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Stock-picking hedge funds have become more selective on megacap technology stocks after their drastic rallies, according to VerityData. The research firm identified "fundamental" hedge funds that disclosed 10 to 300 holdings and aggregate holdings of at least $100 million in recent 13F filings. Microsoft continued to be the most popular stock among those hedge funds, extending its No.1 status to a seventh quarter, according to the data. Several hedge funds also flocked to Nvidia despite its jaw-dropping advance over the past year, the data said. Less popular On the flip side, hedge funds dialed back their exposure to Alphabet and Apple last quarter.
Persons: Tesla, weathers Organizations: Microsoft, Nvidia
Read previewIt's about to be a big week for Microsoft. Copilot and other AI features in WindowsWedbush analysts expect Microsoft to roll out more Copilot and AI features into its consumer and enterprise product stack. Related storiesIves said putting AI features into Windows will give developers the foundation to build AI use cases through Windows and, ultimately, Azure. Ives said the new AI Surface updates will start a new PC-driven cycle that's "AI-led, from Dell to Microsoft, and ultimately to Apple as well." But according to Ives, Microsoft will be a "showstopper."
Persons: , Dan Ives, Wedbush's, Wedbush, Ives, Google Organizations: Service, Microsoft, Google, Business, Windows, Oracle, Apple, Dell, Ives
Buybacks and share count information can be gleaned from a review of the company's financial statements. The current share count is listed near the bottom of the balance sheet in the "Shareholder equity" section. This means that a company's buyback program will only reduce the share count if it exceeds the stock-based compensation it is paying out. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, — Robert, Robert, Jim, — Vick, Jim Cramer's, Spencer Platt Organizations: Microsoft, Google, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Getty Locations: New York, Louisville , Kentucky, New York City
In today's big story, we're looking at how Zyn nicotine pouches are becoming the new weight-loss quick fix . A new weight-loss quick fix is making the rounds just in time for summer's unofficial start (Memorial Day), but this one relies on a highly addictive drug. However, one doctor Hilary spoke to has concerns about the effects of using nicotine to lose weight. Wilson, Amazon, Albany Times Union/Hearst Newspapers/Getty, Creative Crop/Getty, Tyler Le/BIOf course, you don't have to rely on a highly addictive drug to lose weight. Disney CEO Bob Iger said he's giving too much money to the Big Tech app stores that distribute Disney-owned streamers like Hulu and Disney+.
Persons: , Michael M, Rebecca Zisser, Hilary Brueck, Mia de Graaf, Hilary, they're, They're, Wilson, Tyler Le, I'm, BI's Jordan Hart, padel, Gabby Landsverk, Jamie Dimon Jamie Dimon, Jerome Powell, Bob Iger, Bernstein, Rouco, Zers, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, HBO, Business, Getty, bros, Albany Times Union, Hearst Newspapers, Creative, CNBC, JPMorgan, GameStop, Disney, Big Tech, Hulu, Google, Big, Microsoft, Wall Street, Citi Locations: Amazon, China, Ireland, Australia, millennials, New York, London
The sale comes after GameStop shares surged earlier this week in a brief revival of the meme-stock trade. Reddit — The social media stock popped 12% after Reddit announced a partnership with OpenAI. Take-Two Interactive — Shares of the video game publisher were up about 1% after its quarterly report showed stronger-than-expected bookings. Revenue guidance of $3.1 billion to $3.15 billion was also softer than the $3.3 billion expected by Wall Street. JD.com — The Chinese e-commerce stock advanced 2.2% on the heels of a Macquarie upgrade to outperform from neutral.
Persons: Reddit, OpenAI, Doximity, Globant, DXC, Tilray, Coinbase, JD.com, Macquarie, Jefferies, Yun Li, Jesse Pound, Samantha Subin, Hakyung Kim Organizations: GameStop, OpenAI, Reuters, Microsoft, Nvidia, Bloomberg Law, Globant SA, Technology, FactSet, Wall, Bank of America, Macquarie, DuPont de Nemours, Jefferies
Take-Two Interactive Software — Shares of the video game company were down more than 2% after an update about the timing of the new Grand Theft Auto game. Doximity also reported in line revenue guidance for the first quarter. Expected revenue of $585 million to $589 million was weaker than the $590.2 million consensus estimate. The information technology company expects earnings of 55 cents to 60 cents per share in the first quarter, weaker than the FactSet consensus estimate of 76 cents earnings per share. Revenue guidance of $3.1 billion to $3.150 billion was less than the anticipated $3.3 billion.
