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☆ Dell beats quarterly revenue estimates on AI strength, demand recovery
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

The logo for Dell Technologies Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2019. REUTERS/Brendan McDermid Acquire Licensing RightsAug 31 (Reuters) - Dell Technologies (DELL.N) beat quarterly revenue expectations on Thursday, as it benefited from the artificial intelligence (AI) boom and stabilizing demand for computer hardware and server products after a months-long slump. Servers and networking revenue for the second quarter came in at $4.27 billion, up 11% from the first quarter, driven by higher demand for AI-optimized servers, Dell said. The personal computer maker reported revenue of $22.93 billion for the quarter ended Aug. 4, compared with estimates of $20.85 billion, according to Refinitiv data. Its infrastructure solutions group which includes servers, storage devices and networking hardware, reported revenue of $8.46 billion, up 11% sequentially.

Persons: Brendan McDermid, Dell, Jeff Clarke, Clarke, Zaheer Kachwala, Shailesh Organizations: Dell Technologies Inc, New York Stock Exchange, REUTERS, Dell Technologies, Cisco, Nvidia, Big Tech, Revenue, HP Inc, Thomson Locations: New York, U.S, , Texas, China, Bengaluru

☆ Stock futures are little changed ahead of August payrolls report: Live updates
▼ + stars: | 2023-08-31 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during morning trading on August 31, 2023 in New York City. Stock futures were near the flat line Thursday night as investors came off a mixed trading session and closed out a month that saw losses for all three stock indexes. Futures tied to the Dow Jones Industrial Average added 22 points, or 0.06%. S&P 500 futures hovered just above flat, while Nasdaq 100 futures inched down by 0.04%. Despite a recent string of positive sessions that helped stock indexes trim their monthly losses, the S&P 500 lost 1.77%, while the Nasdaq shed 2.17%.

Persons: Athletica, Dow, Dow Jones, Alex McGrath, it's, McGrath Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Dell Technologies, Traders, Federal Reserve, Investors, Dow Locations: New York City

☆ Stocks making the biggest moves after hours: Dell, Lululemon and MongoDB
▼ + stars: | 2023-08-31 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

MongoDB reported earnings of 93 cents per share, excluding items, on revenue totaling $423.8 million in the second quarter. That came in ahead of the earnings per share of 46 cents and $393 million in revenue expected by analysts polled by Refinitiv. The semiconductor company called for fourth-quarter revenue of $9.27 billion, while analysts polled by Refinitiv anticipated $9.275 billion. Meanwhile, analysts polled by Refinitiv expected $1.71 in earnings per share and $3.46 billion in revenue. Lululemon also said it now expects sales of $9.51 billion to $9.57 billion for the fiscal year.

Persons: MongoDB, Dell, Refinitiv, Lululemon Organizations: Refinitiv, Dell Technologies, Broadcom —, VMware

☆ India says Dell, HP among 32 firms that applied to make laptops locally
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +1 min

A person looks at a Dell laptop for sale in a store in Manhattan, New York City, U.S., November 24, 2021. Prime Minister Narendra Modi's government is pushing to boost domestic manufacturing capacity under its "Make in India" initiative, with several global companies either setting up their own units or entering joint ventures with Indian firms. The applications by the electronics companies were made under the country's $2 billion production-linked incentive (PLI) programme for information technology hardware, announced in May, Information Technology Minister Ashwini Vaishnaw said. Earlier this month, India said it would impose a licensing requirement for imports of laptops, tablets and personal computers, which was widely seen as a move to boost local production. ($1 = 82.5855 Indian rupees)Reporting by Blassy Boben; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Narendra Modi's, Ashwini Vaishnaw, Blassy, Jonathan Oatis Organizations: REUTERS, DELHI, Information Technology, Hewlett Packard Enterprise Co, Dell Technologies, Asus, Lenovo, HK, Reuters, Thomson Locations: Manhattan , New York City, U.S, India

☆ HPE forecasts fourth-quarter revenue below estimates, shares fall
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Signs for Hewlett Packard Enterprise Co., cover the facade of the New York Stock Exchange November 2, 2015. HP Enterprise expects current-quarter revenue between $7.2 billion and $7.5 billion, the mid-point of which was below analysts' expectations of $7.49 billion, according to Refinitiv data. Rival Arista Networks (ANET.N) forecast a robust quarterly revenue after delivering better-than-expected results, helped by higher demand for its cloud gear following AI push. On an adjusted basis, HPE earned 49 cents per share for the third quarter ended July 31, compared with expectations of 47 cents. The Spring, Texas-based company posted quarterly revenue of $7.0 billion, beating analysts' estimate of $6.99 billion, according to Refinitiv IBES data.

