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☆ Stocks making the biggest moves after hours: Roku, Cisco Systems, Twilio and more
  + stars: | 2023-02-15 | by ( Sarah Min | ) www.cnbc.com   time to read: +2 min
The streaming device company reported a loss of $1.70 per share, better than the forecasted $1.73 per share from analysts polled by Refinitiv. Cisco Systems — Shares advanced 4% in extended trading after Cisco Systems surpassed expectations in its latest earnings results. The digital communications company reported earnings of 88 cents per share, slightly higher than consensus estimate from Refinitiv that showed 86 cents earnings per share. Twilio — The stock jumped 12% in extended trading after Twilio reported a revenue beat. The silicon design company beat earnings expectations in the first quarter, but revenue came in line with expectations.
☆ Twilio shares surge on better-than-expected revenue, buyback
  + stars: | 2023-02-15 | by ( ) www.reuters.com   time to read: 1 min
Feb 15 (Reuters) - Twilio Inc (TWLO.N) shares rose 12% in extended trading on Wednesday after the cloud communications platform reported a better-than-expected quarterly revenue and said it would buy back shares worth $1 billion. The company reported a revenue of $1.02 billion for the fourth quarter, compared with analysts' estimates of $1.00 billion, according to Refinitiv data. It also reported a smaller loss for the period. Reporting by Granth VanaikOur Standards: The Thomson Reuters Trust Principles.
☆ Tech’s meltdown has also erased the dream job for Gen Z.
  + stars: | 2023-02-14 | by ( Diamond Naga Siu | ) www.businessinsider.com   time to read: +5 min
While maybe I should dream bigger, keeping expectations low could also be a good thing — people shouldn't dream of labor. And that's a wake up call for many Gen Z workers who once aspired to work in Big Tech. Gen Z says goodbye to dream tech jobs. Several top-ranked engineering schools told my colleague Aki Ito that Big Tech companies have been noticeably absent at career fairs since September. Aki breaks down the crumbling Gen Z dream-job and what that means for the tech industry.
☆ Twilio to Lay Off 17% of Staff in Second Round of Cuts
  + stars: | 2023-02-13 | by ( Will Feuer | ) www.wsj.com   time to read: 1 min
Twilio Inc. said it is laying off about 17% of its employees, its second round of job cuts in about five months, and reducing certain employee perks as the cloud-communications company moves to prioritize profit over growth. Chief Executive Jeff Lawson said Monday that the company is reorganizing into two business units: Twilio Communications and Twilio Data & Applications. Khozema Shipchandler , the current chief operating officer, will serve as head of the new communications unit, while Elena Donio , president of revenue, will head up the Data & Applications business.
☆ Twilio to Lay Off 17% of Workers in Second Round of Cuts
  + stars: | 2023-02-13 | by ( Will Feuer | ) www.wsj.com   time to read: 1 min
Twilio Inc. said it is laying off about 17% of its employees, its second round of job cuts in about five months, and reducing certain employee perks as the cloud-communications company moves to give priority to profit over growth. Chief Executive Jeff Lawson said Monday that the company is reorganizing into two business units: Twilio Communications and Twilio Data & Applications. Khozema Shipchandler , the current chief operating officer, will serve as head of the new communications unit, while Elena Donio , president of revenue, will head up the Data & Applications business.
☆ Stocks making the biggest moves midday: Zillow, Microsoft, Meta, Fidelity National and more
  + stars: | 2023-02-13 | by ( Michelle Fox | ) www.cnbc.com   time to read: +3 min
Microsoft — The technology corporation's shares rose more than 3% on Monday, pushing its market cap over $2 trillion once again, after Morgan Stanley reiterated its overweight rating for the stock. Ralph Lauren — Shares of the apparel giant rose almost 4% after Bank of America upgraded the stock to buy from neutral. Meta — The Facebook parent's stock rose nearly 3% after the Financial Times reported it is planning another round of layoffs. Five Below — The discount retailer's stock rose 2.9% after Roth MKM upgraded it to buy from hold, noting it sees attractive growth ahead. Late last week, Reuters reported that Tesla must open its supercharging network to competitors in order to qualify for U.S. subsidies.
