Company purchasing solar energy
Facebook (FB) recently secured a multiyear renewable energy supply deal in Singapore. The company has signed Sembcorp Industries to a 20-year clean energy supply contract to power its Singapore operations. Sembcorp will supply Facebook’s electricity needs using energy generated from rooftop solar panels.
Facebook is spending $1.0 billion to put up its first Asian data center in Singapore, adding to its growing capex as it works to expand its capacity to meet growing data storage needs. The company hosts more than 6.0 billion users across its various digital platforms, including WhatsApp, which boasts 1.5 billion monthly active users.
$3.5 billion spent on capex
Facebook’s capex was $3.5 billion in the second quarter. Capex was $5.5 billion at Alphabet (GOOGL) and $227 million and Baidu (BIDU) in the second quarter. Twitter’s (TWTR) capex was $194 million in the second quarter.
Facebook is one of the major global technology companies that’s investing heavily in clean energy. Google said that its renewable capacity matched its worldwide energy consumption last year. The company continues to invest in clean energy and has recently entered a ten-year deal to purchase 190 megawatts of renewable energy generated from wind farms to power its data center in Finland.
Amazon’s cloud unit achieves 50% renewable energy usage
Apple, Microsoft, and Amazon (AMZN) are other technology companies making significant renewable energy investments, partly to reduce their carbon footprints and partly to gain more control of their costs. Amazon has said that its cloud computing division achieved 50% renewable energy usage early this year. The company aims to power its operations with 100% renewable power.
Facebook posted a $5.1 billion net profit in the second quarter.
Since losing ~1 million subscribers in the second quarter, Twitter (TWTR) has stepped up its efforts to make its platform more attractive.
Monster Beverage (MNST) stock was down 1.6% as of 2:47 PM EDT on March 20.
Earlier today, the second-largest US automaker by 2018 sales volume, Ford Motor Company (F), revealed its plan to invest $850 million in its Flat Rock assembly plant through 2023.
Mizuho downgraded Yum! Brands (YUM) from “neutral” to “underperform” while keeping its 12-month price unchanged at $84, which represents a fall of 15.4% from its March 19 closing price of $99.20.
According to Verizon, its mobile 5G plans will cost $10 more than its current 4G plans.
As of March 19, Dunkin’ Brands (DNKN) was trading at $71.55, which represents a rise of 3.9% since the announcement of its fourth-quarter earnings on February 7.
Suncor Energy's shareholder returns have grown consistently over the past few years. The company hasn't forgotten its commitment to growth.