Persons: Brendan McDermid, HPE, Akshita Toshniwal, Shailesh Organizations: Hewlett Packard Enterprise Co, New York Stock, REUTERS, Hewlett Packard Enterprise, Wall, HP Enterprise, Arista Networks, HP, Dell Technologies, Nvidia, Thomson Locations: , Texas

☆ US business borrowing for equipment falls 2% in July - survey
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly Acquire Licensing RightsAug 28 (Reuters) - U.S. companies borrowed nearly 2% less in July than last year to finance equipment investments, an Equipment Leasing and Finance Association (ELFA) survey showed on Monday. The companies signed up for new loans, leases, and lines of credit worth $9.9 billion last month, compared with $10.1 billion a year earlier, the industry body's survey said. ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals totaled 75.3%, down from 76.1% in June. Washington-based ELFA's leasing and finance index measures the volume of commercial equipment financed in the United States. The Equipment Leasing & Finance Foundation, ELFA's non-profit affiliate, said its confidence index in August stood at 50.4, an increase from 46.4 in July.

Persons: Andrew Kelly, Ralph Petta, Craig Ault, Honour, Pratyush Thakur, Maju Samuel Organizations: REUTERS, Leasing, Finance Association, Bank of America Corp, Caterpillar Inc, Dell Technologies Inc, Siemens AG, Canon Inc, Volvo, Finance Foundation, Thomson Locations: Manhattan , New York City, U.S, Washington, United States, Bengaluru

☆ Here are 2 major themes to watch in the week ahead after Friday's market rally
▼ + stars: | 2023-08-26 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

As August is known to be, it's been a rough month-to-date for all three of those stock market benchmarks so far. This past week, the overall market was oversold, according to Jim Cramer's trusted S & P Oscillator. After Friday's strong finish, we'll see if the market's oversold condition abates as two major themes play out in the week ahead: Earnings from two Club names — Salesforce (CRM) and Broadcom (AVGO) — and key economic reports ahead of September's Fed meeting. Outside of the labor market and inflation, we'll also get a look at the housing market with the pending home sales on Wednesday. As we heard from fellow Club name Palo Alto Networks (PANW) last week, companies are growing more cautious and more closely scrutinizing large sales deals.

Persons: Jerome Powell's, Powell, it's, Jim Cramer's, Friday's, —, It's, we've, we'll, we're, Salesforce, AVGO, We're, Brown, Forman, Campbell Soup, LULU, Jim Cramer, Jim, Angela Weiss Organizations: Nasdaq, Federal, Nvidia, Dow Jones, Broadcom, Fed, Labor, Club, Palo Alto Networks, VMWare, HEICO Corporation, Bank of Montreal, BMO, Bank of Nova, Hewlett Packard Enterprise, HP, PVH Corp, Patterson Companies, Veeva Systems, UBS, Academy Sports, Hormel, Signet Jewelers, Dell Technologies, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Jackson Hole , Wyoming, China, Bank of Nova Scotia, New York City

☆ The clash of sustainability and AI is creating a challenge for Dell, IBM and others
▼ + stars: | 2023-08-19 | by ( Rachel Curry | ) www.cnbc.com time to read: +7 min

"From our perspective, AI looks like a really big data problem," said Ben Golub, CEO of decentralized cloud storage company Storj. This startup is joined by legacy enterprises like Dell and IBM in tackling data storage efficiency for economic and environmental sustainability. For those that do go decentralized, Lewis says it's still important to maintain what he calls "centralized management of a decentralized architecture." IBM recently launched its Cloud Carbon Calculator, an AI-informed dashboard designed to give clients access to standards-based greenhouse gas emissions data and help manage their cloud carbon footprint. Which workloads are best suited for a decentralized data storage model?

