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☆ Microsoft shares dip as cloud miss overshadows better-than-expected revenue and earnings
▼ + stars: | 2024-07-30 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Microsoft shares dipped on Wednesday as investors looked past better-than-expected earnings and revenue and focused instead on disappointing cloud results. But executives provided a dose of optimism when they predicted a cloud growth speed-up in the first half of 2025. Of the 29% growth for Azure and other cloud services, 8 percentage points came from AI services, Microsoft said. But demand for Azure AI services remained higher than available capacity, said Amy Hood, Microsoft's finance chief. She said Azure growth in June was slightly lower than expected across some parts of Europe.

Persons: Satya Nadella, LSEG, StreetAccount, Nadella, Amy Hood, Hood Organizations: Microsoft, Seattle Convention Center, StreetAccount, CNBC, Google, Amazon Web Services Locations: Seattle , Washington, Europe

☆ Trump tells followers to 'GO AFTER' Meta and Google, citing censorship allegations shared by Elon Musk
▼ + stars: | 2024-07-30 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +3 min

Read previewDonald Trump is again railing against Big Tech, accusing both Meta and Google of censoring content about him in "another attempt at RIGGING THE ELECTION!!!" In a post Tuesday on Truth Social, Trump referenced a photo taken after his assassination attempt that a Facebook communications exec previously acknowledged had been mistakenly fact-checked across the social network. The New York Post also reported Monday that after asking about the assassination attempt, Meta's AI assistant had responded that the event had never happened. Still, Trump urged his followers on Truth Social Tuesday to "GO AFTER META AND GOOGLE. Zuckerberg had called Trump a "badass" for surviving his assassination attempt, but that didn't stop Trump from threatening to send the Facebook cofounder to prison if he's elected.

Persons: —, Donald Trump, Trump, Dani Lever, Lever, Mark Zuckerberg, Zuckerberg, he's, Elon Musk, Elon Musk —, Harris • Donald Trump, Donald Trump Jr, Ted Cruz — Organizations: Service, Big Tech, Social, Facebook, Business, New York Post, Trump, Google

☆ Stocks making the biggest moves premarket: CrowdStrike, Merck, PayPal, JetBlue and more
▼ + stars: | 2024-07-30 | by ( Brian Evans | ) www.cnbc.com time to read: +6 min

Revenue of $695 million was also higher than the $686 million expected. Adjusted earnings of 5 cents per share topped the loss of 2 cents per share forecasted by analysts polled by FactSet. Additionally, Howmet increased its quarterly dividend to 8 cents per share from 5 cents per share, to be payable Aug. 26. JetBlue — Shares jumped 4% after the airline said adjusted earnings per share was 8 cents for the second quarter. Analysts expected a profit of $2.80 per share on revenue of $1.18 billion, according to StreetAccount.

Persons: Woodward, FactSet, LSEG, Archer, Gamble —, Leidos, StreetAccount, — CNBC's Michelle Fox, Hakyung Kim, Lisa Kailai Han, Alex Harring, Jesse Pound, Fred Imbert, John Melloy Organizations: CNBC, Delta Airlines, Microsoft, FactSet, Inc, —, Technology, Merck —, pharma, Semiconductor, Bank of America, Pfizer —, Pfizer, Varonis Systems, Howmet Aerospace, Corning, LSEG, Daniels, Midland, JetBlue —, Revenue, PayPal —, PayPal, Procter, Gamble, U.S . Pentagon Locations: FactSet .

☆ Nvidia's Jensen Huang and Mark Zuckerberg traded jackets and compliments while talking about AI
▼ + stars: | 2024-07-30 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewNvidia's Jensen Huang and Meta's Mark Zuckerberg swapped jackets once again. This time, Zuckerberg gifted Huang another black leather jacket, though this one was bulkier and had a hood similar to Zuckerberg's brown coat. In return, Huang gave Zuckerberg the black leather jacket off his back. Following his talks with Huang, Zuckerberg posted a video of him trying on a large gold chain gifted to him by rapper and singer T-Pain.

