FRIDAY, AUGUST 2, 2019 The Boston Globe Business B
TALKING POINTS
CLOUDCOMPUTING Agenda
DYNATRACE STOCK
SOARS ON FIRST DAY
OF TRADING
You might say it was a dynamite debut on the New York Stock Exchange for Waltham’s
Dynatrace. Shares in the Waltham cloud-computing software firm rose 49 percent, to close
at $23.85, on the first day of trading Thursday. The company said its gross proceeds from its
initial public offering totaled $544 million. This was the first IPO for a Massachusetts tech
company in over a year, according to Renaissance Capital. Dynatrace employs about 2,
people, including about 200 at its headquarters. Executives said they plan to use some of
the IPO proceeds to fuel the company’s growth plan, which includes hiring another 100
people in Waltham over the next few years. Private equity firm Thoma Bravo continues to
hold a controlling stake in Dynatrace, after acquiring it in 2014 through the purchase of its
former parent company, Compuware. — JON CHESTOTHEMEPARKS
UNIVERSAL PLANS
MAJOR EXPANSION
IN ORLANDO
The force may be with Disney, but Universal’s empire is
putting up a good fight in the theme park wars. Comcast
Corp.-owned Universal Parks & Resorts on Thursday fired
the latest salvo in a decades-long battle to give
entertainment giant Disney a run for its money,
announcing a major expansion in Orlando that includes
hotels, restaurants, shops, and a new theme park called
Universal’s Epic Universe. The news from Universal comes
just weeks before larger rival Disney opens a giant new
“Star Wars”-themed land at its Florida property. The
addition of Epic Universe will bring Universal Orlando Resort’s total to three major theme
parks and one water park. It already includes Universal Studios Florida, Islands of
Adventure, and Volcano Bay. The new park will be on a larger 750-acre plot a few miles
from the existing resort, according to a news release; Universal will provide transportation
to link all the properties. By comparison, Walt Disney World Resort in nearby Lake Buena
Vista has four theme parks and two water parks. — WASHINGTON POSTAUTOMOTIVE
NISSAN TO FIX NEARLY
200,000 ALTIMAS
Nissan will do a ‘‘service campaign’’ to fix nearly 200,000 Altima mid-size cars because a
suspension part can come loose from the frame due to corrosion. The campaign falls short
of a recall, but the National Highway Traffic Safety Administration is continuing an
investigation into the problem that covers more than 2 million cars. The campaign includes
2013 Altimas in 22 states and Washington, D.C., places that use salt to clear roads in the
winter. Also covered are 2013 and 2014 Altimas in Canada. — ASSOCIATED PRESSMORTGAGES
RATES ARE FLAT
TO SLIGHTLY HIGHER
Long-term mortgage rates were flat to slightly higher this week, hovering around three-year
lows as financial markets anticipated the Federal Reserve’s cut in its benchmark interest
rate for the first time in a decade. The Fed announced the landmark rate cut Wednesday
after a two-day meeting of its policy makers. Mortgage buyer Freddie Mac said Thursday
that the average rate on the key 30-year mortgage was unchanged from last week at 3.
percent. That’s a historically low level for the 30-year rate, which a year ago stood at 4.
percent. The average rate for 15-year, fixed-rate home loans ticked up to 3.20 percent from
3.18 percent last week. — ASSOCIATED PRESSAUTOMOTIVE
BMW PROFIT FELL
29 PERCENT IN
THE 2ND QUARTER
Luxury automaker BMW said Thursday that net profit fell 29 percent to $1.
billion in the second quarter from a year earlier, as profits were reduced by
higher spending on revamping factories and on new technologies such as bat-
tery-only cars and smartphone-based services. BMW spent $1.5 billion on re-
search and development in the quarter and invested $1.3 billion in new plants
to modernize production and prepare for new models. — ASSOCIATED PRESSMANUFACTURING
ACTIVITY AT AN
ALMOST THREE-YEAR
LOW IN JULY
US manufacturing activity deteriorated in July to an almost three-year low, dragged down
by slower production and shaky export markets that help explain the Federal Reserve’s
decision to reduce interest rates on Wednesday.The Institute for Supply Management’s
index eased to 51.2 last month from 51.7 in June, according to data released Thursday.
