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FTSE 100
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Last Week’s Highlights
Apple revealed security vulnerabilities
Apple released an emergency security update due to certain vulnerabilities in iPhones, iPads, and Macs. The company claimed to be aware that this issue may have been exploited and that is why it released this update. What would happen is that a hacker could fully access the administration of a device and “execute any code as if it were you, the user,” said Rachel Tobac, CEO of SocialProof Security. Several security experts recommend prompt updates to affected devices, especially for people who are “in the public eye.” This security vulnerability is found in: iPhone 6 and later models; the fifth generation iPad and later models, all iPad Pro models and the iPad Air 2; and also Mac computers running MacOS Monterey.
GM brings back dividends
GM said Friday it will reinstate quarterly dividend payments after more than two years. The automaker suspended dividend payments and share buybacks after the pandemic’s impact on sales and production. General Motors is confident that it has overcome the worst moments and the most complicated problems in the wake of Covid-19, so the first dividend, at the rate of 9 cents per share on the company’s common stock, will be paid on September 15, 2022, the company said in a statement. Despite having an optimistic outlook, GM shares are down 33% year-to-date; however, following the announcement of the dividend payments, the stock rose more than 2% to $39.36
Coming Up This Week
Roku to grow in Mexico
Roku announced the expansion of its operations in Mexico with the launch of three Roku TV brands in Mexico, Aiwa, Daewoo, and Sansui. Now, the number of Roku TV offerings in Mexican territory amounts to 12. Given this situation, investors and analysts foresee an optimistic outlook for the streaming company’s shares. Roku’s revenues and profits so far this year have not exceeded expectations and the company had disappointing numbers in the second half of 2022. Nevertheless, major investors are buying Roku’s stock, and in fact, the Wall Street community is cautiously bullish on this company’s shares. The average stock price forecast is $82.86, and it would have an upside potential of 11.5%.
Snap’s selfie camera drone is no more
According to The Wall Street Journal, Snap discontinued its selfie camera drone development. Pixy is a small flying camera that allows users to take selfies or record videos. This product hit the market only four months ago, but Snap decided to halt its development in order to reprioritize the company’s resources for the company’s second-quarter results. “While the continued growth of our community increases the long-term opportunity for our business, our second quarter financial results do not reflect our ambition. We are evolving our business and strategy to re-accelerate revenue growth, including innovation in our products, investing heavily in our direct response advertising business, and cultivating new revenue streams to help diversify our top-line growth,” stated Snap’s CEO, Evan Spiegel.
