Alviva Holdings said on Wednesday that it’s full-year headline earnings will fall by more than 50%, though it said its prospects have improved since a disappointing set of interim results earlier this year.
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JSE-listed technology group Mustek reported a 9.4% increase in revenue in the year ended 30 June 2020, in spite of three months of the reporting period including the Covid-19 lockdown in South Africa.
South Africa’s GDP slumped by 51% in the second quarter of 2020 as the result of one of the hardest Covid-19-related government lockdowns anywhere in the world.
Tesla shares slumped in US pre-market trading on Tuesday after the electric vehicle maker missed out on being included in the S&P 500 Index, taking investors who had bet on its entry to the benchmark by surprise.
Thursday’s megacap tech selloff is likely just some froth coming off a hot market rather than a portent of a larger pullback to come.
In just a few hours, Zoom Video Communications CEO Eric Yuan got $4.2-billion richer after shares of his virtual-meeting company surged as much as 26% to $410 in late US trading.
The high-flying shares of Apple and Tesla rose further on Monday, as investors jumped at the opportunity to own shares at more affordable prices after the companies split their stock.
US technology giants are increasingly dominating the stock market in the midst of the coronavirus pandemic, even as they draw accusations of unfair business practices. Some investors fear the pump is primed for a tech-fuelled sell-off.
The JSE has publicly censured Ayo Technology Solutions and imposed a R6.5-million fine on the controversial technology group after it published a series of “false and misleading” financial statements.
Cape Town-based DataProphet, a major provider of artificial intelligence solutions that enable manufacturers to implement autonomous manufacturing, has raised $6-million in a new funding round.