Persons: —, Nvidia's Jensen Huang, Mark Zuckerberg, Zuck's, Huang, Zuckerberg, it's, Zuckerberg —, Meta, Ban, we're Organizations: Service, Business, Meta, Ray, Nvidia Locations: tech's, Asia

☆ Apple appears to have just shunned Nvidia again
▼ + stars: | 2024-07-30 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

It appears that Apple opted for Google's TPU chips over Nvidia's for its AI development. An Apple research paper highlights the use of TPUv5p chips from Google for iPhone AI. AdvertisementIt looks like Apple has confirmed it's using Google's chips for Apple Intelligence — not Nvidia's. There was no mention of Nvidia in an Apple research paper published on Monday that discussed foundation language models developed to power Apple Intelligence features. In fact, the tech giant wrote that it used TPUv4 and TPUv5p chips, Google's tensing processing units, to train its artificial intelligence tools.

Persons: Apple, — Organizations: Apple, Google, Nvidia, Service, Apple Intelligence, Business

Analyst Alex Henderson reiterated his buy rating for the cybersecurity firm but lowered his price target to $375 from $425. JPMorgan analyst Kenneth Worthington attributed a higher assumption for total crypto market cap as one reason for his price target raise. "We see the cryptoecosystem in the midst of a material participation rally, benefitting Coinbase revenue generation near term," the analyst wrote. Analyst Eric Joseph's December 2025 price target of $8 implies a 51% decline ahead for the stock. He also maintained his $725 price target, which implies upside of 15.6% from Monday's close.

Persons: Oppenheimer, Needham, Alex Henderson, CrowdStrike, Henderson, Lisa Kailai Han, Keefe, Bruyette, Meyer Shields, Shields, — Lisa Kailai Han, Kenneth Worthington, JPMorgan downgrades, Eric Joseph's, Joseph, Chipmaker, Simon Coles, Coles, Jason Helfstein, NFLX, Fred Imbert Organizations: CNBC, Barclays, Netflix, Security, Aon, JPMorgan, Sanofi Locations: Woods, Coinbase, China, Monday's

☆ Stocks making the biggest moves after hours: Microsoft, Arista Networks, Advanced Micro Devices, Starbucks and more
▼ + stars: | 2024-07-30 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Arista Networks — The computer networking company added nearly 3% after beating Wall Street expectations on both lines in the second quarter. Arista posted adjusted earnings of $2.10 per share on $1.69 billion in revenue, while analysts polled by LSEG predicted $1.95 in earnings per share and $1.65 billion in revenue. Pinterest issued disappointing guidance for third-quarter revenue, giving a range of $885 million to $900 million and missing analysts' expectations. In its fiscal third quarter, Starbucks posted adjusted earnings of 93 cents per share, meeting expectations of analysts polled by LSEG. In the fiscal third quarter, Skyworks' adjusted earnings came in at $1.21 per share, in line with analysts' expectations, per LSEG.

Persons: LSEG, Pinterest, Mondelez, —, Darla Mercado, Jesse Pound, Pia Singh, Sarah Min Organizations: Microsoft, AMD, Arista Networks, Arista, Starbucks, LSEG, Revenue, Caesars Entertainment, Caesars, Western Union, FactSet, Entertainment, Ticketmaster, LSEG . Revenue Locations: Informatica, FactSet .

☆ Ozempic predecessor suggests potential for GLP-1 drugs in Alzheimer’s in early trial
▼ + stars: | 2024-07-30 | by ( Meg Tirrell | ) edition.cnn.com time to read: +7 min

“This is the first study that actually looked at a relatively large number of patients for whether there is any neuroprotective effect in Alzheimer’s disease,” Edison said. The trial enrolled predominantly people with mild Alzheimer’s disease, measured by a test known as the Mini-Mental State Examination, a scale that goes up to 30. The GLP-1 drug class also includes Eli Lilly’s Mounjaro and Zepbound, which use the active ingredient tirzepatide, which mimics not just the hormone GLP-1 but another called GIP. But it hasn’t announced any trials of its GLP-1 drugs in Alzheimer’s. GLP-1 drugs can have side effects, though, primarily gastrointestinal problems like nausea and vomiting.

