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Miller's team compared AI's growth with past tech waves, finding consistent growth rates. In fact, the generative-AI wave looks a lot more like past tech waves than its revolutionary capabilities would suggest. That "rule of three" theory puts the value of the AI wave at about $20 trillion. Miller likened the AI wave to the mobile wave in about 2009, when there were few applications for the iPhone. "So the question is if compute is the primary underlying driver of economic activity, economic growth, economic opportunity, then there's an argument that it's actually bigger."
Persons: Ben Miller, Miller, Nvidia wouldn't, , Jensen Huang, Everybody's, Anthropic's Claude, Fundrise, shortsighted, it's, We'll, they're Organizations: Nvidia, Service, Cisco, Intel, Business, Adobe, AMD, Meta, Microsoft, Bloomberg, IDC
Vice President Kamala Harris is meeting with Ukrainian President Volodymyr Zelenskyy during a trip to the U.S., while former President Donald Trump isn’t, highlighting the growing partisan division over a key foreign policy issue. “The president of Ukraine is in our country, and he’s making little nasty aspersions toward your favorite president, me,” Trump said Wednesday in North Carolina. “Every time Zelenskyy comes to the United States, he walks away with $100 billion,” Trump said Tuesday in Georgia. “I want the war to stop,” Trump when he was pressed during his only debate with Harris. A senior Trump administration official echoed Trump to say the circumstances of any future settlement deal grow more fraught by the day.
Persons: Kamala Harris, Volodymyr Zelenskyy, Donald Trump isn’t, Harris, Zelenskyy, , ” Trump, It’s, ” Zelenskyy, Trump, Moscow —, , we’re, Joe Biden, Hunter, Biden, Biden's, Sen, JD Vance, Vladimir Putin shouldn’t, Vance, Trump ”, Cartwright, Reid Smith, Charles Koch, ” Sen, Bob Casey, Matt Cartwright, Mike Johnson, ” Johnson, Oksana, Putin, Philip Gordon, Obama, Putin “, “ That’s, Andrzej Duda, Smith Organizations: White, Trump, United Nations General Assembly, Russia, Republicans, Yorker, New, NBC News, Casey, Democratic, Senate, Zelenskyy, General Assembly, Ukraine Locations: U.S, Ukraine, North Carolina, Moscow, United States, Georgia, Russia, Scranton , Pennsylvania, R, Ohio, Scranton, Pennsylvania, Russian, Kyiv, Europe, Poland
"Ultimately shirking fiduciary responsibility to employees, consumers, and shareholders." Twenty civil rights organizations sent a letter Thursday to Fortune 1000 companies calling for them to recommit to diversity, equity and inclusion, after several major companies scaled back their efforts. She emphasized that LGBTQ+ consumers have $1.4 trillion of buying power, as reported by the National LGBT Chamber of Commerce. But a small, well-funded, and extreme group of right-wing activists is attempting to pressure companies into abandoning their DEI programs. Abandoning DEI will have long-term consequences on business success -- ultimately shirking fiduciary responsibility to employees, consumers, and shareholders.
Persons: Bill Ackman, Molson Coors, Harley Davidson, George Floyd, Forman, Kelley Robinson, CNBC's, Robinson, Brown, Lowe's, John Deere, Harley, Davidson, Edelman Organizations: National Action Network, Molson, Ford, Tractor Supply, Human Rights, HRC, Brown, National LGBT Chamber of Commerce, Molson Coors, . Tractor Supply, Companies, McKinsey & Company, Pew Locations: New York City, Rural, United States
All of our Super Six megacaps were higher, even Club stock Apple was pushing to stay in the green after getting mixed reviews on Monday's iPhone 16 event. That's an interesting line because you could argue that Starbucks needs to pullback its aggressive expansion plans in the world's second-largest economy. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Daniel Pinto, Pinto, JPMorgan's, else's, Jamie Dimon, Wells, Morgan Stanley, ramping, Brian Niccol, Niccol, Buster's, Jim Cramer's, Jim Organizations: CNBC, ., Apple, JPMorgan, Barclays Global Financial Services Conference, Dow, Starbucks, The Club, GameStop, Dave, Jim Cramer's Charitable Locations: Banks, U.S, United States, China
Read previewSen. JD Vance of Ohio has come a long way since graduating from Yale Law School in 2013. AdvertisementThe Marine veteran enrolled at Yale Law School in 2010 after graduating from Ohio State University. In his 2016 memoir "Hillbilly Elegy," Vance likened his year at the Ivy League institution to attending a kind of "nerd Hollywood." Vance's bestselling memoir "Hillbilly Elegy" wouldn't have existed without Chua's helpJD Vance released his memoir "Hillbilly Elegy" in 2016. In the "Acknowledgments" section of "Hillbilly Elegy," Vance thanked both Bennett and Chua for their support.
