Share Name Share Symbol Market Type Share ISIN Share Description
Globaldata Plc LSE:DATA London Ordinary Share GB00B87ZTG26 ORD 1/14P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 1,370.00 1,340.00 1,400.00 1,370.00 1,370.00 1,370.00 3,846 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 178.4 28.6 19.4 70.6 1,401

Globaldata Share Discussion Threads

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A somewhat hybrid version of the article. hxxps:// Google and China’s Tencent Find Being Friends Has Benefits The tech giants have struck a cross-licensing deal for patents By Liza Lin in Shanghai and Alyssa Abkowitz in Beijing Jan. 19, 2018 4:25 a.m. ET Alphabet Inc.’s Google and Tencent Holdings Ltd. will license each other’s technology patents, a deal that could help the former broaden its toehold in the Chinese market and accelerate the global expansion of the latter. They entered a long-term patent cross-licensing agreement for a broad range of products and technologies, the two companies said Friday, adding they were open to more cooperation in the future. “By functioning with each other on agreements this sort of as this, tech providers can concentrate on making much better products and solutions and products and services for their customers,” Mike Lee, Google’s head of patents, reported in a assertion. Financial terms weren’t disclosed, and neither enterprise commented outside of their statements. Cross-licensing discounts enable firms to license just about every other’s technological innovation for use in diverse marketplaces, mentioned Lester Ross, an attorney at WilmerHale in Beijing. Mr. Ross mentioned that cross-licensing deals can restrain opposition, but that they also make sector efficiencies—for instance, decreasing the price of acquiring to file for patents in numerous international locations. Firms this sort of as Samsung Electronics Co. and Apple Inc. have signed this sort of agreements in the previous to protect against infringing each and every other’s engineering and regional patents and hence steering clear of pricey lawsuits. The arrangement is the most current in a string of moves by Google to expand its access into mainland China, after it pulled out its most important lookup organization in 2010 owing to problems about hacking and censorship. Various weeks back, the Mountain View, Calif.-centered corporation opened an synthetic-intelligence lab in Beijing, and this week said it is opening a new Chinese office—in Shenzhen, the city around Hong Kong, the place Tencent is centered. Google now operates offices in Beijing and Shanghai, employing about 600 staff members. Though Google’s research motor is blocked in China, the places of work are used mostly for its ad profits employees and engineers doing the job on its global solutions. Google will use the new foundation in Shenzhen in section to faucet into the region’s electronics components offer chain, in accordance to an e mail despatched to its Chinese workers. Tencent is China’s major tech firm by market place capitalization, and it helps make most of its cash from videogames. Its WeChat social community app is dominant in China, but has scant achieve further than. Chris DeAngelis, China general supervisor for technological innovation consultancy Alliance Growth Team, sees the tie-up with Google as a indicator of Tencent’s world wide ambitions. “It signifies that China’s engineering giants have developed up,” Mr. DeAngelis reported. “Tencent is now a worldwide participant.”
20:56 Apple to Pay $38 Billion In Repatriation Tax; Plans New U.S. Campus 17/01/2018 7:26pm Dow Jones News Apple Inc. said Wednesday it plans to pay $38 billion in repatriation taxes on profits and cash held overseas following the enactment of the new tax law. As of last September, Apple had $252.3 billion in cash or cash equivalents abroad. The consumer technology giant also said it would contribute more than $350 billion to the U.S. economy over the next five years by adding new jobs and investing in its domestic suppliers. Apple plans to spend more than $30 billion over the next five years to create 20,000 jobs and open a new campus at a U.S. location to be announced later this year. The company said it would also ramp up its education programs to help train people for jobs in software development. Apple shares rose 0.5% to $177 in afternoon trading. The stock has risen 48% over the past year. "Apple is a success story that could only have happened in America, and we are proud to build on our long history of support for the U.S. economy, " said Chief Executive Tim Cook.
