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Intuitive Surgical — Shares of the robotic surgery firm popped 3% after posting a first quarter earnings and revenue beat. Western Alliance — Shares slipped 2% after the firm missed earnings expectations in its latest quarter. Western Alliance reported earnings of $1.60 per share, while FactSet had estimated this at $1.64 per share. The company slightly missed revenue expectations, however, posting $20.20 billion, while analysts expected $20.41 billion. American Express — Shares slid 1.5% despite the financial services company posting a first-quarter earnings and revenue beat above FactSet estimates.
Persons: Ashley Helgans, Sephora, Shopify, Morgan Stanley, Wells, Biden, SLB, LSEG, FactSet, Proctor, Gamble, — CNBC's Hakyung, Jesse Pound, Samantha Subin Organizations: Jefferies, Netflix, Energy, Western, Western Alliance, Paramount, New York Times, Bloomberg, Sony Pictures Entertainment, Apollo Global Management, Skydance Media, Bentley Systems, Schneider Electric, American, American Express Locations: Canada, Wells, North America, — CNBC's Hakyung Kim, Tanana
Schneider Electric: Sustainability is good business
  + stars: | 2024-04-09 | 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 EmailSchneider Electric: Sustainability is good businessGwenaelle Avice Huet, executive vice president of Europe operations at Schneider Electric, discusses climate priorities and the push for sustainability.
Persons: Gwenaelle Avice Huet Organizations: Schneider, Sustainability, Schneider Electric
Data centers house vast amounts of computing power needed for AI workloads, and that need is set to grow as many tech companies are rapidly developing infrastructure for artificial intelligence. The bank named three stocks to play the trend: U.S.-listed power management firm Eaton , French energy tech firm Schneider Electric and U.S. power tech firm Cummins . It says Eaton is the key U.S. play on data centers, with 14% exposure and "broad favourable trends" in electrification, while Cummins has "favourable backup power exposure" to data centers. UBS gave Eaton a price target of $330, representing marginal downside. It gave the stock a price target of 250 euros ($270), or around 20% potential upside.
Persons: Eaton, Cummins, Schneider, — CNBC's Michael Bloom Organizations: UBS, Capital Goods, Schneider Electric
Jim Cramer reviews Citi's European 'Super Seven'
  + stars: | 2024-03-08 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
CNBC's Jim Cramer on Friday reviewed the "Super Seven," mega cap European stocks Citi recently named as alternatives to the Magnificent Seven, but with lower valuations. "I want you to think of the Super Seven as a shopping list of high-quality European stocks that could be very attractive on a pullback," he said. Novo Nordisk " came out with the original GLP-1, diabetes and weight loss drug Ozempic. Richemont SAP Schneider Electric Eaton Ferrari"As great as the Super Seven may be, you're not exactly early to any of these stories — most of these stocks are trading at or near their all-time highs," Cramer said. "Of course, you could say the same thing about the Magnificent Seven, but it makes me a little queasy to recommend something that's already had a huge run."
Persons: CNBC's Jim Cramer, Beata Manthey, Bullish, Dior, SAP Schneider Electric Eaton, Cramer, that's Organizations: Citi, Nordisk, Givenchy, SAP Schneider Electric
Citi has identified European stocks it says are similar to the high-flying " Magnificent Seven " U.S. technology stocks, but trade at cheaper valuations leaving more room for them to rise. Citi's resulting Super Seven picks are Novo Nordisk , ASML , LVMH , SAP , Schneider Electric , Richemont and Ferrari . All of the stocks stocks also trade in the United States. Despite the rally over the past year, Citi points out that as a group, the Super Seven have lagged the Magnificent Seven, with 70% less appreciation since early 2023, leaving more upside potential. Looking ahead, Citi said the Super Seven was well positioned to continue outperforming should current "narrow" market conditions persist, and cautioned against selling stocks on the basis of a narrow market leadership.
Persons: Beata M, — CNBC's Charlotte Reed Organizations: Citi, Nvidia, Apple, Microsoft, Meta, Novo Nordisk, ASML, SAP, Schneider, Ferrari Locations: Europe, LVMH, United States
Salesforce CEO Marc Benioff told CNBC's Jim Cramer on Wednesday that his company's Einstein Copilot product is different from other artificial intelligence programs because of the way it uses customer data to make decisions. "We already have tremendous user interfaces at Salesforce," Benioff said. "Our Sales Cloud, our Service Cloud, our Marketing Cloud, even Tableau, even Slack, these are amazing ways to talk to that data. He elaborated, saying Salesforce is built "on a rich fabric of data and metadata," and it serves companies including Amazon , IHG and Schneider Electric . Salesforce reported earnings Wednesday, and while earnings surpassed Wall Street's expectations, revenue guidance came in weak.