☆ Twilio to lay off about 1,500 employees, or 17% of its workforce
  + stars: | 2023-02-13 | by ( Ashley Capoot | ) www.cnbc.com   time to read: +2 min
Twilio on Monday announced plans to cut around 17% of its workforce, or roughly 1,500 jobs based on the 8,992 employees reported as of Sept. 30, 2022, in a company filing with the Securities and Exchange Commission. Twilio announced the layoffs in a blog post shared on its website. Lawson said Twilio is forming two business units to help the company spend less and become more efficient. One unit, Twilio Data & Applications, will be led by Elena Donio, and the second unit, Twilio Communications, will be led by Khozema Shipchandler. In January, Google revealed plans to lay off more than 12,000 workers, Microsoft announced plans to cut 10,000 employees and Salesforce said it planned to lay off 7,000 workers.
☆ Twilio to cut 17% staff, close offices
  + stars: | 2023-02-13 | by ( ) www.reuters.com   time to read: 1 min
Feb 13 (Reuters) - Cloud communications company Twilio Inc (TWLO.N) said on Monday it was eliminating about 17% roles and closing some offices. Reporting by Yuvraj Malik in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
☆ Twilio plans to lay off 17% of staff, internal email shows
  + stars: | 2023-02-13 | by ( Ashley Stewart | ) www.businessinsider.com   time to read: +2 min
Twilio plans to lay off 17% of its staff, according to an internal email. "This is upsetting to be sure, so I want to share with you the reasons for making this tough decision, as well as some other changes," Lawson wrote. The company is also reorganizing to create new business divisions: Twilio Data & Applications, led by Elena Donio, and Twilio Communications, led by Khozema Shipchandler. Lawson's email said affected employees would be notified within three hours of the announcement via their personal addresses. Twilio's business boomed during the pandemic when demand for its communication services soared, and it hired thousands of new staff.
☆ Twilio announces another round of layoffs, reorg in profit push
  + stars: | 2023-02-13 | by ( ) www.reuters.com   time to read: +1 min
Feb 13 (Reuters) - Cloud communications company Twilio Inc (TWLO.N) said on Monday it was eliminating about 17% roles and closing some offices as part of a restructuring effort to focus on profitability. Technology firms have laid off thousands of workers recently as they brace for a period of lower demand, high interest rates and macro economic instability. The move, which is the second instance of job cuts in five months, sent the company's share up 2%. Twilio will also reorganize the company into two units, Twilio Communications and Twilio Data and Applications. Reporting by Yuvraj Malik in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
☆ Twilio executives scheduled an unusual Sunday meeting right before the Super Bowl, and now employees are worried about a reorg or layoffs
  + stars: | 2023-02-12 | by ( Ashley Stewart | ) www.businessinsider.com   time to read: +4 min
Twilio CEO Jeff Lawson scheduled a meeting with other top execs just before the Super Bowl. The meeting, and other developments, have stoked employee concern about a possible reorg and more layoffs. Twilio co-founder and CEO Jeff Lawson has an unusual meeting scheduled with other top executives of the tech company an hour or so before the Super Bowl starts on Sunday. The recently organized gathering has employees anticipating big changes, including a potential reorganization and maybe more layoffs. The employee said Twilio recently moved the results date back, although didn't know the reason.
☆ Key inflation data in the week ahead will offer clues to future Fed rate moves and the market's path
  + stars: | 2023-02-11 | by ( Zev Fima | ) www.cnbc.com   time to read: +8 min
Looking forward The January consumer price index (CPI) , which calculates the average change over time in prices that shoppers pay for goods and services, is slated for Tuesday. Economists and investors will use the number to gauge the odds of a soft landing or hard landing for the economy. The producer price index (PPI) for January, which calculates the change in selling prices received by producers of goods and services, is out on Thursday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
☆ These innovation stocks owned by Cathie Wood have double-digit upside, according to analysts
  + stars: | 2023-02-06 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
Cathie Wood just scored her best month ever as her innovation stocks staged a big comeback, and some of her darlings still have double-digit upside ahead, according to Wall Street analysts. Wood's flagship Ark Innovation ETF (ARKK) jumped 27.8% in January alone, notching its strongest month since its inception in 2014 . We looked at companies with at least five analysts covering them, and these names below all have more than 10% upside in the next 12 months, according to FactSet. Wall Street analysts are most bullish on Ginkgo Bioworks , seeing the stock rally more than 140% in the next 12 months. Other biotech names in the space that analysts love are Verve Therapeutics , CRISPR Therapeutics , Beam Therapeutics and Twist Bioscience.