Persons: , Sen, JD Vance, Donald Trump, JD, Trump, Vance, Peter Thiel, Thiel, Amy Chua, Chua, Chua's, Amy Chua's, Bill Tompkins, Tina Bennett, Bennett, Tina, Tom Brokaw, Chua JD Vance, Usha Chilukuri, Anna Moneymaker, he'd, Usha, Chilukuri, America's Hitler, I'm, Trump's, J.D, @JDVance1, Brett Kavanaugh, Edward Luce Organizations: Service, Yale Law School, America, Business, Ohio State University, Ivy League, Yale, Harvard, Duke Law School, Getty, Trump, Supreme, Financial Times Locations: Ohio, United States of America
Read previewAfter nearly 25 years of headhunting for the corporate elite, I've seen it all. But I've seen too many candidates rest on their laurels, assuming their existing Rolodex (yes, some still have those) is enough. I've seen it happen, and it's not pretty. I've seen candidates lowball themselves out of insecurity, and others demand outrageous packages out of hubris. I've seen candidates ghost companies after multiple rounds of interviews or respond poorly to rejection.
Persons: , I've, they're, it's, I'm, Skip, you'll, It's, today's, Deepali Vyas, Tess Martinelli, tmartinelli@businessinsider.com Organizations: Service, Business, Google
Hal Lawton, the chief executive of the Brentwood, Tennessee-based company, had said these initiatives “make great business sense for Tractor Supply.”But Tractor Supply has decided that all of those risks are now worth ignoring. By walking away from diversity and climate goals, Tractor Supply has become the latest corporate giant to retreat from progressive initiatives it once promoted, joining Bud Light, Target and others. Tractor Supply declined to comment on these statements. Tractor Supply’s customer base has historically been primarily older men, who lean Republican, but Tractor Supply has increasingly tried to draw Millennials and women, who tend to favor Democrats. Tractor Supply’s reversal could hurt it with these customers, who could be crucial as the company’s historic base ages out of the market.
Persons: Hal Lawton, Bud, , Nooshin Warren, “ They’re, ” John Boyd, Steve Helber, Robby Starbuck, , It’s, ” Boyd, Donald Trump, Joe Biden, ” Lawton, ” Eric Bloem, George Floyd, Bill Ackman, Elon Musk, They’ve, Chick, Bud Light, Jeff Chiu, Bud Light’s, influencer Dylan Mulvaney, CNN’s Eva Rothenberg Organizations: New, New York CNN, Tractor Supply, Supply, Human Rights, Bud Light, University of Arizona, National Black Farmers Association, AP Tractor Supply, Human, Tennessee’s, Congressional District, , Black Farmers Association, CNN, , Tractor, Republican, Pew, Democratic, Disney, Nike, Anheuser, Busch InBev, Target Locations: New York, Brentwood , Tennessee, United States, America, Minneapolis
Tractor Supply Co. backtracks on DEI roles and goals
  + stars: | 2024-06-29 | by ( Eva Rothenberg | ) edition.cnn.com   time to read: +6 min
New York CNN —Tractor Supply Company has eliminated its diversity, equity and inclusion initiatives as part of what the retail chain says is a push to distance itself from “nonbusiness activities” after conservative backlash from some of its customer base. “You can’t say you’re going to try to do at Tractor Supply what they do at the Apple headquarters in Cupertino, California — that’s definitely not going to work,” he said. “Tractor Supply Co is turning its back on their own neighbors with this shortsighted decision,” Eric Bloem, vice president of Programs and Corporate Advocacy at the Human Rights Campaign, told CNN in a statement Saturday. This is why the Tractor Supply — and most of the country’s biggest employers — have worked with us for years to create inclusive policies and practices. Those are the parts that business leaders aren’t thinking about as they are folding on DEI.”
