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☆ Wall Street is turning less bullish on tech darling ASML for several key reasons
▼ + stars: | 2024-09-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

Analysts at major Wall Street banks are getting more cautious on chip darling ASML , raising concerns about the critical chip equipment maker's demand outlook. Earlier this week, investment bank UBS downgraded ASML to "neutral" and cut its price target on the stock to 900 euros ($1,000.78) from 1,050 euros previously. Other Wall Street banks have subsequently come out with their own respective analyses on ASML — and they're more downbeat than they were before. The bank remains bullish on the stock, though, keeping ASML in its top pick for EU semiconductor equipment stocks. UBS cautioned ASML's machines could face a slowdown in demand due to an "architecture shift" to gate all around architecture, or GAA.

Persons: Morgan Stanley, ASML, ASML's, Morgan Stanley's, EUV, Biden, Christophe Fouquet, Jefferies Organizations: UBS, Intel, Bank of America, ASML's, Samsung, Nvidia, SK Hynix, Base Management, Dutch, Citi, Investment Locations: ASML, U.S, China, New York

☆ Mizuho's top June contrarian picks, where research firm is more bullish than the rest of Wall Street
▼ + stars: | 2024-06-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Of those seven stocks, Mizuho said its investment rating on Lowe's and PayPal were also above the Street consensus. Mizuho analyst David Bellinger's $280 price target implies that the stock could rally 29% from its Monday closing price. "We view Lowe's as decisively well-positioned as home improvement demand recovers and unleashes outsized, double-digit earnings expansion in the process," the analyst wrote. Similarly, financial technology platform PayPal has risen only about 4% this year, leaving its valuation "compelling" at current prices, according to Mizuho analyst Dan Dolev. Dolev's $90 price target is 42% above the stock's current price.

Persons: Mizuho, David Bellinger's, Lowe's, Bellinger, Dan Dolev, Dolev, Dolev's, Siti Panigrahi's, Panigrahi, — CNBC's Michael Bloom Organizations: Mizuho Securities, Stocks, Dow Jones, Nasdaq, Wall Street, PayPal, Home, Oracle, Nvidia, Oracle Cloud Infrastructure Locations: Mizuho

☆ Mojave Desert: How a seed bank in southern California is preserving an ancient ecosystem under threat
▼ + stars: | 2024-05-23 | by ( Samantha Bresnahan | ) edition.cnn.com time to read: +9 min

The result was the Mojave Desert Land Trust seed bank. In 2016, Mojave Desert Land Trust officially launched the seed bank project, which has since been described as a “Noah’s Ark” for southern California. A jar of seeds sits in one of three full refrigerators at the Mojave Desert Land Trust headquarters in Joshua Tree, California. Beau Molloy/CNN“We’ve already been able to provide seed to researchers who are studying the effects of climate change on specific species that we have in our seed bank,” Asbell adds. Beau Molloy/CNNRoughly 70,000 Joshua tree seeds are currently preserved in the seed bank, some of which could be planted in cooler locations, if needed.

Persons: birdsong, Madena Asbell, “, ” Asbell, Asbell, Beau Molloy, Kelly Herbinson, ” Herbinson, hasn’t, Corina Godoy, Gerber, MDLT, CNN “ We’ve, Joshua, It’s, Seuss, Herbinson, ”, ” CNN’s Adeline Chen Organizations: CNN, Land Trust, MDLT, Land, Mojave, Conservation Board Locations: California, Texas, Colorado, Mojave, Joshua Tree , California

☆ Alibaba Cloud suffers second service outage in a month
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

3D printed clouds and figurines are seen in front of the Alibaba Cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsBEIJING, Nov 28 (Reuters) - Alibaba's (9988.HK) cloud service said it suffered a near two-hour long disruption affecting customers in mainland China, Hong Kong and the United States on Monday, its second outage within a month. The impact was mainly felt by several of Alibaba Cloud's database management products, including PostgreSQL, Redis and MySQL editions. "From 09:16 Beijing time (0116 GMT) on November 27, 2023, Alibaba Cloud monitoring detected abnormalities in console and OpenAPI access for database products," Alibaba Cloud said in a statement posted on its websites on Tuesday. "This is hugely damaging to Alibaba Cloud's brand image as a reliable cloud service provider."

