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Global Markets: Samsung to unseat rival Apple

By Commodity News Service Canada

July 27 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– Samsung is expected to report earnings of US$54.8 billion in revenue and US$12.6 billion in profit for the second quarter, ending June 30. It would set the world’s No. 1 selling smartphone company on pace to pass its tech sector rival Apple for the first time. Demand for Samsung’s memory chips accounted for US$7.2 in profit, more than half the total.

– The stalemate continues in the United States Congress with the Senate failing to make headway on health-care reform and Democrat party leaders saying they are ready to challenge the Republican party on social issues, such us U.S. President Donald Trump’s ban on transgender people in the military, as part of the Democrat’s strategy for the midterm elections.

– Twitter was expected to show continued improved new user numbers in its quarterly report released Thursday thanks to the so-called Trump bump. With U.S. President Donald Trump becoming well-known for his tweets, Twitter had been showing steady increases in users, helping to reverse its previous trends that had many analysts predicting its demise. The widespread thinking was the trend would continue. However, Twitter reported Thursday that its monthly user base in the U.S. declined two million to 68 million in the second quarter compared to the previous quarter. Its global user numbers were unchanged, although analysts had expected increases. Twitter stock has fallen rapidly, as much as nine per cent in early trading, following the report.

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