almost all installed CPUs are flawed hxxp:// January 9, 2018 by Stephen Streater Meltdown and Spectre Introduction In my AI blog series, I have discussed the power of inductive logic and its weakness – a vulnerability to Black Swans. There are many possible realities which fit with known facts, only some of which are desirable – or anticipated. And so it is with the recently announced CPU security bugs, known as Meltdown and Spectre. Discovered in Intel CPUs after ten years, almost all installed CPUs are flawed. Complexity is the enemy of security Complex CPUs have had bugs for years. These are fixed in later revisions, usually without fuss. The Pentium Floating Point Divide bug, which received a lot of attention at the time, is typical: the CPU didn’t do what it was supposed to. Meltdown and Spectre are different – the CPUs are doing exactly what people designed them to do. They just didn’t realise the capabilities of the design. By allowing introspection, modern CPUs have opened a door for software to work out what the CPU it is running on is up to, even when running other software in supposedly secure areas of the same chip. Significantly, all major chip designers have introduced the same types of critical security flaws. They didn’t understand the novel ways the instructions could be used. Using groupthink, they followed each other. We think more sceptically at Forbidden. The Blackbird Cloud Forbidden’s cloud editing platform, running its suite of Blackbird tools, has significant protection from this latest range of CPU bugs. The platform runs on Forbidden’s own hardware, dedicated to running our video platform. Unlike public clouds, members of the public cannot hire Blackbird computer resources to run spyware on each other – or on us. By restricting the complexity of our environment, we have limited the range of possible vulnerabilities, making it easier to keep secure. It is encouraging Microsoft’s Azure and Amazon’s AWS have responded so quickly with patches, and advice to users – we have prototypes for running our cloud in both. Their rapid response seems to have prevented any actual attacks. In security, it is worth following Andy Grove, Intel founder and former CEO, when he wrote: “Only the paranoid Survive”. Stephen B Streater Founder and Director of R&D hxxp:// Meltdown and Spectre: The looming death of security (and what to do about it) These latest flaws show once again that security is a mirage. It's time for a better approach. By Steve Ranger | January 10, 2018 -- 13:20 GMT (13:20 GMT) | Topic: Security
$2.65tn seems big enough to me to take control of its own destiny. Andrew Neil 1:38 am - 3 Jan 2018 World Bank: Gross domestic product 2016 of 10 largest economies (trillions of US dollars) 1 United States 18.6tn 2 China 11.2tn 3 Japan 4.9tn 4 Germany 3.5tn 5 United Kingdom 2.65tn 6 France 2.47tn 7 India 2.26tn 8 Italy 1.86tn 9 Brazil 1.8tn 10 Canada 1.53tn Jacob Rees-Mogg 8:11 pm · 19 Dec 2017 As the BBC would say in spite of Brexit... The U.K. Tops Forbes' Best Countries For Business 2018
London is the undisputed tech capital of Europe UK tech sector enjoys record investment in 2017 despite Brexit uncertainty UK firms attracted almost four times more funding in 2017 than Germany and more than France, Ireland and Sweden combined Josie Cox Business Editor Friday 5 January 2018 10:50 GMT A record amount of money flowed into the UK tech sector last year, particularly fuelled by venture capitalists splashing cash in London, despite uncertainty around the implications of Brexit, new data has revealed. UK tech firms attracted close to £3bn in venture capital funding during the 12 months to the end of December, according to data compiled by the Mayor of London's official promotional agency, London & Partners. That was almost double the £1.63bn attracted throughout 2016, and marks a fresh all-time record for the country. London accounted for around 80 per cent of all venture capital tech funding in 2017. Some of the biggest funding rounds were pulled off by game development platform Improbable, food delivery service Deliveroo and mobile network Truphone. “Today’s record investment figures are further proof that London is the undisputed tech capital of Europe and I am committed to ensuring we take over from Silicon Valley as the world’s leading tech hub,” said Mayor of London, Sadiq Khan. “Technology entrepreneurs and businesses are attracted to our great city for its diverse talent pool and unique business ecosystem and I am determined that London remains open to investment and the best tech talent from all over the world,” he added. The data also revealed that UK firms attracted almost four times more funding in 2017 than Germany and more than France, Ireland and Sweden combined. London & Partners said that the capital’s tech companies also raised significantly more venture capital than any other European city. Eileen Burbidge, a partner at investment company Passion Capital, said that the figures were “no surprise”. “It’s a testament to our exceptional entrepreneurs that the UK tech sector continues to produce companies that are leading in the development of cutting edge technologies such as artificial intelligence and fintech,” she said. “This environment and ecosystem of innovation presents tremendous opportunities for investors and will help to attract global investment into the UK’s digital economy for many years to come,” she added. By sub-sector, the UK’s financial technology – or fintech – space led the year in terms of investment, attracting a record £1.34bn. London accounted for the bulk of that, with deals from the likes of Transferwise, Funding Circle and Monzo. The UK’s Artificial Intelligence companies also grew their funding last year. Investment in London-based AI companies surpassed £200m –a 50 per cent increase on 2016 levels. London & Partners also pointed out that several global tech behemoths pledged their long-term commitment to the capital last year. Amazon, Apple and Google all announced major investments. During the second half of the year, music streaming service Spotify said that it would expand its research and development operations in London and double its staff headcount in the capital.
