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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI has been driving the ads business for years already, says Richard KramerRichard Kramer, Managing Partner at Arete Research, discusses earnings from Alphabet and Snap.
Persons: Richard Kramer Richard Kramer Organizations: Arete Research
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's a mistake to pick out one clear winner in the AI arms race, says Richard KramerRichard Kramer, Managing Partner at Arete Research, discusses artificial intelligence following the one-year public anniversary of ChatGPT.
Persons: Richard Kramer Richard Kramer Organizations: Arete Research
Goodyear tune-up may go beyond rotating the tires
  + stars: | 2023-11-15 | by ( ) www.reuters.com   time to read: +2 min
Aug 20, 2023; Watkins Glen, New York, USA; A detailed view of Goodyear Eagle racing tires prior to the Go Bowling at The Glen at Watkins Glen International. Mandatory Credit: Matthew O'Haren-USA TODAY Sports Acquire Licensing RightsNEW YORK, Nov 15 (Reuters Breakingviews) - A century is a long time to accumulate bad habits. Goodyear Tire & Rubber (GT.O) on Wednesday said it would try to shed some, by selling $2 billion of assets, streamlining its business and paying down debt. As the $4 billion company tidies itself, it could turn out to be worth more in pieces. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Watkins, Matthew O'Haren, Richard Kramer, Elliott, Goodyear, Jonathan Guilford, taints, Jeffrey Goldfarb, Aditya Sriwatsav, Sharon Lam Organizations: Goodyear Eagle, Watkins Glen International, Reuters, Goodyear Tire &, Elliott Investment Management, Electric, United States Steel, Goodyear, X, Alstom, Thomson Locations: , New York, USA
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe scale of revenue growth needed at big tech companies is daunting, says Richard KramerRichard Kramer, Managing Partner at Arete Research, discusses the busy week of tech earnings on tap.
Persons: Richard Kramer Richard Kramer Organizations: Arete Research
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailArete: Most tech valuations are justified by the duration of earningsRichard Kramer, Founder and Senior Analyst at Arete Research, discusses the key takeaways from tech results this earnings season.
Persons: Richard Kramer Organizations: Arete Research
Goodyear Tire to expand board in settlement with Elliott
  + stars: | 2023-07-25 | by ( ) www.reuters.com   time to read: +2 min
The firm urged the company to refresh the board, sell its stores and conduct an operational review. On Tuesday, Goodyear said it would establish a strategic and operational review committee. Elliott, which has a history of taking board seats at companies including Twitter and eBay, had previously criticized the tyre-manufacturer for mismanagement and lagging behind its rivals, Michelin and Bridgestone. "We have been encouraged by Goodyear's openness to taking actions necessary to realize its full potential," Elliott executives said in a statement on Tuesday. Evercore, Lazard and Goldman Sachs are financial advisers to Goodyear, while Paul Weiss the legal counsel.
Persons: Goodyear, Richard Kramer, Elliott, Lazard, Goldman Sachs, Paul Weiss, Nathan Gomes, Sriraj Organizations: Goodyear Tire &, Elliott Investment Management, Twitter, eBay, Michelin, Bridgestone, Evercore, Goodyear, Thomson Locations: Tyre, Akron , Ohio, Bengaluru
To implement its plan, Elliott is recommending adding five new directors to the board. Six members of the 12-person board (including CEO Richard Kramer) have served on the board for 11+ years. This, along with the underperformance and tenure of many directors makes for a compelling case for serious board reconstitution. Based on its history, we would expect this to be a diversified and qualified group of industry and professional directors with one Elliott executive. Elliott right now is working amicably with management and recommending potential directors as opposed to threatening to nominate their own slate of directors.
Its stock was hit harder than peers Apple and Alphabet , which also reported on Thursday evening. Shares of Apple were trading up about 4% on Friday morning while Alphabet was down about 1%. Amazon said it expects revenue of between $121 billion and $126 billion in the current quarter. Similarly, despite Alphabet's misses, analysts are bullish on its prospects for artificial intelligence and highlighted its strong core business. WATCH: Arete Research's Richard Kramer on the outlook for Apple, Amazon and Alphabet
Amazon's layoffs are nothing more than a rewind to last year
  + stars: | 2023-01-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon's layoffs are nothing more than a rewind back to where it was last yearRichard Kramer, Managing Partner at Arete Research, joins Worldwide Exchange to discuss layoffs from Amazon and other tech companies.
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