For Snap, parent company of social media site Snapchat, raising money has come much easier than making it. First-quarter sales are expected to rise fourfold from a year earlier as Snapchat puts more ads in front of its roughly 150 million users. That has led analysts to expect revenue of $158 million, compared with $165 million in the fourth quarter of 2016. Still, such a sequential revenue drop hasn’t happened in at least two years, according to Snap’s regulatory filings. And any revenue hiccup

If Pandora sells itself within that 30 days, it would have to pay KKR $15 million. Pandora shares were lower on Tuesday before the report, after a slew of news dropped on Monday related to the deal, including mixed financial results, and an announcement that two board members would resign. Shares pared losses slightly after news that Pandora is actively working to close a deal. KKR’s Richard Sarnoff will also join Pandora’s board — but two other directors will leave. Venture capitalist James M.

Apple is no longer the world’s leader in innovation, Aspen Institute CEO Walter Isaacson told CNBC on Tuesday. Instead, companies like Google and Amazon are the new leaders, the biographer of Steve Jobs said. “Apple is no longer the most innovative of companies,” Isaacson said on CNBC’s “Squawk Alley.” The innovation in the virtual assistant space, for example, is coming from Google and Amazon, not Apple, Isaacson said. The value of the virtual assistant model isn’t just the hardware, but the po

Silicon Valley might be hunting unicorns in the wrong places. According to one top federal health official, entrepreneurs and investors are overlooking one massive population: Low-income Americans who qualify for Medicaid. That’s a big mistake, given that new funds are available for those that are bringing IT innovation to the space, said Medicaid chief medical officer Andrey Ostrovsky. “My gut is that it’s a big opportunity with $500 billion in federal spend every year in a system that hasn’t e

SoftBank is close to announcing that its technology fund has raised $95 billion, according to a Bloomberg report, citing people familiar with the matter. Softbank will contribute $25 billion of its own capital to the fund over the next five years. The Abu Dhabi based Mubadala Development Company is also expected to commit as much as $15 billion, people familiar with the matter told Bloomberg. SoftBank has agreed to spend more than $30 billion on technology companies itself in the last 12 months,

U.S. teen apparel retailer company Abercrombie & Fitch Co. is working with an investment bank to field takeover interest from other retailers, people familiar with the situation said on Tuesday. Abercrombie has hired investment bank Perella Weinberg Partners to handle the takeover approaches, the two sources said, asking not to be identified because the matter is confidential. It operated 709 stores in the United States and 189 stores outside the United States as of the end of January. While the

On Tuesday afternoon, Apple began inviting media to its WWDC keynote, noting that the festivities will kick off at 10 a.m. Pacific on June 5. This year’s keynote will be held at the McEnery Convention Center in San Jose, California, which we learned when Apple announced WWDC back in February. The original WWDC invite to developers said “Technology alone is not enough. Apple’s also expected to unveil its latest product software during the keynote, including iOS 11, the latest version of macOS, an

Microsoft is aiming to include the new welcome screen, shared desktops, and easy calling in the Windows 10 update due in September. This update should also include improvements to Cortana, and support for third-party smart home devices. Microsoft’s plan for supporting smart devices looks a lot like Apple’s own Home app, with the ability to manage and control smart devices directly within Windows 10. Any devices that come with these new Windows 10 features will rely on PC partners to create. Micr

That’s well below the second quarter estimate of $215 million, and the full-year revenue of $889 million expected by Thomson Reuters consensus. Paying advertising accounts, which hit 139,000, and the number of devices accessing the Yelp app (26 million) both saw double-digit year-over-year growth. Despite falling short of Wall Street’s predictions, Yelp’s revenue in the first quarter was up 24 percent from a year ago, as advertising revenue and transaction revenue both grew over 20 percent from

There are three million injuries on work sites each year, and nearly 5,000 of those accidents are fatal, according to the U.S. Bureau of Labor Statistics. That motivated Hahna Alexander to create SolePower, a start-up designing a self-charging work boot that can be implanted with various kinds of sensors to track things like location or temperature. The SmartBoot creates energy with each footstep, and can be used to charge any kind of device. Customers can also embed various sensors into the boo

