Uber losses; Broadcom strikes a deal; Huawei's OS

1. Uber's miss: Mounting losses and slowing revenue growth at Uber are scaring investors. The ride-sharing company said after markets closed Thursday that it lost $5.2 billion in the three months ending in June, its largest quarterly loss ever.

Where U.S. stocks are heading Dow Futures   Nasdaq Futures   S&P Futures -116.00   -54.50   -15.00 -0.44%   -0.70%   -0.51%

World Markets Japan   China   U.K. Nikkei 225   Shanghai Composite   FTSE 100 +91.47   -19.80   -18.73 20,684.82   2,774.75   7,267.17 +0.44%   -0.71%   -0.26%

Biggest Winners Symantec Corp +1.40%   CVS Health Corp +0.76%   Newmont Goldcorp Corp +0.31%   Johnson & Johnson +0.10% Biggest Losers Nektar Therapeutics -31.86%   DXC Technology Co -18.68%   TechnipFMC PLC -3.09%   Linde PLC -1.88%

News: What you need to know about the markets     Uber losses; Broadcom strikes a deal; Huawei's OS By Julia Horowitz, CNN Business   1. Uber's miss: Mounting losses and slowing revenue growth at Uber are scaring investors.   The ride-sharing company said after markets closed Thursday that it lost $5.2 billion in the three months ending in June, its largest quarterly loss ever.   The loss was fueled by $3.9 billion in stock-based compensation related to its public offering. But even without those charges, the company still lost about $1.3 billion, a roughly 50% increase from the previous year.   Uber is making big investments in freight shipping and meal delivery. It's also offering discounts for its core business to attract new customers and compete with rivals like Lyft.   Its revenue was $3.1 billion during the quarter, a 14% increase from the year prior. That's hardly the rocketing growth that investors typically expect from technology companies that just went public.   Shares in Uber are down more than 7% in premarket trading.   2. Broadcom deal: Chipmaker Broadcom and cybersecurity specialist Symantec have reached a deal.   Broadcom will buy Symantec's enterprise security business for $10.7 billion in cash, the companies said Thursday. The acquisition would help Broadcom diversify beyond its main memory chip business.   The proposed acquisition is still subject to regulatory approval. That's been a sticking point for Broadcom in the past.   The company's $117 billion bid for rival Qualcomm was blocked by President Donald Trump in 2018 over national security concerns.   Broadcom shares are down slightly in premarket trading. Symantec stock is up about 1%. It surged earlier in the week after the Wall Street Journal reported that the companies were close to a deal.   3. Huawei's OS: China's Huawei has released its own operating system months after it was placed on a US blacklist that barred American firms from selling software to the company.   The system, known as Harmony OS or Hongmeng, could serve as an alternative to Google's Android, which Huawei has used in its smartphones, and the Microsoft Windows operating system it deploys on laptops and tablets.   The announcement comes after Bloomberg reported that the White House plans to delay a decision about granting licenses to US companies that sell components to Huawei as trade tensions continue to escalate.   4. Markets stutter: With Huawei grabbing new headlines, global stocks aren't shaking their trade anxiety just yet.   US stock futures point to losses when markets open. The Dow is set to shed 110 points, or 0.4%. The S&P 500 could drop 0.5%, while the Nasdaq is tracking down 0.6%.   Stocks in Asia ended mixed. Hong Kong's Hang Seng finished 0.6% lower, while the Shanghai Composite closed down 0.7%. South Korea's Kospi rose 0.9%, and Japan's Nikkei gained 0.4%.   European markets are singing a similar tune. Britain's FTSE 100 shed 0.1% in early trading, while Germany's DAX rose 0.1%.   The Dow closed up 1.4% on Thursday. The S&P 500 added 1.9%, and the Nasdaq gained 2.2%, erasing losses sustained earlier in the week.   Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

Coming this week:     Friday — China inflation data; Japan GDP; US Producer Price Index

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