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Tim Cook: Apple donating millions in response to Charlottesville violenceExternal Link

Apple Inc. Chief Executive Tim Cook condemned white supremacists on Wednesday, and said the company is putting its money where its mouth is. In an email to employees that was obtained by Recode, Cook said the tech giant will donate $1 million each to the Southern Poverty Law Center and the Anti-Defamation League, and that it will match employee donations to human-rights organizations two-to-one through Sept. 30. Cook also said Apple was working on a way to make donations through iTunes. Cook said he disagreed with President Donald Trump's response to the weekend violence in Charlottesville, Va. "This is not about the left or the right, conservative or liberal. It is about human decency and morality," Cook said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Thu, 17 Aug 2017 03:49:20 GMT
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Google acquires AI vision tech firm, Fabby app maker AIMatter: reportExternal Link

Alphabet Inc.'s Google acquired a startup to help it with its artificial intelligence vision tech, according to report late Wednesday. Google acquired Belarus-based AIMatter, a company that uses a neural network to help detect and process images on mobile devices, according to TechCrunch. Terms of the deal were not disclosed. AIMatter makes the Fabby app, which uses AI to recognize different parts of selfies to apply effects and alterations.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Wed, 16 Aug 2017 22:32:09 GMT
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Analog Devices names Prashanth Mahendra-Rajah its new CFOExternal Link

Analog Devices Inc. said late Wednesday that Prashanth Mahendra-Rajah will join the company on Sept. 28 as its senior vice president of finance and chief financial officer, reporting to Chief Executive Vincent Roche. Mahendra-Rajah is currently the CFO of WABCO Holdings Inc. . Shares of Analog Devices were flat in late trading after ending the regular session up 0.1%. WABCO shares, also flat, ended the regular session down 0.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Wed, 16 Aug 2017 20:59:57 GMT
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Victoria's Secret parent L Brands shares fall after company cuts full-year view External Link

Shares of L Brands Inc. fell more than 7% late Wednesday after the parent of Victoria's Secret met Wall Street's quarterly sales expectations but cut its forecast for third-quarter and full-year earnings. L Brands said it earned $138.9 million, or 48 cents a share, in the second quarter, compared with $252.4 million, or 87 cents a share, a year ago. Adjusted for one-time items, the company said it earned 48 cents a share in the quarter, compared with 70 cents a share a year ago. Net sales fell to $2.8 billion in the quarter, from $2.9 billion a year ago. Analysts polled by FactSet had expected GAAP and adjusted earnings of 45 cents a share on sales of $2.8 billion. Comparable sales fell 8% for the quarter, in part due to Victoria's Secret's exiting the swim and apparel categories, the company said in a statement. "Accordingly, the company's guidance for the remainder of the year reflects a more conservative sales forecast than its previous guidance," L Brands said. The company updated its guidance for full-year 2017 per-share earnings to between $3 and $3.20, from a previous guidance of $3.10 a share to $3.40 a share, and guided third-quarter per-share earnings to between 25 cents a share and 30 cents a share. Shares ended the regular trading day up 1.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Wed, 16 Aug 2017 20:54:34 GMT
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Valeant Pharma works to resolve FDA concerns at Tampa plantExternal Link

Valeant Pharmaceuticals International Inc. shares ticked higher in the extended session Wednesday after the drugmaker said that issues from a Food and Drug Administration inspection were being resolved. Valeant shares rose 1% to $14.30 after hours. Valeant said an inspection of its Bausch & Lomb plant in Tampa, Fla., turned up some "manufacturing uncertainties" but a collaboration with FDA inspectors to resolve the issues will result in a Voluntary Action Indicated certification, where objectionable concerns were observed by inspectors but were not significant from a regulatory standpoint.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Wed, 16 Aug 2017 20:49:26 GMT
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