Tag: Plan

14
Oct
2020
Posted in technology

Wipro shares fall nearly 7% as organic growth, revival plan disappoint

By Sethuraman N R

BENGALURU (Reuters) – Shares of Wipro Ltd fell 6.8% on Wednesday, a day after the software services firm posted quarterly organic revenue growth that was lower than peers and disappointed some investors with its plans to revive growth.

Chief Executive Officer Thierry Delaporte, who took the helm in July, said on Tuesday Wipro would focus more on large deals and “prioritize the markets and sectors that are relevant,” without giving more details.

The commentary let down some investors who were hoping for more concrete steps from a company that has underperformed its rivals in the recent past.

“The strategic roadmap from the CEO to revive growth was not as strong as it was expected to be,” IDBI Capital research analyst Urmil Shah said.

Wipro also saw a decline in revenue from its key markets of the Americas and Europe in the second quarter as clients cut spending, but some new deals helped to keep overall revenue largely flat at 151.15 billion rupees ($2.06 billion).

“Organic growth was down 4.5% year-on-year, lower than Accenture Plc (down 3%) and Tata Consultancy Services Ltd (down 3.2%),” AMP analysts said.

Quarterly profit also fell and missed analysts’ estimates.

Wipro said it expects revenue at its IT services business to be in the range of $2.02 billion to $2.06 billion in the December quarter, lower than the $2.09 billion it earned a year earlier.

The company approved a 95 billion rupees share buyback at 400 rupees per share.

“While the quantum of buyback was largely in line with our expectations, the buyback price was a disappointment,” ICICI Securities said in a note.

Wipro shares were set for their biggest one-day percentage loss since April in a weak broader market, while rival Infosys Ltd was down 0.2% ahead of quarterly results later

09
Oct
2020
Posted in technology

Moderna Doesn’t Plan To Enforce Coronavirus Vaccine Patents During Pandemic

Drugmakers live and die by the exclusivity provided by patents on their medications. Generic competition or even a branded competitor can substantially cut a company’s market share. But Moderna (NASDAQ:MRNA) is putting society ahead of its bottom line. The biotech announced on Thursday that it won’t enforce patents for its coronavirus vaccine during the COVID-19 pandemic.

The company noted: “We feel a special obligation under the current circumstances to use our resources to bring this pandemic to an end as quickly as possible. Accordingly, while the pandemic continues, Moderna will not enforce our COVID-19 related patents against those making vaccines intended to combat the pandemic.”

Moderna has patents on its base technology, which allows for the expression of protein-based vaccines in patients’ cells through the use of mRNA. The company also has patents on the delivery of mRNA-based vaccines using its lipid nanoparticles technology.

Investors shrugged off the announcement, with shares closing up 0.8% for the day. That might be because Moderna is in a no-win situation. If it did actually try to enforce patents to keep other drugmakers from launching competing vaccines, the biotech would be seen as a bully given the unprecedented need. At least by saying it won’t enforce the patents, Moderna gets a public relations boost.

The company could even make a little money off the situation. Moderna said it’s willing to license its intellectual property for coronavirus vaccines in the post-pandemic period. Competitors worried about a patent fight might agree to pay for a license to reduce their risk.

This article originally appeared in the Motley Fool.

Brian Orelli, PhD and The Motley Fool have no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Nine vaccine candidates are in last-stage trials Nine vaccine candidates are in last-stage trials Photo: Russian Direct Investment Fund / Handout

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06
Oct
2020
Posted in technology

iHuman Finalizes $84 Million IPO Plan

iHuman (IH) intends to raise $84 million from the sale of ADSs representing underlying Class A stock in an IPO, according to an amended registration statement.

Beijing, China-based iHuman was founded to create a subscription and advertising supported online service that provides the ability for young children to learn languages, math science and culture in a fun environment.

Management says it is the number one provider of online childhood edutainment in China, according to a Frost & Sullivan report that it commissioned and paid for.

Management is headed by founder, and Chairman Michael Yufeng Chi, who was previously founder of Beijing Jinhongen Co. and Perfect World Group, a ‘global entertainment company focusing on original content creation and technology.’

