(Bloomberg) -- Sony Corp. is planning a digital event to showcase games for its next-generation PlayStation 5 console that may take place as early as next week, according to people with direct knowledge of the matter.The virtual event could be held June 3, though some people also cautioned that plans have been in flux and that the date may change. Other PlayStation 5 events may follow in the coming weeks and months, and Sony is not expected to reveal every essential detail on the console during its first presentation.Read more: Sony Is Struggling With PlayStation 5 Price Due to Costly PartsA Sony spokesperson declined to comment. The company’s shares were largely unchanged in early Thursday trading in Tokyo.The Japanese tech giant has only let out a trickle of information on the PlayStation 5 so far, which the company says remains on track for release this holiday season despite the Covid-19 pandemic. Chief Executive Officer Kenichiro Yoshida said earlier this month that Sony “will soon be announcing a strong lineup of PS5 games.”June is traditionally highlighted by the biggest games industry conference, E3 in Los Angeles, but that was canceled this year due to the spread of the virus. In response, Sony and many game publishers are refashioning their promotional plans around streamed online presentations.Read more: Sony Is Said to Limit PlayStation 5 Output in Its First YearWhile only a small circle within Sony are privy to the appearance of the PS5 console, the controller has been shared with outside developers and, fearing it wouldn’t be able to control leaks, the company made it public in early April.Fans have been eager to hear about the lineup of video games that will launch alongside the console and later.Microsoft Corp., Sony’s most direct rival in the console wars, has put out regular streams and updates about the upcoming Xbox Series X, which is also planned for release this fall.(Updates with chart and share action in third paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Dow Jones futures pared gains as China OK'd a national security law for Hong Kong, a new worry for the coronavirus stock market rally.

Microsoft (MSFT) is currently negotiating an investment of up to $2 billion in Reliance Industries’ digital unit Jio Platforms, Live Mint reports, citing two people aware of the discussions.Jio Platforms is an Indian telecommunications company that operates a national LTE network with coverage across all 22 telecom circles with more than 388 million subscribers.“Microsoft has been in discussions with several players in the digital payments services space. With Reliance, Microsoft is interested in buying more than a 2.5% stake in Jio Platforms,” Live Mint writes. However, there is no guarantee that the investment will go through, one of the sources added.Only last week KKR & Co. (KKR) announced that it will inject $1.5 billion in Jio for a 2.32% stake, the company’s biggest investment in Asia. The deal valued Jio Platforms at an equity value of about $65 billion.“Few companies have the potential to transform a country’s digital ecosystem in the way that Jio Platforms is doing in India, and potentially worldwide,” said Henry Kravis, Co-Founder and Co-CEO of KKR at the time.This marked the 5th investment for Jio over the past month by large corporates, including Silverlake and Facebook (FB), taking the total investment to over $10 billion. Indeed, Facebook poured $5.7 billion into Jio in April for a 9.99% stake, and the pair have since launched the JioMart online grocery service across cities in India.In this case, Microsoft and Reliance Industries are already connected- the two struck a 10-year cloud-related deal back in 2019.“The combination of Jio’s leading connectivity and digital solutions with Azure, Azure AI and Office 365 will bring powerful tools and platforms for compute, storage, productivity and more to millions of businesses in the country” stated MSFT CEO Satya Nadella.Shares in MSFT are currently trading up 15% year-to-date, and analysts believe 19% further upside potential lies ahead. In the last three months, the stock has received 22 buy ratings and just 1 hold rating, giving it a Strong Buy consensus. (See Microsoft stock analysis on TipRanks).“While MSFT will not be immune to macro demand trends, on the whole the company’s broad product portfolio is poised to benefit from accelerating cloud demand” cheered RBC Capital’s Alex Zukin as he bumped up his price target from $196 to $200 on May 17.Related News: KKR Invests $1.5 Billion in Reliance’s Jio Platforms In Biggest Deal In Asia Facebook-Backed Reliance Launches Powerful Online Grocery Service In India Microsoft Buys Metaswitch For Cloud-Based Telecoms Move, 5G Expansion More recent articles from Smarter Analyst: * Billionaire Ackman Exits Berkshire Hathaway, Blackstone To Fund Opportunities * HBO Max Launches, But Not Yet Available on Amazon, Roku Platforms * Apple Snaps Up AI Startup Inductiv, As Analysts Boost PTs On Store Reopenings * Boeing Cuts 6,770 Jobs In U.S.; CFRA Upgrades Stock To Buy