Persons: , , Robby Starbuck, Starbuck, X, ” Shaun Harper, Harper, that’s, ” Eric Bloem, , Bud Light’s, influencer Dylan Mulvaney Organizations: New, New York CNN — Tractor Supply Company, Supply, Tennessee’s, Congressional, Tractor Supply, University of Southern, CNN, Tractor, National FFA Organization, Apple, , Human Rights, , Companies, Anheuser, Busch InBev, Target Locations: New York, University of Southern California, Brentwood , Tennessee, Cupertino , California, United States
Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Below $200 a share is the level we'd get interested in buying more Salesforce stock, Jim said. The industrial name will continue to be a beneficiary of the AI trade due to Eaton's booming data center business. Alphabet : If this mega-cap name experiences a move lower, investors should scoop up shares, Jim said. Nvidia : There's not much more to say about Nvidia in light of another blowout earnings report and the strong guidance accompanying it.
Persons: Jim Cramer's, Jim, Apple's, Goldman Sachs, Salesforce, We've, Danaher, he'd, Walt Disney, We're, Estee Lauder, Eaton, Ford, Motors, Mary Dillon's, It's, Linde, Eli Lilly, Mark Zuckerberg's, Morgan Stanley, we're, Stanley Black, we've, Wynn, Jim Cramer, Michael M Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Abbott Laboratories, Abbott Labs, Amazon Web Services, Broadcom, Dell, Samsung, Costco Wholesale, Coterra Energy, DuPont De Nemours, DuPont, The, Eaton, Ford, GE Healthcare, Honeywell, Jim, Linde, Microsoft, Nvidia, Palo Alto Networks, Palo Alto, Change, Procter & Gamble, Constellation Brands, Constellation, Modelo, Corona, Federal Reserve, TJX, Marshalls, Wynn Resorts, Jim Cramer's Charitable, Traders, New York Stock Exchange, Santiago, Getty Locations: China, Dover, Eaton, U.S, Maxx, HomeGoods, Wells Fargo, Macau, New York City
That’s why, next week, I will leave the Bill & Melinda Gates Foundation, of which I was a co-founder almost 25 years ago, to open a new chapter in my philanthropy. The second the global agenda gets crowded, women and girls fall off. Decades of research on economics, well-being and governance make it clear that investing in women and girls benefits everyone. We know that economies with women’s full participation have more room to grow. That reducing the time women spend in poor health could add as much as $1 trillion to the global economy by 2040.
Persons: ” I’ve, Melinda Gates, it’s Organizations: Melinda Gates Foundation Locations: United States
Loan loss reserves have perked back up in recent quarters and are at roughly 1.75% of loans outstanding, according to MRB Partners. If the economy only modestly slows, as many economists expect, new loan loss reserves could be smaller in the future. This situation comes as bank earnings were generally better than expected for the first quarter. Lauren Goodwin, chief market strategist and economist at New York Life Investments, agreed that a potential slowing or reversal of loan loss reserves would be positive for bank earnings but said she is cautious about bank profitability more broadly. To be sure, banks may need to increase their loan loss reserves if the economic outlook gets worse.
Persons: Banks, Bob Elliott, Salvatore Ruscitti, Ruscitti, Lauren Goodwin, Goodwin, they're, Unlimited's Elliott Organizations: MRB Partners, Funds, Bank, P Bank ETF, New York Life Investments Locations: Bridgewater, MRB
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.
