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☆ Goldman Sachs names tech stocks with a 'strong runway' for growth — giving one upside of nearly 70%
  + stars: | 2023-01-30 | by ( Weizhen Tan | ) www.cnbc.com   time to read: +3 min
One corner of tech, software, might be seeing "limited appetite" from the market, according to Goldman Sachs. Goldman analysts forecast in a Jan. 23 note that the earnings per share (EPS) growth of software stocks may outpace the broader S & P 500 index this year. It gave Datadog a "buy" rating and a price target of $128, or an upside of nearly 70%. Software stocks were an investor favorite during the pandemic, but their popularity waned as economies reopened. Nevertheless, the tech sub-sector remains a key part of several long-term secular trends, such as cloud computing and artificial intelligence.
☆ ChatGPT creator OpenAI might be training its AI technology to replace some software engineers, report says
  + stars: | 2023-01-27 | by ( Samantha Delouya | ) www.businessinsider.com   time to read: +2 min
OpenAI has quietly hired hundreds of international contractors to help train its AI tech, according to Semafor. Some are teaching software engineering to AI, potentially paving the way to replace some human coders. The engineer told Semafor he thinks the company wants to feed the training data into its AI technology. OpenAI is also the owner of the buzzy AI chatbot, ChatGPT. Software engineering might be added to the list next.
☆ Sony's gaming chief met EU's Vestager on Microsoft's Activision deal -source
  + stars: | 2023-01-26 | by ( Foo Yun Chee | ) www.reuters.com   time to read: +1 min
BRUSSELS, Jan 26 (Reuters) - Sony's gaming chief Jim Ryan met EU antitrust chief Margrethe Vestager on Wednesday to discuss Microsoft's (MSFT.O) $69 billion bid for "Call of Duty" maker Activision Blizzard (ATVI.O), a person familiar with the matter said on Thursday. Microsoft is looking to Activision to help it compete better with leaders Tencent (0700.HK) and Sony (6758.T). The person declined to provide details of the discussion between Ryan and Vestager. The European Commission, which is scheduled to rule on the deal by April 11, did not immediately respond to a request for comment. The U.S. Federal Trade Commission has sued to block the deal while UK regulators have also expressed concerns.
☆ Tech drags European stocks lower on earnings jitters
  + stars: | 2023-01-25 | by ( Ankika Biswas | ) www.reuters.com   time to read: +3 min
The pan-European STOXX 600 (.STOXX) fell 0.3%, heading lower for a second day with technology (.SX8P) and telecom (.SX8P) declining the most. "The weak outlook painted by Microsoft is weighing on the wider tech sector," said Michael Hewson, chief markets analyst at CMC Markets in London. European stocks came under pressure on Tuesday, as an improvement in economic activity spurred speculation that the European Central Bank (ECB) might have more room to raise interest rates to tackle inflation. Boosting UK stocks, EasyJet PLC (EZJ.L) jumped 10.6% after projecting it would beat current market expectations for 2023 and deliver a full-year profit. Reporting by Ankika Biswas in Bengaluru; Editing by Subhranshu Sahu and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.
☆ Stock futures are little changed as Wall Street looks to build on back-to-back gains
  + stars: | 2023-01-23 | by ( Jesse Pound | ) www.cnbc.com   time to read: +1 min
Stock futures were largely flat on Monday evening as investors looked to continue a strong start to the week during a busy stretch of corporate earnings. S&P 500 futures and Nasdaq 100 futures were each lower by less than 0.1%. The muted move in futures comes after a solid start to the week on Wall Street. The gains have come despite an underwhelming start to earnings season and more signs that the U.S. economy is slowing. On Tuesday, General Electric, Johnson & Johnson and Verizon are among the key companies reporting earnings before the bell.
