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☆ Leaked messages show a high-profile Amazon VP trying to calm employees over the return-to-office mandate: 'Let's not grab our torches and pitchforks quite yet'
▼ + stars: | 2023-02-21 | by ( Eugene Kim | ) www.businessinsider.com time to read: +3 min

Paul Vixie, a high-profile Amazon VP, told employees to be patient and wait for more details about the new return-to-office mandate. Amazon employees are furious about the new mandate which requires them to be in the office three days a week starting in May. A high-profile Amazon executive joined an internal Slack conversation on Tuesday as employee angst over the sudden return-to-office mandate intensified. It also shows how Amazon's return-to-office mandate was not widely shared even among the highest-ranked employees prior to its announcement on Friday. Many employees in the Slack channel expressed frustration over the abruptness and vagueness of Jassy's announcement.

☆ Amazon Web Services pairs with Hugging Face to target AI developers
▼ + stars: | 2023-02-21 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

Feb 21 (Reuters) - Amazon Web Services (AWS), the cloud computing arm of Amazon.com Inc (AMZN.O), on Tuesday said it is collaborating with startup Hugging Face, a software development hub, to make it easier to carry out artificial intelligence work (AI) in Amazon's cloud. While new generative AI services like chat-based search engines from Microsoft Corp (MSFT.O) and Alphabet Inc's Google (GOOGL.O) have captured the public's imagination, tech companies such as AWS are also vying behind the scenes to supply the tools and services that software developers will need to weave similar technology into their own products. On Tuesday, AWS said it will work with Hugging Face, a New York-based company that has become a central place online where AI developers share open-source code and models. "For this product collaboration, we're dedicating significant engineering resources to build our shared products," Delangue told Reuters in interview. Reporting by Stephen Nellis in San Francisco Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Snap is cutting back spending on Google and Amazon for cloud services, a huge expense for tech companies
▼ + stars: | 2023-02-17 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

Other companies like Twitter are also moving to cut back on cloud costs. The Snapchat owner uses both Google Cloud and Amazon Web Services to operate. When Snap went public in 2017, it disclosed Google Cloud and Amazon Web Services as cloud providers. It said it had agreed to pay Google $2 billion for cloud services over the next five years, purchasing at least $400 million per year in services. Cloud services have for the last several years become a major source of revenue for companies like Google, Amazon, and Microsoft.

☆ Josh Brown buys Oracle on Uber deal, says 2023 could be the stock’s ‘coming out party’
▼ + stars: | 2023-02-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

Ritholtz Wealth Management CEO Josh Brown snapped up Oracle shares Tuesday morning, following the tech company's announcement of its partnership with Uber. On Monday, Oracle said it entered into a seven-year strategic cloud partnership with Uber to accelerate the ride-sharing platform's innovation and help deliver new products. It's a name that Brown said has been lost in the shuffle, adding this could be the year of its "coming out party." "This has been a very boring company that I have ignored for a decade," Brown said on CNBC's " Halftime Report ." The fact that Uber selected Oracle over Amazon Web Services, which powers Lyft , and over big player Microsoft is impressive, Brown said.

☆ Top Wall Street analysts like these stocks for the long haul
▼ + stars: | 2023-02-12 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Here are five stocks picked by Wall Street's top analysts, according to TipRanks, a service that ranks analysts based on their past performance. Costco recently reported better-than-anticipated net sales growth of 6.9% and comparable sales growth of 5.6% for the four weeks ended Jan. 29. Benedict's convictions can be trusted, given his 55th position out of more than 8,300 analysts in the TipRanks database. Amazon's first-quarter sales growth outlook of 4% to 8% reflects further deceleration compared with the 9% growth in the fourth quarter. Rakesh sees a "modest downside" to Wall Street's consensus expectation for the 2023 revenue growth for Amazon's retail business.

☆ Former EMX Digital employees are furious they were let go without severance after the adtech firm's owner Big Village filed for bankruptcy
▼ + stars: | 2023-02-10 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +5 min

Nearly all staff at adtech firm EMX Digital were laid off this week after parent company Big Village filed for Chapter 11 bankruptcy. Big Village, EMX Digital, and Lake Capital Partner did not respond to a request for comment. EMX Digital got backlogged on payments to publishersTwo of the former EMX Digital employees said that financial problems started last summer, after Big Village rebranded from Engine Group. There were internal rumors that this was when Lake Capital Partners started looking for a buyer for Big Village, according to two former employees. At the same time, EMX Digital stopped paying publishers, and between July and September, EMX Digital was bombarded by emails from publishers who were getting increasingly mad about missed payments, said one former employee.