Persons: Jim Cramer, Jerome Powell, doesn't, Stanley Black, Decker, toolmaker Stanley Black, Estee Lauder, Locker, Jim, Jim Cramer's Organizations: CNBC, Linde, Marshalls, TJX Companies, Health, Apple, Coterra, Jim Cramer's Charitable Locations: China
CNN —The top two senators on the Senate Committee on Veterans’ Affairs called the Biden administration’s plan to reduce veterans’ health care staffing a “mess” that could undercut the timing and quality of care. Their letter, obtained by CNN, called VA’s apparent “zero growth” policy a “drastic” and “shortsighted” decision. Though the VA told the committee that critical staff and some others would be exempt, Tester and Moran wrote that has not been the case. The VA has long been plagued by delays in health care. A decade ago, the Obama administration’s then-VA secretary, Eric Shinseki, resigned following revelations of sometimes deadly delays for veterans waiting for care at VA facilities.
Persons: Biden, Veterans Affairs Denis McDonough, Sen, Jon Tester, Jerry Moran, Moran, , , Shereef Elnahal, Dr, Jason Crow, Helen H, Richardson, ” Elnahal, , Terrence Hayes, ” Hayes, McDonough, Joe Biden, Obama administration’s, Eric Shinseki Organizations: CNN, Veterans ’ Affairs, Veterans Affairs, Montana Democrat, Kansas Republican, VA, Health, U.S . Department of Veterans Affairs, Wheeling, Denver Post, PACT Locations: Montana, Kansas, , VA, Wheeling St, Aurora , Colorado
The bill is similar to Florida’s ban on diversity, equity and inclusion initiatives in public colleges, which was signed into law last May. This political theater lifts up a caricature of college, one on which coddled minds are seduced into liberal ideas. If states become hostile to students’ values, those students could choose to go elsewhere or to forgo college altogether. Part of a larger survey about students’ experiences of higher education, the report left me with one major takeaway: The national debate about so-called woke campuses does not reflect what most college students care about. They underscore how unhinged our national debate over higher education has become and how misaligned Republican-led public higher education systems are with the bulk of college students.
Persons: , haven’t Organizations: Higher Education, Republican, Bills, Public, Lumina Foundation, Gallup Locations: Florida, Alabama
There is no particular mystery to unravel around the political views of Elon Musk, the billionaire technology and social media executive. He is — and for some time, has been — on the far right wing of American politics. He is an enthusiastic purveyor of far-right conspiracy theories, using his platform on the website X to spread a worldview that is as extreme as it is untethered from reality. Musk is especially preoccupied with the racial makeup of the country and the alleged deficiency of nonwhites in important positions. Musk, a wealthy shareholder in various companies — including his own, Tesla, which is being sued by Equal Employment Opportunity Commission for allegedly allowing racist abuse of some of its Black employees — says it’s diversity.
Persons: Elon Musk, , Organizations: Boeing, , CNN, Employment, Commission
Chew, meanwhile, clapped back, “American social companies don’t have a good track record with data privacy and user security. But if lawmakers were serious about protecting the digital data of millions of American social media users, targeting TikTok alone is a limited way to achieve this goal. Separately, US intelligence authorities have said that Russian operatives were able to exploit US-based social media platforms including Facebook and Twitter as part of an election meddling campaign in the lead-up to the 2016 US presidential vote. Sherman said he thinks some lawmakers are raising important national security concerns regarding TikTok. Ultimately, Jameel Jaffer, the executive director of the Knight First Amendment Institute at Columbia University, called the bill a “missed opportunity” for Congress to take real action regarding their concerns about US user data.
A number of congressional Republicans running in 2024 are swiftly distancing themselves from a controversial Alabama Supreme Court ruling seen as infringing on IVF, the latest obstacle for GOP candidates in the post-Roe era. IVF allowed me, as it has so many others, to start my family,” California Republican Rep. Michelle Steel, who represents a district carried by Biden, said on X. On the campaign trail though, the National Republican Congressional Committee is trying to help candidates navigate what is emerging as a tricky political moment. The memo tells candidates to “express support for IVF” and “oppose restrictions” on the procedure. Even some conservatives are going out of their way to express support for IVF and distance themselves from the Alabama ruling.