Persons: Marc Benioff, CNBC's Jim Cramer, Einstein, Benioff, Slack Organizations: Amazon, Schneider
“And, of course, South Carolina is in the heart of the Southeast.”Job seekers check-in to a job fair at a Schneider Electric manufacturing facility in Hopkins, South Carolina, in January 2023. “You can reach about twice as many people within an 8-hour drive from South Carolina as you can from Florida,” he said. “The housing market and the manufacturing industry, particularly in South Carolina, saw a major increase in demand,” Von Nessen said. South Carolina home sale activity fell by double-digits in 2022 but has since started to stabilize, he said. “We’re just treating so many more patients that we don’t have capacity,” said Thornton Kirby, CEO of the South Carolina Hospital Association.
Persons: ” Joseph Von Nessen, Darla Moore, ” Von Nessen, , it’s, It’s, Sean Rayford, Barrie Kirk, , Von Nessen, Micah Green, “ We’re, Thornton Kirby, Malcolm Isley, “ We’ve, ” Isley, Arnold Kamler, Inc . Kent, Kent, Kamler, Nikki Haley, , Daniel Slim, Scott Huffmon, Donald Trump, Haley, they’d Organizations: CNN, Palmetto State, of Labor Statistics, University of South, of Business, North, SC Council, Competitiveness, Bureau of Labor Statistics, Labor, Midlands Technical College, Technical College Midlands Technical College, Schneider, Bloomberg, Getty, Census, US Federal Reserve, US News, South Carolina Hospital Association, , Prisma, Health Prisma Health, Greenville Technical College, Health Center for Health, Life Sciences, Kent International, Walmart, Kent, Inc ., Winthrop University, , Charleston City Market, Winthrop’s Center, Public, Research, Palmetto, Republican, Trump, CBS Locations: South Carolina, South, , Carolina, Myrtle Beach , South Carolina, North America, University of South Carolina, West Columbia, United States, Hopkins , South Carolina, Florida, droves, Myrtle Beach, , Manning, New York City, Georgia, Charleston, AFP
A record amount of renewable energy, led by solar, was added to the grid. It was the opposite story for wind power. They generated a record 41% of US power in 2023. Rowlands-Rees said that falling gas prices made it the cheapest form of energy in 2023. The power sector, as recently as 2016, was the top emitter.
Persons: BloombergNEF, Tom Rowlands, Rees, BloombergNEF's, Rowlands, , Biden, Jeannie Salo Organizations: Service, Investments, Business, Companies, Industry, Schneider Electric, Toyota Locations: China, America, Japan, Southeast Asia, Coast, New York, Massachusetts, Georgia, North Carolina, Business
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'It was good to have businesses at the table' at COP28, says Schneider Electric CEOPeter Herweck, CEO of Schneider Electric, discusses artificial intelligence, the energy transition and green hydrogen with CNBC.
Persons: Peter Herweck Organizations: Schneider, Schneider Electric, CNBC
But the potential of 5G technology could be enormous and a major boon to businesses, tech leaders told Business Insider. She added that nearly 20 countries around the globe still lacked 4G connectivity but could be brought up to date using 5G. "5G, and specifically private 5G, is acting as a catalyst that is driving customers toward change," he said. "Currently, the site showcases IoT connectivity, edge analytics, and predictive analytics to drive sustainability and energy efficiency on a private 5G network," Sandhu said. Alongside Schneider Electric, NTT has customers including Frankfurt Airport (Europe's largest private 5G network) and the city of Las Vegas (the largest private 5G network in the US) signing up to develop private 5G and edge-computing capabilities.