Persons: Andriy Onufriyenko, Ben Golub, Arthur Lewis, Lewis, Golub, Dell, it's, Ermengarde Jabir, Jabir, Alan Peacock, Peacock Organizations: Dell, IBM, Dell Technologies, Infrastructure Solutions, IBM Cloud

☆ Australian court fines Dell unit $6.5 mln for misleading customers on discounts
▼ + stars: | 2023-08-14 | by ( Navya Mittal | ) www.reuters.com time to read: +1 min

The Dell logo is seen on an item for sale in a store in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew KellyAug 14 (Reuters) - Australia's Federal Court on Monday ordered Dell Technologies Inc's (DELL.N) local unit to pay A$10 million ($6.46 million) in penalties for making misleading representations on its website about discounts for add-on computer monitors. In a legal action brought by the country's competition regulator, Dell Australia was found guilty by the Federal Court in June to have misled customers about the prices or discounts on add-on monitors on its website. "This outcome sends a strong message to businesses that making false representations about prices or inflating discounts is a serious breach of consumer law and will attract substantial penalties," said Liza Carver, commissioner of the Australian Competition and Consumer Commission. ($1 = 1.5480 Australian dollars)Reporting by Navya Mittal in Bengaluru; Editing by Rashmi Aich and Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Liza Carver, Navya Mittal, Rashmi Aich, Subhranshu Organizations: REUTERS, Monday, Dell Technologies, Dell, Federal Court, Australian Competition, Consumer Commission, Dell Australia, Reuters, Thomson Locations: Manhattan , New York City, U.S, Dell Australia, Bengaluru

☆ Australian court fines Dell unit $6.5 million for misleading customers on discounts
▼ + stars: | 2023-08-14 | by ( ) www.cnbc.com time to read: +1 min

A Dell Technologies flag outside the company headquarters in Round Rock, Texas, US, on Monday, Feb. 6, 2023. Australia's Federal Court on Monday ordered Dell Technologies local unit to pay $10 million Australian dollars ($6.46 million) in penalties for making misleading representations on its website about discounts for add-on computer monitors. In a legal action brought by the country's competition regulator, Dell Australia was found guilty by the Federal Court in June to have misled customers about the prices or discounts on add-on monitors on its website. "This outcome sends a strong message to businesses that making false representations about prices or inflating discounts is a serious breach of consumer law and will attract substantial penalties," said Liza Carver, commissioner of the Australian Competition and Consumer Commission. Dell Australia, which sold more than 5,300 add-on monitors with overstated discounts between Aug. 2019 and Dec. 16, 2021, will be working "with impacted customers to provide appropriate refunds plus interest and are taking steps to improve our pricing processes to ensure this sort of error does not happen again," a spokesperson for Dell Australia said in a statement to Reuters.

Persons: Liza Carver Organizations: Dell Technologies, Monday, Dell, Federal Court, Australian Competition, Consumer Commission, Dell Australia Locations: Round Rock , Texas, Australia's, Dell Australia

☆ Dell expands 'Project Helix' with Nvidia to provide generative AI solutions
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: 1 min

[1/2] The Dell logo is seen on an item for sale in a store in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew KellyJuly 31 (Reuters) - Dell Technologies (DELL.N) on Monday launched new generative artificial intelligence (GenAI) solutions in collaboration with Nvidia (NVDA.O) whose chips enable the technology behind OpenAI's ChatGPT. The tools will help businesses to build GenAI models and are an expansion of Dell's Project Helix, which was launched in May. Reporting by Jaspreet Singh in Bengaluru; Editing by Shweta AgarwalOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, OpenAI's, Jaspreet Singh, Shweta Agarwal Organizations: REUTERS, Dell Technologies, Monday, Nvidia, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

☆ Morgan Stanley says we are entering a golden age of technology because of A.I. and gives some top stocks to play it
▼ + stars: | 2023-07-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Morgan Stanley offered up some of its top ways to play artificial intelligence as the technology enters a "golden age." But even after those significant surges, Morgan Stanley thinks the tailwinds are far from over. Given this setup, Morgan Stanley analysts highlighted 37 stocks as global AI winners with a combined market capitalization of $2.8 trillion. To compile the list, Morgan Stanley searched for areas of the tech supply chain situated for the strongest AI revenue exposure. Morgan Stanley expects the company's dominance to continue in the foreseeable future, calling it the "cleanest story" within AI hardware.