Below is a brief overview video of iHuman:

Source: iHuman Chinese

The company’s primary content offerings include:

  • Languages – Chinese, Pinyin, English
  • Math
  • Culture
  • STEM courses

iHuman has received at least $53 million from investors including Academy Management (Michael Yufeng Chi), HPF Fusion, Lei Hong DP and Tianjin Share Xinghan Enterprise Management Consulting.

Customer/User Acquisition

The company markets its offering through online apps included in major mobile app stores such the Apple App Store and Google Play Store.

Management plans to market its system via social media, Internet video and live streaming promotional campaigns.

The firm will cross-sell its products to encourage parents and users to try its other applications to drive engagement and spending.

Sales and Marketing expenses as a percentage of total revenue have been uneven as revenues have increased.

The Sales and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Sales and Marketing spend, rose to 3.2x in the most recent reporting period.

According to a 2020 market research report by Mordor Intelligence, the global market for edutainment is

05
Oct
2020
Posted in technology

Headspace Co-Founder Andy Puddicombe Has a Simple Plan to Help Your Team Avoid Burnout

If there is a tech founder more qualified than Andy Puddicombe to help those of us who might be struggling to hold it all together over the last six months, I’m not sure who it is. Puddicombe is a former Buddhist monk who started Headspace, a meditation and mindfulness app, with co-founder Rich Pierson 10 years ago.

We’ll get to that in a minute, but let’s be honest, the last six months have been rough. It’s been rough for people trying to figure out how to balance working from home with all the other things that happen at home. Right now, in many cases, that includes things we’ve never experienced before, like running a virtual school. 

If you haven’t tried to work while making sure four different elementary-age students make it on the right Zoom class, I promise you, it’s rough. I don’t want to speak for anyone else, but I’ll just say that we can use all the help finding some tranquility that we can get.

I had a chance to talk with Puddicombe for my podcast (you can listen to the full interview on Apple Podcasts or Spotify), and it was easily one of my favorite conversations so far. We spoke about his company’s partnership with Microsoft that allows users of Microsoft Teams to access Headspace meditations during a new feature known as the virtual commute.

“It’s great to see meditation and mindfulness reach more people,” says Puddicombe, “but it’s also a reflection that people are really struggling.” The key to changing that, he suggests, might just be to do nothing more often.

Well, to be fair, meditation isn’t doing nothing. It’s about being mindful, which means setting aside all the things on our to-do list for a few minutes to take a deep breath, and spend some

01
Oct
2020
Posted in technology

AI investment increased during the pandemic, and many business plan to do more, Gartner found

A quarter of IT professionals increased AI investment levels due to COVID-19, 42% kept it at the same level, but 75% plan to continue or begin new AI projects in the next 6-9 months.

AI (Artificial Intelligence) concept. Electronic circuit. Communication network.

Image: Getty Images/iStockphoto

As far as enterprise artificial intelligence projects are concerned, the COVID-19 pandemic was just a minor bump in the road, Gartner found: 24% of business and IT professionals surveyed said they increased AI investment during the pandemic, and 42% kept investment at the same level.

More about artificial intelligence

Driving current AI investment has been customer experience and retention, revenue growth, and cost optimization, Gartner found. Those areas of focus are likely to continue as new projects are initiated in the post-pandemic business world, which Gartner said will be rich with AI investment.

Seventy-five percent of respondents said that they plan to continue current AI initiatives or invest in new ones over the next six to nine months, and 79% said their organizations were currently exploring or piloting AI projects. Only 21% said that their AI projects were in production, leaving a lot of room for explosive AI growth as the business world recovers from COVID-19.

SEE: Natural language processing: A cheat sheet (TechRepublic)

“Enterprise investment in AI has continued unabated despite the crisis,” said Gartner’s distinguished research vice president, Frances Karamouzis.

Gartner also found that AI talent, often cited as a major reason for organizations not launching AI or machine learning projects, may not be as much of a concern as people think.

“The biggest misconception in the journey to successfully scaling AI is the search for ‘unicorns,’ or the perfect combination of AI, business and IT skills all present in a single resource. Since this is impossible to fulfill, focus instead on bringing together a balanced combination of such skills to