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☆ Will David Ellison's dad help him save Paramount?
▼ + stars: | 2024-04-10 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Producer David Ellison is trying to take control of Paramount, the troubled media company. Ellison's father, Oracle founder Larry Ellison, is expected to help finance the proposed deal. AdvertisementDavid Ellison is a Hollywood producer who looks increasingly likely to become the new owner of Paramount. David Ellison is also the son of Larry Ellison, who founded business software behemoth Oracle Corp. and is the fifth-richest man in the world. This story is available exclusively to Business Insider subscribers.

Persons: David Ellison, Ellison's, Larry Ellison, —, Ellison, Shari Redstone Organizations: Paramount, Oracle, Service, behemoth Oracle Corp, Business Locations: Hollywood

☆ Here are Thursday's biggest analyst calls: Nvidia, Netflix, Tesla, Citi, Robinhood, Meta, IBM, Broadcom & more
▼ + stars: | 2024-03-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Evercore ISI reiterates Netflix as outperform Evercore raised its price target on Netflix to $640 per share from $600. Citi downgrades Chubb to neutral from buy Citi said it sees a more balanced risk/reward for the insurance company. Goldman Sachs upgrades Citi to buy from neutral Goldman said in its upgrade of Citi that shares are "compelling." Citi reiterates Nvidia as buy Citi said after a series of investor meetings that Nvidia is a "most favored name." Bernstein reiterates Nvidia and Broadcom as outperform Bernstein said Nvidia and Broadcom are still top picks at the firm.

Persons: Deere, Truist, Bernstein, Tesla, Citi downgrades Chubb, Goldman Sachs, Goldman, Wells, Berenberg, it's, Caterpillar, Morgan Stanley, Meta, Utz, Armour, Evercore, Kevin Plank, Stephanie Linnartz, Jack, Argus Organizations: Deere, UBS, Netflix, Citi, Logitech, Barclays, Thomson Reuters, Caterpillar, Nvidia, Micron, Facebook, Raytheon, Bank of America, of America, Utz, UAA, JPMorgan, IBM, Broadcom, VMware, Argus, Oracle, Oracle Corp Locations: Williams, Sonoma

☆ Oracle shares surge 12% and head for record close
▼ + stars: | 2024-03-12 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

Safra Catz, CEO of Oracle Corporation, rings the opening bell at the New York Stock Exchange, July 12, 2023. Oracle stock spiked more than 12% during intraday trading on Tuesday and is on pace for a record close, a day after the company reported fiscal third-quarter earnings that beat analysts' expectations. They're also on pace for the biggest gain since Dec. 10, 2021, when Oracle stock closed up 15.6%. Deutsche Bank lifted its price target on Oracle shares to $150 from $135, noting CEO Safra Catz reiterated fiscal 2026 guidance and strong cloud infrastructure results. Analysts at Bernstein Research, who have the equivalent of a buy rating on Oracle stock, bumped up their price target to $159 from $147.

Persons: Safra Catz, They're, Leswing, Jordan Novet Organizations: Oracle Corporation, New York Stock Exchange, Oracle, Deutsche Bank, UBS, Bernstein Research

☆ Oracle shares soar 13% on better-than-expected quarterly earnings
▼ + stars: | 2024-03-11 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Larry Ellison, co-founder and executive chairman of Oracle Corp., speaks during the Oracle OpenWorld conference in San Francisco on Oct. 22, 2018. Oracle reported quarterly earnings on Monday that exceeded Wall Street's expectations. Analysts were expecting $1.64 in adjusted earnings per share, according to LSEG. The company's cloud revenue, which is reported as part of the cloud services unit, rose 25% year-over-year to $5.1 billion, Oracle said. Prior to Monday's report, Oracle shares were up 8.7% for the year, slightly outperforming the S&P 500.

Persons: Larry Ellison, Oracle, Safra Catz, Catz, Ellison Organizations: Oracle Corp, Oracle, Revenue, Microsoft Locations: San Francisco, LSEG

☆ Satya Nadella's first decade as Microsoft CEO was defined by cloud. What's next?
▼ + stars: | 2024-02-04 | by ( Jordan Novet | ) www.cnbc.com time to read: +11 min

Jason Redmond | AFP | Getty ImagesWhen Satya Nadella replaced Steve Ballmer as Microsoft CEO in February 2014, the software company was mired in mediocrity. Many tech industry analysts and investors would say that, thanks largely to Nadella, Microsoft is now set up to be a powerhouse for the foreseeable future. In a 2020 interview, Pat Gelsinger, then CEO of VMware, said offering his company's software on Microsoft's Azure cloud was akin to a "Middle East peace treaty." Nadella is perhaps best known in the tech industry for pushing Microsoft deeper into cloud computing. While some in the younger generations have Microsoft software at work, it's not necessarily what they grew up using and may not be what they prefer.