Good afternoon all. I am just sorting through some old certificates. I am tracing some The Mutual Net certs into Progressive Digital Media. This piece suggests that PRO took over (or reversed into?) Global Data Holdings in January 2016: h x x p://www.i i I can find no certificates for PRO and none for DATA (but I do have old certs for TMN). Anything I am missing? And anyone know whether a 198 shares in TMN would just have been dissolved into nothing of DATA? Thanks, G.
quantum computing .. introduces further risks that make bitcoin not well suited to become a widely adopted currency hxxps:// Alexander Bueso WebFG News 27 Dec, 2017 14:39 Governments may act if Bitcoin prices triple, Citi says It's hard to say how high Bitcoin prices may rise, but many signs point to it being just a bubble and government action against it - possibly should prices triple - will likely determine its peak value, analysts at Citi told clients. In particular, Citi pointed to the inherent volatility of Bitcoin, at nearly seven times that of emerging market currencies or gold, to argue that the crypto-currency would simply just not do as as a 'means of transaction' or as 'a store of value' - two of the basic properties of any currency. It was also exceptionally "wasteful", with recent reports indicating that mining it was using up nearly as much as energy as consumed by all of Denmark, with the cost set to rise further. Indeed, such waste would eventually become an additional incentive for governments to outlaw it, Citi argued. The role played by Bitcoin in the informal economy was another reason why authorities might decide to act, together with the increasingly high risks a hypothetical failure of Bitcoin might pose for economies such as that of Russia, Nigeria or New Zealand due to the elevated value of Bitcoin transactions as a proportion of gross domestic product. According to Citi, other countries with a high level of Bitcoin holdings as a share of GDP included the Ukraine, Kenya, South Africa and Colombia. To take note of, at 2% the UK also ranked high on the list of countries that were the most Bitcoin friendly. Citi drew a comparison with the negative wealth effects experienced during the Internet bubble to drive home its point. During the 'Dotcom' bubble, between the peak in the stockmarket reached in March 2000 and the onset of economic recession in March 2001, the market capitalisation of shares listed in the US dropped by approximately 20% of GDP. And now there were already several countries where the value of Bitcoin transactions, as a share of GDP, was starting to become worrisome, such as in Russia at 5% and Nigeria or New Zealand at 4%. "If bitcoin were to flop, those countries would already experience a meaningful negative wealth effect. On the other hand, for the US it is very low at 0.17%. "Another tripling of bitcoin prices from the highs (to $60,000) may focus minds of authorities. But are the potential wealth effects outlined above enough to compel policy makers in the at risk countries to move against bitcoin?," the analysts said. Bitcoin's security was noting to write home about either, according to Citi, as recent cases of theft of Bitcoin wallets - albeit not the coins themselves - had demonstrated. The advent of quantum computing also made it more likely that at some point private keys could be replicated from public keys, the investment bank said. "Even in the best case outcome this is at the very least likely to lead to additional forks. While quantum computing may not be the end of bitcoin, at the very least it introduces further risks that make bitcoin not well suited to become a widely adopted currency, rather than just a highly speculative plaything."
