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☆ Apple and Alphabet stocks rally on report Google's Gemini could power next-gen iPhones
▼ + stars: | 2024-03-18 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Bloomberg reported Monday Apple and Google are in talks for iPhones to integrate Gemini AI. "The potential deal is a validation moment for Google's generative AI positioning," Wedbush said. AdvertisementBloomberg reported Monday that Google and Apple are in talks to potentially integrate Gemini's generative AI technology with iPhones, and shares of both companies soared on the news. "The potential deal is a validation moment for Google's generative AI positioning," Wedbush analyst Scott Devitt said in a note Monday. AdvertisementSources told Bloomberg that Apple could license Gemini to support new software coming to iPhones this year, adding that Apple has held similar discussions with OpenAI.

Persons: Wedbush, —, Scott Devitt, Elon Musk, Apple, Devitt Organizations: Bloomberg, Apple, Google, iPhones, Gemini, Service, Bank of America, Al Locations: New York, Cupertino

A logo of the Amazon fulfillment is seen outside the Amazon fulfillment center in Kent, Washington, U.S., October 24, 2018. Same-day delivery is now offered in at least 90 cities, free for Prime members while non-members pay $9.99. The retailer invested heavily in 2020 and 2021 in logistics to make same-day delivery, which it introduced in 2015, available in more places. Amazon packs its same-day delivery centers with its top 100,000 products. By comparison, analysts forecast Walmart will show a 1% decline in e-commerce revenue for the third quarter when it reports in November.

Persons: Lindsey Wasson, Arun Sundaram, Sarah Mathew, Mathew said, Mari Shor, Sundaram, Scott Devitt, Group's, Devitt, Arriana McLymore, Cynthia Osterman Organizations: REUTERS, Amazon, Reuters, Columbia Threadneedle, Walmart, Thomson Locations: Kent , Washington , U.S, Temu, New York

☆ Instacart IPO banks tout e-grocery shopping potential, but challenges loom
▼ + stars: | 2023-10-16 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

REUTERS/Cheney Orr/File Photo Acquire Licensing RightsOct 16 (Reuters) - Most Wall Street brokerages, including J.P.Morgan and Goldman Sachs, kicked off coverage on Instacart (CART.O) with a bullish view, betting on the grocery delivery app's growth amid a shift to online shopping. The stock — following a lukewarm debut in September — closed at $25.57 on Friday, below its $30 initial public offering (IPO) price. At least half of Instacart's 20 IPO underwriters have initiated coverage with their top ratings after the quiet period ended. Instacart's slow growth compared to rivals is a top concern, as a reduction in food stamp benefits and a shift back to in-store shopping could limit GTV growth, according to Piper Sandler analyst Alexander Potter. As of Friday, the six brokerages that were not involved in the IPO started coverage with an average rating of "hold", LSEG data showed.

Persons: Eric Cohn, Cheney Orr, Goldman Sachs, —, Baird, Colin Sebastian, Scott Devitt, Justin Post, Piper Sandler, Alexander Potter, Savyata Mishra, Shilpi Majumdar Organizations: Safeway, REUTERS, J.P.Morgan, underwriters, Walmart, Wedbush, BofA Global Research, Thomson Locations: Tucson , Arizona, U.S, Instacart, Bengaluru

☆ Where Uber's climate and autonomous driving goals will meet in the future
▼ + stars: | 2023-08-24 | by ( Tim Mullaney | ) www.cnbc.com time to read: +10 min

"For most of our history, profitable wasn't the first thing that came up when you asked someone about Uber," Khosrowshahi said on Uber's second-quarter conference call Aug. 1. The $1 a ride alone can add up to $4,000 to a driver's annual revenue, the company says. All of them will compete for customers on Uber's platform much as hotels search for business on Expedia.com – a business once run by Khosrowshahi. Indeed, one threat to Uber's current status as a market darling is if AV makers, especially Tesla, decide to compete with Uber directly for riders, Zino said. Khosrowshahi told Sellers that 10-20% of Uber drivers may soon be robots, but said he still thinks more people will be driving for Uber than there are today.