Persons: Michelle Steel, Biden, , Don Bacon, Republicans ’, Roe, Wade, Mike Berg, Larry Hogan, Dave McCormick, , Sen, Tommy Tuberville, Mike Lawler, Nick LaLota, Nancy Mace, Matt Gaetz, CNN’s Abby Phillip, Kat Cammack, ” Cammack Organizations: Democratic, GOP, ” California Republican, ” Republican, Republicans, National Republican, National Republican Senatorial Campaign, CNN, Republican Senate, Maryland Gov, US, NBC, , Republican, New York Republican, Biden, Republican Party, Women’s Caucus, Florida Republican Locations: Alabama, ” California, Nebraska, Pennsylvania, New York, South Carolina, Florida
Take Anders Hillborg’s second piano concerto, “The MAX Concerto,” which had its local premiere with the New York Philharmonic on Thursday. Programmed somewhat arbitrarily between works by Sibelius and Rachmaninoff, it was more entertaining than either of them, and just as well crafted. Likable without being eager to please, thrilling without shameless dazzle, it is, like Ax, enjoyable simply because it’s excellent. And, crucially, Hillborg’s concerto works regardless of how familiar a listener is with his music, or any classical music for that matter. Or you could just sit back and sense, intuitively, the genial majesty and pleasure coursing through it all.
Persons: Anders Hillborg’s, Sibelius, Rachmaninoff, Emanuel Ax, Ax, Manny Ax, Beethoven’s, , Bach Organizations: New York Philharmonic Locations: San Francisco
Speaking at the Munich Security Conference, Harris offered a broad defense of the Biden administration’s approach to global challenges, especially in leading international support for Ukraine in its war with Russia. Her comments came as the Ukraine risks losing U.S. support due to congressional dysfunction and positions taken by Trump and many of his supporters. Harris sounded many of the same concerns and her comments were peppered with blunt criticism of Trump and his allies. Earlier this month, Trump sent shivers through Europe when he said he would not come to the defense of NATO allies that do not meet defense spending commitments. Harris said the Biden administration’s “sacred commitment to NATO remains ironclad.”“Imagine if America turned our back on Ukraine and abandoned our NATO allies and abandoned our treaty commitments.
Persons: Kamala Harris, Donald Trump’s, Harris, Biden, Alexei Navalny, , , ” Harris, U.N, Antonio Guterres, ” Guterres, Trump, shivers, Vladimir, Putin Organizations: , NATO, Munich Security, Ukraine, Trump, Hamas, America Locations: MUNICH, Russia, Ukraine, United States, America, Gaza, Israel, Rafah, Europe
“Make no mistake: Putin is responsible for Navalny’s death. A few moments earlier, Secretary of State Antony Blinken linked Navalny’s death directly to Russia’s president. Asked whether Navalny’s death might spur Congress to act in providing more Ukraine aid, Biden was hopeful. Even so, Johnson said in a statement Friday that Putin “is likely directly responsible” for Navalny’s death. “I made it clear to him that I believe the consequences of that would be devastating for Russia,” Biden said in Geneva, where the summit was held.
Persons: Alexey Navalny’s, Vladimir Putin, Joe Biden, Donald Trump, Putin, ” Biden, Roosevelt, “ Putin, ” Trump, Nikki Haley, Fani Willis ’, Trump, Putin’s, Biden, “ It’s, Kamala Harris, Antony Blinken, , , Mike Johnson, Johnson, Putin “, Tucker Carlson, Carlson, Trump’s, ” Haley, Truman, “ Trump, he’d, Navalny, we’re, ” Harris, Harris, Navalny’s, CNN’s Haley Britzky, Lauren Fox, Kate Sullivan Organizations: CNN, White, GOP, Fulton, NATO, Biden, Munich Security Conference, Republican, Republicans, Ukraine, Fox News, South Carolina Gov, South, Putin, Super, Ukraine wavers, , Trump Locations: Washington, Russia, Fulton County, Georgia, Europe, Moscow, Ukraine, Munich, United States, South Carolina, Michigan , Wisconsin, Pennsylvania, Latvian, Lithuanian, Polish, Geneva, Asia, transatlanticism
There are a lot of pros to dating single parents, and I know because I am one. Single parents can be more understanding of situations and most easily roll with the punches because they've seen it all. Many single parents have also done a lot of personal development, like therapy, which I think is a huge bonus to a relationship. If you're not able to confidently tell a date you're a parent, you're probably pursuing the wrong type of relationship. Single parents need to be more flexible with the idea that not everyone will have the same life experience as them.