A selloff in technology stocks dragged on the S&P 500 and Nasdaq on Wednesday, with investors also cautious about brewing U.S.-China tensions at a time when policymakers are attempting to revive the global economy from a coronavirus-driven slump. Index heavyweights Amazon.com, Microsoft Corp and Facebook Inc, which have led a recent rally, were down more than 2%, while healthcare and technology - outperformers in the coronavirus-led market slump - were among the S&P 500 sectors in the red.

After a multiyear 1,500% run, Chemed joins Microsoft, Adobe and ServiceNow on this list of breakout stocks, and makes the IBD Long-Term Leaders watchlist.

Brown Advisory recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Large-Cap Growth Fund posted a return of -13.05% for the quarter, outperforming its benchmark, the Russell 1000 Growth Index which returned -14.10% in the same quarter. You should check out Brown Advisory’s top 5 stock picks for […]

Secretary of State Mike Pompeo declared Hong Kong to be no longer autonomous from China Wednesday, a move that further increases U.S.-China tensions and could pave the way for changes to U.S. policy toward Hong Kong that could have massive ramifications for the Hong Kong, Chinese and American economies.

The Dow and S&P 500 rose on Wednesday, powered by banks stocks, as optimism for an economic recovery as lockdowns continued to ease overshadowed worries of simmering U.S.-China tensions. Declines in technology shares limited the advance, with the Nasdaq underperforming the other major indexes. In contrast, heavyweights Amazon.com, Microsoft Corp and Facebook Inc, which have led the recent rally, were down.

Sony Corp. (NYSE: SNE) could be holding a conference detailing news about the PlayStation 5 console as well as details surrounding the system's game lineup, Bloomberg reported.The digital event could happen as early as next week, with hints suggesting June 3. However, the date could change depending on coronavirus (COVID-19) threats.While the event sounds promising for PlayStation fans, it's unlikely that every detail of the next-gen console will be revealed. Sony has slowly trickled out information of the console despite its approaching holiday season release date. Even as the months pass, the Japanese tech giant has continued to remain secretive.Microsoft Corp. (NASDAQ: MSFT) has done the complete opposite with the Xbox Series X with its choice to pour out information detailing its next-gen system through regular streams and updates.While the coronavirus ignited worries about the consoles' holiday releases, both companies have confirmed that everything is on schedule.Related Links:'Call Of Duty: Modern Warfare' Is The Best-Selling Game Of 2020 So FarElectronic Arts Analysts See Stay-At-Home Strength, Possible Game Delays After Q4 ReportSee more from Benzinga * 'Call Of Duty: Modern Warfare' Is The Best-Selling Game Of 2020 So Far * FaZe Clan's Ewok Partners With HyperX As Brand Ambassador * With NHL Season On Ice, League Launches Esports Challenge: 'Extremely Fun To Watch'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Both companies’ stocks were valued at $1.378 trillion as of the close of trading on Wednesday. A pair of bullish research notes helped Apple to catch up.

(Bloomberg) -- Adobe Inc., the maker of Photoshop, said some of its applications were knocked offline Wednesday by “major” technical issues.There were four major issues, down from 13 earlier, and 12 minor issues affecting Creative Cloud, Experience Cloud, Adobe Services and the Adobe Experience Platform as of 2 p.m. in New York, the San Jose, California-based company said. Adobe’s engineers were also trying to resolve other potential issues in progress.“We’re working urgently to get back online as soon as possible,” Adobe told users in a tweet. A spokesman said the technical issues aren’t security related.Major public-cloud vendors Amazon.com Inc., Microsoft Corp. and Alphabet Inc.’s Google reported no service issues, so the problems appear to be isolated with the software company. Adobe’s shares declined 1.6% to $370.76. The stock gained 14% this year through Tuesday’s close.Millions of people rely on Adobe’s creative and document apps. The company said its Creative Cloud apps have been downloaded 376 million times, and users opened 250 million PDFs with an Adobe program in the last year. Many businesses use Adobe’s marketing, advertising and analytics tools, which were disrupted by the technical problems.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

The euro retreated from near two-month highs and equity markets wavered on Wednesday even as the European Union unveiled a 750 billion euro ($823 billion) recovery fund that helped offset concerns about unrest in Hong Kong over Beijing's proposed security laws. U.S. Treasury yields also retreated from gains on the European Commission's proposed stimulus plan to bolster economies ravaged by the coronavirus pandemic boosted risk appetite and reduced demand for safe-haven bonds and gold.

