TOP OF MIND

Bloom off the rose for Xiaomi? China's hot smartphone company—the world's highest valued startup—was hoping to sell 100 million mobile phones this year. It's pretty clear that won't happen. One of its most aggressive and surprising rivals, telecommunications equipment company Huawei.

TRENDING

Windows 10 will be big. Bing will be profitable. Microsoft CEO Satya Nadella accentuated the positive in the face of a $3.2 billion loss tied to the ill-fated Nokia acquisition.

Is Apple held to a higher standard? The company beat expectations, but apparently not enough. We still don't know exactly how many Apple Watches it sold, but Tim Cook assures us they were better than expected.

Yahoo's mobile story looks better, and related services accounted for about 22% of the company's ad-supported revenue during the second quarter. But investors are fussing about costs and the potential tax bill for the Alibaba stake spinoff.

Good Q2 news for GoPro. It was profitable. Sales surged 72%, buoyed by consumer enthusiasm in Europe and Asia.

IBM stockholders expressed their displeasure over its financial report on Monday by dragging the stock price down nearly 6% on Tuesday.

EMC's profit slips. The storage technology giant reported its latest quarter this morning. It managed a 2% revenue increase, but earnings were off 11%. Look for more analysis on Fortune.com. Meanwhile, one thing to know is that the company has reduced its outlook for the year.

THE DOWNLOAD

Online shopping upstart Jet.com takes off to big hopes and big skepticism

Diapers.com founder Marc Lore is betting that he can build a new e-commerce powerhouse in the Amazon era. Fortune's Leena Rao reports.

After $200 million in funding, and reaching a nine-digit valuation, Jet.com finally opened for business on Tuesday.

Jet is hoping to take on brick and mortar warehouse clubs like Sam's Club and Costco while also competing against Amazon’s bulk products business. For a $50 annual membership, Jet members can buy diapers, cleaning supplies, sporting goods and more, promising prices 10% to 15% below the lowest prices online. Jet is premiering with 10 million products across all categories.

At Fortune’s Brainstorm Tech conference last week, Lore said—unconvincingly—that Jet isn’t gunning for his former employer Amazon, which bought Diapers.com's parent, Quidsi, five years ago for $550 million. Part of what makes Jet different from Amazon and others is its dynamic pricing–meaning the price of items changes depending on what shoppers buy.

Read more about how Jet.com plans to differentiate.

STARTUP SCUTTLEBUTT

More money for Flipboard? The developer's app, which lets someone create a personal magazine, is said to be coveted by Google, Twitter and Yahoo. Now, it looks like the company is raising another $50 million, reports TechCrunch. The tally so far: $160 million.

This upstart speeds software development. Apprenda, which helps businesses write applications more quickly, has closed $24 million in fresh funding led by New Enterprise Associates.

Meet Sigfox, the French startup launching a low-cost Internet of things platform.

Let's join forces. Sysomos and Expion, two fast-growing social intelligence and marketing companies, are merging.

The brains behind Costco's water conservation strategy come from Apana, which makes sensors and software for metering consumption.

Are you immune? British security startup Darktrace, fronted by a CEO previously with Quest and Verity, uses algorithms to detect potential network threats. The company, which counts BT Group as a customer, just closed a $22.5 million Series B round from Summit Partners.

Big data processing, in the cloud. Cazena sells services for running business analytics initiatives using cloud servers. The startup, led by a former Neteeza executive, has raised another $20 million led by Formation 8 and including current backers Andreessen Horowitz and North Bridge Venture Partners.

ALSO WORTH SHARING

The FCC approved AT&T's takeover of DirecTV, provided it meets these conditions regarding the new net neutrality rules.

Another blow for consumer privacy. LifeLock, which claims to guard personal information from exposure, is being investigated by the Federal Trade Commission for shoddy security practices.

Meanwhile, Facebook just lost its attempt to keep New York prosecutors from seizing information about hundreds of members.

Dropbox hired its first sales chief, a Microsoft veteran with past Dell experience.

Federal authorities have charged at five people in connection with the J.P. Morgan Chase hack last year.

You thought the Apple-Samsung patent dispute was over? It's not, and Google, Hewlett-Packard, Dell and Facebook just threw down on Samsung's side.

Sony is getting into the drone business, through a joint venture that will sell data services for land surveys, facility inspections, and more.

MY FORTUNE BOOKMARKS

The CEO who set his company's minimum wage at $70K? His brother is suing him by Tom Huddleston Jr.

How First Data embodies KKR's approach to tech investing by Erin Griffith

Advertising isn't the solution to the media's problems — it's the problem by Mathew Ingram

This drone is packing heat, but it isn't breaking any laws by Barb Darrow

Nokia to unveil its first virtual reality project next week in Los Angeles by Kia Kokalitcheva

Your car isn't safe from hackers, here's why by Robert Hackett

ONE MORE THING

Batter up! Yankees manager Joe Girardi is trying his hand at mobile apps, with a multi-player children's game.

MARK YOUR CALENDAR

LinuxCon North America: All about open source. (Aug. 17 - 19; Seattle)

SuccessConnect: Simplify the way the world works. (Aug. 10 - 12; Las Vegas)

VMworld: The virtualization ecosystem. (Aug. 30 – Sept. 3, 2015; San Francisco)

Gartner Customer 360 Summit: Strategies for digital engagement. (Sept. 9 - 11; San Diego)

Dreamforce: The Salesforce community. (Sept. 15 - 18; San Francisco)

.conf2015: Splunk's "get your data on" gathering. (Sept. 21 - 24; Las Vegas)

Cassandra Summit: Largest gathering of Cassandra database developers. (Sept. 22 - 24; San Francisco)

AppSec USA 2015: Application security principles. (Sept. 22 - 25; San Francisco)

BoxWorks 2015: Cloud collaboration solutions. (Sept. 28 - 30; San Francisco)

Workday Rising: Meet and share. (Sept. 28 - Oct. 1; Las Vegas)

HP Engage: Big data, big engagement. (Oct. 4 - 6; San Diego)

Gartner Symposium ITxpo: CIOs and senior IT executives. (Oct. 4 - 8; Orlando, Florida)

I Love APIs 2015: Apigee's annual conference. (Oct. 12 - 14; San Jose, California)

Grace Hopper Celebration of Women in Computing: World's largest gather of women technologists. (Oct. 14 - 16; Houston)

DevOps Enterprise Summit: Lean principles meet technology management. (Oct. 19 - 21; San Francisco)

CX San Francisco: Forrester's forum for customer experience professionals. (Oct. 22 - 23)

Oracle OpenWorld: Customer and partner conference. (Oct. 25 - 29; San Francisco)

TBM Conference 2015: Manage IT like a business. (Oct. 26 - 29; Chicago)

eBusiness Chicago: eBusiness and channel strategy. (Oct. 29 - 30)

QuickBooks Connect: SMBs, entrepreneurs, accountants and developers. (Nov. 2 - 4; San Jose, California)

CMO+CIO: Forrester's summit on strategy collaboration. (Nov. 2 - 4; Sarasota, Florida)

Oktane15: Identity management trends. (Nov. 2 - 4; Las Vegas)