☆ Cramer on the astonishing rise of offensive stocks — and what could come next
  + stars: | 2023-01-22 | by ( Jim Cramer | ) www.cnbc.com   time to read: +6 min
When I went over about 1,000 stocks this weekend, I was astonished to see that the stocks with the strongest charts were those in the most offensive categories. Not even a weaker U.S. dollar has meant anything to brace these stocks from a further fall. There's one group, though, that's just plain hard to call, and that's tech. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
☆ Morgan Stanley upgrades this under-the-radar software stock poised to survive IT budget cuts
  + stars: | 2023-01-20 | by ( Samantha Subin | ) www.cnbc.com   time to read: +2 min
Budget cuts loom in the IT industry, but software stock PagerDuty is well situated to come out unscathed, according to Morgan Stanley. "Strong unit economics, highly ratable sub revenue and market leadership in an important category provide the backdrop for a strong pivot to profitability," Singh wrote. "At ~4x CY24 sales, we think shares undervalue PagerDuty's ability to sustain 20% growth, expand margins and generate" free cash flows. Software stocks face a difficult setup as companies look to trim IT budgets in a slowing growth environment. Despite these headwinds, Singh expects PagerDuty's growth to persist given its stable subscription model and move up from a predominant focus on small-to-medium-sized businesses.
☆ Microsoft faces EU antitrust warning over Activision deal - sources
  + stars: | 2023-01-16 | by ( Foo Yun Chee | ) www.reuters.com   time to read: +2 min
BRUSSELS, Jan 16 (Reuters) - Microsoft (MSFT.O) is likely to receive an EU antitrust warning about its $69 billion bid for "Call of Duty" maker Activision Blizzard (ATVI.O), people familiar with the matter said, that could pose another challenge to completing the deal. The European Commission is readying a charge sheet known as a statement of objections setting out its concerns about the deal which will be sent to Microsoft in the coming weeks, the people said. The EU antitrust watchdog, which has set an April 11 deadline for its decision on the deal, declined to comment. U.S. and UK regulators, however, have voiced concerns, with the U.S. Federal Trade Commission going to court to block the deal. Microsoft was expected to offer remedies to EU regulators in an attempt to avert a statement of charge and shorten the regulatory process, other sources familiar with the matter told Reuters in November.
☆ Davos 2023: Palantir CEO predicts hiring while preparing for economic slowdown
  + stars: | 2023-01-16 | by ( Jeffrey Dastin | ) www.reuters.com   time to read: +2 min
DAVOS, Switzerland, Jan 16 (Reuters) - Palantir Technologies Inc (PLTR.N) is still looking to grow its headcount even as it scrutinizes its spending and confronts economic uncertainty, its chief executive told Reuters. Economists surveyed by the World Economic Forum largely expect a recession this year. Asked about potential cuts, Karp said Palantir was doing well in the United States, United Kingdom and Canada while evaluating spend in slower markets. The top cloud providers are Amazon (AMZN.O), Microsoft (MSFT.O) and Google (GOOGL.O), though Karp said his company is "cloud agnostic." Reporting By Jeffrey Dastin in Davos, Switzerland; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.
☆ SEC Seeks Names of Public Companies Affected by Email Hack on Law Firm
  + stars: | 2023-01-12 | by ( Dave Michaels | ) www.wsj.com   time to read: 1 min
WASHINGTON—Regulators asked a federal court to require Covington & Burling LLP to hand over information about a 2020 breach of the law firm’s email systems that could have been used to facilitate illicit trading. The Securities and Exchange Commission said in its request for a court order that Covington was hacked in November 2020 by a group known as Hafnium responsible for a number of attacks on Microsoft Corp. software. Microsoft has said that group is a state-sponsored Chinese outfit that targeted vulnerabilities in versions of Exchange Server, an email and calendar application, that run on computer systems in physical offices.