☆ These charts show just how much cloud spending has slowed at Microsoft, Amazon, and Google
▼ + stars: | 2023-02-09 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

The slew of big tech earnings confirmed that cloud growth is slowing and no one is immune. Microsoft, Amazon, and Google all say customers are looking for ways to lower their cloud bills. These charts show just how much cloud growth slowed at the big three cloud providers. These charts show just how much cloud growth slowed at the big three cloud providers:When Microsoft reported earnings results, Wall Street was shocked to see just how much cloud spending had slowed. Microsoft CEO Satya Nadella acknowledged customers of Azure's cloud services were cutting spending, but said he's optimistic spending will bounce back.

☆ U.S. Treasury urges financial firms to examine cloud services
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

Deputy Secretary of the Treasury Wally Adeyemo said while "there is no question that providing consumers with secure and reliable financial services means greater demand for cloud-based technologies,” there needed to be "safe and effective migration" as banks and other financial companies adopt cloud services. "Treasury found that cloud services could help financial institutions become more resilient and secure, but that there were some significant challenges that could detract from these benefits," department officials wrote in their report assessing current cloud adoption in the financial industry. Those issues include financial firms' exposure to potential cyber incidents, an industry-wide reliance on a small number of cloud providers and a lack of technology workers able to help financial institutions deploy cloud services, among other challenges, department officials said. Treasury officials recommended steps that could help the sector adopt cloud computing, adding that it "neither endorses nor discourages cloud service adoption by the sector." Technology companies that provide cloud computing services include Amazon Inc's (AMZN.O) Amazon Web Services, Alphabet Inc's (GOOGL.O) Google, Microsoft Corp (MSFT.O) and Oracle Corp (ORCL.N).

☆ Cloud leaders Amazon, Google and Microsoft show the once-booming market is cooling down
▼ + stars: | 2023-02-04 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Amazon , Microsoft and Alphabet , the three leaders in the market for cloud-based storage and servers, all reported deceleration in their respective businesses. On Thursday, Amazon Web Services and Google Cloud, which also includes Workplace productivity software, showed revenue for the fourth quarter that was below analysts' estimates. Google Cloud revenue growth slowed to 32% in the fourth quarter from almost 38% in the third period. Amazon , which pioneered the market over 15 years ago and maintains a commanding lead, said AWS revenue growth decelerated to 20% from 27%. "As we look ahead, we expect these optimization efforts will continue to be a headwind to AWS growth in at least the next couple of quarters," Olsavsky said.

☆ Leaked Amazon memo shows it only wants to hire students and new grads for entry-level software roles
▼ + stars: | 2023-02-03 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +5 min

But middle managers could be the latest layoff target in tech, especially after Mark Zuckerberg's latest reported comments. Leaked Amazon memo reveals new hiring strategy. The e-commerce giant is only hiring students and new grads for entry-level software positions, per an internal note reviewed by Insider. More on Amazon's latest hiring strategy here. The latest people moves in tech:An Amazon Web Services exec who was accused of gender discrimination is leaving, according to leaked docs.

☆ Jim Cramer's top 10 things to watch in the market Friday: Jobs way up, stocks down, tech tough
▼ + stars: | 2023-02-03 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Every penny gained in other tech stocks on the back of Meta Platforms ' (META) earnings surge this week needs to be given up. High growth, growth, no growth, declining growth ... which box are we in for each portfolio stock? Quarterly revenue beat. I say sell, sell, sell Nordstrom. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Truist Securities' Youssef Squali explains why Amazon stock is trading low
▼ + stars: | 2023-02-03 | 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 EmailTruist Securities' Youssef Squali explains why Amazon stock is trading lowYoussef Squali, Truist Securities Global head of internet and media equity research, joins 'Closing Bell' to discuss shifting consumption rates for Amazon Web Services, Alphabet's AI ambitions, and his favorite names in tech.