13:49 Bitcoin price tumbles 20% Crash caps volatile week of warnings from regulators and security problems at 2 exchanges Emma Dunkley and Alice Woodhouse in Hong Kong and Adam Samson in London December 22, 2017 "The price of bitcoin tumbled 20 per cent on Friday, following a week marked by high-profile security problems at two exchanges and warnings from global regulators about the risks cryptocurrencies pose. Bitcoin tumbled as low as $12,191.80, according to Bloomberg, leaving it more than 30 per cent down from a record high touched at the start of the week. Its crash caps a volatile week for the controversial cryptocyrrency that began the year at just $1,000, prompting some to question whether a bubble is bursting. Other digital currencies also fell on Friday, according to OnChainFX which tracks them. Ethereum, the second-largest cryptocurrency by market capitalisation, was 26 per cent lower at $641.65, while bitcoin doppleganger “bitcoin cash” fell 38 per cent. The moves reverse a surge in prices over the past month, fuelled by the launch of bitcoin futures on the US-based Cboe Global Markets exchange, as parts of mainstream Wall Street try to capitalse on the recent fervour. Rival exchange operator CME Group has also opened trading in bitcoin futures recently The rise in bitcoin prices has evoked comparisons with the dotcom bubble, intensifying concerns about risks of speculating in the cryptocurrencies."
23:03 Brexit fears overblown as more tech workers come to UK from outside the EU James Titcomb 15 December 2017 • 12:01am More technology workers in the UK are coming from India, Australia and the US than from major EU countries, according to a study. Research from Tech City, the Government-backed organisation for the technology industry, found that the biggest sources of technology workers were from outside the single market, rather than from France and Spain. The figures go some way to soothing fears that Brexit will lead to a deficit of highly-skilled workers in the tech industry, despite warnings that leaving the EU will starve start-ups of talent. The report used data from LinkedIn to analyse the spread of workers with technology skills that entered the UK last year. These included people working in aerospace, telecoms and healthcare, which the researchers said gave it a wider perspective than the cluster of internet start-ups that exists London. It found that India provided the most technology workers arriving in the UK last year, at 12pc, followed by the US and Australia at 10pc and 7pc. Spain and France provided 6pc of workers, with Italy 5pc. Previous figures have shown that more tech workers living in the UK come from outside the EU, but the latest numbers suggest the flow of new workers also largely comes from other countries. The Government recently boosted the number of special visas made available to non-EU tech workers, which the industry says are likely to become more important after Brexit. The researchers said that although technology workers are most highly-concentrated in London, just over half of those who arrived in the UK last year settled outside of the capital. Ministers are attempting to boost technology companies in the regions. It recently funded Tech City, which was set up as a London-focused organisation, to set up a network of regional hubs and to rebrand itself as “Tech Nation”.
The saga continues. Market cap £8.35m. hxxp:// December 14, 2017 by Ian McDonough Looking Forward "Feedback from both existing and prospective customers is unanimous – Blackbird video technology should be a game changer within the industry – reaffirming my core reason for joining Forbidden as CEO and investing personally in the company. Throughout my media career, and especially in my time at Turner and BBC Worldwide, I developed a deep appreciation of the need to continuously improve speed and efficiency, which Blackbird is ideally positioned to do. Our primary commercial objective is to integrate Blackbird as an infrastructure component in the media supply chain. These infrastructure sales have far more financial potential, although they have longer sale cycles. There is a lot of work to be done, to tackle both the lack of sales and the fact that Forbidden has been under-selling its technology, but I relish a challenge, and we are making good headway for the new year ahead." Have a Merry Christmas and Happy New Year 2018
a “few billion dollars” could definitely go a long way when it comes to streaming-only deals hxxps:// Facebook reportedly wants to spend a ‘few billion dollars’ for streaming sports rights Mark Zuckerberg already bid $600 million for a cricket deal. What’s next? By Peter Kafka Dec 4, 2017, 3:51pm EST Thing you knew but should keep thinking about anyway: The big tech companies are very interested in streaming live sports to you. Today’s reminder comes from Facebook, which wants to hire an exec to negotiate sports rights deals. The company has been interviewing candidates for a while, says Sports Business Journal’s John Ourand. More interesting: Ourand’s sources say whoever gets the job will have a budget of a “few billion dollars” to spend on global rights deal. No comment from Facebook comms on his story, but John is a very good reporter, so let’s assume the number is correct until we hear otherwise. Here is the thing about a “few billion dollars”: It is a lot of money! But it’s crucial to know what period of time that covers. And, in the context of sports rights deals, it may be less than you think. In 2014, for instance, DirecTV agreed to pay the NFL a reported $1.5 billion a year for the rights to its “Sunday Ticket” ticket package. (That deal is up in 2022, by the way.) ESPN and Turner are paying the NBA a reported $2.66 billion a year for their current deal. So: Unless the value of TV sports rights deals dramatically craters in the near future, Facebook won’t be buying any exclusive rights to any big-ticket sports anytime soon. On the other hand, a “few billion dollars” could definitely go a long way when it comes to streaming-only deals, sold alongside traditional TV deals. That’s what the NFL has been doing with its Thursday night games for the last couple years: Last year, it sold the digital rights to Twitter for about $10 million; this year Amazon got them for about $50 million. And Facebook itself just bid $600 million — $120 million a year for five years — to stream cricket matches in India. It didn’t get the deal — Star paid $2.6 billion for a combined TV-digital deal — but it was a good sign that Facebook is willing to spend significant money for sports. And now we have another.