Persons: Marga Hoek, Hoek, Matt Cranfield, Andy Lindsell, Lindsell, Parm Sandhu, NTT Ltd . Sandhu, Sandhu Organizations: Accenture, Business, Tech, Cranfield, NTT Ltd, NTT Ltd ., 5G, Schneider Electric, NTT, Frankfurt Locations: Marga Hoek Hoek, Lexington , Kentucky, Las Vegas
FactSet data shows that 70% of the 43 analysts covering Snowflake have buy or overweight ratings on the stock. Year-to-date shares in the biotechnology and life sciences equipment manufacturer are down nearly 4%, but Ghosh remains positive. Schneider Electric Elsewhere, French energy management company Schneider Electric is on the radar of Steven Glass, managing director and investment analyst at Pella Funds. "We're very bullish, although it's not as cheap as it used to be on Schneider Electric. Year-to-date, shares in Schneider Electric are up around 28%.
Persons: Karen Kharmandarian, Colette Kress, Warren Buffett, Rahul Ghosh, Rowe Price, Ghosh, Steven Glass, it's, Glass, Schneider Organizations: Big Tech, CNBC Pro, Nvidia, Thematics Asset Management, U.S, Robotics Fund, Berkshire Hathaway, BE Semiconductor Industries, BE Semiconductor, BE, Danaher Corp, Schneider, Pella Funds Locations: China, Snowflake, Danaher, Pella
The logo of ABB is seen at an office building in Zurich, Switzerland September 10, 2020. The goals, announced ahead of ABB's investor day in Italy, were an upgrade from the previous annual revenue growth target of 4% to 7%. Most of the sales will come from internal growth, ABB said, with an expected five to seven percentage points of extra revenue, while an additional one to two percentage points is expected from acquisitions. ABB, which supplies industry and transportation networks with robots, electrification equipment and motors, also raised its core profitability target to a range of 16% to 19%. The International Monetary Fund recently downgraded its forecast for global growth for next year, with advanced economies expected to significantly slow as interest rates rise.
Persons: Arnd, France's Schneider, Bjorn Rosengren, John Revill, Tom Hogue, Jacqueline Wong Organizations: ABB, REUTERS, Rights, Germany's Siemens, Monetary Fund, Thomson Locations: Zurich, Switzerland, Swiss, Italy, Frosinone
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSchneider Electric: No one-size-fits-all solution for sustainabilityGwénaelle Huet, executive vice president of Europe operations for Schneider Electric, discusses the challenges facing corporates in meeting their ESG targets.
Persons: Gwénaelle Huet Organizations: Schneider, Schneider Electric
Montgomery County, Maryland aims to transition its electric bus fleet to zero-emissions by 2035. The microgrid is set to power a transit center for 200 zero-emissions vehicles and be the first on the East Coast to produce green hydrogen from renewables . Montgomery County opted to build a microgrid so it didn't have to rely on power from Pepco, the local utility. A rendering of another sustainable transit depot that Alphastruxure will build in Montgomery County, Maryland. "So we're going to have resilience, we're going to have green power 98% of the time, and we're getting our greenhouse-gas emissions down."
Persons: Catherine Boudreau, Michael Yambrach, Yambrach, Montgomery, AlphaStruxure, Carlyle, that's, Don Scheuerman, we're Organizations: Service, Montgomery, Schneider Electric, Montgomery County Department of General Services Locations: Montgomery County , Maryland, Silver, Montgomery, Montgomery County, Pepco
Nov 7 (Reuters) - Enable, a startup that sells rebate software to trading partners, has raised $120 million in a latest funding round that valued it at $1 billion, the company said on Tuesday. Its previous capital raise over a year ago had put Enable's value at over $800 million. The fresh private funding in a slowing market for growth stage financing comes as the software firm more than doubled its revenue, according to the company. Founded in the UK in 2016 before relocating its headquarters to San Francisco in 2020, Enable offers cloud-based software to manufacturers, distributors and retailers to manage the rebate program in their supply chain. "Given the gap in the market, they're able to persist and grow despite a lot of the macro (economic conditions).
Persons: We've, Andrew Butt, They're, Arsham Memarzadeh, Krystal Hu, Bill Berkrot Organizations: Lightspeed Venture Partner, Schneider, Lightspeed, Thomson Locations: San Francisco, U.S, Canada, Europe, Australia, The U.S
[1/2] An Ericsson sign is seen at the third China International Import Expo (CIIE) in Shanghai, China November 5, 2020. REUTERS/Aly Song Acquire Licensing RightsBRUSSELS, Nov 6 (Reuters) - Electronics makers Siemens (SIEGn.DE), Ericsson (ERICb.ST) and Schneider Electric (SCHN.PA), along with industry group DigitalEurope warned on Monday that onerous proposed EU rules targeting cybersecurity risks of smart devices could disrupt supply chains on a scale similar to during the pandemic. They said disruptions could hit millions of products, ranging from washing machines to toys, cybersecurity products, as well as vital components for heat pumps, cooling machines and high-tech manufacturing. "We risk creating a COVID-style blockage in European supply chains, disrupting the single market and harming our competitiveness," the companies said. They also want more flexibility to self-assess cybersecurity risks.