Persons: liraglutide, “, ”, Maria Carrillo, Carrillo, Paul Edison, ” Edison, Edison, Eli Lilly’s Mounjaro, Alzheimer’s Lilly, hasn’t, Lilly, Lars Fruergaard Jorgensen, there’s, Dr, Sanjay Gupta, semaglutide Organizations: CNN, Alzheimer’s Association International Conference, Alzheimer’s Association, Novo Nordisk, Imperial College London, ”, Nordisk, ” Novo Nordisk, CNN Health, University of Oxford, Alzheimer’s Society, Alzheimer’s Locations: United Kingdom, Philadelphia, Alzheimer’s, ” Novo, Danish

☆ Stellantis to offer broad buyouts to U.S. salaried workers, warns of possible layoffs
▼ + stars: | 2024-07-30 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

CEO of auto giant Stellantis Carlos Tavares speaks to journalists during a joint media event by Stellantis and Leapmotor in Hangzhou, in eastern China's Zhejiang province on May 14, 2024. DETROIT – Automaker Stellantis plans to once again reduce its U.S. employee headcount through a broad voluntary buyout, as the company attempts to reduce costs and boost profits. The company, which reported disappointing first-half results last week, said if not enough employees participate in the buyout program, involuntary terminations could follow. Stellantis confirmed the buyout program, which was first by Automotive News, early Tuesday afternoon. Stellantis last conducted a voluntary buyout program in November, offering the deals to roughly half of its U.S. white-collar employees.

Persons: Carlos Tavares, headcount, Stellantis, excessiveness, Tavares Organizations: DETROIT –, U.S, Automotive News, Fiat Chrysler, France's PSA Groupe, CNBC Locations: Leapmotor, Hangzhou, China's Zhejiang province, Italy

☆ Microsoft's earnings will be first test for large language model monetization, says Bokeh's Forrest
▼ + stars: | 2024-07-30 | 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 EmailMicrosoft's earnings will be first test for large language model monetization, says Bokeh's ForrestKim Forrest, Bokeh Capital Partners CIO, joins 'The Exchange' to discuss the Microsoft's monetization on Copilot as the tech giant is set to report its Q4 earnings after the bell.

Persons: Bokeh's Forrest Kim Forrest Organizations: Bokeh Capital Partners Locations: Copilot

☆ Oil major BP raises dividend as second-quarter profit beats expectations
▼ + stars: | 2024-07-30 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

British oil giant BP on Tuesday reported stronger-than-expected net profit for the second quarter and raised its dividend despite previously warning of significantly lower refining margins. The oil and gas major posted underlying replacement cost profit, used as a proxy for net profit, of $2.8 billion for the second quarter. BP reported net profit of $2.7 billion for the first three months of the year and $2.6 billion for the second quarter of 2023. BP said earlier in the month that weak refining margins and lower oil trading results would likely dent the firm's second-quarter results by as much as $700 million. BP's net debt stood at $22.6 billion at the end of the second quarter, down from $23.7 billion compared to the same period last year.

Persons: Kate Thomson, Murray Auchincloss Organizations: United Kingdom ., BP Locations: Southend, United Kingdom, Gelsenkirchen, Germany, Gulf of Mexico

☆ Starbucks' turnaround takes an encouraging step forward. Here's what we what to see next
▼ + stars: | 2024-07-30 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Starbucks Why we own it : Starbucks has one of the most recognizable brands of any restaurant. Like Starbucks, McDonald's has had a challenging 2024 and the company reported uninspiring results — missing on revenues, same-store sales, and earnings per share. Quarterly commentary Comparable store sales in North America — a key restaurant industry metric — fell 2%, slightly beating estimates of a 2.2% drop forecasted by Wall Street analysts, according to FactSet. In Starbucks' international segment, comparable store sales fell 7%, missing estimates of a 5.1% decline. A Starbucks store stands in Manhattan on January 30, 2024 in New York City.