Persons: Reddit, Doximity, Globant, FactSet, Goldman Sachs, — CNBC's Brian Evans, Michelle Fox, Hakyung Kim, Yun Li, Jesse Pound, Pia Singh Organizations: GameStop, OpenAI, Bloomberg, Globant SA, FactSet, Citigroup, DXC Technology
The U.K.'s Competition and Markets Authority cleared Microsoft's AI partnership with Mistral of regulatory concerns after previously inviting views on whether the arrangement qualified as a merger. Now, the regulator says it's no longer looking into Microsoft's investment in Mistral. It has given no update on its inquiries into the Amazon-Inflection deal and into Microsoft's hiring of employees from Inflection. Microsoft previously denied its deals with OpenAI and Mistral and hiring of employees from Inflection constituted mergers. Amazon has also said that its partnership with Anthropic represents a limited corporate investment, not a merger.
Persons: OpenAI Organizations: Markets, Mistral, CMA, Enterprise, CNBC, Microsoft, U.S, Anthropic Locations: French, U.S, Mistral
CNN —Microsoft has asked at least 100 of its employees in China to consider moving to other countries, according to Chinese state media reports. Microsoft employees, mostly involved with cloud computing, were recently offered the opportunity to work in the United States, Australia or Ireland, among other countries, state-run outlet The Paper said in a report Wednesday, citing an unnamed source. The Wall Street Journal reported Thursday that Microsoft asked as many as 800 employees — mostly engineers with Chinese nationality working on cloud computing and AI — to consider relocating. In a statement reported by Reuters, Microsoft (MSFT) said providing internal opportunities for some employees was part of its regular business and the company remained committed to China. In recent months, the United States has also enlisted its allies in Europe and Asia in restricting sales of advanced chipmaking equipment to China.
Persons: , Biden, Joe Biden Organizations: CNN, Microsoft, Street, The, Reuters, Microsoft Research Locations: China, Beijing, Washington, United States, Australia, Ireland, Europe, Asia
Microsoft has reportedly asked China-based cloud computing and artificial intelligence operations employees to consider relocating out of the country, as Washington cracks down on Beijing's access to the advanced technology. One source told WSJ that Microsoft had made the offer to about 700 to 800 people in total who were involved in machine learning and other work related to cloud computing. In a statement shared with CNBC, a Microsoft spokesperson confirmed that the company had "shared an optional internal transfer opportunity with a subset of employees" without supplying details on the number and affiliation of staff affected. Microsoft employs roughly 7,000 engineers for its Asia-Pacific research-and-development group, with most of this workforce based in China, the WSJ reports. The move comes amid U.S. efforts to prevent China from developing cutting-edge AI technology, which could be used for military purposes.
Organizations: Microsoft, Street Journal, CNBC Locations: China, Washington, U.S, Ireland, Australia, New Zealand, Asia, Pacific
Read previewAt an October all-hands meeting, an Amazon Web Services employee asked executive Matt Garman about the company's difficult work environment. The people who spoke with BI about Garman asked not to be identified so they could freely discuss his abilities. One AWS employee pointed out to BI that Amazon Q was months behind the launch of Microsoft's AI Copilots. Associated PressOutside of AI, AWS has struggled in its core startups and small business segments, failing short of sales targets last year, as BI previously reported. Those customers are particularly important for AWS because the company built its early business by embracing that market.
Persons: , Matt Garman, Garman, It's, Adam Selipsky, Selipsky, Andy Jassy, Matt, Amazon's, Patrick Neighorn, He'd, We're, Neighorn, it's, Claude, AWS's, let's Organizations: Service, Amazon Web Services, AWS, Business Insider, Employees, Business, Amazon, Stanford, BI, Mizuho Securities, Q, Cohere, Mistral, Google, Associated Locations: Anthropic
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. However, Jim Cramer argued that a negative revision to the March PPI offset the price pressures in Tuesday's print. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Jim, It's, Adam Selipsky, Selipsky, Matt Garman, Jim Cramer's Organizations: CNBC, Federal Reserve, GameStop, Bank of America, Amazon, Amazon Web Services, Club
Amazon Web Services CEO Adam Selipsky to step down
  + stars: | 2024-05-14 | by ( Clare Duffy | ) edition.cnn.com   time to read: +3 min
New York CNN —Amazon’s biggest moneymaker, Amazon Web Services, is getting a new leader. Adam Selipsky, the chief executive of the cloud computing unit, will step down from his role next month, the company announced Tuesday. Selipsky, who first joined AWS in 2005 — before its services were even publicly available — has led the business since 2021, when previous AWS CEO Andy Jassy was promoted to lead all of Amazon. Matt Garman, currently vice president of sales, marketing and global services, will take over as AWS CEO starting June 3. Amazon Web Services’ sales have grown more than 85% since Selipsky’s takeover.