Figures above 50 signify expansion, and the median estimate in a Bloomberg survey of
economists was for a July reading of 52. Measures of output, factory employment and input
prices all declined during the month. — BLOOMBERG NEWSAUTOMOTIVE
GM’S PROFIT UP
ON SALES OF
PICKUPS AND SUVS
General Motors said Thursday that
higher prices for popular pickup
trucks and SUVs helped overcome
slowing global sales and profit rose
by 1 percent in the second quarter.
The Detroit automaker said it made
$2.42 billion, or $1.66 per share,
from April through June. Adjusting
for restructuring costs, GM made
$1.64 per share, blowing by analyst
estimates of $1.44. Quarterly
revenue fell 2 percent to $36.
billion, but still beat estimates.
Analysts polled by FactSet expected $35.97 billion. Global sales fell 6 percent to 1.94 million
vehicles led by declines in North America and Asia Pacific, Middle East, and Africa. The
company says sales in China were weak, and it expects that to continue through the year. In
the United States, customers paid an average of $41,461 for a GM vehicle during the
quarter, an increase of 2.2 percent as buyers went for loaded pickups and SUVs, according
to the Edmunds.com auto pricing site. — ASSOCIATED PRESSWIRELESS
VERIZON BEATS
ESTIMATES
FOR PROFIT AND
SUBSCRIBER GROWTH
Verizon Communications Inc. exceeded Wall Street estimates for profit and subscriber
growth in the second quarter, easing investor concerns as the company begins the costly
process of launching 5G wireless services. Total wireless subscribers rose by 451,000, which
includes 245,000 new phone customers. The remaining additions were hot spots, smart-
watches, and other connected devices. Earnings, excluding special items, were $1.23 a
share, according to a statement. Analysts expected 349,000 new subscribers and earnings
of $1.20. Verizon faces a potentially different wireless market if T-Mobile US Inc. is able to
complete its $26.5 billion takeover of Sprint Corp. The combination would make for a
three-way race with Verizon, AT&T Inc. and T-Mobile to build and capitalize on new 5G ser-
vice, with Dish Network Corp. entering the field as part of the deal. — BLOOMBERG NEWSE-COMMERCE
JEFF BEZOS’S
EX-WIFE NOW
SECOND-LARGEST
INDIVIDUAL
AMAZON
SHAREHOLDER
MacKenzie Bezos is officially Amazon.com’s second-largest individual
shareholder. About 19.7 million shares are registered in 49-year-old
MacKenzie’s name, according to regulatory filings detailing stock sales by
her ex-husband, Jeff Bezos. The transfer is a rare disclosure for a divorce
whose financial terms have otherwise been shielded from the public. A
King County, Wash., judge had signed an order formalizing the
separation on July 5. Jeff Bezos sold 968,148 shares for about $1.8 billion
from July 29 to July 31 as part of his stock-sale plan, the filings show.
MacKenzie’s 4 percent holding is worth $37 billion, enough to place her
23rd on the Bloomberg Billionaires Index, a ranking of the world’s 500
richest people. — BLOOMBERG NEWSSaturday,Aug.
POTLUCK
Lunch with
professionals
Dine in the park at this picnic thrown by
the Massachusetts chapter of the
Association for Women In Science.
Attendees are encouraged but not
required to bring food to share. Saturday,
noon to 4 p.m., Larz Anderson Park,
Goddard Avenue and Newton Street,
Brookline. Free with registration. Register
online or go to the business agenda at
bostonglobe.com.CLASS
Excel at Excel
Learn about the spreadsheet program
Microsoft Excel at this training from
General Assembly. The basics of the
application, including calculation,
formatting, and charts, will be covered.
Saturday, 10 a.m. to 4 p.m., General
Assembly Boston, 125 Summer St., 13th
floor, Boston. $250. Register online or go
to the business agenda at
bostonglobe.com.Sunday,Aug.
SEMINAR
Finding your
dream home
Explore the real estate market over brews
at a home buying seminar from Keller
Williams realty. Food and drinks will be
available for purchase. Sunday, 11:
a.m. to 1 p.m., Dorchester Brewing
Company, 1250 Massachusetts Ave.,
Boston. Free. Register online or go to the
business agenda at bostonglobe.com.Eventsofnote?E-mailusat
[email protected]