Persons: Elliott, Elliott Management's, Dunkin, McDonald's, We'd, Laxman Narasimhan, We're, Narasimhan, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Starbucks, Revenue, Elliott Management, Bros, McDonalds, Citi, Wall Street, CNBC, Getty Locations: China, North America, U.S, East, Southeast Asia, Europe, Manhattan, New York City

☆ CNBC Daily Open: U.S. stocks little changed ahead of Big Tech earnings, McDonald's misses estimates
▼ + stars: | 2024-07-30 | by ( Kevin Lim | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Treasury yields slipped and U.S. oil prices fell amid increasing tensions between Israel and the Iran-backed militia Hezbollah in Lebanon. McDonald's missMcDonald's quarterly earnings and revenue fell short of analysts' expectations as same-store sales declined globally for the first time since 2020. The fast-food giant's second-quarter net income fell to $2.02 billion from $2.31 billion a year ago, while revenue was nearly flat at $6.49 billion. Bond investors benefit from price appreciation in a falling interest rate environment as bond prices and yields move inversely to each other.

Persons: McDonald's, iPhones, Max, Bitcoin, Donald Trump, Trump, Gary Gensler, Janus Henderson Organizations: CNBC, Big Tech, Nasdaq, Dow Jones Industrial, Treasury, Hezbollah, Apple, Apple Intelligence, Republican, Bitcoin Conference, Metrics, Securities, Exchange Locations: U.S, Israel, Iran, Lebanon

☆ A former PepsiCo exec sued the company for saying that he didn't invent Flamin' Hot Cheetos while working as a janitor
▼ + stars: | 2024-07-30 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

Read previewA former executive at PepsiCo has sued the company, claiming he should get credit for being the brains behind Flamin' Hot Cheetos. He published a memoir in 2021, and his life story was made into the film "Flamin' Hot" in 2023. Enrico liked the idea so much that he ordered PepsiCo to start making spicy Cheetos, the lawsuit says. AdvertisementPepsiCo launched nationwide sales of Flamin' Hot Cheetos in 1992. AdvertisementIn a later statement, a spokesperson for PepsiCo told Variety that it attributed the launch and success of Flamin' Hot Cheetos "and other products" to several people, including Montañez.

Persons: —, Flamin, Richard Montañez, Montañez, Lay, Richard, Roger Enrico, Enrico, Montañez's, didn't, PepsiCo's Organizations: Service, PepsiCo, Business, Angeles Times, Frito, Walmart, Target, Harvard University, Los Angeles Times, Lay, Times, Midwest, The Times, Variety Locations: Rancho Cucamonga , California, Texas, Mexican

☆ Lululemon pulls new leggings line after complaints about ‘whale tail’
▼ + stars: | 2024-07-30 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

But after its new leggings became the butt of endless jokes, the company will have to leave them behind. I’m not sure what’s going on over there, but that’s not very cute.” The customer said she is returning the leggings. “I also am not a huge fan of the butt seam. In a statement to CNN, a Lululemon spokesperson said it takes customer feedback seriously and will incorporate it into future designs. Earlier this year, Lululemon said it missed out on some sales because it did not stock as many different colors of leggings as customers wanted.

Persons: New York CNN —, Lululemon, Reddit, “, TikTok, ”, JP Morgan, Matthew Boss, Boss, Alo, Vuori Organizations: New, New York CNN, CNN Locations: New York

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Roblox, Netflix, Amazon, Tesla, McDonald's, Affirm & more
▼ + stars: | 2024-07-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Loop initiates BrightView as buy Loop said it's bullish on shares of the commercial landscaping company. Evercore ISI reiterates Apple as outperform Evercore said it's bullish ahead of Apple earnings later this week. " Bank of America reiterates Roblox as buy Bank of America said it's standing by Roblox ahead of earnings on August 1. Deutsche Bank reiterates McDonald's as buy Deutsche said it's standing by the fast food giant following earnings. Bank of America reiterates Goldman Sachs as buy Bank of America said top pick Goldman Sachs has "cyclical/secular tailwinds."