Persons: Aly, Thierry Breton, Vera Jourova, Robert Bosch, Foo Yun Chee, Rod Nickel Organizations: Ericsson, China, REUTERS, Rights, Electronics, Siemens, Schneider, European, European Union, Nokia, Robert, Robert Bosch GmbH, EU, Thomson Locations: Shanghai, China, Rights BRUSSELS, EU, Slovakian
A nonpartisan business group that advocates for clean energy estimates that 403,000 jobs will be created by the 210 major energy projects announced since the Inflation Reduction Act took effect in mid-2022. Battery storage is expected to support 48,000 jobs, and solar is expected to support 35,000, both annually for five years. “As community colleges develop a rhythm for training the type of workers these companies need, that’s going to enhance the appeal of our workforce and state as a business location to more and more these clean energy companies," he said. Although investments in clean energy are “on hyperdrive,” other factors were supporting the clean energy labor transition before the IRA, said Joseph Kane, a researcher at the Brookings Institution nonprofit research organization. Labor shortages in the clean energy sector, particularly in construction, manufacturing, and electrical work are notable, said Thomas Kwan, director of sustainability research at Schneider Electric, an energy management and industrial automation company.
Persons: , Bob Keefe, Mateo Jaramillo, ” Jaramillo, Christopher Chung, , Chung, Joseph Kane, Kane, Thomas Kwan, Kwan Organizations: Environmental Entrepreneurs, EV, Economic Development, of, Brookings Institution, Labor, Schneider Electric, AP Locations: U.S, Weirton , West Virginia, West Virginia, of North Carolina, North Carolina
The logo of Swiss power technology and automation group ABB is seen during the company's annual news conference in Zurich, Switzerland February 28, 2019. ABB said it anticipated low- to mid-single digit comparable revenue growth in the fourth quarter after reporting a comparable 11% increase in the third quarter. "Orders in China declined at a low single-digit comparable growth rate particularly hampered by weakness in robotics and construction demand," said Chief Executive Bjorn Rosengren in a statement. For the full year 2023, the group said it expected comparable revenue growth to be in the low double-digit percentage range, and an operational margin to be in the range of 16.5% to 17.0%. Previously it had said it expected revenue growth of at least 10% and an operational margin above 16%.
Persons: Arnd, France's Schneider, ABB's, Bjorn Rosengren, Noele Illien, Rachel More, Tomasz Janowski Organizations: ABB, REUTERS, Rights, Germany's Siemens, Thomson Locations: Swiss, Zurich, Switzerland, China, United States, India, Asia, Europe
Gertjan van der Geer, a senior investment manager at the firm, describes megatrends as large social, economic, political, environmental, or technological transformations that significantly impact the economy, society, cultures, or businesses. Additionally, five criteria must be met before Pictet creates a thematic fund, van der Geer said. When it comes down to picking the right basket of stocks, van der Geer noted that a company's fundamentals are key. And there are a few things that we are looking for in these companies," van der Geer said. And one of the key ways to improve our CO2 footprint globally is to reduce the unnecessary pollution," van der Geer said.
Persons: they're, Gertjan van der Geer, Pictet, van der Geer, It's, Van der Geer Organizations: Microsoft, Apple, Pictet, Management, Premium Brands, Security, Health, Schneider, Clean Energy, Nordisk, Asml, Roper Technologies, Kla Corp, Republic Services Locations: megatrends
The symposium was intended to “increase financial support to help stabilize foreign trade and foreign investment” and improve the “investment environment” for foreign business, the statement said. In the first eight months of this year, foreign direct investment into China fell 5.1% from a year ago, according to data released by China’s commerce ministry on Sunday. A separate measure for foreign investment painted a grimmer picture. Companies that attended PBOC’s meeting called on Beijing to improve its business environment, its statement added. “[We] will continue to optimize policy arrangements, create a market-oriented, legal and international first-class business environment,” Pan told the companies.