NVIDIA jumped more than 13 percent in after-hours trading after earnings crushed Wall Street estimates. The company reported $0.79 EPS on $1.94 billion in revenue, beating consensus of $0.66 EPS on $1.91 billion in revenue. NVIDIA was particularly bullish on its data-center GPU business and its prospects in artificial intelligence. “Our Datacenter GPU computing business nearly tripled from last year, as more of the world’s computer scientists engage deep learning. One industry after another is a

This simultaneously increases their income, as well as forces the employers in the lower productivity industries to raise salaries to retain and attract replacement labour. The real disease would be if Baumol’s dilemma didn’t exist — but it does. Karl Marx would refer to this gap as surplus value — the product of labour which it does not get to keep. The classical misinterpretation is that the surplus value flowed to owners of capital. As we’ve previously observed, the bulk of this surplus value

Microsoft might someday use smart glasses to help you stay healthy. The company was granted a patent on Tuesday for a system that uses augmented reality headwear to send users nutritional advice based on their personal dietary needs. According to the filing, the technology also includes warnings, such as advice to avoid that late night burrito, and it ingests nutritional information from third-party restaurants. If smart technology could automate the process, it would provide much-needed transpa

Twitter today said it has begun to use artificial intelligence (A.I.) Facebook, Google, Microsoft, and other companies have previously attempted to improve various products using deep learning, a trendy type of A.I. Twitter has brought on people who are talented in this area through acquisitions of companies such as Magic Pony, and it has open-sourced some of its deep learning software. A year ago Twitter introduced a so-called algorithmic timeline that ranked tweets based on relevance instead o

Disney said ESPN took a chunk out of its operating income this past quarter, largely due to higher programming costs. The company beat analyst estimates for earnings per share, but revenue of $13.34 billion trailed the average estimate of $13.45 billion. While cable network revenue for the quarter rose 3 percent to $4.1 billion, operating income decreased 3 percent to $1.8 billion. Disney CEO Bob Iger acknowledged the rising costs of sports content in an interview with CNBC. Audiences no longer

KGI Securities analyst Ming-Chi Kuo said on Tuesday that Apple is facing a “worst case scenario” wherein Apple might not be able to build as many units as originally expected, thanks to problems with new components. “We are seeing more evidence that the worst-case scenario forecasted in our April 19 report could materialize, where new iPhone shipments in 2H17F are revised down to 80-90mn units from 100-110mn units (vs. consensus of 100-120mn units),” Kuo said. Kuo is particularly concerned with

Comey’s handling of the investigation into Hillary Clinton’s emails was central to the dismissal, Deputy Attorney General Rod Rosenstein said in a memo. Last summer, Comey said “no charges are appropriate” in the FBI’s investigation of Clinton. Edward Snowden, a whistleblower who is accused of breaking espionage laws to reveal NSA data collection, called for condemnation of Comey’s firing. Nobel laureate economist Paul Krugman questioned whether the timing was tied to the testimony of Former act

[The stream is slated to start soon. Please refresh the page if you do not see a player above.] Senate Democratic leader Chuck Schumer is set to address President Donald Trump’s firing of FBI Director James Comey. Schumer’s remarks come after several Democratic lawmakers, such as Sens. Kirsten Gillibrand and Bill Nelson, took to Twitter to call for a special prosecutor to probe Trump’s potential ties to Russia.

Wal-Mart is reportedly prepared to pay roughly $300 million to settle a bribery probe by its employees in Mexico, India, and China, according to people familiar with the matter. The Justice Department and Securities Exchange Commission prosecutors sought at least twice that amount, but was rebuffed by the retail chain in October 2016, according to a Bloomberg report. The settlement requires a guilty plea from one Wal-Mart subsidiary, but the world’s largest retailer will not be charged. Instead,

The latest move comes from P&G’s Gillette, which is going after Unilever’s Dollar Shave Club by revamping its subscription-based service for shaving razors. Gillette’s business has been hurt both by popular startups like Dollar Shave Club and Harry’s and also by shifting fashion, which has made beards more popular. Since being acquired by Unilever in 2016, Dollar Shave Club has expanded its product offering beyond razors to include shave “butter,” post-shave moisturizer, men’s wipes — similar to