Microsoft to give TikTok a soft landing

Hello there,

Microsoft (NASDAQ: MSFT) has confirmed its plans to buy TikTok from the Chinese tech company, ByteDance. It intends to conclude the deal by September 15. This deal could simultaneously resolve the controversy in Washington over Chinese technology and help Microsoft gain power in consumer technology. It could, however, also complicate the relationship between Microsoft and Facebook. Click here to read more

Google to invest $450 million in ADT

Google (NASDAQ: GOOG) just announced that it will invest $450 million in ADT (NYSE: ADT), a home security firm. The deal gives Google a 6.6% stake in ADT and the companies will combine Google’s Nest Hardware Products with ADT’s installation, service and professional monitoring network. ADT stock rose about 125% on the news in pre-market trading.  Click here to read more

Apple 🤝 legal issues

A Chinese artificial intelligence company known as Xiao-i has filed a lawsuit against Apple Inc (NASDAQ: AAPL), claiming that Apple infringed on its patents. The company argued that Apple’s Siri infringed on a patent that it was granted in 2009, and it is seeking $1.43 billion in damages. Click here to read more

GlaxoSmithKline and Sanofi are “cashing in” $2.1 billion from the U.S. Government

GlaxoSmithKline (NYSE: GSK) and French drugmaker, Sanofi (NASDAQ: SNY) will receive $2.1 billion from the U.S. government to develop their Covid-19 vaccine and deliver an initial 100 million doses. The two companies expect their vaccines to enter Phase 1 & 2 clinical trials by September, and a Phase 3 study by the end of 2020. Click here to read more

Market Movers

Here are the biggest movers in pre-market trading