13:58 GlobalData PLC Acquisition of MEED Media FZ LLC 08/12/2017 1:45pm GlobalData Plc is pleased to announce its agreement to acquire MEED Media FZ LLC ("MEED") from Ascential PLC for a cash consideration of $17.5m. MEED provides premium business information content with an industry focus on infrastructure and projects in the Middle East. The business services its growing client base principally through annual subscription contracts. Background to the Acquisition The acquisition of MEED supports the Group's strategy of expanding its premium subscription based services into global markets and adds a further vertical industry to the Group's offering. MEED has quality proprietary content and brings deep regional and sector expertise to the Group. For the financial year ended 31 December 2016, the revenues for MEED were $18.7m with an EBITDA of $1.7m and it had net liabilities of $1.7m, largely as a result of its deferred revenues. The cash consideration will be financed using the Group's existing bank facilities and the acquisition is expected to be earnings accretive in the first year of ownership. Commenting on the acquisition Bernard Cragg, Executive Chairman, said: "MEED gives the Group the opportunity to further expand into a key region and adds an additional industry vertical to our offering whilst maintaining our disciplined investment criteria of premium proprietary content and strong renewable subscription based revenues. I would like to take this opportunity to welcome our new colleagues to the Group and wish them every success for the future within GlobalData." About GlobalData Plc 4,000 of the world's largest companies make better and more timely decisions thanks to our unique data, expert analysis and innovative solutions delivered through a single platform. At GlobalData, our mission is to help our clients decode the future to be more successful and innovative. We are now one of the largest data and insights solution providers in the world.
At present the only way to short is to sell your bitcoin and exit the market, a bias that favours bulls hxxps:// 07 Dec, 2017 17:08 Bitcoin surges past $16,500 despite news of $60m heist "Neil Wilson at ETX Capital said he was running out of new things to say about bitcoin, only that the price action is exceptional and without any parallels. "It’s a bubble for sure in its dynamic, we just don’t know when or how it will collapse." He highlighted a couple of factors that he felt could do with further expanding upon. "Firstly, a regulatory crunch is coming. This is to be expected and the recent price action may in part be explained not just by the advent of regulated futures trading, but also bulls ramping up prices while the going is good. "For example, in the US, Senate Bill 1241 would require anyone dealing in bitcoin, whether issuing, redeeming or cashing it in, to be classed as a financial institution. Once you start hammering not just the Bitcoin exchanges with AML, KYC and all the other regulation, but also every investor and user, the appeal of cryptos as an off-grid currency is destroyed. In this sense, mainstreaming Bitcoin makes it less valuable, not more." Cryptocurrencies will not be regulated out of existence, as governments and central banks do not wish to stop blockchain technology, but Wilson said they can regulate "to a point where they destroy the value in any one version by taking control of it for themselves". As a regulated market with futures it "ought to behave more normally than it has done" but is likely so some "pretty major spasms" on Sunday night and Monday morning as the contracts launch, Wilson said, and will be bearish for bitcoin overall as it will allow proper shorting and hedging strategies. "At present the only way to short is to sell your bitcoin and exit the market, a bias that favours bulls. The ability to go short creates a new dynamic in the market and may result in a significant shock to prices. The problem is anyone shorting against this headwind of rapidly rising prices needs to be able to sweat out huge potential upside. As plenty before have noted, bitcoin might keep rising longer than shorts can stay solvent.”"