Persons: Angelo Zino, Uber, Savannah, Khosrowshahi, Dara Khosrowshahi, Zino, Scott Devitt, Morgan Stanley's Brian Nowak, undercharging, They've, Devitt, –, Hertz, That's, Tracy Lynn Young, Tesla, they've, Cruise, AVs, Sellers Organizations: GM, General Motors, Ideas, Uber Technologies, Aurora, Wedbush Securities, Hyundai, Tesla, EVgo, EVs, TrueCar.com, Uber, CNBC, Hertz, Waymo, Cruise, Khosrowshahi Locations: California, San Francisco, Pittsburgh, Hyundai Kona, London, U.S, North America, Atlanta

☆ As long as Amazon controls its own labor costs it has an advantage over UPS and FedEx: Scott Devitt
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAs long as Amazon controls its own labor costs it has an advantage over UPS and FedEx: Scott DevittScott Devitt, Wedbush equity research analyst, joins 'Closing Bell Overtime' to talk his opinion that Amazon's core business is underappreciated on Wall Street.

Persons: Scott Devitt Scott Devitt Organizations: UPS, FedEx

☆ Gloomy Spirit, Expedia reports drag travel stocks lower on demand slowdown fears
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

A Spirit Airlines jet taxis from Newark Liberty International Airport in Newark, New Jersey, U.S. December 6, 2019. REUTERS/Chris Helgren/File PhotoAug 3 (Reuters) - U.S. travel stocks fell in early trading on Thursday following downbeat quarterly reports from Spirit Airlines (SAVE.N) and Expedia (EXPE.O) that amplified concerns domestic demand may be easing after a strong rebound from pandemic lows. Spirit, which mainly operates on domestic routes, also forecast weaker-than-expected revenue for the third quarter, with Citi analysts citing the effect from travel demand shifting to international from domestic. Adding to the gloom, online travel firm Expedia Inc (EXPE.O) reported smaller-than-expected bookings for the second quarter, even as it said travel demand remained "strong." "We believe this is further evidence of softening in U.S. travel demand trends while international growth continues to outperform," Wedbush analyst Scott Devitt said in a note.

Persons: Chris Helgren, Gross, Scott Devitt, airfares, Priyamvada, Kannaki, Pratyush Thakur, Sriraj Organizations: Spirit Airlines, Newark Liberty International Airport, REUTERS, Citi, Southwest Airlines, Alaska Air, Delta Air Lines, United Airlines, American Airlines, Expedia Inc, Thomson Locations: Newark , New Jersey, U.S, Southwest, Bengaluru

☆ Amazon charts its own course on A.I., leaning on its strengths in cloud and e-commerce
▼ + stars: | 2023-07-11 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

AI in advertising Amazon is not only differentiating its gen AI strategy by leveraging the cloud, but it's also incorporating AI in e-commerce to support its ad business. Amazon Prime Day Amazon Prime Day, the global shopping event that attracts consumers seeking huge cost-saving deals, on a variety of products will be held July 11 and 12 in 24 countries. Coupled with the cloud, e-commerce is the other big piece of what Amazon is all about. The 48-hour event is expected to bring in $8 billion in U.S. e-commerce sales, according to data by Insider Intelligence. Still, Insider Intelligence data shows Amazon Prime Day e-commerce sales will surpass that of competing retailers.

Persons: Andy Jassy, Scott Devitt, Devitt, Andrew Lipsman, it's, Lipsman, Sellers, Gene Munster, Jim Cramer's, Jim Cramer, Jim Organizations: Amazon Web Services, CNBC, Amazon, Microsoft, Nvidia, AWS, Insider Intelligence, Google, Deepwater Asset Management, Intelligence, Amazon CNBC Locations: U.S

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