Persons: Morgan Stanley, — CNBC's Michael Bloom Organizations: Nvidia, Meta, Devices, Marvell Technology, Taiwan Semiconductor Manufacturing, U.S, Dell Technologies Locations: U.S, Taiwan, Korea, Europe

☆ Buy Dell shares as commercial PC market starts to recover, Citi says
▼ + stars: | 2023-06-30 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

There's a buying opportunity in Dell Technologies , and investors should capitalize on it, according to Citi. Analyst Asiya Merchant initiated coverage of Dell with a buy rating, as well as a $60 price target, citing the technology company's leadership in a category that's "poised for recovery." The analyst cited signs of early recovery in commercial PCs even as recovery in storage and compute remains uncertain. DELL 1D mountain Dell shares 1-day Dell shares are higher by 32% this year. However, the analyst's $60 price target implies the stock could rise another 12.9% from Thursday's closing price.

Persons: Asiya Merchant, Merchant, — CNBC's Michael Bloom Organizations: Dell Technologies, Citi, Dell

Apple and Broadcom have argued that they should have been allowed to raise the patent challenges during the trial. A jury found that the companies infringed Caltech's patents, ordering Apple to pay $837.8 million and Broadcom to pay $270.2 million. The Federal Circuit took issue with the amount of the award, and sent the case back for a new trial on damages. Apple and Broadcom told the Supreme Court that the Federal Circuit misread the law, which they said only blocks arguments that could have been raised during the review itself. President Joe Biden's administration urged the justices in May to reject the case and argued that the Federal Circuit had interpreted the law correctly.

Persons: Joe Biden's, Blake Brittain, Andrew Chung Organizations: U.S, Supreme, Apple Inc, Broadcom Inc, Caltech, Apple, Broadcom, California Institute of, Appeals, Federal Circuit, U.S . Patent, Federal, Microsoft Corp, Samsung Electronics Co, Dell Technologies Inc, HP Inc, Thomson Locations: Pasadena , California, Cupertino, San Jose, Los Angeles, Washington, New York

☆ How startup owners can benefit from knowledge-sharing with large businesses
▼ + stars: | 2023-06-21 | by ( Sponsor Post | Created Insider Studios With Dell Technologies | ) www.businessinsider.com time to read: +5 min

Members are offered expertise from their own personal Dell Technology Advisor and can also access exclusive discounts on new Dell tech. The Dell Women Entrepreneurs Cities Index lists 55 cities based on their ability to support high-potential businesswomen. In the autumn of 2022, Dell ran the DWEN Dream Tech Contest in the UK, offering four finalists £40,000 worth of Dell technology between them. Dogs no longer eat dogs in the business world — instead, big businesses help small businesses and empowered women empower women. Learn more about Dell's Small Business Communities here.

Persons: Dell, DWEN, Jo Goodall, Jas Schembri Organizations: Dell, Dell Technologies, Dell Technology, Dell Women's, DWEN, Dell Women, Cities, WE, Startup, Dell's Small, Insider Studios Locations: clichés, DWEN, London, Berlin, Copenhagen

☆ Ex-Goldman partner Adam Dell reportedly paid multimillion-dollar settlement after sending a sexually explicit video to a coworker
▼ + stars: | 2023-06-16 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

Ex-Goldman Sachs partner Adam Dell shared a sexually explicit video by mistake, Bloomberg reported. Dell paid a multimillion-dollar settlement to the coworker who saw the video, Bloomberg reported. Goldman Sachs CEO David Solomon was among top execs who looked into the complaint, Bloomberg said. She ultimately settled for less, but Adam Dell, 53, still paid a "multimillion-dollar" settlement, Bloomberg said, citing people familiar with the matter. Adam Dell, who founded the investing platform Domain Money, did not respond to Insider's emailed requests for comment on Thursday.