Persons: Satya Nadella, Bing, Jason Redmond, Steve Ballmer, Aravind Srinivas, Jeff Bezos, Nadella, Aaron Levie, Levie, Larry Ellison, David Paul Morris, Pat Gelsinger, Michael Nathan, Nathan, he'd, He's, Nat Friedman, Friedman, Kevork Djansezian, Ballmer, Kevin Dallas, I've, Dallas, it's, Gen Z, OpenAI's, Commission's Lina Khan, Sam Altman, Altman, OpenAI isn't, hasn't, Jefferies Organizations: Microsoft, AFP, Getty, Apple, Google, Amazon, Oracle Corp, Oracle, Bloomberg, VMware, Intel, Linux, Ballmer, Los Angeles Clippers, Microsoft Corp, Nokia, Activision Blizzard, Adobe, Activision, Federal, U.S . Justice Department, CNBC Locations: Redmond , Washington, San Francisco, Microsoft's, Silicon Valley, Los Angeles , California, U.S, Europe

☆ Oracle shares slide as revenue misses estimates
▼ + stars: | 2023-12-11 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Larry Ellison, co-founder and executive chairman of Oracle Corp., speaks during the Oracle OpenWorld conference in San Francisco on Oct. 22, 2018. Oracle shares dropped more than 9% in extended trading Monday after the software company reported fiscal second-quarter revenue and quarterly revenue guidance that fell short of Wall Street expectations. Analysts polled by LSEG had predicted $1.37 in adjusted earnings per share and $13.34 billion in revenue, which implies 7.6% revenue growth. "We did not bring up as much capacity as we could have used this past quarter," Oracle CEO Safra Catz said on the call. OCI is the Oracle Cloud Infrastructure, the company's answer to Microsoft Azure and the market-leading Amazon Web Services.

Persons: Larry Ellison, LSEG, Safra Catz, Oracle, Ellison, Edward Jones Organizations: Oracle Corp, Oracle, Elon, Halliburton, Samsung, Microsoft, Oracle Cloud Infrastructure, Amazon Web Services, Technik Locations: San Francisco, LSEG

☆ Tim Scott drops out of GOP primary race after girlfriend reveal
▼ + stars: | 2023-11-13 | by ( Katherine Tangalakis-Lippert | Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Despite ample financial resources, his platform didn't resonate among GOP voters. Details of Scott's relationship with Noce surfaced after he faced criticism over being unmarried — with some insinuating he is gay. AdvertisementAdvertisement"It's like a different form of discrimination or bias," the 2024 GOP presidential candidate told The Washington Post . Scott's campaign began with $22 million before his announcement and received substantial backing from Larry Ellison, the cofounder of Oracle Corporation. AdvertisementAdvertisementA spokesperson for Scott's campaign did not immediately respond to a request for comment from Insider.

Persons: Tim Scott, —, Scott, Trey Gowdy, Mindy Noce, Axios, Larry Ellison Organizations: Service, GOP, Republican, Fox News, Washington Post, South, Oracle Corporation, senator's, Opportunity Matters Locations: South Carolina, America, Iowa

☆ Tim Scott drops out of race mere hours after girlfriend reveal
▼ + stars: | 2023-11-13 | by ( Katherine Tangalakis-Lippert | Lloyd Lee | ) www.businessinsider.com time to read: +3 min

I am suspending my campaign," Scott said during an interview on Fox News' "Sunday Night in America with Trey Gowdy." Details of Scott's relationship with Noce surfaced after he faced criticism over being unmarried — with some insinuating he is gay. AdvertisementAdvertisement"It's like a different form of discrimination or bias," the 2024 GOP presidential candidate told The Washington Post . Scott's campaign began with $22 million before his announcement and received substantial backing from Larry Ellison, the cofounder of Oracle Corporation. AdvertisementAdvertisementA spokesperson for Scott's campaign did not immediately respond to a request for comment from Insider.