Naspers paid $34 million for its current stake .. that is now worth about $170 billion hxxp:// After $34 Million Investment in Tencent, Africa's Naspers Is One of World's Most Valuable By Alexandra Wexler Published November 29, 2017 JOHANNESBURG – Africa's most valuable company is now suddenly one of the world's most valuable companies, too. On Wednesday, Naspers Ltd. -- a media and internet firm little known outside South Africa and Silicon Valley -- reported a surge in half-year earnings, bolstered by its 33.3% stake in Chinese internet giant Tencent Holdings Ltd. The performance sent shares up 0.8%, bringing its gains over the last year to 84%. That has suddenly made it the world's 65th largest listed company by market value among the Stoxx Global 3000 index. Last year, it wasn't close to breaking into the top 100, according to a Wall Street Journal analysis. The stock market gains have been driven almost entirely by Tencent's own soaring share price. Back in 2001, Naspers paid $34 million for its current stake. Based on Tencent's current market capitalization, that is now worth about $170 billion. Investors have baked in a discount for Naspers shares, though, because of a dividend-withholding tax that would kick in should it ever sell out. Naspers market cap ended Wednesday at about $121 billion. Apart from Tencent, Naspers holds stakes in a host of other portfolio companies, including Group, a Russian internet company that runs two of the country's three biggest social networks, Delivery Hero, a food delivery company in Germany, and Flipkart, India's biggest e-commerce site. "The market is actually paying you to take on all these other great assets," said Philip Short, an analyst at Old Mutual Equities, in Cape Town. Naspers said net profit for the six months ended Sept. 30 rose 98% to $1.1 billion, while revenue rose 5% to $3.1 billion. That came from dividends it receives from its Tencent Holdings and profits at its e-commerce businesses, especially its global digital classified businesses. Its holdings in Tencent also gives Naspers an almost-unrivaled position as what has become essentially a silent partnership in some of the tech world's splashiest recent investments. Earlier this year, Tencent bought a 5% stake in Tesla Inc. and a 12% stake in Snap Inc. Last year, it bought Finland's Supercell, maker of the "Clash of Clans" mobile game franchise. Last year, Naspers opened a venture-capital outfit in Silicon Valley to be closer to the tech-innovation hub. Recently, the company has been quietly taking on much bigger rivals. The company launched a streaming service called ShowMax across Africa in 2015, just ahead of Netflix Inc. Naspers is also going toe to toe with Craigslist Inc. in the U.S., with a mobile app called LetGo.
Global tech stocks are up 42% this year .. Tencent surpasses Facebook in valuation Are the emerging markets and technology sectors beginning to converge? Below are the five largest holdings in one of my emerging markets collective funds which has increased in value by 42% over the past year. Samsung Electronics Co Ltd 7.56% Brilliance China Automotive Holdings Ltd 7.38% Taiwan Semiconductor Manufacturing Co Ltd 4.79% Naspers Ltd Class N 4.74% Tencent Holdings Ltd 3.99%
Global tech stocks are up 42% this year Tech Rally Goes Global, Powering Major Stock Indexes to Fresh Records -- 2nd Update 21/11/2017 11:33pm Dow Jones News By Riva Gold Shares of global technology companies are outpacing other sectors this year by the widest margin since the height of the dot-com era, with a handful of key players dictating how markets are performing around the world. That dynamic was on display again Tuesday, when the Nasdaq Composite rose 1.06% to end at its 67th record close in 2017, the highest number of record closes in any year. Shares of Apple Inc. rose 1.9%, while International Business Machines Corp. added 1%. Microsoft Corp. was also up 1.4%, putting the three tech giants among the biggest contributors to the Dow industrials' gains on Tuesday. Tech gains boosted the broader market. The S&P 500 and Dow Jones Industrial Average also closed at record highs, rebounding after a rare down stretch during the previous two weeks. Blue-chip stock indexes in Europe and Asia closed higher. In a sign that the tech rally is going global, Chinese internet company Tencent Holdings Ltd. rose 2.4% after intraday gains briefly put the company's market capitalization at around $530 billion, larger than Facebook's $528 billion. Tencent hit $500 billion for the first time Monday. Just eight companies -- Facebook Inc., Apple, Inc., Netflix Inc., Alphabet Inc., Baidu Inc., Alibaba Group Holding and Tencent -- have increased by $1.4 trillion in market cap in 2017, a sum roughly equivalent to the combined annual GDP of Spain and Portugal. Tech giants' powerful user networks, large cash piles and access to consumer data have led many investors to expect the big will only get bigger. "You need critical mass to support continuing innovation," said Christopher Dyer, director of global equity at Eaton Vance. While there are exceptions, "China and the U.S. would be natural destinations for incremental dollar investment within tech," he said. While technology companies have helped take U.S. and some Asian stock markets to record highs, less tech-heavy bourses of Europe, Canada and Australia haven't enjoyed the same success. For MSCI Europe, roughly 85% of its underperformance relative to world stocks can be attributed to differences in the weight and performance of their technology sectors, according to Morgan Stanley. "There's no