE:KR)-Overstock.com (NASDAQ:OSTK), CBS (NYSE:CBS), Fossil (NASDAQ:FOSL), Bloomin’ Brands (NASDAQ:BLMN) and in REIT world with Vici Properties (OTCPK:VICI)-MGM Growth Properties (NYSE:MGP).

Detroit Auto Show: With the dreamy talk about next-gen electrification and mobility goals out of the way, the second week of the Detroit Auto Show is all about letting the public see new models. Front and center in Detroit will be the Ford (F) Ranger, Chevrolet (NYSE:GM) Silverado and Ram (NYSE:FCAU) 1500. BMW (OTCPK:BMWYY) is looking to gain traction in a new sub-segment with the sporty X2 SUV, while Volkswagen (OTCPK:VLKAY) is showcasing the new sub-$ 20K Jetta as it looks to rebuild U.S. sales. On the exotic side, Steve McQueen fans might want to take a look at the special edition Ford Mustang Bullitt. Although Tesla (NASDAQ:TSLA) is skipping the Detroit Auto Show for the third year in a row, the Model 3 will be in the spotlight this week as it makes its way into more showroom. Early test drive reviews (Los Angeles Times, Edmunds (video), USA Today) are already starting to roll in.

Crypto: A couple of mainstream events are on the calendar this week with the Blockchain Davos Conference 2018 and Cannaccord Blockchain Investor Day scheduled for Jan. 23. The blockchain-focused Amplify Transformational Data Sharing ETF (NYSEARCA:BLOK) and Reality Shares Nasdaq NexGen Economy ETF (NASDAQ:BLCN) will also catch the spotlight as they close out their first week of trading. As always, expect volatility in the sector. 7-day crypto scorecard: Bitcoin -14%, Ripple -25%, Ethereum -18%, Bitcoin Cash -31%, Litecoin -19%, Cardano -24%, NEM -25%, NEO +5%, TRON -25%, Stellar -10% and IOTA -26%.

Investor/Analyst Days: The Medicines Company (NASDAQ:MDCO) on Jan 23.

Sales/business updates: HP (NYSE:HPQ) on Jan. 22; Workhorse Group (NASDAQ:WKHS) on Jan. 23; Progressive on (NYSE:PGR) on Jan. 24.

Extraordinary shareholder meetings: CTI Biopharma on (NASDAQ:CTIC) on Jan. 24; Broadsoft (NASDAQ:BSFT) on Jan. 25.

Americas Lodging Investment Summit: Just days after a big industry-rattling deal between Wyndham Worldwide (NYSE:WYN) and La Quinta (NYSE:LQ), hotel management execs meet in L.A. on Jan 22-25. Presenters include Hyatt (NYSE:H), Choice Hotels (NYSE:CHH), Park Hotels & Resorts (NYSE:PK), Marriott International (NYSE:MAR), Red Lion Hotels (NYSE:RLH) and Ashford (NYSEMKT:AINC).

Barron’s mentions: In part 2 of its Roundtable, the panel discusses potential bargains including Samsung (OTC:SSNLF), Starbucks, GrubHub (NYSE:GRUB) and MetLife (NYSE:MET), among others. A set of picks for top stocks in emerging markets include Sberbank (OTCPK:SBRCY), Posco (NYSE:PKX), China Construction Bank (OTCPK:CICHY) and Hollysys Automation Technologies (NASDAQ:HOLI). And retailer H&M (OTCPK:HNNMY) isn’t a bargain yet despite a recent 20% decline.

Sources: CNBC, EDGAR, Bloomberg and Nasdaq.com.

Editor’s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.

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Supply chain attack hits Mac users of HandBrake video converter app
May 8, 2017 3:40 pm|Comments (0)

Hackers compromised a download server for HandBrake, a popular open-source program for converting video files, and used it to distribute a macOS version of the application that contained malware.

The HandBrake development team posted a security warning on the project’s website and support forum on Saturday, alerting Mac users who downloaded and installed the program from May 2 to May 6 to check their computers for malware.

The attackers compromised only a download mirror hosted under download.handbrake.fr, with the primary download server remaining unaffected. Because of this, users who downloaded HandBrake-1.0.7.dmg during the period in question have a 50/50 chance of having received a malicious version of the file, the HandBreak team said.