The company wants Kathaleen McCormick, chief judge on the court, to approve a fee of no more than $64 million. The attorneys represented a Detroit police union pension plan that sued Tesla's directors for excessive compensation during 2017 to 2020. Nearly all of the directors' compensation comprised stock options and they only got paid if the stock rose. The 2020 lawsuit settled in July with the directors agreeing to return to Tesla $735 million as part of a $919 million agreement. The difference in the two values boils down to the stock options.

Persons: Thomas Peter, Kathaleen McCormick, Elon Musk's, James Murdoch, Rupert Murdoch, Larry Ellison, Tesla, Tom Hals, Noeleen Walder, David Gregorio Our Organizations: REUTERS, Oracle Corp, Tesla, Detroit, Oracle, Thomson Locations: Beijing, China, WILMINGTON , Delaware, Delaware, Delaware's Court, Wilmington , Delaware

☆ Government shutdown doesn't halt, but hinders Pentagon work
▼ + stars: | 2023-09-28 | by ( Mike Stone | ) www.reuters.com time to read: +2 min

Troop pay is delayed during a government shutdown, but Singh said housing and bills are not. For example, Ukrainian "F-16 pilot training would continue," said Chris Sherwood a Pentagon spokesman. However, some "delivery of defense articles, services, and/or military education" could be paused, Sherwood said. "Under a shutdown, the government stops payments on invoices not yet paid for costs incurred before the shutdown," the letter said. NDIA and PSC represent companies like Lockheed Martin Corp (LMT.N), L3Harris Technologies Inc (LHX.N), Bank Of America Corp (BAC.N) and Oracle Corp (ORCL.N).

Persons: Carlos Barria, Sabrina Singh, Singh, Chris Sherwood, Sherwood, David Norquist, David Berteau, Mike Stone, Alistair Bell Organizations: Pentagon, REUTERS, Rights, Department of Defense, Democratic, U.S, Senate, National Defense Industrial Association, Professional Services Council, Congressional, NDIA, PSC, Lockheed Martin Corp, L3Harris Technologies, Of America Corp, Oracle Corp, Thomson Locations: Arlington , Virginia, U.S, Ukraine, Washington

☆ Oracle spends more than $100 million on Ampere chips
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 22 (Reuters) - Oracle Corp (ORCL.N) agreed to prepay $104.1 million for processor chips made by startup Ampere Computing, according to Oracle's proxy statement filed on Friday. Oracle also invested $400 million in Ampere through a convertible note in its fiscal 2023, the proxy said. Ampere builds custom server chips based on Arm technology that compete with designs produced by Intel (INTC.O) and Advanced Micro Devices (AMD.O), which use X86. Oracle has invested hundreds of millions of dollars in Ampere since it was founded, according to filings. Amazon.com makes its own server chips that compete with Ampere, and Google makes its own artificial intelligence processors.

Persons: Brendan McDermid, Oracle, Ampere, Ampere –, Max A, David Gregorio, Rosalba O'Brien Organizations: Oracle Corporation, New York Stock Exchange, REUTERS, Oracle Corp, Ampere, Intel, Devices, Oracle, Amazon.com, Google, Thomson Locations: New York City, U.S, Ampere, San Francisco

☆ Oracle to use Ampere's newest chips in its cloud offering
▼ + stars: | 2023-09-20 | by ( Stephen Nellis | ) www.reuters.com time to read: +1 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 19 (Reuters) - Oracle (ORCL.N) said on Tuesday that it would use Ampere Computing's flagship processor chips in its cloud computing service, in a boost to the chip company that has filed for an initial public offering. Ampere aimed to create chips that are designed to be more energy efficient than traditional processors from Intel and Advanced Micro Devices (AMD.O), both of which have subsequently announced offerings that compete with Ampere's chips. Oracle is a major investor in Ampere and was among the first cloud companies to adopt its chips in 2021. Ampere said last month that Alphabet's (GOOGL.O) Google Cloud unit would offer its newest chips, which feature computing cores custom designed by Ampere. Cloud computing companies are among the largest purchasers of chips, buying them en masse and renting them out to software developers.

