Streetbeat News

IXP

iShares Global Comm Services ETF

https://www.ishares.com/us/products/239751/ishares-global-telecom-etf

Industry

Asset Management - Global

The fund invests at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. The index is designed to measure the performance of global equities in the communication services sector. The fund is non-diversified.

Open

101.40

Mkt cap

430M

Volume

9.8K

High

101.82

P/E Ratio

32.24

52-wk high

102.50

Low

101.18

Div yield

0.01

52-wk low

73.55

Alphabet's strong Q3 earnings led to a 6% stock surge, boosting its market cap by over $150 billion and pushing the 'Magnificent Seven' tech giants' combined market cap to a record $16.8 trillion. Alphabet's performance positively impacted several tech-heavy ETFs.

Portfolio Pulse from Piero Cingari

October 30, 2024 | 3:38 pm

Google's refusal to allow Enel's JuicePass app on Android Auto may violate EU competition laws, according to a CJEU adviser. Alphabet Inc. was fined €102 million by Italy's antitrust regulator in 2021 for this issue. Google has since worked to resolve the problem, but awaits a final court decision.

Portfolio Pulse from Michael Juliano

September 05, 2024 | 10:27 pm

Meta Platforms, Inc. (NASDAQ:META) is facing a lawsuit from Ethan Zuckerman, a professor at the University of Massachusetts-Amherst, over user control on Facebook. The lawsuit aims to release a browser extension, Unfollow Everything 2.0, which would allow users to unfollow all friends, groups, and pages at once, effectively turning off their newsfeed. Meta has filed a motion to dismiss the suit, calling it baseless. Despite the lawsuit, Meta's stock and related ETFs have seen slight gains.

Portfolio Pulse from Michael Juliano

August 21, 2024 | 7:11 pm

Google has partnered with Energix Renewables to develop 1.5GW of solar projects by 2030, enhancing its renewable energy efforts. This agreement includes electricity and Renewable Energy Credits supply, with Google as a tax equity provider. The partnership strengthens Energix's position in the U.S. renewable energy sector.

Portfolio Pulse from Lekha Gupta

August 21, 2024 | 1:14 pm

Alphabet's Google faces a revived class action lawsuit regarding Chrome users' data privacy, following a U.S. appeals court ruling. The case, initially dismissed, questions whether users consented to data collection. Alphabet's stock saw a slight gain, while ETFs tracking it mostly declined.

Portfolio Pulse from Michael Juliano

August 20, 2024 | 10:31 pm

Trian Fund Management, led by Nelson Peltz, sold a significant portion of its stake in Disney but still retains a smaller position. The fund also made various other trades, including selling shares of Ferguson Plc and Sysco Corp., and buying shares of UHaul, Solventum Corporation, and Rentokil Initial. Disney's stock and related ETFs saw positive movement following the news.

Portfolio Pulse from Michael Juliano

August 15, 2024 | 8:25 pm

Polish billionaire Rafal Brzoska and his wife plan to sue Meta Platforms Inc. (NASDAQ:META) for allegedly featuring fake advertisements with their images on Facebook and Instagram. Despite notifying Meta in early July, the issue remains unresolved. Meta claims it removes false ads when identified and collaborates with local authorities to combat scammers. The lawsuit may be filed in the U.S. if European actions are insufficient. Meta's stock and related ETFs saw gains in mid-day trading.

Portfolio Pulse from Michael Juliano

August 13, 2024 | 4:55 pm

Meta Platforms Inc (NASDAQ:META) is considering a paid version of its AI assistant, Meta AI. This move aligns with competitors like Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG, GOOGL), who charge for advanced AI features. Meta's AI initiatives include a custom AI chip to reduce dependence on Nvidia (NASDAQ:NVDA). Analysts see Meta as undervalued due to its AI and ad potential. Meta's stock has risen 87% in the last year.

Portfolio Pulse from Anusuya Lahiri

May 24, 2024 | 2:21 pm

Alphabet Inc (GOOG, GOOGL) announced layoffs across key teams like Flutter, Dart, Python ahead of its I/O developer conference, aiming to align resources with product priorities. Despite the cuts, Google is still focused on Flutter updates for the I/O conference. The tech sector has seen over 42,324 layoffs in 2024, continuing from nearly 263,000 in 2023, with major companies including Amazon (AMZN), Microsoft (MSFT), Salesforce (CRM), eBay (EBAY), and PayPal (PYPL) announcing significant layoffs. Google's shares gained 56% in the last 12 months, with exposure through IShares Global Comm Services ETF (IXP) and The Communication Services Select Sector SPDR Fund (XLC).

Portfolio Pulse from Anusuya Lahiri

April 30, 2024 | 12:56 pm

Google's CEO Sundar Pichai announced a major restructuring to accelerate AI development, aiming to outpace competitors like Microsoft. The reorganization consolidates all AI teams under DeepMind, focusing on unified AI efforts and introducing a new Platform and Devices team. This move, the largest change at Alphabet since last year's AI unit integration, seeks to enhance product innovation and decision-making. Analysts view Alphabet's AI and cloud investments as key growth drivers, potentially boosting its shares alongside a speculated collaboration with Apple.

Portfolio Pulse from Anusuya Lahiri

April 19, 2024 | 11:07 am

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