Persons: New York CNN —, Adam Selipsky, Selipsky, , Andy Jassy, Matt Garman, Jassy, , he’d, Adam, ” Jassy, “ I’m, Matt, ” Selipsky, Garman Organizations: New, New York CNN, Amazon Web, AWS, Google, Microsoft, Amazon Locations: New York
She landed a job as a software engineer at Amazon straight out of her master's degree in computer science. After five years at Amazon, Pandey wanted to try working at other FAANG companies and applied to Microsoft and Google in 2021. Related storiesShe shared the résumé that helped her land an offer at Microsoft as well as the one she accepted at Google, a customer engineering position. AdvertisementPandey's 2021 résumé landed her roles at Google and Microsoft. Sonakshi PandeyLooking back on her 2021 résumé, Pandey said that there are two unique things about the document that worked in her favor.
Persons: , Pandey, résumé, Sonakshi Pandey Organizations: Service, Amazon, Business, Amazon Web Services, Microsoft, Google, YouTube Locations: Seattle
Microsoft said in a statement Monday that it's committing 4 billion euros ($4.3 billion) toward expanding its cloud and AI infrastructure in France, in addition to funding AI skilling and support for France's technology industry. The announcement was made during the "Choose France" summit, a gathering dedicated to encouraging foreign investment in France. Amazon, meanwhile, made a commitment of its own to invest 1.2 billion euros in France. Collectively, the commitments from Microsoft and Amazon to France amount to $5.6 billion of funding. In total, France reportedly bagged a record 15 billion euros of investment commitments from foreign companies at an annual "Choose France" summit on Monday.
Persons: it's, , Brad Smith, , , Frederic Duval, Duval, Emmanuel Macron, Macron, Redmond Organizations: Microsoft, Amazon, Facebook, FAIR, Mistral Locations: Athens, Greece, France, French, Mulhouse, Amazon's, Paris, Washington, Mistral
The group, known as 'BogusBazaar,' has processed over $50 million in fake orders, the study found. As the rise of online shopping took hold during the pandemic, so did the rise of fake online shops and products. Instead, the sites harvest credit card details and collect payments for the fake merchandise. AdvertisementThe fake shops processed over $50 million in orders between March 2021 and April 2024, SR Labs says. But the exposure of credit card details to the scammers will likely "add to the overall damage."
Persons: Organizations: Service, Labs, SR Labs, Business Locations: Europe, German, France, United States, Western Europe, China
Bank of America reiterates Apple as buy Bank of America is sticking with its buy rating on shares of Apple after its Tuesday iPad event. Bank of America reiterates Rivian as buy Bank of America said it's standing by the EV maker following earnings on Tuesday. " Bank of America initiates Sutro as buy Bank of America said it's bullish on shares of the biotech company. Deutsche Bank upgrades Boston Beer to hold from sell Deutsche upgraded the stock mainly owing to valuation. Bank of America reiterates Nvidia and Micron as buy Bank of America said it's sticking with buy ratings on both Nvidia and Micron.