Persons: Brendan McDermid, Ampere, Taiwan's TSMC, Renee James, Stephen Nellis, Jamie Freed Organizations: Oracle Corporation, New York Stock Exchange, REUTERS, Oracle, Intel, Arm Holdings, Devices, Google, Thomson Locations: New York City, U.S, Ampere, San Francisco

[1/2] 3D printed clouds and figurines are seen in front of the Oracle cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Oracle Corp FollowTORONTO, Sept 19 (Reuters) - Oracle (ORCL.N) is ready to cater to Canadian banks for their open banking needs and provide tools as needed when the country make its available, a financial services executive with the cloud computing giant said. "We are open banking ready," Sonny Singh, executive vice president of Oracle Financial Services said in an interview. Oracle's suite of financial products - used in 140 countries, billing and managing $500 billion in revenue - includes purpose-built products for financial services from financial crime, compliance applications and risk management. Oracle already counts some Canadian banks as clients for one or many of its services, that includes cloud to enterprise applications.

Persons: Dado Ruvic, Sonny Singh, Singh, Nivedita Balu, Marguerita Choy Organizations: Oracle, REUTERS, Oracle Corp, Oracle Financial Services, SIBOS, Thomson Locations: Canada, Toronto, Australia, Britain

☆ Oracle's post-earnings slide is 'one of the greatest overreactions' Cramer has seen. Here’s his advice on the stock
▼ + stars: | 2023-09-12 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +4 min

The post-earnings sell-off in Oracle (ORCL) is overdone and a clear-cut buying opportunity, Jim Cramer said Tuesday. Still, Oracle delivered robust growth in cloud-computing services, making the stock's slide Tuesday "one of the greatest overreactions I've ever seen," according to Jim. We recognize the challenges facing other parts of Oracle's business, including Cerner and some of its traditional business software offerings. This mix enables us to view Tuesday's stock decline as another entry point, rather than a reason to walk out the door. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Jim, we've, Cerner, Safra Catz, hasn't, Jim Cramer's, Brendan Mcdermid Organizations: Oracle, Club, Trust, CNBC, UBS, Barclays, Management, Oracle Corporation, New York Stock Exchange Locations: New York City, U.S

☆ Stocks making the biggest moves premarket: Oracle, WestRock, Apple and more
▼ + stars: | 2023-09-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Safra Catz, CEO of Oracle Corporation, rings the opening bell at the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. Check out the companies making headlines before the bellOracle – Shares fell 10% before the opening bell after the company posted weaker-than-expected revenue and revenue guidance for the second fiscal quarter. For the recent quarter, the software company reported adjusted earnings of $1.19 per share, versus the $1.15 expected by analysts polled by LSEG. Apple – The stock inched higher before the bell ahead of the technology giant's eagerly anticipated iPhone launch event beginning at 1 p.m. Casey's General Stores – The retail stock added more than 4% in the premarket after topping earnings expectations for the recent quarter.

Persons: Safra Catz, giant's, Geron, Goldman Sachs Organizations: Oracle Corporation, New York Stock Exchange, Oracle, LSEG . Revenue, Smurfit Kappa, Kappa, Apple, Bank of America, Casey's, FactSet . Revenue Locations: New York City, U.S, Dublin

☆ Oracle revenue misses estimates as tough economy hurts cloud spending
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

A screen displays the logo and trading information for Oracle Corporation on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 30, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsSept 11 (Reuters) - Oracle (ORCL.N) narrowly missed market expectations for first-quarter revenue on Monday, as companies pared back spending on cloud services due to an uncertain economic outlook. Companies have been trying to optimize their cloud budgets due to a global economic slowdown after a spurt in spending and adoption during the pandemic. Revenue for the quarter stood at $12.45 billion, slightly below analysts' estimates of $12.47 billion, according to LSEG data. Net income was $2.42 billion for the quarter ended Aug. 31, compared with $1.55 billion a year earlier.

Persons: Brendan McDermid, Akash Sriram, Devika Organizations: Oracle Corporation, New York Stock Exchange, REUTERS, Oracle, Companies, Amazon Web Services, Microsoft, Revenue, Thomson Locations: New York City, U.S, Bengaluru

Its shares had lost almost half their value in the last 12 months prior to news of its exploring a sale. The Irvine, California-based company is being advised by investment bank Qatalyst Partners on its discussions with potential acquirers, which include private equity firms, the sources said. Alteryx shares ended trading on Wednesday up 14% on the news at $34.58. In recent years, Alteryx has transitioned to a subscription-focused business model as part of a strategy to tap into growing demand for data analytics services. In its most recent quarter, Alteryx posted a net loss of $120 million due to higher sales and marketing expenses.