The Dow Jones Industrial Average has been a bright spot in today's stock market action, holding its gains from yesterday's bullish run.

Microsoft last updated Windows 10 in November, but it is scheduled to release a new PC operating system this fall.

(Bloomberg) -- Workday Inc. reported quarterly revenue that topped $1 billion for the first time, beating analyst estimates and continuing growth for the maker of human resources software despite the economic challenges of the pandemic. Shares rose more than 7% in extended trading.Revenue increased 23% to $1.02 billion in the fiscal first quarter, the Pleasanton, California-based company said Wednesday in a statement. On average, analysts expected $994 million, according to data compiled by Bloomberg. After some expenses, profit was 44 cents a share, compared with analyst projections of 47 cents.Workday expects subscription revenue for the fiscal year of $3.67 billion to $3.69 billion, down from as much as $3.77 billion. In the second quarter, subscription revenue will be as much as $915 million, the company said.Chief Executive Officer Aneel Bhusri has targeted a goal of $10 billion in annual revenue, from $3.6 billion the past fiscal year. The company continues to expand its human resources, accounting and planning software to offer the capabilities of established rivals Oracle Corp. and SAP SE, but delivered through the cloud. Before Workday reported results, some analysts were concerned that corporate customers aren’t interested in pursuing large software deals and complicated implementations during the Covid-19 pandemic.“The cloud is playing a critical role in today’s climate, with organizations leaning on Workday to pivot -- whether it’s helping employees learn virtually, closing books remotely, or scenario planning to determine what path to take,” Bhusri said in the statement.Workday also announced two partnerships Wednesday. One, with Microsoft Corp., will run Workday’s Adaptive Planning on the Azure cloud. Microsoft’s finance team will start using the product for its internal needs and both companies will collaborate on integrating their software products for mutual customers. The second partnership, with Salesforce.com Inc., aims to help organizations safely return to their offices in the wake of the Covid-19 pandemic.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Microsoft (MSFT) and Workday Inc. (WDAY) today announced a strategic partnership prioritizing enterprise planning in the cloud and expanding the business solutions customers can use to better optimize their everyday work. Through this partnership, Workday customers will also be able to run Workday Adaptive Planning on the Microsoft Azure cloud.

The S&P 500 edged higher in choppy trading on Wednesday as optimism over a pick up in business activity helped offset worries over simmering U.S.-China tensions, although gains were capped by losses in technology stocks. Bank stocks, which typically track improvements in the economic outlook, provided the biggest boost to the benchmark index, sending it past the psychologically important mark of 3,000 points in intraday trading for the second day. In contrast, heavyweights Amazon.com, Microsoft Corp and Facebook Inc, which have led a recent rally, were down between 1% and 2%, while healthcare and technology - outperformers in the coronavirus-led market slump - were among the S&P 500 sectors in the red.

Yahoo Finance catches up with HP's CEO Enrique Lores fresh off its second fiscal quarter earnings report.

When Docker sold off its enterprise division to Mirantis last fall, that didn't mark the end of the company. In fact, Docker still exists and has refocused as a cloud-native developer tools vendor. Today it announced an expanded partnership with Microsoft around simplifying running Docker containers in Azure.

A selloff in technology stocks dragged on the S&P 500 and Nasdaq on Wednesday, with investors also cautious about brewing U.S.-China tensions at a time when policymakers are attempting to revive the global economy from a coronavirus-driven slump. Amazon.com, Microsoft Corp and Facebook Inc, which have led a recent rally, weighed on the tech-heavy Nasdaq, while healthcare and technology stocks - which outperformed in the coronavirus-led market slump - were among the S&P 500 sector indexes in the red.