☆ Watch CNBC's full interview with Truist Securities' Youssef Squali
▼ + stars: | 2023-02-03 | 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 EmailWatch CNBC's full interview with Truist Securities' Youssef SqualiYoussef Squali, Truist Securities Global head of internet and media equity research, joins 'Closing Bell' to discuss shifting consumption rates for Amazon Web Services, Alphabet's AI ambitions, and his favorite names in tech.

☆ Amazon stock hit hardest after tech earnings bonanza, despite misses by Apple and Alphabet
▼ + stars: | 2023-02-03 | by ( Annie Palmer | ) www.cnbc.com time to read: +3 min

Its stock was hit harder than peers Apple and Alphabet , which also reported on Thursday evening. Shares of Apple were trading up about 4% on Friday morning while Alphabet was down about 1%. Amazon said it expects revenue of between $121 billion and $126 billion in the current quarter. Similarly, despite Alphabet's misses, analysts are bullish on its prospects for artificial intelligence and highlighted its strong core business. WATCH: Arete Research's Richard Kramer on the outlook for Apple, Amazon and Alphabet

☆ Analysts say buy Amazon for the long term, despite recession concerns and slowing AWS growth
▼ + stars: | 2023-02-03 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

But even with these near-term headwinds, analysts remain confident in the long-term thesis for the e-commerce giant and its growth trajectory. The results from Amazon come on the heels of a difficult 2022 that saw the e-commerce bellwether shed roughly half its value and post its slowest year of growth . At the same time, revenue for its Amazon Web Services division fell short of Wall Street's estimates and showed slowing sales growth as business spending dwindles. Moderating growth within the company's cloud unit marked one of the biggest concerns for analysts, but nowhere near a shock. Revenue growth came in at 20% for the quarter, and below the already slow 27.5% growth rate the company experienced in third quarter.

☆ Why Friday's market moves are an 'amazing feat' — listen to the 'Homestretch'
▼ + stars: | 2023-02-03 | by ( ) www.cnbc.com time to read: +6 min

HERE IS WHAT I'M GOING TO TALKABOUT TOMORROW, YOU SHOULD SELL. I'M TIRED OF THEM. I'M TIRED OF THE WAY THEY'REHIGH-HANDED WAY OF TELLING YOUEVERYTHING IS GOING WELL. TWO COMPANIES THAT DO WELL WITHA STRONG ECONOMY WE PROBABLYWILL NOT HAVE AS MANY BAD LOANSAS THE BEARS THINK, WELLS FARGOAND MORGAN STANLEY. WE HAD AMAZON THAT WAS BAD, ANDI DON'T KNOW, I'M STILL WORKINGON AMAZON TO TELL YOU THE TRUTHABOUT WHAT TO DO WITH IT.

Alphabet Inc (GOOGL.O), which has the smallest cloud business among the three, said Google Cloud grew 32%, the slowest rise since the company began reporting the measure in 2019. "Once thought as the most defensive revenue stream in tech, we are seeing investors questioning the cyclicality for the (cloud) business," analysts at Bernstein said. Microsoft's revenue in its so-called intelligent cloud business that includes Azure rose 18% to beat expectations for October to December. Amazon finance chief Brian Olsavsky said on Thursday that the company expects slower cloud growth rates for the next few quarters. "Those (AI) advancements and demand for related cloud services will take time to materialize.

☆ Amazon's AWS just notched its slowest growth in years. It expects customers to tighten their belts even more.
▼ + stars: | 2023-02-03 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +2 min

Amazon's cloud business is seeing a slowdown in growth as customers reduce spending. Amazon's execs say AWS growth will decline even further this quarter. All of that translates into less spend at Amazon Web Services, or AWS — Amazon's cash cow that brought in revenues of $21.4 billion last quarter. Analysts were expecting a slowdown in growth after Microsoft also reported slowing cloud growth last week. As corporate customers look to save money in an economic downturn, they want to cut their cloud costs, CEO Andy Jassy said.

