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Hi there,
Here's what we're watching in business and tech news this week:
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Some big names to watch in earnings this week include: Disney, Match, Square, Uber, and Dropbox. Eyes will be on Disney, which has suffered from park closures and content production delays. However, the company has seen a bright spot in its Disney+ service, which boasts nearly 55M subscribers as of early May — just 6 months after its launch. Companies have largely beat expectations in the second quarter, though Q2 estimates have been low due to a lack of guidance.
- Look for more news surrounding Microsoft’s reported move to buy TikTok. The tech giant said Sunday it is looking to settle negotiations with TikTok's parent company, Bytedance, by September 15. We dig into how ByteDance propelled the app to exploding popularity in this report.
- Samsung will unveil 5 new devices at its Galaxy Unpacked event on Wednesday, potentially including a smartwatch, earbuds, a tablet, and 2 phones. The South Korea-based conglomerate was overtaken by Huawei last quarter for the title of the world's top smartphone vendor. However, nearly 75% of Huawei's sales stemmed from China, which has seen a quick rebound in Q2'20, whereas Samsung's major markets (e.g. North America and Europe) have yet to recover from the pandemic. Samsung remains a formidable force as one of the world's largest smartphone and chip makers, posting a 23% jump in operating profit last quarter.
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