Persons: Evercore, it's, Jensen Huang, Nvidia's Blackwell, Blackwell, KBW, Oppenheimer, Wells, Roblox, Tesla, McDonald's, Baird, Edward Jones, Goldman Sachs, ROE resiliency, Morgan Stanley, Wells Fargo Organizations: Apple, Citi, Nvidia, " Bank of America, of America, Barclays, UBS, Amazon, Netflix, Bank of America, JPMorgan, RBC, Tesla, Deutsche Bank, Deutsche, Whirlpool, underperform Bank of America, Abbott Laboratories, Abbott Labs, Edward, Stock, 2Q, PNC, WF

☆ Merck beats earnings expectations, raises sales outlook on strong demand for top drugs like Keytruda
▼ + stars: | 2024-07-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Merck on Tuesday reported second-quarter revenue and adjusted earnings that topped Wall Street's expectations as it saw strong sales from its blockbuster cancer drug Keytruda as well as other treatments in its oncology and vaccines portfolios and a newly launched cardiovascular drug. The pharmaceutical giant also raised its full-year sales forecast to a range of $63.4 billion to $64.4 billion on increased demand for key products, particularly its oncology treatments. That's only slightly higher than the $63.1 billion to $64.3 billion guidance the company provided in April. Merck reported $16.11 billion in revenue for the quarter, up 7% from the same period a year ago. Some analysts expect that worldwide sales of Winrevair could reach $5 billion by 2030.

Persons: Keytruda, Merck Organizations: Merck, Harpoon Therapeutics, LSEG, Prometheus Biosciences Locations: Rahway , New Jersey, U.S

☆ Johnnie Walker-maker Diageo plunges 10% on full-year sales decline, but Guinness a bright spot
▼ + stars: | 2024-07-30 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

John Morrissey serves pints of Guinness at a traditional Irish pub in Dublin on May 21, 2024, in Dublin, Ireland. Shares of spirits giant Diageo tumbled more than 10% on Tuesday morning, after the Johnnie Walker-maker posted its first sales decline since the start of the pandemic. The London-based company said organic net sales dropped 0.6% in the full-year to June 30, largely due to weakness in the Latin America and Caribbean region. Reported net sales were down 1.4%. "The situation in Latin America is concerning as it was the primary reason for the profit warning earlier in the year.

Persons: John Morrissey, Johnnie Walker, Smirnoff, Captain Morgan, Don Julio, Tanqueray, Chris Beckett, Cheviot Organizations: Diageo, Guinness, Revenue Locations: Dublin, Ireland, London, America, Caribbean, North America, Europe

☆ Small-cap stocks still look cheap after big July rally, Vanguard CIO says
▼ + stars: | 2024-07-30 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Greg Davis, the firm's president and CIO, told CNBC's Bob Pisani that the small-cap rebound makes sense from a valuation standpoint and could keep going. "Small caps, to us, still look relatively cheap — relative to some of the large-cap alternatives that are out there," Davis said. The small-cap Russell 2000 is up nearly 10% in July, while the S & P 500 is flat and the Nasdaq Composite is down 2%. Small-cap value , in particular, has outperformed, including the Vanguard Russell 2000 Value ETF (VTWV) , which is up 11.9%. The small-cap rally comes after this bull market was mainly led by a handful of Big Tech stocks, including Nvidia and Microsoft .

Persons: Greg Davis, CNBC's Bob Pisani, Davis, Russell, Vanguard Russell, it's, Jack Bogle, Salim Ramji Organizations: Vanguard, Nasdaq, Big Tech, Nvidia, Microsoft, BlackRock

☆ Starbucks revenue misses estimates as same-store sales decline for second straight quarter
▼ + stars: | 2024-07-30 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

The company's same-store sales fell 3% in the quarter, fueled by a 5% decline in transactions. Domestic same-store sales fell 2%, boosted by an increase in average ticket. Outside of North America, same-store sales slid 7%. In China, Starbucks' second-largest market, same-store sales tumbled 14% as both average ticket and transactions shrank. Last quarter, Starbucks slashed its forecast, projecting revenue growth of a low single-digit percentage and earnings per share growth in a range of flat to a low single-digit percentage.

Organizations: Starbucks, LSEG Locations: North America, China

☆ CNBC Daily Open: Asian shares slide, U.S. stocks flat ahead of Big Tech earnings; McDonald's earnings miss
▼ + stars: | 2024-07-30 | by ( Kevin Lim | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. McDonald's missMcDonald's quarterly earnings and revenue fell short of analysts' expectations as same-store sales declined globally for the first time since 2020. The fast-food giant's second-quarter net income fell to $2.02 billion from $2.31 billion a year ago, while revenue was nearly flat at $6.49 billion. Asia stocks weakenAsian stocks traded lower as the Bank of Japan began a two-day meeting where it is widely expected to raise benchmark interest rates. Japan central bank meetsThe Bank of Japan began its two-day policy meeting Tuesday amid expectations of an interest rate hike.