doubt the markets that have high tech components will have been the best performers this year," said Paul Markham, a global equities portfolio manager at Newton Investment Management, who has invested in many of the tech behemoths. "The narrow nature of this rally has to be seen as something of a concern...but these are cash-generative companies who are being seen as the bedrock of the new economy." Global tech stocks are up 42% this year, roughly double the gains of the broad-based MSCI AC World Index. So far in 2017, the tech sector is up 21 percentage points more than the next best sector, materials -- leading by the widest margin of any sector since 1999, according to analysis by Morgan Stanley. The sector's dominance could make leading markets vulnerable should investors' enthusiasm fade for tech or regulation hamper development of these companies, some analysts say. But most don't see that happening soon as the giants of this space continue to deliver on earnings, meaning tech could continue to be the differentiator among global markets in the years to come. Samsung Electronics, Tencent and Alibaba and Taiwan Semiconductor Manufacturing Co. make up a combined 17% of the MSCI Emerging Market Index, even more influential than Facebook, Apple, Netflix, Amazon and Alphabet, which make up around 11% of the S&P 500, according to S&P Dow Jones Indices. MSCI Europe has a less than 5% weighting to technology companies, compared with a 25% weight in MSCI USA and a 17% weight in MSCI World. Tech isn't the only factor behind this year's global rally. A synchronized pickup in growth has buoyed earnings around the world, and a continued hunt for yield has left few alternatives to stocks. There are also risks for this year's winning sector, including the prospect of greater regulation or investors simply rotating out of areas that have already climbed a long way. But some analysts dismiss comparisons with the dot-com boom. Tech valuations in the U.S. are just a fraction of where they were during that era. In early 2000, the S&P 500 tech sector traded at a forward price-to-earnings ratio of 52, according to FactSet. Today, that PE is 19, compared with 18 for the S&P 500 as a whole. In the third quarter of this year, S&P 500 technology companies beat expectations by the widest margin of any sector, with an earnings growth rate of 21% -- nearly double the next best performer outside the energy sector. Many market participants think this rally still has legs, pushing record weekly inflows into tech earlier this month, with U.S. and Chinese tech funds gaining particular traction, according to fund-tracker EPFR Global. "In 1999 [tech companies] were incredibly expensive and didn't yet have a lot of earnings," said Mark Phelps, an equities chief at AllianceBernstein. But today, not only are their earnings keeping up, "they've got more data, more processing power, and they're giving the consumer a really good product," he said.
Tencent went public in Hong Kong in 2004 .. since then, it has rallied over 11,000 percent. China's Tencent surpasses Facebook in valuation a day after breaking $500 billion barrier •Tencent becomes the first Asian technology firm to reach the $500 billion valuation mark •Its shares hit a record high on Tuesday •The tech giant has a sprawling business with the WeChat messaging app, content and games Arjun Kharpal Published 11 Hours Ago Chinese internet giant Tencent has surpassed Facebook in terms of market value just a day after it became the first Asian technology firm to reach the $500 billion valuation mark. Tencent shares hit a record high of 439.6 Hong Kong dollars during Asian trading hours on Tuesday, giving it a market capitalization of 4.17 trillion Hong Kong dollars ($534.5 billion). The Chinese firm's value overtook Facebook's $519.4 billion market capitalization, which was hit at the close of the U.S. markets on Monday. Also Monday, Tencent beat Alibaba to become the first Chinese technology company to hit the $500 billion market capitalization mark. Tencent is also within touching distance of Amazon's $542.7 billion valuation. Tencent went public in Hong Kong in 2004 at 3.70 Hong Kong dollars per share. Since then, it has rallied over 11,000 percent. Tencent's stock this year alone is up 126.69 percent. Still, the company is not well-known outside of China, but owns the country's most popular messaging service, WeChat, which has close to 1 billion users. Tencent is a sprawling business that spans gaming, social media, news and content. Online and mobile games are a key part of the business — the division brought in over $4 billion in revenue last quarter. In 2016, Tencent acquired a majority stake in Finnish smartphone maker Supercell, the company behind the popular "Clash of Clans" mobile game. Tencent has also been trying to move outside of China, but not necessarily through the expansion of its own products. Instead, it has been making investments across the U.S. and Asia. It has acquired stakes in both Tesla and Snap, and invested in numerous start-ups in Asia, including India's Uber rival Ola. Analysts were positive on Tencent's stock after it smashed past market expectations when it reported third quarter earnings earlier this month. Barclays raised its price target for Tencent from $49 to $59, and upped its revenue forecasts for 2018 and 2019. "We mainly attribute accelerating revenue growth to the continued monetization improvement across multiple key business segments, such as gaming, video, and payment services, and note that user growth is still strong," Barclays said in a note on Monday.
