All eyes are on Tesla again, this time for the bad publicity. The U.S. Securities and Exchange Commission is conducting an investigation into whether the car company should have notified its investors about the May 7 car crash that resulted in a casualty. Google is getting the same kind of attention from the crowd regarding the security issues with Pokémon Go. The app requests too much access to users’ information, and Google aims to fix that soon. The crowd is talking about other important stories as well, which you can find on Sentifi.
1/ Tesla Motors: SEC probes into fatal car crash
Tesla disclosed today it hasn’t informed the authorities to investigate the crash of a Tesla Model S that took the life of the driver on May 7. And now it has come back to bite the company. The U.S. Securities and Exchange Commission is investigating whether the company has violated possible securities law as it failed to notify the authorities and the investors of the accident.
2/ Alphabet: Updates security measures for Pokémon Go
Google is working to fix the issue where the popular game Pokémon Go requests full access permission to users’ Google accounts on iOS, which poses security threats. The app has unrestricted access to users’ email, calendars, map, location history, and anything in between associated with Google account. Google will reduce the app’s information access to only the basic profile data.
3/ Nintendo Co Ltd: Pokémon boosts shares
Pokémon Go is taking the world by storm. It’s raised to be one of the most downloaded apps on iOS App Store and Google Play, and it catapulted Nintendo shares by 25% on a single day. The game is currently only available in the United States, Australia and New Zealand, but it will soon be launched in Asia and the rest of the world.
4/ Boeing: Raises long-term forecast for aircraft demand
The American planemaker is betting big on Asia and predicting an average annual rates of passenger traffic growth of 4.8%. It also raised it 20-year aircraft demand forecast to 39,620 worth $5.9 trillion, representing a 4.1% increase from its last estimate. It also predicted to see strong demand from China and India.
5/ S&P 500: Closes at all-time high
The index is enjoying some great gains as it hit a new all-time high and posted a new all-time intraday high. The biggest factor of the gain is the fact that the Fed is keeping the interest rates in the U.S. at a low level. Plus, oil prices are rebounding, and though the U.S. economy is posting sluggish growth, it’s still better than the global economy which is experiencing slowdown. All those elements helped boost the index, but longevity is always the question to be asked, and the market will pay close attention to the next movement of the index.
6/ Elon Musk: Has lots of bad press to deal with
Tesla is not doing so well in terms of publicity. The fatal crash of a Tesla Model S has done its part in damaging the company’s image and instilled doubts into the investors. Now the SEC is probing into that crash. Now it’s up to Elon Musk to save the company’s publicity with his revelation of the masterplan he teased earlier this week. If that plan turns out to be a disappointment, the investors may react negatively.
7/ Airbus Group: Lifts its forecast
As rival Boeing increases its future forecast, so does Airbus. Its 20-year demand forecast increased 500 from its previous prediction to 30,070 aircrafts, with a 4,5% increase in passenger traffic. Airbus also focuses on India’s rising middle class as it predicts the middle classes in emerging markets will double to 3.5 billion people by 2035.
8/ Starbucks: Raises wages
This autumn in the U.S., Starbucks employees will see their pay increase by at least 5%. After facing a barrage of accusations that the company cut back too many work hours which hurt morale and service. Recently the company announced a price increase in some of its drinks, and now it said it will also double the annual stock reward to hourly employees who have worked at the company for at least two years.
9/ Burberry: Appoints a new CEO
Christopher Bailey has stepped down from the CEO post and become the company’s president. And Marco Gobbetti has replaced Bailey as the CEO. Coming off of the chairman and CEO of French brand Celine, Gobbetti is entrusted to bring the necessary experience and skills to Burberry. The company’s shares enjoyed a 4.2% boost in value following the news.
10/ Lyft: Settles with the California Fair Political Practices Commission
Lyft got into trouble with the law again. This time, it’s a year and a half too late to filing state-mandated quarterly lobbying reports, which costs it a $6,000 fine in California.
If you want to harness the wisdom and insights from the crowd to monitor your portfolio free of charge, please sign up for myMarkets.