Persons: McDonald's, iPhones, Seng, Fortescue, JPMorgan, Yuri Khodjamirian, CNBC's Organizations: CNBC, Nasdaq, Big Tech, Dow Jones Industrial, Treasury, Hezbollah, Apple, Apple Intelligence, Max, Bank of Japan, Nikkei, CSI, Australian Financial Review, Tema Locations: U.S, Israel, Iran, Lebanon, Asia, Australia, Japan

☆ 'Potential boost from TikTok uncertainty': Here's what Wall Street expects from Meta's 2nd-quarter earnings
▼ + stars: | 2024-07-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Read previewAll eyes are on Meta Platforms with the company set to report its second-quarter earnings results after the market close on Wednesday. AdvertisementHere's what Wall Street expects from Meta's second-quarter earnings report. Looking forward, Post highlighted that a potential TikTok ban in early 2025 could provide a big boost to Meta's advertising business. Advertisement"With political spend, and potential TikTok ban in 1Q'25, Meta could also see an ad spend benefit in 2H'24," Post said. The company also has the potential to offer guidance on the monetization potential of its licensing of Llama, its open-source large language model.

Persons: —, Meta, Justin Post, Ronald Josey, Josey, Wells, Wells Fargo, Ken Gawrelski, Gawrelski, Mizuho, James Lee, Lee, Mandeep Singh, Singh Organizations: Service, Meta, Nvidia, it's, Business, Bank of America, Citi, Cannes, Mizuho, Bloomberg Intelligence Locations: monetizing, Wells Fargo

☆ Verizon sees early success using generative AI to answer questions from business customers
▼ + stars: | 2024-07-30 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +6 min

Verizon uses generative AI to reduce the workload from its high volume of business-related calls. Debika Bhattacharya, the chief technology-solutions officer at Verizon Business, said Verizon received 170 million calls from business and individual customers every year. Last year, the company added generative AI as another layer to help reduce the demands on customer-service agents and answer clients' questions faster. AI in actionIncorporating generative AI into its business-to-business customer-service strategy helps agents answer questions and resolve issues faster, Bhattacharya said. Bhattacharya said it's too early to share data about how generative AI was improving Verizon's business customer service.

Persons: —, Debika Bhattacharya, Bhattacharya, it's Organizations: Verizon, Service, Verizon Communications, Fortune, Verizon Business, hyperpersonalization, Telecom Locations: New York City

☆ Microsoft has investors really freaking out about Big Tech's AI spending
▼ + stars: | 2024-07-30 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Shares fell in post-market trading after Microsoft released its fourth-quarter earnings report. Its Azure cloud unit's revenue grew 29%, slightly slower than analysts had expected. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Microsoft released its Q4 earnings Tuesday afternoon, and the company grew its Azure cloud unit's revenue by 29%.

Persons: Satya Nadella, — Organizations: Microsoft, Service, Business

☆ Amazon projected huge losses from its healthcare business in 2024, but strong sales growth, internal document reveals
▼ + stars: | 2024-07-30 | by ( Eugene Kim | ) www.businessinsider.com time to read: +7 min

Read previewLate last year, Amazon projected its healthcare businesses to lose more than $1 billion for 2024, according to an internal planning document obtained by Business Insider. Although the company doesn't breakout financials on the healthcare business, investors will be looking for signs of success when it reports results on Thursday. That was mostly thanks to Amazon Pharmacy, which was projected to generate $1.81 billion in 2024 sales, a 45% surge. Amazon healthcare is slowing investments in smaller initiatives by delaying hiring for certain projects and reducing contractor spend, it added. It's upgrading the signup process, such as insurance card capture technology, and simplifying the linking between One Medical and Amazon Pharmacy accounts.

Persons: —, Andy Jassy, Brand, Neil Lindsay, It's Organizations: Service, Business, Amazon, Pharmacy, Amazon Health Services, Tech, Amazon Pharmacy, Health Services, Health, Amazon Clinic, Google

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