☆ Burton Malkiel on why his classic investment book, 'A Random Walk Down Wall Street,' is relevant 50 years later
  + stars: | 2023-01-06 | by ( Bob Pisani | ) www.cnbc.com   time to read: +8 min
You recommended index funds 50 years ago even before index funds existed. Standard & Poor's publishes annual reports showing how actively managed funds compare with index funds. Random Walk means that the history of past stock market prices cannot be used to predict the future. Exchange Traded Funds (ETFs), most of which are tied to index funds, are continuing to rake in money. This suggests that returns over the next decade are likely to be below the 9%-10% long-run historical stock market returns.
☆ Investors anxiously await jobs report for clues about Fed rate hikes
  + stars: | 2023-01-05 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +7 min
Traders are betting on a further deceleration in jobs growth because that could lead to a reduction in the size of interest rate hikes by the Federal Reserve. Further strength could set off more alarm bells about inflation and Fed rate hikes. Focus on worker payWall Street will also need to dive even deeper into Friday’s jobs report to get a better sense of what’s happening in the economy. Investors cheered the fact that wage growth, measured by average hourly earnings, rose only 4.7% over the previous 12 months in October. Big Tech keeps handing out pink slipsOverall, the jobs market is still in good shape.
☆ Exclusive: Nexus Venture eyes $700 million fund to bet on India, U.S. tech startups
  + stars: | 2023-01-04 | by ( M. Sriram | ) www.reuters.com   time to read: +3 min
It would also expand the pool of funds available to startups, at a time when fundraising by Indian startups fell by a third last year to $24 billion, Venture Intelligence data showed. Founded in 2006, Nexus was one of the first Indian venture capital firms to invest in U.S. and India-based software startups. The new fund will be its seventh so far and take the firm's assets under management to more than $2 billion. The new fund has received a strong response from endowments, one of the sources said, without sharing names of any specific investors. Nexus was co-founded by Naren Gupta who ran a software company in the United States for 15 years before selling it to Intel.
☆ Gen Z lacks the communication and networking skills needed for the workforce. Companies need to train them.
  + stars: | 2022-12-29 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com   time to read: +4 min
Gen Z is falling behind in skills needed to enter the workforce. But experts say soft skills like communication and public speaking, which are more difficult to develop remotely, are holding Gen Z back. Insider spoke with three career coaches who explained the challenges of the Gen Z skills gap. Rezkalla mentioned that Gen Z has a harder time navigating LinkedIn because it's not as refined as other social media platforms. Companies will need to provide trainingThis soft-skills deficiency is not just a Gen Z problem, said career coach Anna Belyaeva.
☆ The Nasdaq had its worst year since 2008. These are the best and worst performers and what to expect in 2023
  + stars: | 2022-12-27 | by ( Samantha Subin | ) www.cnbc.com   time to read: +9 min
2022 brought an end to an impressive bull run for technology — and the worst year for the Nasdaq Composite since 2008. Energy stocks, meanwhile, found favor in investors' portfolios, as did healthcare and financials. Given this outlook, CNBC examined some of the worst and best-performing stocks in the Nasdaq 100 this year. Energy stocks Energy won 2022, benefitting from volatile oil prices triggered by the war in Ukraine. Meta Platforms was the worst-performing FAANG name, and one of the poorest-performing Nasdaq stocks.
☆ Palantir lands 75 million pound deal with British military
  + stars: | 2022-12-21 | by ( Jeffrey Dastin | ) www.reuters.com   time to read: +2 min
Dec 21 (Reuters) - Palantir Technologies Inc (PLTR.N) has signed a three-year, 75 million pound ($91.39 million) deal with the United Kingdom's Ministry of Defense, the U.S. software company said Wednesday, expanding its overseas military work months into the Ukraine war, Europe's biggest conflict since World War II. Palantir will aid military operations and intelligence, further widening access to its software across the defense ministry after a narrower pilot with the Royal Navy that started years ago. Abundant satellite imagery lets military analysts in little time detect changes on the battlefield, with artificial intelligence software identifying tanks, artillery or other targets. Despite the war, Palantir shares have tumbled like other tech stocks this year, falling by about half since March. ($1 = 0.8207 pounds)Reporting by Jeffrey Dastin; Additional reporting by Paresh Dave; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.