Persons: Alteryx, Dean Stoecker, Qatalyst, Milana Vinn, Nick Zieminski, Stephen Coates Organizations: Alteryx, Microsoft Corp, Oracle Corp, Qatalyst Partners, Insight Partners, Cola, Vodafone Plc, Walmart Inc, Ford Motor Company, North America, Thomson Locations: Irvine , California, Alteryx, New York

☆ Stocks making the biggest moves premarket: Oracle, AT&T, Best Buy and more
▼ + stars: | 2023-08-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Best Buy — Best Buy rose about 1.3% after topping Wall Street's fiscal second-quarter expectations on the top and bottom lines. Heico reported revenue of $723 million for the previous quarter, ahead of the $702 million expected by analysts polled by Refinitiv. Nio — Nio's stock lost more than 6% before the bell after the Chinese electric vehicle company reported a wider-than-expected quarterly loss. The company reported $2.21 in adjusted earnings per share, while analysts were looking for $2.02 per share, according to FactSet's StreetAccount. BYD — The Chinese automaker's U.S.-traded shares rose more than 2% Tuesday premarket, a day after it announced a 204.68% jump in net profit for the first half of 2023.

Persons: Safra Catz, PDD, Heico, FactSet's, BYD, CNBC's Hakyung Kim, Tanaya Macheel, Jesse Pound Organizations: Oracle Corporation, New York Stock Exchange, UBS, Oracle, Verizon —, Verizon, Citi, Refinitiv . Revenue, FactSet . Revenue, PDD Holdings —, Refinitiv, Toyota Motor —, Toyota Motor Locations: U.S, Japan

☆ Australia's competition watchdog puts data brokers on radar
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File PhotoJuly 10 (Reuters) - Australia's competition watchdog on Monday asked consumers, businesses and other relevant stakeholders to provide their views about the business practices of data brokers in an attempt to regulate the country's digital platform services sector. Data brokers generally gather information like personal details of customers including their browsing and purchasing behaviour from a wide range of sources such as mobile applications, social media sites and card payment providers. The report will explore how third-party data brokers collect and use information to create products and services and if there may be competition and consumer issues arising from this, the ACCC said in a statement. The regulator's digital platforms branch has been conducting a five-year inquiry till 2025 to inquire into the markets for the supply of digital services. The report will focus on businesses that collect information from third-party sources and share or sell data to other organisations and, on the off chance that there might be competition and customer issues emerging from it.

Persons: Brendan McDermid, Gina Cass, Gottlieb, Rishav Chatterjee, Rashmi Organizations: Oracle Corp, New York Stock Exchange, REUTERS, Australian Competition, Consumer Commission, Oracle, Thomson Locations: New York, U.S, Ireland, Australia, Bengaluru

☆ Oracle spending 'billions' on Nvidia chips this year, Ellison says
▼ + stars: | 2023-06-28 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake/File PhotoMENLO PARK, California, June 28 (Reuters) - Oracle Corp (ORCL.N) is spending "billions" of dollars on chips from Nvidia Corp (NVDA.O) as it expands a cloud computing service targeting a new wave of artificial intelligence (AI) companies, Oracle founder and Chairman Larry Ellison said on Wednesday. Oracle is also spending "billions" of dollars on Nvidia chips but even more on central processor units (CPUs) from Ampere Computing, a chip startup it has invested in, and Advanced Micro Device Inc (AMD.O), Ellison said at an Ampere event. "This year, Oracle will buy GPUs and CPUs from three companies," Ellison said. "We will buy GPUs from Nvidia, and we're buying billions of dollars of those. Other companies such as CoreWeave, which earlier this year raised a fresh $200 million of funding, are also targeting AI companies with cloud hardware that relies heavily on Nvidia chips.

Persons: Mike Blake, Larry Ellison, Ellison, Oracle, Stephen Nellis, Richard Chang Organizations: REUTERS, MENLO, Oracle Corp, Nvidia Corp, Oracle, Amazon Web Services, Microsoft Corp, Ampere Computing, Device, Nvidia, Ampere, AMD, Google, Thomson Locations: Los Angeles , California, U.S, , California, Menlo Park , California

☆ Oracle adds generative AI to its human resources software
▼ + stars: | 2023-06-28 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

June 28 (Reuters) - Oracle Corp (ORCL.N) on Wednesday said it is adding generative artificial intelligence features to its human resources software for businesses, aiming to help draft job descriptions and employee performance goals, among other tasks. Many business users have approached generative AI technology more cautiously because it can make up untrue facts and be tricked into saying unsettling things. Oracle's human resources software is used by big businesses for hiring new employees and providing performance evaluations, among other things. "We don't expect generative AI is going to write your goals for you. If we can change that to hours and minutes, that's where we're really seeing the difference with the possibilities of generative AI," Waterman said.