Persons: Goldman Sachs, Adam Dell, Dell, David Solomon, Bloomberg, Michael Dell's, isn't, hadn't, Tony Fratto, Goldman, Insider's, Padma Lakshmi, Kathy Ruemmler —, Barack Obama — Organizations: Bloomberg, Morning, Dell Technologies, Goldman, Impact Venture Partners, Bravo, New York federal, White Locations: New York

Companies Dell Technologies Inc FollowJune 6 (Reuters) - Dell Technologies Inc's (DELL.N) Australian unit has been found guilty by the country's Federal Court to have misled customers about the prices or discounts on its add-on monitors on its website, Australia's competition regulator said on Tuesday. When customers chose to buy a personal computer, Dell Australia gave them an option to bundle a compatible monitor at a discounted, or a 'strikethrough' price, suggesting it would be cheaper to buy the monitor in a bundle rather than separately. Consumers paid more than A$2 million ($1.32 million) for add-on monitors between August 2019 and mid-December 2021, the regulator added. Dell Australia, which sold more than 5,300 add-on monitors with overstated discounts during the period, has refunded or agreed to offer compensation to more than 4,250 affected consumers, and has been ordered to offer full or partial refunds to affected customers. ($1 = 1.5122 Australian dollars)Reporting by Sameer Manekar in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Sameer Manekar, Rashmi Organizations: Dell Technologies, Dell Australia, Australian Competition, Consumer Commission, Thomson Locations: Bengaluru

☆ Dell's first-quarter results fall less than feared on cost cuts
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

The stock was halted after the company announced results during regular trading hours, earlier than its schedule for an after-market release. "We maintained pricing discipline, reduced operating expenses, and our supply chain continued to perform well after normalizing ahead of competitors," said Chuck Whitten, co-chief operating officer of Dell. Total operating expenses reduced 6% to $3.57 billion during the quarter. First-quarter revenue fell 20% to $20.92 billion, compared with analysts' expectations of $20.27 billion, according to Refinitiv data. Dell's client solutions unit - home to its consumer and enterprise PC business - posted a 23% fall in sales, while the infrastructure solutions unit, which includes servers, storage devices and networking hardware, saw an 18% decline.

Persons: Chuck Whitten, Dell, Tiyashi Datta, Mariam Sunny, Pratyush Thakur, Devika Organizations: Dell Technologies Inc, HP Inc, Lenovo Group, HK, Dell, Thomson Locations: Bengaluru

☆ The stock market's strong 2023 performance comes down to just 5 massive companies
▼ + stars: | 2023-06-01 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Anyway, this lopsided distribution is exactly what's showing up in the stock market right now. The S&P 500 has climbed about 9.2% this year, but just five stocks are powering most of that gain in an even more extreme rendition of the Pareto distribution. In previous streaks of strong outperformance of five months or more by supersized companies, he pointed out that the S&P 500 has averaged returns of 6.7% in the subsequent six months. "[P]utting mega caps aside, we found that narrow market breadth in general does not represent a bad omen for S&P 500 performance despite the contrary narrative being pushed by many investors," Belski added. What's your outlook for the rest of the stock market this year, not including mega-caps?

Persons: Phil Rosen, ChatGPT, Tim Cook, Jerod Harris, Brian Belski, Belski, Elon Musk, Jonathan Ernst, Redfin, Larry Pitkowsky, Bitcoin, Max Adams, Nathan Rennolds Organizations: Apple, Getty, Nvidia, Microsoft, BMO, Reuters, Dell Technologies, Broadcom, Bank of America Locations: Beijing, China, United States, New York, London

"We maintained pricing discipline, reduced operating expenses, and our supply chain continued to perform well after normalizing ahead of competitors," said Chuck Whitten, co-chief operating officer of Dell. Total operating expenses fell 6% to $3.57 billion during the first quarter. The company's revenue dropped 20% to $20.92 billion, but came in above analysts' expectations of $20.27 billion, according to Refinitiv data. Dell's client solutions unit - home to its consumer and enterprise PC business - posted a 23% fall in sales, while the infrastructure solutions unit, which includes servers, storage devices and networking hardware, saw an 18% decline. The Texas-based company expects second-quarter revenue to be between $20.2 billion and $21.2 billion, below expectations of $21.2 billion at midpoint.