☆ EU regulators quiz rivals on Microsoft tactics after Activision
  + stars: | 2022-12-20 | by ( Foo Yun Chee | ) www.reuters.com   time to read: +3 min
[1/2] Activision games "Call of Duty" are pictured in a store in the Manhattan borough of New York City, New York, U.S., January 18, 2022. REUTERS/Carlo Allegri/File PhotoBRUSSELS, Dec 20 (Reuters) - EU antitrust regulators have asked game developers and distributors if they think Microsoft (MSFT.O) will block their access to Activision Blizzard's (ATVI.O) games once it has bought the company, an EU document seen by Reuters shows. "Please specify which partial exclusivity strategy or strategies you believe Microsoft would have the ability to deploy with respect to Activision Blizzard's console games after Microsoft's acquisition of Activision Blizzard," the questionnaire asked. The EU antitrust watchdog asked if such strategies would include degrading the quality or interoperability of Activision's games available on competing consoles or providing upgrades to Activision's games only on Xbox. Regulators asked what advantages and disadvantages game developers and publishers and console game distributors would face if a game is distributed exclusively on one console.
☆ Goldman Sachs reveals outlook for Greater China tech – and names its top picks for 2023
  + stars: | 2022-12-19 | by ( Zavier Ong | ) www.cnbc.com   time to read: +3 min
One segment of the stock market that has been particularly beaten down is the tech sector. Goldman Sachs , however, has a mixed outlook on the sector for 2023. In a note titled "Greater China Tech: Demand outlook by sub-sectors; key indicators and top picks for 2023" on Dec. 9, the bank shared its outlook and top stock picks for the various sub-sectors. Goldman's top picks in the automotive software segment include ThunderSoft, Desay and ArcSoft Corp, while the bank's top pick in the cybersecurity software segment is Beijing Venustech. Smartphones Goldman expects growth in the smartphones segment to remain flattish in 2023, driven by soft shipments in China.
☆ Here are Morgan Stanley's top software stock picks for 2023
  + stars: | 2022-12-19 | by ( Samantha Subin | ) www.cnbc.com   time to read: +3 min
The difficult outlook for software stocks should continue into 2023, but companies offering growth at a reasonable price stand to gain and come out on top, according to Morgan Stanley. Software stocks suffered a dismal 2022 as rising interest rates brought down stocks with sky high price-to-earnings ratios. Despite ServiceNow's decline of more than 39% this year, Morgan Stanley's $612 price target implies more than 55% upside from Friday's close. Along with its top picks, Morgan Stanley named a host of stocks poised to benefit in any recovery. Morgan Stanley also included Toast and Datadog as stocks to build positions in as interest rates subside and growth improves.
☆ The hidden upside of tech layoffs
  + stars: | 2022-12-14 | by ( Aki Ito | ) www.businessinsider.com   time to read: +7 min
In the midst of a wave of wholesale layoffs, many tech workers are somehow bouncing back stronger than ever. Ayas and her colleagues analyzed the fate of laid-off tech workers by looking at data from Parachute and Layoffs.fyi, both of which compile information provided by out-of-work employees. Today, not only are laid-off tech workers finding jobs quickly, Revelio Labs found, but 52% are actually earning more than they were before. That's not to say that laid-off tech workers will continue to face great job prospects forever. If the layoffs continue, the economy will eventually become oversaturated with tech workers — at which point their job searches will take longer, and more will be forced to accept lower salaries.