☆ Amazing start to the year for stocks, but warning signs are flashing
  + stars: | 2023-02-03 | by ( Bob Pisani | ) www.cnbc.com   time to read: +2 min
Amazing start to the year for stocks, but there are warning signs. "In seven of the ten other instances [where the S & P was up at least 7% by Feb. 2nd], the S & P continued higher for the remainder of the year," according to Jeffrey Yale Rubin, director of research at Birinyi. In eight of the 10 years where the S & P was up at least 7% by Feb. 2nd, the S & P moved at least 10% in the remainder of the year, according to Rubin. It is fairly unusual for major indexes like the Nasdaq and S & P 500 to go into overbought territory. while tech stocks have been heavily bought (the Nasdaq-100, a barometer of tech interest, is up 17% year to date).
☆ How shopping sites are using psychology to trick you into spending more — and 3 ways to avoid them
  + stars: | 2023-01-31 | by ( Avery Hartmans | Danni Santana | ) www.businessinsider.com   time to read: +10 min
Online retailers use psychological tricks and tools to get consumers to make purchases. Offering incentives for adding more items to online carts like free shipping is another example of the psychological tricks a retailer can play. Buy online, pick up in storeBuy online, pick up instore was all the rage during the pandemic. So much of how we shop and make purchase decisions is subconscious, he said, and while you may rationally know that scarcity is a marketing tactic, your subconscious doesn't. Tips for avoiding retailers' marketing tricksJust being aware of these marketing tactics isn't enough to protect you from them, Goldberg said.
☆ As Deal Making Picks Up, Tech Chiefs Worry About Software Integration
  + stars: | 2023-01-27 | by ( Angus Loten | ) www.wsj.com   time to read: +6 min
That is a potentially costly process that can require overhauling existing enterprise tech stacks, or even hiring high-priced experts to manage new IT tools, analysts said. SHARE YOUR THOUGHTS How can tech executives smooth the integration of new digital tools when their vendors make acquisitions? Hewlett Packard Enterprise this month said it acquired Pachyderm and would integrate new software tools into its enterprise-tech platform. HPE this month said it acquired Pachyderm, a San Francisco-based software startup, and would integrate the new software tools into its enterprise-tech platform. “Our existing customer base will want to know they won’t be forced to replace an existing technology they already buy,” Mr. Hotard said.
☆ Tech Chiefs Fear ‘Frankenstein’ Software Integrations
  + stars: | 2023-01-25 | by ( Angus Loten | ) www.wsj.com   time to read: +6 min
Microsoft Corp. this month said it plans to incorporate AI into all of its enterprise software, while boosting its multibillion-dollar investment in OpenAI, the startup behind chatbot ChatGPT. That is a potentially costly process that can require overhauling existing enterprise tech stacks, or even hiring high-priced experts to manage new IT tools, analysts said. Hewlett Packard Enterprise this month said it acquired Pachyderm and would integrate new software tools into its enterprise-tech platform. HPE this month said it acquired Pachyderm, a San Francisco-based software startup, and would integrate the new software tools into its enterprise-tech platform. “Our existing customer base will want to know they won’t be forced to replace an existing technology they already buy,” Mr. Hotard said.
☆ Greenlight's David Einhorn is shorting innovation stocks like those held by Cathie Wood
  + stars: | 2023-01-17 | by ( Yun Li | ) www.cnbc.com   time to read: +3 min
Einhorn also said he is still short some 'bubble' names. Driving the stellar performance was a successful bet against what seemed to be the constituents of Wood's flagship ARK Innovation ETF (ARKK) . "In early 2021, we also identified an actively-managed ETF of so called 'innovation' stocks that appeared to us to have significantly similar characteristics to our bubble names," stated the letter. ARKK 1Y mountain ARK Innovation ETF's 1-year sell-off Einhorn said he created another "bubble" basket with 31 names totaling 6.5% of capital in January of last year. Einhorn said this bubble basket remained in the portfolio but he has covered some positions.
☆ Market history says a recession could produce the next Airbnb or Slack
  + stars: | 2023-01-12 | by ( Riley De León Eric Rosenbaum | Riley De León | Eric Rosenbaum | ) www.cnbc.com   time to read: +7 min
More than a decade later, those that heeded this advice went on to become game-changing tech behemoths, including CNBC Disruptor 50 companies Block , Pinterest , Slack, Twilio , and Cloudera. Seed rounds had a record deal value in 2022, and valuations continued to grow even as late-stage venture companies nearer to the public market suffered. Venture funds raised a record amount of money in 2022, with $162.8 billion closed across 769 funds, according to PitchBook and the NVCA. We've seen companies struggle as public companies and then skyrocket, so a lower value-IPO is not the end of the road." "But when you can generate new share in a difficult market, when the market does turn, they are in a perfect position to capture more market share and customers."