09:08*/share-news/Fear-of-Tech-Giants-Fuels-Deal-Boom-WSJ/76137876 Fear of Tech Giants Fuels Deal Boom -- WSJ 21/11/2017 8:02am Dow Jones News Amazon, Facebook, Google and Netflix prod slower-growing companies into takeovers By Dana Mattioli This article is being republished as part of our daily reproduction of articles that also appeared in the U.S. print edition of The Wall Street Journal (November 21, 2017). "Investment bankers have gotten used to being asked by worried retail-industry chief executives to pitch takeover ideas aimed at fending off Inc. Now the fear has spread to media, health care and many other sectors, where CEOs dread the breathtaking competitive advancements made by not just Amazon but also Facebook Inc., Alphabet Inc.'s Google and Netflix Inc. The result is an explosion of mergers and acquisitions. So far this month, about $200 billion of deals have been announced in the U.S., according to Dealogic. November is on pace to be the second-biggest deal-making month since the firm began tracking them in 1995. Three recent deals, either under discussion or awaiting approval, show in especially dramatic fashion the impact of Amazon and other technology giants on M&A activity. CVS Health Corp. could reach a definitive agreement by the end of November to buy Aetna Inc. for more than $66 billion, uniting two businesses with little operational overlap, according to people familiar with the timing. The possibility that Amazon could enter the pharmacy business jolted CVS executives toward buying a health insurer, which could help CVS make better use of its retail space, people familiar with the matter said. The drugstore operator could sell insurance, draw blood and provide other services that Amazon can't easily replicate. AT&T Inc.'s planned purchase of Time Warner Inc. for about $85 billion would combine a huge but slowing mobile-phone business and the DirecTV satellite-television operation with a content machine that includes Time Warner, the owner of CNN and HBO. Randall Stephenson, AT&T's chief executive, said the point of the AT&T-Time Warner deal is to create a bulwark against Facebook and Google, which have built "incredibly strong" positions in the advertising market. "That's what this is about," he said at an event sponsored by the New York Times. In a statement to The Wall Street Journal, he added: "Tech companies are spending billions creating content and distributing it directly to consumers." AT&T's planned purchase "gives Time Warner the opportunity to do the same, across multiple platforms and with ad-supported models that cost consumers less." Here comes Netflix Walt Disney Co.'s expression of interest in a big chunk of 21st Century Fox Inc.'s assets was prompted in part by the success of Netflix, the fast-growing streaming video company, according to people familiar with the situation. Fox has a stock-market value of about $57 billion. Disney's cable channels are under pressure from cord-cutting. In August, the company announced it will launch two online subscription streaming services with sports, movies and TV programming directly to consumers. Disney said it would yank its future movies from Netflix. In the fall, Disney approached Fox about a potential deal that would provide Disney with more content and distribution assets to better compete against Netflix. (Fox and News Corp, the Journal's parent, share common ownership.) "Our goal here is to be a viable player in the direct-to-consumer space, space that we all know is a very, very compelling space to be in," Disney Chairman and CEO Robert Iger told analysts and investors this month. The Disney-Fox talks stalled, but they appear to have unleashed a wider auction for Fox assets, including its movie studio and international unit. Those assets have drawn interest from Comcast Corp., Verizon Communications Inc., Sony Corp. and possibly other potential buyers, according to people close to the discussions."
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