Persons: Wells, Baird, Apple, Morgan Stanley, NKE, Reddit, Rivian, RIVN, Rosenblatt, Raymond James, it's, Roth, SHLS, Goldman Sachs, Goldman, ZI, YTD, Stephens, Ferrari Organizations: Hexcel Corporation, Old Dominion, Bank of America, Apple, Nike, Citi, Barclays, Disney, Nasdaq, JPMorgan, VMware, Broadcom, Deutsche Bank, Boston Beer, Deutsche, Nvidia, Micron, AMD, ARM, MU, Garden Entertainment, Knicks, Rangers, UBS, Ferrari Locations: Old, Disney, Datadog, RDFN
Matt Calkins, CEO and co-founder of Appian, said that though internet giants like Microsoft , Amazon , and Google are spending billions on the tech, ensuring success in AI is "not just about money." "AI is not a place where money makes more money," Calkins told CNBC in an interview at its London bureau on Tuesday. Microsoft has struck a similar deal with Mistral, taking a 15 million euro ($16 million) stake in the French AI firm. Separately, Amazon has invested a whopping $4 billion into U.S. AI firm Anthropic, which is behind the Claude AI system. "The best AI will be the AI you put your data into, not whoever bought the biggest stack," he said.
Persons: Matt Calkins, Appian, Calkins, Sam Altman, Altman, Claude, you've, , Sundar Pichai Organizations: Microsoft, Google, CNBC, Mistral, Amazon, OpenAI, Anthropic, British Locations: London, OpenAI, Redmond, Washington, French, Anthropic, Europe
I think shares of the one-time cloud computing darling are at risk of falling even lower and I will give a bearish options trade to capitalize on it. As CRM matures and growth rates moderate, it simply cannot continue to command the industry-leading valuations it once did and has to face the reality of its fundamentals. This suggests that CRM will likely continue to trade back towards the midpoint of the range in the $210-220 area. This makes a valuation that is 40% higher than the S & P 500 harder to justify when growth rates are slowing down significantly. The trade With earnings in three weeks, CRM options prices are slightly elevated and warrant using a spread to lower the cost of seeking bearish exposure.
Locations: Salesforce
Spanish startups hit Microsoft with complaint over cloud practices
  + stars: | 2024-05-07 | by ( ) www.cnbc.com   time to read: +3 min
Microsoft was hit with a Spanish startup group's complaint about its cloud practices to the Spanish antitrust regulator on Tuesday, the latest grievance over its fast-growing cloud computing services and which followed a trade group's EU complaint. The Spanish Startup Association, which represents more than 700 startups in Spain, cited a number of allegedly anti-competitive practices by Microsoft in recent years. Microsoft defended its cloud practices. "Microsoft provides choice and flexibility for our customers to switch to another cloud provider at no cost, and our licensing terms enable our customers and other cloud providers to run and offer Microsoft software on every cloud," a spokesperson said. "We will engage with the Spanish Startup Association to learn more about its concerns."
Persons: Carlos Mateo Organizations: Microsoft, Mobile, Amazon, Spanish Startup Association, Operating Systems, Windows, Reuters, Cloud Infrastructure Services, European Commission, Competition, Markets Locations: Barcelona, Spain, Spanish, U.S, Europe
BARCELONA, SPAIN - JANUARY 31: A logo sits illuminated outside the Amazon Web Services (AWS) booth at ISE 2023 and IOT Solution World Congress at Fira Barcelona on January 31, 2023 in Barcelona, Spain. (Photo by Cesc Maymo/Getty Images)SINGAPORE — Amazon Web Services on Tuesday said it will invest an additional 12 billion Singapore dollars (about $8.87 billion) over the next five years to grow its cloud infrastructure and services in Singapore. "The investment will go into the construction and build up of the DC capabilities, all associating with the Asia-Pacific Singapore region," Priscilla Chong, country manager of AWS Singapore, told CNBC's "Street Signs Asia" on Tuesday. The U.S. tech giant's cloud computing arm launched its first Asia-Pacific region in Singapore in 2010 – its first foray outside of the U.S. and Europe. Since then, AWS said it has pumped over SG$11 billion into Singapore's cloud infrastructure and ecosystem.
Persons: Cesc Maymo, Priscilla Chong, CNBC's, Chong Organizations: Amazon Web Services, Fira Barcelona, Integrated Systems, Services, AWS Singapore, ASEAN Locations: BARCELONA, SPAIN, Barcelona, Spain, Integrated Systems Europe, SINGAPORE, Singapore, Asia, Pacific Singapore, U.S, Pacific, Europe
The deal illustrates data centers' new-found interest in nuclear power. Joe Dominguez, the CEO of Constellation, the nation's largest operator of nuclear plants, said in a March earnings call that powering data centers with nuclear energy was "kind of a perfect marriage." AdvertisementVistra, another nuclear owner, also indicated it was arranging data center deals for a nuclear plant it owns in Ohio and one in Texas. Greg Poulos, the executive director of a PJM watchdog group, said that "one of my highest priority, highest radar items" is how data centers could push costs onto consumers and also whether nuclear data centers deals could reduce grid reliability. Beyond the nuclear optionNot all data centers, of course, are seeking out nuclear power to seize their energy independence.