☆ Final call: Nominate a company for CNBC's 2023 Disruptor 50 list
  + stars: | 2023-01-11 | by ( Cnbc.Com Staff | ) www.cnbc.com   time to read: +2 min
CNBC is now accepting nominations for the 2023 Disruptor 50 list — our annual look at the most innovative venture-backed companies using breakthrough technology to meet increasing economic and consumer challenges. The IPO market has collapsed in lockstep: only three Disruptor 50 companies went public in 2022, compared to a record-breaking 20 companies in the year prior. Last month, another Disruptor 50 fintech firm, Checkout.com, slashed its internal valuation to $11 billion, versus a previous investor valuation of $40 billion. Klarna raised financing at a $6.7 billion valuation last year, an 85% discount to its prior valuation of $46 billion. But it's workers who have been hit the hardest by these severe haircuts: at least one-third of companies on the 2022 Disruptor 50 list announced layoffs last year, signaling leaner times ahead.
☆ The tech IPO market collapsed in 2022, and next year doesn't look much better
  + stars: | 2022-12-29 | by ( Ari Levy | ) www.cnbc.com   time to read: +7 min
The Stockholm-based company raised financing at a $6.7 billion valuation this year, an 85% discount to its prior valuation of $46 billion. Butler doesn't expect the IPO market to get appreciably better in 2023. Butler also thinks that Silicon Valley has to adapt to a shift away from the growth-first mindset before the IPO market picks up again. Butler said he expects this "cultural reset" to take a couple more quarters and said, "that makes me remain pessimistic on the IPO market." Databricks raised $1.6 billion at a $38 billion valuation in August of 2021, near the market's peak.
☆ Meet the VC firms that want to help immigrants found their own startups so they keep their talents in the US
  + stars: | 2022-12-28 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +3 min
Immigrants play a vital role in the US tech industry, and many have founded successful companies. These VC firms and startup incubators can help immigrants on work visas found companies. But that opportunity simply isn't available to a certain key class of tech worker: The immigrants who are in the US on work visas like the H-1B. H-1B visas are sponsored by the holder's employer, meaning that if they lose their job — either voluntarily or as part of a layoff — they generally have to return to their home country within 60 days. Insider spoke with four firms that focus on investing in immigrant founders, which represent a mix of VC firms and startup incubators, about how to pitch them and which types of resources they could provide.
☆ From Amazon to The Trade Desk, experts predict these companies will be the most active acquirers of advertising businesses next year
  + stars: | 2022-12-27 | by ( Lara O'Reilly | ) www.businessinsider.com   time to read: +7 min
There's a strong interest from acquirers in hot trends like commerce media and data consultancy. Experts predicted the companies most likely to be acquirers of advertising businesses in 2023. Many industry observers expect advertising industry M&A deal volume and value to be down next year due to volatile macroeconomic conditions. Experts across the advertising industry — from consultants, to agency executives, analysts, investors, and adtech leaders — named the companies likely to be active in the advertising M&A market in 2023 and why. Apple could make an under-the-radar adtech acquisition for its sleeping giant advertising businessIndustry insiders predict Apple has big plans for its $5 billion-and-growing advertising business next year.
☆ Here are the 34 tech companies most likely to be snapped up by private equity firms like Vista and Thoma Bravo in 2023, according to bankers and market data
  + stars: | 2022-12-24 | by ( Ben Bergman | Stephanie Palazzolo | ) www.businessinsider.com   time to read: +22 min
With a stock price down 45% in the last year, though, it may soon find itself on the other side of the table. But it has $732 million in cash on hand, with zero debt, and analysts are projecting 16% revenue growth. This year, though, Varonis has come back to earth — its stock price has sunk over 57% in the last 12 months. However, with strong projected 2023 revenue growth of 18.6%, Zuora remains a strong target for PE firms. Its stock price has been hammered, going down about 40% this year and making it the subject of mergers-and-acquisitions chatter.
☆ Here are the 34 tech companies most likely to be on the holiday shopping lists of private-equity firms after valuations plunged this year, according to bankers and private data
  + stars: | 2022-12-15 | by ( Ben Bergman | Stephanie Palazzolo | ) www.businessinsider.com   time to read: +22 min
With a stock price down 45% in the last year, though, it may soon find itself on the other side of the table. But it has $732 million in cash on hand, with zero debt, and analysts are projecting 16% revenue growth. This year, though, Varonis has come back to earth — its stock price has sunk over 57% in the last 12 months. However, with strong projected 2023 revenue growth of 18.6%, Zuora remains a strong target for PE firms. Its stock price has been hammered, going down about 40% this year and making it the subject of mergers-and-acquisitions chatter.
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