Persons: Chuck Whitten, Dell, Tiyashi Datta, Mariam Sunny, Pratyush Thakur, Devika Organizations: Dell Technologies Inc, HP Inc, Lenovo Group, HK, Dell, Thomson Locations: Texas, Bengaluru

☆ HP misses revenue estimates as inflation saps PC demand
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +1 min

Global PC shipments declined nearly 30% in the January-March period to levels lower than before the pandemic, according to data from research firm IDC. Sales for HP's Personal Systems segment - home to its desktop and notebook PCs - dropped 29% in the reported quarter, while the company's printing segment recorded a 5% fall. HP said it expects second-half revenue to be higher than the first half, even though the year-on-year comparison will still be negative. California-based HP's second-quarter revenue was $12.91 billion. On an adjusted basis, HP earned 80 cents per share, compared with expectations of 76 cents.

Persons: Enrique Lores, Tiyashi Datta, Jeffery Dastin, Devika Organizations: HP Inc, Companies, HP, Lenovo, HK, Dell Technologies Inc, Global, IDC, Reuters, Thomson Locations: California, Bengaluru, Palo Alto

☆ Factbox: Tech firms, Wall Street lead job cuts in Corporate America
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +8 min

read moreSpotify Technology SA (SPOT.N):Music streaming service Spotify is cutting 6% of its workforce, or roughly 600 roles. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. Workday Inc (WDAY.O):The software company will cut roughly 500 jobs, or 3% of its workforce, citing a challenging macroeconomic environment. Morgan Stanley (MS.N):The Wall Street powerhouse is planning to cut about 3,000 jobs in the second quarter, Reuters reported. MANUFACTURING SECTOR3M Co (MMM.N):The industrial conglomerate said it would cut 2,500 manufacturing jobs after reporting a lower profit.

☆ Stocks making the biggest premarket moves: Uber, Pfizer, Chegg, Dell & more
▼ + stars: | 2023-05-02 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Chegg — Chegg shares tumbled 42% in premarket trading after CEO Dan Rosensweig said he expects artificial intelligence is "having an impact on our new customer growth rate." However, its adjusted earnings per share and revenue for the first quarter beat estimates, per Refinitiv. NXP Semiconductors — Shares of the chip maker jumped about 5% after the company beat analysts' expectations for first-quarter revenue and operating income. However, its first-quarter revenue beat analysts' expectations, according to Refinitiv. The company is also planning an up to $2 billion share buyback after its annual general meeting.

☆ Stocks making the biggest moves midday: Uber, Chegg, Dell, PacWest, SoFi & more
▼ + stars: | 2023-05-02 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Uber — Shares of the ride-hailing giant jumped more than 8% after the company reported first-quarter revenue that beat analysts' expectations. Still, the company did beat expectations for the quarter and provide strong guidance. NXP Semiconductors — Shares of the chipmaker added more than 2% after the company beat analysts' expectations for first-quarter revenue and operating income. Revenue guidance for the second quarter was better than anticipated as well. The global bank also announced an upcoming $2 billion share buyback program and restored its quarterly dividend.

☆ This tech stock can rally 25% as PC market bottoms, Morgan Stanley says
▼ + stars: | 2023-05-02 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Morgan Stanley thinks the personal computer market has likely bottomed and has pegged Dell Technologies as big beneficiary. The firm upgraded shares of the tech and PC company to overweight from equal weight. "We believe the PC market is forming a bottom, and we want to own Dell for the cyclical PC market rebound," analyst Erik Woodring said, noting that the first quarter likely marked the worst of the PC downturn. "Looking at prior PC downcycles, (2011-2013), DELL's stock bottomed one quarter ahead of the PC market bottom. Given we model PC market Y/Y declines bottoming in 1Q23, we believe the trough in DELL's stock could already be behind us," Woodring said.

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