☆ Amazon's cloud business reports 20% growth in fourth quarter, missing estimates
▼ + stars: | 2023-02-02 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Amazon Web Services leads the cloud infrastructure market, with almost 39% share in 2021, according to estimates from industry researcher Gartner. Revenue growth at AWS has generally decelerated since 2015 as the segment has become larger and competition has picked up. In the fourth quarter, AWS generated $21.4 billion in revenue, representing 14% of Amazon's total revenue. Also in the quarter, AWS announced the availability of data center regions in Spain and Switzerland. WATCH: Amazon Web Services revenue growth will slow down more in 2023, says Satori Fund's Niles

☆ Amazon to report quarterly results after market close
▼ + stars: | 2023-02-02 | by ( Annie Palmer | ) www.cnbc.com time to read: +3 min

Amazon will report fourth-quarter earnings after the market close on Thursday. The company warned in its most recent earnings report that fourth-quarter revenue would rise just 2% to 8% from a year earlier. Amazon Web Services is expected to show slowing growth during the fourth quarter as businesses softened their spending in an effort to cut costs. One bright spot could be Amazon's advertising business, which is expected to post solid revenue growth during the quarter. Apple and Alphabet also report results after the bell on Thursday, wrapping up earnings season among the highest-valued tech companies.

☆ Your earnings investing playbook for the big Apple, Amazon and Alphabet results after the bell
▼ + stars: | 2023-02-02 | by ( Jesse Pound | ) www.cnbc.com time to read: +6 min

Thursday is a massive day for tech investors, as Amazon , Apple and Google-parent Alphabet are all set to report fourth-quarter earnings after the market close. Here are some key stats about Amazon's earnings report: Over the past three months, earnings estimates have fallen from nearly 22 cents per share to about 17, according to FactSet. Here are some key stats about Apple's earnings report: Over the past three months, earnings estimates have dropped from about $2 per share to roughly $1.94, according to FactSet. Alphabet Alphabet's earnings report could provide investors a clear window into the tech industry more broadly, given the company's reliance on search advertising and cloud computing. Here are some key stats about Alphabet's earnings report: Over the past three months, earnings estimates have declined by about 2 cents per share to roughly $1.18, according to FactSet.

☆ 'Dodged bullet': How 'Fast Money' traders are responding to Thursday's Big Tech earnings
▼ + stars: | 2023-02-02 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Big Tech stocks Amazon , Apple and Alphabet reported earnings Thursday night. "Ultimately, I think that this was a dodged bullet," Munster said on CNBC's " Fast Money ." "Apple is probably best positioned of the three to exceed the March quarter," Munster said. The company beat revenue expectations for the quarter , according to Refinitiv, but reported its slowest year of growth in its time as a public company. "When we look at the three tonight, Google was the one that had the highest growth rate relative to expectations," Munster said.

And while Amazon's holiday revenue beat Wall Street's expectations, sales growth from its lucrative cloud-computing division slowed during the fourth quarter. Amazon Chief Financial Officer Brian Olsavsky told reporters that the company expects slower cloud growth rates for the next few quarters as it worked with customers to optimize costs. Olsavsky also said the company remains nervous about consumer spending and how people will prioritize budgets moving forward. Facing high inflation and an uncertain economy, CEO Andy Jassy has aimed to slash costs across Amazon's vast array of businesses. The division fell short of estimates of more than $22 billion in fourth-quarter cloud sales, increasing them 20% to $21.4 billion.

☆ Amazon could be sitting on another $3.5 billion business, Morgan Stanley says
▼ + stars: | 2023-02-01 | by ( Michelle Fox | ) www.cnbc.com time to read: +1 min

Amazon could have another winner with its Buy with Prime service, according to Morgan Stanley. The company started out as an online bookseller, morphed into an e-commerce giant and tackled cloud computing with Amazon Web Services. Its newest program, Buy with Prime , allows Prime members who purchase from another retailer's website to check out using their Amazon account and receive free, two-day delivery. His bull case of 5% of non-Amazon volume translates to $3.5 billion of annual EBIT. "Buy with Prime shipping is priced competitively vs peers while also offering the fastest delivery," he said.

☆ What to watch for when 9 Club holdings report earnings on Thursday
▼ + stars: | 2023-01-30 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +11 min

So far, earnings season has been mixed — we've seen some strong results from Club holdings Morgan Stanley (MS) and Halliburton (HAL). Projected revenue: $4.58 billion Projected EPS: $1.30 Conference call at 9:30 a.m. Projected revenue: $7.33 billion Projected EPS: $1.81 Conference call at 10 a.m. Projected revenue: $9.26 billion Projected EPS: $2.51 Conference call at 8:30 a.m. Projected revenue: $121.19 billion Projected EPS: $1.94 Conference call at 5 p.m.

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