Persons: Rich Buchheim, Buchheim, Guy Waterman, Waterman, Stephen Nellis, Lincoln Organizations: Oracle Corp, Microsoft Corp, Oracle, Oracle Adaptive Intelligence, Thomson Locations: San Francisco

☆ Oracle considers more investment in Israel - Netanyahu
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: 1 min

JERUSALEM, June 20 (Reuters) - Oracle Corp (ORCL.N) CEO Safra Katz discussed a possible expansion of the company's investment activity in Israel during a meeting on Tuesday with Prime Minister Benjamin Netanyhu, his office said. Oracle provides products and services that address enterprise information technology (IT) environments. The statement from Netanyahu's office said he and Katz also discussed opportunities arising from artificial intelligence. Writing by Dan Williams, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Safra Katz, Benjamin Netanyhu, Katz, Dan Williams, Louise Heavens Organizations: Oracle Corp, Oracle, Thomson Locations: Israel

☆ Exclusive: Amazon's cloud unit is considering AMD's new AI chips
▼ + stars: | 2023-06-14 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

The remarks came during an AMD event where the chip company outlined its strategy for the AI market, which is dominated by rival Nvidia Corp (NVDA.O). While AWS has not made any public commitments to use AMD's new MI300 chips in its cloud services, Dave Brown, vice president of elastic compute cloud at Amazon, said AWS is considering them. Nvidia does sell its chips piecemeal but is also asking cloud providers if they are willing to offer an entire system designed by Nvidia in a product called DGX Cloud. Brown said AWS had declined to work with Nvidia on the DGX Cloud offering. AWS started selling Nvidia's H100 chip in March, but as part of systems of its own design.

Persons: Nvidia's, Lisa Su, Su, Dave Brown, We're, Brown, Stephen Nellis, Kim Coghill Organizations: FRANCISCO, Web Services, Devices Inc, Reuters, Nvidia Corp, AMD, AWS, Nvidia, Oracle Corp, Thomson Locations: San Francisco

"Until we see several months of low or declining inflation, the headline number is still going to be above the 2% target that the Fed has set. Goldman Sachs on Friday raised its year-end price target for the benchmark S&P 500 (.SPX) to 4,500 from 4,000, citing the broadening of the market rally. Oracle (ORCL.N) advanced 4.3%, hitting an all-time high as J.P. Morgan hiked its price target to $109, ahead of the cloud and enterprise software firm's fourth-quarter results later in the day. Technology stocks (.SPLRCT) led gains among the 11 major sectors of the S&P 500 while energy stocks (.SPNY) fell 0.5%, tracking a decline in crude prices. Adobe (ADBE.O) shares gained 1.6% after Jefferies increased the Photoshop maker's price target to $530, the second highest on Wall Street.

Persons: Melissa Brown, Goldman Sachs, Morgan, Thoma, Jefferies, Shristi Achar, Sruthi Shankar, Vinay Dwivedi Organizations: Nasdaq, Dow, Oracle Corp, U.S, Labor, Traders, Oracle, Dow Jones, Nasdaq Inc, Thoma Bravo, FDA, NYSE, Thomson Locations: megacap, Bengaluru

☆ Hewlett Packard Enterprise misses quarterly revenue estimates
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +1 min

May 30 (Reuters) - Hewlett Packard Enterprise Co (HPE.N) missed Wall Street estimates for second-quarter revenue on Tuesday, as clients scale down spending on tech, including cloud services, amid an economic slowdown. For some of the largest tech companies, cloud services and data center businesses have been among the biggest growth drivers, including during the pandemic as people worked from home. Its revenue for the quarter ended April 30 was $6.97 billion, compared with analysts' average expectations of $7.31 billion, according to Refinitiv data. Quarterly sales for the company's compute segment fell 8%, while the storage segment recorded a 3% decline. Hewlett Packard expects revenue for the third quarter to be between $6.7 billion and $7.2 billion.

Persons: Hewlett Packard, Tiyashi Datta, Shilpi Majumdar Organizations: Hewlett Packard Enterprise Co, Microsoft Corp, Amazon.com Inc, Oracle Corp, Thomson Locations: Texas, Aruba, Bengaluru

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