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Acoustiblok® “Hits Home Run” at Fenway Park with Solution to…
August 30, 2016 4:10 am|Comments (0)

Acoustiblok’s All Weather Sound Panels® were installed at Boston’s famous Fenway Park to resolve noise issues from a chiller and other mechanical equipment in an exclusive outdoor function area….

(PRWeb August 29, 2016)

Read the full story at http://www.prweb.com/releases/2016/08/prweb13640074.htm


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CoreOS Funding Hits $48M as Container Momentum Builds
May 9, 2016 4:05 pm|Comments (0)

VIDEO: Brandon Philips, co-founder and CTO of CoreOS, discusses his firm’s new funding, projects and Cloud Native Computing Foundation efforts.


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Former Vodafone boss backs India’s music-streaming service Saavn as it hits 18M users
October 28, 2015 1:00 pm|Comments (0)

Saavn-Logo

Mumbai-based music-streaming service Saavn announced Thursday that former Vodafone chief executive Arun Sarin has joined as an investor and strategic advisor.

The news comes less than three months after the company announced $ 100 million in fresh funding. At the time, it said it was adding one million new users per month, with 14 million in total.

As of today, that number has grown to 18 million monthly active users, which it says represents a tenfold increase in daily active users in India since last year.

Beyond that, it’s claiming more than 20 million songs (over 250 million streams per month) and a global team of 145 people across five offices.

“Music streaming is a core app on today’s smartphones, and Saavn is superbly positioned to grow rapidly in the fast expanding smartphone market in India,” Sarin said in a statement.

“As an innovative and nimble music-streaming company, at the heart of one of the world’s most valuable markets, Saavn hits all the right notes,” he added.

Meanwhile, the company’s cofounder and chief executive, Rishi Malhotra, said that over 90 percent of the service’s usage is driven by smartphones, and that it plans to “work more deeply with carriers in India and additional territories” in the coming months.

Sarin’s investment amount was not disclosed.

The company’s most recent series C round in July was led by New York-based hedge fund Tiger Global Management, and at the time it said that it expects to hit 20 million users by the end of the year.

But while the service may be the market leader on its home turf in India, it certainly has its work cut out if it hopes to expand globally — an area in which Sarin’s expertise will no doubt help. That said, the company did not make any mention of expansion plans today.

In general, the music-streaming space has been busy.

Earlier this week, we reported that Deezer is planning an IPO later this year as the battle with rivals Spotify and Apple Music heats up. And Google Play Music continues to expand with its official entry into Japan a few weeks ago.

Microsoft’s Groove Music just announced support on Sonos speakers, and Spotify hasn’t managed to keep out of headlines either: On Wednesday it launched its new “Mix Mates” playlist generator to help friends find music they share in common. (We also heard rumors that Spotify will be supported on Google’s upcoming second-generation Chromecast.)

The announcements from Saavn today are encouraging, but it’s only just the beginning of the global music-streaming wars — and versus many of the other big players, its user numbers are still relatively low.

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Okta Hits $1.2B Valuation After New Funding
September 11, 2015 4:00 pm|Comments (0)

As businesses are increasing turning to the cloud for enterprise-level software and services, login management startup Okta announced today it has raised a fresh $ 75 million in funding.

Okta helps companies manage the various logins, passwords, and access to a plethora of cloud-based services they may have need of on a consistent basis. Employees enter login info to various services via Okta the first time, then refer back to Okta rather than logging in directly. (So for example, Okta could manage your login info for your company email account, task management service Asana, and the company brand’s Twitter account.) The idea is to get a better sense of who has access to what services, while eliminating possible phishing attacks or other malicious ways a hacker might gain access to a company’s various assets.

“We’re at an important inflection point where IT leaders, product developers, industry analysts and the biggest technology companies in the world are acknowledging the critical role identity plays in connecting people, apps, devices and organizations,” said Okta CEO Todd McKinnon in a statement.

The funding round itself was led by Andreessen Horowitz, Greylock Partners, and Sequoia Capital, with participation from additional existing investors. It also brings the total raised by the company to $ 230 million, and boosts its valuation to $ 1.2 billion, according to the Wall Street Journal. (Yes, for those keeping track, Okta is now the latest member of the Unicorn club — aka startups with a valuation that exceeds $ 1 billion.)

Okta hits $ 1.2B valuation after new funding originally published by Gigaom, © copyright 2015.

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