U.S. stock markets closed lower for a third session on Wednesday, as losses in technology shares weighed. The Dow index lost 75.70 points, or 0.4 percent, to 17,492.30. The S&P 500 gave up 15.97 points, or 0.8 percent, to 2,047.62. The Nasdaq composite dropped 75.38 points, or 1.5 percent, to 5,022.87, according to AP
Big tech names fell the most. Yahoo slumped 1 percent after saying it would scrap a spinoff of its big stake in Alibaba. Apple and Microsoft also fell about 2 percent each.
Apple’s drop was the biggest drag on the technology group, which declined the most since Nov. 13. South Korean regulators will investigate Apple’s relationships with local phone repair companies to determine whether they violate consumers’ rights. Electronic Arts Inc. slumped 5.5 percent after GameStop Corp. cut prices on the video-game maker’s “Star Wars: Battlefront.” Microsoft Corp. declined 1.5 percent.
Technology is the collection of techniques, skills, methods and processes used in the production of goods or services or in the accomplishment of objectives, such as scientific investigation. Technology can be the knowledge of techniques, processes, etc. or it can be embedded in machines, computers, devices and factories, which can be operated by individuals without detailed knowledge of the workings of such things.
On Wednesday, Shares of Apple Inc (NASDAQ:AAPL), lost -2.21% to $115.62.
Wal-Mart has moved into this field as Apple’s one-year-old tap-and-pay system is being expanded to other merchants like Best Buy and KFC and comes several months after Google launched the Android Pay mobile wallet app and Samsung came out with Samsung Pay, according to AP
Wal-Mart Stores Inc., the world’s largest retailer, said it’s testing its own mobile payment system that will allow shoppers to pay with any major credit or debit card or its own store gift card through its app at the cash register.
It will start testing the new payment system Thursday at its stores in the Bentonville, Arkansas area, where the retailer is based. It plans to launch the payment feature in all 4,500-plus U.S. stores in the first half of next year. While some stores like Starbucks or Dunkin’ Donuts allow customers to pay with gift cards, Wal-Mart says it will become the first retailer to launch its own mobile payment system that works with an iPhone or Android device — and with a major credit or debit card.
“We are creating a seamless shopping experience that comprises payment,” Neil Ashe, president and CEO of Wal-Mart’s global eCommerce, told reporters on a conference call. “It’s fast. It’s simple, and it’s a secure way for customers to use their smartphone.”
Wal-Mart’s new mobile payment systems works this way: Shoppers download the Walmart app at the cash register and then choose Wal-Mart Pay. Then they activate the camera on the app to scan the QR code on the reader after the first item is scanned by the cashier. Customers can put the phone away and an e-receipt application will be sent to the app. AP report
Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services comprise iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
Shares of Alibaba Group Holding Ltd(NYSE:BABA), declined -1.04% to $83.50, during its last trading session.
Yahoo Inc. on Wednesday signaled that its Internet business is up for sale, dealing a blow to Chief Executive Marissa Mayer and setting the stage for what may be the final act of a Web pioneer that failed to reinvent itself in the smartphone age, according to WSJ
The company said it would shelve its yearlong plan to spin off its stake in Alibaba Group Holding Ltd. into a holding company because investors feared tax regulators could challenge the spinoff and hit the company with a multibillion-dollar bill.
Instead, Yahoo said it would consider alternatives, including the sale of the core business or a so-called reverse spinoff that would turn the Web assets and a stake in Yahoo Japan into a separate, publicly traded company.
Yahoo’s about-face is a rejection of a strategy laid out by Ms. Mayer, who is now in her fourth year of an effort that has failed to yield meaningful revenue growth. Ms. Mayer had counted on the Alibaba spinoff as a centerpiece to her strategy to unlock value for shareholders and buy time for a revival of a digital-ad business eclipsed by Google Inc. and Facebook Inc. WSJ Report
Alibaba Group Holding Limited is a holding company. The Company is principally engaged in online and mobile commerce through products, services and technology. The Company provides retail and wholesale marketplaces available through both personal computer and mobile interfaces in the PRC and internationally. Retail marketplaces and services operated by the Company comprise the China online shopping destination (Taobao Marketplace); the China brands and retail platform (Tmall); the China group buying site that offers products by aggregating demand from consumers through limited time discounted sales (Juhuasuan), and the global consumer marketplace targeting consumers around the world (AliExpress).
Finally, Shares of Great Basin Scientific Inc (NASDAQ:GBSN), ended its last trade with 7.23% gain, and closed at $0.120.
Great Basin Scientific, Inc. is a molecular diagnostic testing company. The company declared that it held a special meeting of stockholders at which the stockholders approved a reverse stock split of the Company’s common stock at a ratio of between 1 for 50 and 1 for 60 to be selected at the sole discretion of the Company’s board of directors and on a record date to be determined by the board of directors in the near future. On the record date the shares will start trading based on the reverse split ratio, this will also cure the Company’s formerly declared Authorized Share Failure and the Series C Warrants will become exercisable for the following 25 trading days as formerly declared on December 7, 2015. Shareholders did not approve the proposal to improvement the Company’s authorized shares from 200 million to 950 million.
The company’s quarterly earnings growth is 110.50% as contrast to its quarterly revenue growth of 25.00. The performance measured for the month was 87.66% and weekly performance appeared at -13.29%.
The Company is focused on the development and commercialization of its molecular diagnostic platform designed to test for infectious disease. The Company has a commercially available test, a diagnostic test for clostridium difficile (C. diff), which received clearance from the Food and Drug Administration (FDA).