Persons: , Wes Swenson, Swenson, Joe Dominguez, Jim Burke, Ralph La Rossa, La Rossa, Steve Helber, Burke, Dominguez, PJM, Michael Jacobs, Brian Janous, Greg Poulos, Poulos, Biden Organizations: Service, Susquehanna, Amazon, Business, US Energy Information Administration, Nuclear, Constellation, Public Service Enterprise Group, Microsoft, International Energy Agency, Dominion Energy, Talen Energy, Energy, Union of Concerned Locations: Pennsylvania, Salt Lake City, Ohio, Texas, New Jersey, Our, Jersey, Virginia, Chester , Va, Susquehanna, Chicago, New York City
Read previewThe Seed 100 and Seed 40 lists are derived from a statistical analysis of investor track records. Incubated by Tribe Capital, Termina is an AI-software platform that powers quantitative due diligence for leading investors around the world. Show intermediate signs of future success with seed investments that consistently receive follow-on investment. Ten percent of all seed investors in scope were women, up from 8% when the first Seed 100 was released in 2021. The result in just one year is the largest-ever rebalancing of how investors allocate seed capital across sectors.
Persons: , We've, We're, OpenAI, Termina, Jake Ellowitz Organizations: Service, Business, Tribe Capital Locations: USA, Canada
In the past, he set Signal messages to automatically delete after one week. "I never would have used Signal under any circumstances with disappearing messages on or off to discuss any complicated business issues. Associated PressJEDI ContractThe FTC lawyer also showed Bezos a log of Signal messages that were used with the disappearing message feature activated. He said he "did not" know Signal messages were covered by those legal guidelines. The company was "unable to determine" why that's the case, but said it's possible Signal messages were deleted when they got new phones.
Persons: Jeff Bezos, Bezos, Mike Hopkins, , Andy Jassy, Amazon's, Jassy, Donald Trump, there's, I'm, Jeff Blackburn, Hopkins, Blackburn, Blackburn wasn't, Blackburn's, Max Organizations: Federal Trade, Amazon, Business, FTC, Associated Press, Defense Department, Microsoft, Department of Defense, Blackburn, Bezos Locations: Bezos, Blackburn
Read previewExpect a lot more talk of generative AI at Amazon cloud computing events this year. "Up to 80% of all Global Summit sessions will be sourced from 2023 re:Invent sessions tagged to Gen AI." The new directive shows how Amazon is going to extraordinary lengths to promote its AI prowess, at a time when interest in generative AI is skyrocketing. On Tuesday, Jassy said Amazon is on pace to generate "multi-billion" dollars in revenue this year from its generative AI offerings. Generative AI has already been accounting for a larger share of Amazon's public comments.
Persons: , Patrick Neighorn, we've, Andy Jassy, Jassy, It's Organizations: Service, Services, Business, AWS, Amazon, Global, Microsoft, Google, Meta
UBS upgrades Burlington to neutral from sell UBS said the outlook for Burlington is improving. Jefferies reiterates Netflix as buy After a change in analyst coverage, the firm says it's standing by its buy rating. UBS upgrades TJX Companies to buy from neutral UBS says the off-price retailer is a "growth stock with surprising upside." UBS downgrades CVS to neutral from buy UBS said it sees too much uncertainty for shares of CVS. JPMorgan upgrades Carvana to overweight from neutral JPMorgan upgraded Carvana following earnings on Wednesday.
Persons: Morgan Stanley, Ferrari, Mizuho, C27E, BURL, Jefferies, Rosenblatt, TD Cowen downgrades Wolfspeed, Cowen, Raymond James, Parsons, Ziff Davis, KBW, Piper Sandler, Cantor Fitzgerald, Tesla, Cantor, it's bullish Organizations: Nvidia, Mizuho, UBS, Netflix, Networks, Enterprise, Jefferies, CTV, TJX Companies, Department Stores, CVS, JPMorgan, Susquehanna, MGM, Bank of America, Community Bank, Piper, NYCB, ~$ Locations: Burlington, Las Vegas
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