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10/29/20: What’s Going On

E-commerce, semiconductor mergers, Ant Group and more from around the business world.
(grapestock)
(grapestock)
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Going Online: “The accelerated shift to e-commerce due to the pandemic will have a significant impact on U.S. online holiday sales, according to a new forecast from Adobe Analytics. Adobe Analytics predicts that U.S. online sales for the months of November and December 2020 will reach $189 billion, representing a 33% year-over-year increase and setting a new record. The forecast is also equal to two years of growth in one season, Adobe says, noting that the increase in 2019 was just 13%.”

Semiconductor Avengers Assemble: “Marvell Technology Group Ltd. is nearing a deal to buy Inphi Corp. for as much as $10 billion in what would be the second big semiconductor tie-up this week as the industry rapidly consolidates. The companies could announce a deal as soon as Thursday, assuming the talks don’t fall apart. Marvell, which has a market value of roughly $26 billion, primarily makes chips used in data storage and networking. Buying Inphi would help Marvell expand its reach in networking, a fast-growing segment that has helped push Inphi’s stock up roughly 50% this year.”

Get In Early: “Ant Group Co.’s market debut will bring a windfall to a carefully curated group of international investors that bought a piece of the company two years ago. In the summer of 2018, the fast-growing financial-technology giant raised $10.3 billion from investors outside mainland China, including wealthy individuals and private funds as well as larger institutions. It was the company’s first and only private sale of stock to foreign investors before its initial public offerings.”

Companies Raising Capital
NameAmountDescription
GetYourGuide$133 MillionTravel Startup “Weathering the Covid-19 Storm” (Germany)
Outrider$65 MillionAutonomous Tech For Distribution Yards
LightDeck Diagnostics$11 MillionNew High-Speed Tests for Covid-19, Sepsis and Heart Attacks 
Slingshot Aerospace$8 MillionExpand Beyond and Defense Industries
AppFollow$5 MillionApp Management Startup

Go Your Own Way: “Apple has quietly begun to make its own search tools more visible to iPhone users through the latest version of its mobile operating system, iOS 14, the Financial Times reports.”

Softer Views: “The U.S. government is allowing chip companies to supply their products to Huawei as long as they are not used for the Chinese tech giant’s businesses related to the next-generation 5G wireless network, the Financial Times reported.”

Starting Something: “Root, which prices and sells car insurance based on driver performance, began trading on the Nasdaq as ‘ROOT’ Wednesday morning.”

Figuring It Out: “Airbus SE stemmed an outflow of cash in the third quarter as it learned to navigate an industry reeling from the pandemic, but also said the aviation market’s recovery would start later than initially forecast.”

Having A Cold One: “Homebound drinkers bought more beer online and at supermarkets, boosting organic sales at Anheuser-Busch InBev and cushioning the revenue lost at restaurants and bars amid Covid-19 restrictions.”

Big Things Coming: “Kraft Heinz Co. said higher grocery demand during the coronavirus pandemic is setting the food maker up to exceed sales expectations for next year.”

European Uncertainty: “The dollar edged up slightly on Thursday and riskier currencies remained subdued, with markets worried about Europe’s second wave of coronavirus infections and cautious ahead of the European Central Bank’s meeting.”

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