☆ Exclusive: Microsoft seeks to settle EU antitrust concerns over Teams -sources
  + stars: | 2022-12-12 | by ( Foo Yun Chee | ) www.reuters.com   time to read: +1 min
[1/2] Microsoft Teams app is seen on the smartphone placed on the keyboard in this illustration taken, July 26, 2021. REUTERS/Dado Ruvic/IllustrationBRUSSELS, Dec 12 (Reuters) - Microsoft (MSFT.O) is seeking to address European Union antitrust concerns about its business practices prompted by a complaint from Salesforce.com's (CRM.N) workspace messaging app Slack, people familiar with the matter said. Microsoft found itself in the European Commission's crosshairs again last year after Slack alleged that the U.S. software giant has unfairly integrated its workplace chat and video app Teams into its Office product. Microsoft introduced Teams in 2017, aiming for a slice of the fast-growing and lucrative workplace collaboration market. It has made a preliminary offer of concessions to allay the EU competition enforcer's concerns, one of the people said.
☆ Robots set their sights on a new job: sewing blue jeans
  + stars: | 2022-12-12 | by ( Timothy Aeppel | ) www.reuters.com   time to read: +5 min
[1/5] A robotic arm positions pieces of stiffened fabric for a demonstration of automated sewing at the Industrial Sewing and Innovation Center in Detroit, Michigan, U.S. August 19, 2021. Industrial Sewing and Innovation Center/Handout via REUTERSDec 12 (Reuters) - Will a robot ever make your blue jeans? Finding a way to cut out handwork in China and Bangladesh would allow more clothing manufacturing to move back to Western consumer markets, including the United States. Rather than teach robots how to handle cloth, the startup, Sewbo Inc., stiffens the fabric with chemicals so it can be handled more like a car bumper during production. The first step is getting robots into clothing factories.
☆ U.S. seeks to stop Microsoft's $69 bln bid for games maker Activision
  + stars: | 2022-12-08 | by ( ) www.reuters.com   time to read: +3 min
[1/2] A person walks past a Microsoft store in the Manhattan borough of New York City, New York, U.S., January 20, 2022. REUTERS/Carlo Allegri/File PhotoWASHINGTON, Dec 8 (Reuters) - The Biden administration filed a complaint on Thursday aimed at blocking tech giant Microsoft's (MSFT.O) $69 billion bid to buy "Call of Duty" games maker Activision , over concerns the deal would deny rivals access to popular games. Microsoft, which owns the Xbox, said in January 2022 that it would buy Activision for $68.7 billion in the biggest gaming industry deal in history. Shares in Microsoft and Activision both fell on news of the FTC complaint. Chair Lina Khan and the two Democrats on the commission voted to approve the complaint, while Commissioner Christine Wilson voted no.
☆ Exclusive: Microsoft likely to offer EU concessions soon in Activision deal - sources
  + stars: | 2022-11-28 | by ( Foo Yun Chee | ) www.reuters.com   time to read: +1 min
[1/3] Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. The U.S. software giant and Xbox maker announced the deal in January to help it compete better with leaders Tencent (0700.HK) and Sony (6758.T). Microsoft's remedy would consist mainly of a 10-year licensing deal to Playstation owner Sony, another person with direct knowledge said. The EU competition watchdog, which is scheduled to decide on the deal by April 11, declined to comment. We want people to have more access to games, not less," a Microsoft spokesperson said.
☆ Exclusive: Microsoft likely to offer EU concessions soon in Activision deal -sources
  + stars: | 2022-11-28 | by ( Foo Yun Chee | ) www.reuters.com   time to read: +2 min
[1/3] Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard logo in this illustration taken January 18, 2022. The U.S. software giant and Xbox maker announced the deal in January to help it compete better with leaders Tencent (0700.HK) and Sony (6758.T). The deadline for the European Commission, which is investigating the deal, to set out a formal list of competition concerns known as a statement of objection is in January. Microsoft's remedy would consist mainly of a 10-year licensing deal to Playstation owner Sony, another person with direct knowledge said. The EU competition watchdog, which is scheduled to decide on the deal by April 11, and Sony declined to comment.
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