Persons: Dado, Alibaba, Feng Ruohang, Yelin Mo, Brenda Goh, Simon Cameron, Moore Organizations: REUTERS, Rights, Huawei, China Telecom, HK, IDC, Thomson Locations: Rights BEIJING, HK, China, Hong Kong, United States, Beijing, Shanghai, Virginia, U.S, East Asia, Southeast Asia, East, North America

☆ China rushes to swap Western tech with domestic options as U.S. cracks down
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +10 min

China spent 1.4 trillion yuan ($191 billion) replacing foreign hardware and software in 2022, marking a year-on-year increase of 16.2%, according to IT research firm First New Voice. Two firms awarded the Harbin tenders were subsidiaries of China Electronics Corporation and China Electronics Technology Group Corporation - both heavily targeted by U.S. sanctions. The U.S. Department of Commerce, China Electronics Corporation and China Electronics Technology Group Corporation did not return requests for comment. Despite heavy spending on domestic substitution, however, foreign firms are still dominant suppliers for banking and telecoms database management. Non-Chinese companies held 90% of market share for banking database systems at the end of 2022, according to EqualOcean, a tech consultancy.

Persons: Tyrone Siu, Kendra Schaefer, Mo Jianlei, Eric Zheng, Brenda Goh, Katerina Ang Organizations: REUTERS, Companies Beijing, Reuters, New, Trivium China, Liberation Army, Tech, Chinese Academy of Sciences, BMC, U.S, Cyberspace Security, China Telecommunications Corporation, Qualcomm, U.S . Treasury, Google, Apple, China Electronics Corporation, China Electronics Technology Group Corporation, Microsoft, Adobe, China Tobacco, Microsoft Windows, Chinese Academy of Engineering, European Union Chamber of Commerce, of Commerce, Shanghai, U.S . Department of Commerce, HUAWEI, Huawei, IDC, Financial, Lenovo, HK, Beijing, Thomson Locations: Dongguan, Guangdong province, China, BEIJING, Washington, State, Beijing, Gansu province, Harbin, Xiamen, U.S, American, Shanghai

☆ I quiet quit my job strategically over 8 months after feeling burnt out and overwhelmed. Here's exactly how I did it.
▼ + stars: | 2023-09-05 | by ( Robin Madell | ) www.businessinsider.com time to read: +7 min

Amy Zhang decided to quiet quit her job because she felt burned out and had outgrown it. I began creating a plan for my quiet quitting journey. My successor wanted to work hard because she knew she wasn't going to get this level of attention from me forever. Two months into my quiet quitting timeline, I went to Italy on a two-week family vacation. What I found during my eight months of quiet quitting is that it's easy to fall into a passive state and stay there.

Persons: Amy Zhang, It's, There's, COVID, — Organizations: Service Locations: Wall, Silicon, Italy

☆ UBS upgrades this stock it says can jump another 20% on AI excitement
▼ + stars: | 2023-08-29 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Analyst Karl Keirstead upgraded the database management company to buy from neutral and raised his price target by $20 to $140. "We believe GPU supply constraints could be enough to drive outsized performance in Oracle shares." Despite its stock price run-up this year, UBS thinks shares still have plenty of room to grow. Keirstead noted four positive catalysts for the company: AI startups may only be in their first quarter in ramping up their use of OCI. Less than half of sell-side analysts rate Oracle shares a buy.