Persons: Gongsheng, JP Morgan, Tesla, Gina Raimondo, , ” Pan Organizations: Hong Kong CNN, People’s Bank of China, HSBC, Deutsche Bank, DB, BNP, Japan’s, Bank, BASF, Schneider, State Administration of Foreign Exchange, SAFE, American Chamber of Commerce, US, Companies Locations: China, Hong Kong, Shanghai, Southeast Asia, Beijing
Analysts at Barclays have identified electrification as a "mega theme" and have named several stocks set to benefit. "The electric grid plays a key electrification and energy transition role," they said. Barclays' overweight rating corresponds to a buy recommendation. Barclays is overweight-rated on General Electric despite its plans to spin off GE Vernova, which comprises its power, renewable energy, digital and energy financial services businesses, in 2024. GE expects Vernova organic revenue to rise by mid single-digits on the year, with its renewable energy division revenue up high single-digits.
Persons: — CNBC's Michael Bloom Organizations: Barclays, U.S . Department of Energy, Stock, Schneider Electric, nVent, General Electric, GE Vernova, GE Locations: U.S, North America
Last summer, two data centers in London experienced heatwave-linked failures, with the incident affecting clinical IT systems at a number of hospitals. Data centers have become "a very important aspect of running entire business models, and even our day-to-day lives. Losing the information processed by data centers would be detrimental not only to companies and individuals, but also governments and society as a whole. This puts the firms that develop and operate data centers in a tricky position, not least because today's facilities are resource hungry. Companies can deploy a range of innovations to put these metrics at the core of tomorrow's data centers.
Persons: Pankaj Sharma, Schneider, we're, it's, Sharma Organizations: Facebook, Secure, Ofcom, US, McKinsey, EU, International Energy Agency, Pact, European Commission . Companies, Amazon Web Services, Google, IBM, Companies, Schneider Electric, Insider Studios Locations: London, Paris, Europe
As technology shapes customer habits, entire industries, and society at large, digital transformation has become a critical priority for every company. A February report from Deloitte found effective digital transformation initiatives could increase market capitalization by a staggering $1.25 trillion. From artificial intelligence to extended reality, a variety of technologies are shaping digital transformation strategies. He said he expected industries with "significant human implications," such as healthcare and space exploration, to benefit the most from digital transformation. Extended reality — a combination of virtual reality, augmented reality, and mixed reality often called "XR" — is another technology that could revolutionize organizational cultures.
Persons: Nigel Vaz, Publicis, It's, Vaz, Jean Pelletier, Pelletier, Schneider, Beth Johnson, Johnson, Tom Fairbairn, Tom Fairbairn Fairbairn, Duncan Roberts, Roberts Organizations: Technology, Morning, Deloitte, Netflix, Schneider, Schneider Electric, Citizens Bank, Amazon Prime, Amazon Web Services, Company, Imperial College London Locations: Cognizant
Whether mandatory return-to-office policies will make the climate crisis worse is an important question, especially as scientists predict that 2023 will be the hottest year on record. But determining whether working from an office is worse for the planet isn't that simple. Failing to find a balance between boosting productivity at the office and protecting the planet risks making the crisis worse. Even though the study only covered the early part of the pandemic, it illustrated how a shift away from office work can have some positive effects for the planet. "There was no clear answer to whether work from home was better or worse for the environment in general terms."
Persons: Rachel, it's, JPMorgan Chase, James Elfer, Elfer, It's, Ty Colman, Colman, Ralf Martin, Martin, teleworking, Megan Litke, We've, Litke, Efler, Operta's Colman, JPMorgan Chase —, Apple, Tony Johnson, Schneider, Johnson, That's, she's, Catherine Boudreau Organizations: Amazon, Google, JPMorgan, Fortune, Employees, Greenhouse, International Energy Agency, IEA, Imperial College Business School, American University, Energy, Target, Dell, Apple, Schneider Locations: , Maryland, Greater London, London, Washington , DC, Williams, Sonoma, North America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHuge uptick in consumers looking for green products, says Schneider ElectricMike Hughes of Schneider Electric discusses the demand for sustainable products and the outlook for energy.
Persons: Schneider, Mike Hughes Organizations: Schneider Electric
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