Persons: Melissa Rogers, She's, , I've, they've, they're, it's Organizations: Service
Cash flow and capital allocation In its June quarter, Apple generated operating cash flow and free cash flow results that handily exceeded Street expectations. The Mac's return to growth is also notable, especially given the shorter quarter, indicating a significant acceleration in growth versus the September quarter. In services, sales advanced 11% year over year on the back of double-digit growth in paid subscriptions. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Persons: Tim Cook, Cook, Apple, Siri, we're, it's, Luca Maestri, We've, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Apple, Vision, CNBC, Apple Vision, Getty Locations: China, Malaysia, Mexico, Philippines, Poland, Turkey, India, Indonesia, Saudi Arabia, Chile, Kantar, U.S, Japan, Australia
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Wall Street was mixed Monday after the Dow , the S & P 500 and the Nasdaq finished higher for the fourth straight week. Jim Cramer took issue with the note, saying Monday that GEHC's body scan machines are key in the administration of a new class of Alzheimer's drugs. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Outperformance, Jim, Jim Cramer's Organizations: CNBC, Dow, Nasdaq, GE Healthcare, UBS
A still photograph shows what appears to be North Korea's new Chollima-1 rocket being launched in Cholsan County, North Korea, May 31, 2023 in this image released by North Korea's Korean Central News Agency and taken from video. KCNA via REUTERS/File photo Acquire Licensing RightsSEOUL, Nov 21 (Reuters) - Both South and North Korea aim to launch their first spy satellites into orbit by the end of the month, entering a race for military capabilities in space. North Korea has notified Japan it plans to launch a satellite between Wednesday and Dec. 1, after two failed attempts to launch spy satellites earlier this year. Seoul plans to use SpaceX to launch four more spy satellites by 2025, and has test launched its own liquid and solid fuel rockets to launch more civilian and military satellites in the future. South Korea's capabilities are more advanced, but it still has to make more progress to see results, Chun said.
Persons: Vladimir Putin, Kim Jong, Kim Hyun, chong, Chun, Panda, Josh Smith, Simon Cameron, Moore Organizations: North, Korean Central News Agency, REUTERS, Rights, SpaceX, California’s Vandenberg Air Force Base, Carnegie Endowment, International, North Korea's National Aerospace Development Administration, South Korean, United Nations, Thomson Locations: Cholsan County, North Korea, Rights SEOUL, Japan, South Korea, Seoul, Korea, South, U.S, Pyongyang, United States, Washington
GOOGL YTD mountain Alphabet YTD Bottom line Lower-than-expected operating income for the third quarter and a Google Cloud miss dragged Alphabet shares lower by more than 6% in after-hours trading. The Google Cloud performance was particularly disappointing given the strength we saw when Microsoft (MSFT) also reported its Azure numbers on Tuesday evening. Quarterly commentary Despite the topline outperformance, seen in the earnings table above, segment sales at Google Network, Google Cloud and Other Bets came up short. Operating income and quarterly operating margin were also short of expectations as total Traffic Acquisition Costs (TAC) were marginally above expectations. Expenses in Google Cloud and Other Bets were higher than expected, and the company took charges associated with workforce and office space reductions.
Persons: Wall, Jim Cramer's, Jim Cramer, Jim, Leonardo Munoz Organizations: Google, LSEG, Microsoft, Google Services, Management, Google Network, YouTube, NFL, TAC, Capital, CNBC, View, Getty Locations: New York City
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