Persons: Karl Keirstead, Keirstad, Keirstead, — CNBC's Michael Bloom Organizations: UBS, Oracle, Oracle Cloud, Nvidia Locations: ramping

☆ Ant Group plans restructuring, paving way for Hong Kong IPO - Bloomberg News
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 25 (Reuters) - Jack Ma-backed Ant Group (688688.SS) is planning a restructuring that will break off some non-core operations of its China financial-related business, Bloomberg News reported on Tuesday, citing people familiar with the matter. Once the restructuring is complete and Ant secures the license, it can prepare for a public listing in Hong Kong instead of reviving the dual Shanghai-Hong Kong listing plan that was suspended by Chinese authorities in 2020, Bloomberg said. Ant Group declined to comment on the report, while Alibaba did not immediately respond to a Reuters request for comment. Earlier this month, Ant Group announced a surprise share buyback that valued the fintech giant at $78.54 billion, well below the $315 billion touted in the suspended IPO. Alibaba said it would not participate in the buyback but would maintain its shareholding in Ant.

Persons: Jack Ma, Ant, Alibaba, Jyoti Narayan, Savio D'Souza Organizations: Ant, Bloomberg, Alibaba, HK, Ant Group, Thomson Locations: China, Hong Kong, Shanghai, Bengaluru

☆ A sustainable planet is possible with the help of cloud tech. Here's how an Asian partnership is working toward the future.
▼ + stars: | 2023-05-03 | by ( Sponsor Post | Created Insider Studios With Tata Communications | ) www.businessinsider.com time to read: +6 min

Alibaba Cloud, in partnership with Tata Communications, is developing digital solutions for a sustainable future. Alibaba Cloud's partnership with Tata Communications is built on a mutual understanding of the critical importance of sustainability for everyone. The partnership between Alibaba Cloud and Tata Communications has helped build a robust and elastic cloud infrastructure. "Seamless and intelligent hyperconnected ecosystems are how we power cloud giants like Alibaba Cloud to do what they do best." Together, Alibaba Cloud and Tata Communications are creating a futuristic vision for how businesses and people can live, work, and communicate.

☆ Breit Flows Aren’t the Be-All and End-All for Blackstone
▼ + stars: | 2023-01-27 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

Money swirls around Blackstone . Much of the headline news regarding Blackstone lately has been the much-discussed jump in redemption requests by wealthy individual investors from the nontraded Blackstone Real Estate Income Trust, or Breit. But after dropping on that news late last year, Blackstone’s shares have surged back. Its stock is up 26% so far in 2023, including more than 5.5% after its quarterly earnings report on Thursday. A big reason is that base management fees—one of Blackstone’s core ballasts—continue to grow.

☆ Redis Names Former Five9 CEO to Head Database Startup
▼ + stars: | 2022-12-05 | by ( Belle Lin | ) www.wsj.com time to read: +4 min

Database startup Redis Ltd. has named Rowan Trollope its new chief executive officer, effective Feb. 1. Mr. Trollope was CEO of the cloud-based customer-service software firm Five9 Inc. until Nov. 28, and had served in the role since 2018. After Mr. Trollope’s departure, former Five9 CEO Mike Burkland returned to his previous post. At Redis, Mr. Trollope will succeed Ofer Bengal, who co-founded the startup with Yiftach Shoolman in 2011 and has served as CEO since its founding. Mr. Trollope led Five9 through its plans to merge with Zoom Video Communications Inc. in September of last year.

☆ Startup Workspan raised $30 million to keep growing as it helps top tech companies like Microsoft, Cisco, and SAP manage relationships with partners
▼ + stars: | 2022-10-05 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +4 min

Ecosystem management tool Workspan has raised a $30 million Series C round. Workspan's tools help companies like Microsoft and Amazon Web Services co-sell with partners. It was there that he came up with the idea for what would become his next company, WorkSpan. Workspan was able to gain momentum quickly because of how necessary its tool is to large technology companies, Bawa said. Workspan has raised a total of $66 million in funding from investors like Insight Partners, Mayfield Fund, M12, and Redline Capital Management.

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