Google's top exec reveals why he's been out of the spotlight lately, and Walmart plans to go it alone on safety inspections.
The Dow Industrials rallied 123 points yesterday, closing at another record high. Incredibly, the Dow has now gained ground for 18 straight Tuesdays. The S&P 500 rose 16 and the Nasdaq gained 23 points.
Google (GOOG) CEO Larry Page is suffering from a rare and chronic medical condition, a paralysis of both vocal chords. He says the condition is improving and he continues to run the company, but he's limited in how much and how loudly he can talk. He made the health disclosure just as key conference for Google's software developers gets underway in San Francisco. Bloomberg reports the company is about to launch a new Spotify-like, subscription-based music streaming service.
Walmart (WMT) says it will go it alone and not sign on to an international safety plan for factories in Bangladesh. The company says it will inspect all of the 279 factories it uses there, but critics say Walmart's proposal falls short of the legally-binding plan that many European retailers have agreed to support. Gap (GPS) says it is still considering the global plan.
T-Mobile (TMUS) has reduced the discount it offers on the iPhone 5. It had been selling the smartphone for $100 less than other carriers; that discount is now $50.
Farm equipment maker Deere (DE) beat earnings estimates, but the company says its sales for the rest of year could be under pressure.
After the bell we'll hear from tech industry leader Cisco Systems (CSCO).
Yahoo (YHOO) is planning a marketing blitz to attract a younger audience. The company's chief financial officer told a technology conference yesterday that Yahoo has an aging demographic, and that it has to become cool again.
And Actavis (ACT) has reportedly received and rejected a takeover bid from Mylan (MYL). Reuters says the offer values the generic drug maker at more than $15 billion.
-Produced by Drew Trachtenberg
6 Ways Google Glass Will Change the Way You Shop
Market Minute: Google CEO Larry Page Discloses Health Condition
We don't know which, if any, will be available for Glass. But assuming one of these apps gets ported over to the new hardware, you'll be able to get price comparisons just by picking up a product and looking at the barcode.
And it doesn't end there. A couple of those apps -- including Google's own shopping app -- are able to recognize the covers of books, DVDs, CDs and games, which means you don't even need to find and focus on the barcode. So, for example, if you find a book on the shelf and want to see if it's cheaper online, you could just look at it, whisper a command, and immediately have a bunch of price comparisons floating in your field of vision. And you'd also be able to call up reviews, too, so you won't have to rely on those selectively quoted blurbs that publishers choose.
Want to buy those jeans, but aren't sure if you're close to the limit of your monthly clothes budget? Several personal finance tools allow you to keep track of your budget, and this strikes us as a perfect use for Glass. Imagine if you could just say, "Okay, Glass, bring up Mint and show me how much I've spent on clothes this month."
And sometimes it's not just a matter of budgets -- you also want to make sure you don't overdraw your account or spend so much that you don't have enough left over for food. If your online banking app becomes compatible with Glass, perhaps you could see your checking account balance floating before your eyes with equal ease.
People tend to behave better when they know they're on video, and if you're wearing Glass, the person behind the customer service desk has to assume they're being filmed.
Hopefully, that doesn't lead to people harassing put-upon customer service reps by demanding preferential treatment, lest they post videos of their bad experiences on YouTube. But insofar as it keeps companies honest and helps ensure they follow their own stated policies, perhaps the knowledge that employees are on Google's candid camera can be a good thing.
But the contribution Glass could make to customer service goes beyond just filming disputes: Customer service technology firm Genesys recently floated a couple of scenarios in a blog post. A customer trying to assemble a cable box, for instance, could beam his or her field of vision to technical support staff, who would then be able to see the problem and direct the customer on what to do next. They also suggest that a hotel guest out and about with Glass could send live video to a concierge, who could then identify what part of town he was in, and recommend restaurants and attractions on the block.
Google+ hasn't exactly taken off like the company might have hoped, but the social network did give us one great feature: live group video chats, known as Hangouts. While they usually consist of an array of faces, Hangouts on Google Glass are turned inside-out, allowing you to instead share your point of view with the other participants.
In demos of the feature, Google used it to dramatic effect, showing a hangout with a group of skydivers as they jumped out of a plane. But we're envisioning a more mundane application: Trying on clothes.
If your friends couldn't join you on a shopping expedition, you can put on that dress, initiate a Hangout, look in the mirror and then get live feedback from a panel of friends. We see this being a particularly potent tool for personal shoppers who can't always be physically present with their clients.
One application of Glass is having your grocery list right there on a heads-up display, which means you don't have to look down at a list on your smartphone or on a piece of paper. But no one's going to spend more than a thousand bucks on Google Glass just to replace a sticky note on their shopping cart.
Fortunately, the most recent demos of the product have touted the inclusion of Evernote. The popular note-taking app allows you to put together to-do lists that include voice memos and photographs, and they can also be shared across multiple users. We imagine you could go to the grocery store with your wife and split up to divide and conquer; as each of you picks up items, you can tell Glass to check it off the list, and the other person will see that it's in the cart.
There are other ways it could help you coordinate your grocery shopping expedition. Let's say your wife sent you to the store to pick up pancake mix, but you don't know which kind she wants you to get. Instead of calling her and reading off every brand and variety in front of you, you can just initiate a video call and look at the pancake section; she'll see what you see, and be able to tell you which one to get.
The grocery store applications don't end there.
Perhaps you get to the grocery store and see they're having a big sale on chicken thighs. Being the frugal sort, you decide to pick some up, but you're not sure what to do with them.
Tell Glass to run a Google search for recipes featuring chicken thighs. Scroll through, pick one, then copy the ingredient list to your shopping list. Now you can get all your ingredients.
Once you get home, you can have the recipe right in your eye when you need to reference it, with no need to have a laptop or cookbook taking up valuable counter space or getting sauce spilled on it. And if you don't know the proper technique for deboning those chicken thighs, you can cue up an instructional video on YouTube without ever having to touch a computer with your slimy chicken hands.