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Investments in renewables will be more selective, the group said, adding it would spend 12.1 billion euros in onshore wind, solar and battery storage. It will devote 49% of gross capex to investments in Italy, up from a 48% in the previous plan, which envisaged investment of 37 billion euros including 17 billion for renewables. Flavio Cattaneo, who succeeded long-serving CEO Francesco Starace in May, said the new 2024-26 business plan would turn Enel into a leaner and more flexible group. Enel said its net ordinary income was expected to grow to between 6.6 billion and 6.8 billion euros next year and rise to 7.1-7.3 billion euros in 2026. ($1 = 0.9168 euros)Reporting by Francesca Landini, editing by Giulia SegretiOur Standards: The Thomson Reuters Trust Principles.

Persons: Flavio Cattaneo, Francesco Starace, Cattaneo, Enel, Francesca Landini, Giulia Segreti Organizations: MILAN, Investments, Thomson Locations: Italy

☆ Big Oil has a place in ESG funds, says Deutsche Bank CIO
▼ + stars: | 2023-11-21 | by ( Tommy Wilkes | ) www.reuters.com time to read: +3 min

Fossil fuel stocks have boomed (.dMIWO0OG00PUS) since Russia's invasion of Ukraine in February 2022 sent fossil fuel prices soaring, leaving the performance of environmental, social and governance (ESG) funds lagging. Pure-play renewable energy stocks such as Orsted (ORSTED.CO) and First Solar (FSLR.O) have also fallen sharply this year as higher interest rates and inflationary pressures squeeze profitability. European oil and gas companies including BP (BP.L) and Shell (SHEL.L) have increased renewable energy investment, although they are expanding production of dirtier energy too. Sustainability-minded investors, Müller said, needed more disclosures from firms about their plans for shifting to lower-carbon models, and regulatory clarity on labelling transition-focused funds. Morningstar estimates that 45% of funds have exposure to traditional energy, totalling 7 billion euros ($7.6 billion).

Persons: Markus Müller, Müller, Tommy Reggiori Wilkes, Susan Fenton Organizations: Deutsche Bank's Private Bank, Reuters, BP, Shell, ISR, Morningstar, Investors, Deutsche, Investment Office, Thomson Locations: Ukraine, France, Europe

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Amazon, Boeing, Tesla, Dell, Microsoft & more
▼ + stars: | 2023-11-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Raymond James reiterates Nvidia as strong buy Raymond James said it's bullish heading into Nvidia earnings on Tuesday. Bernstein reiterates Tesla as underperform Bernstein said it's standing by its underperform rating on Tesla as EV growth is slowing. JPMorgan upgrades Dutch Bros to overweight from neutral JPMorgan said the coffee chain has "strong available liquidity" to continue to grow. " JPMorgan downgrades Krispy Kreme to neutral from overweight JPMorgan downgraded the stock mainly on valuation. " Melius initiates Dell as buy Melius Research initiated Dell with a buy and said it's an "inexpensive" way to play AI.

Persons: Wolfe, ChargePoint, Jefferies, it's bullish, Raymond James, it's, Stifel, Wells, Bernstein, Tesla, underperform Bernstein, BTIG, Morgan Stanley downgrades Chegg, Morgan Stanley, LT, Hewlett Packard Evercore, Goldman Sachs, Krystal, Goldman, Penn, Energizer, Sherwin, Williams, Dell, Oppenheimer, OpenAI's Sam Altman, Sam Altman Organizations: Cedar Fair, SIX, Nvidia, Resources, MNR, ARM, Acorn, Apple, JPMorgan, Deutsche Bank, Boeing, Deutsche, Bros, Brands, Hewlett, Krystal Biotech, " Bank of America, of America, ESPN, PENN Entertainment, ESPN Bet, Citi, UBS, Kosmos Energy, Bank of America, CSN, HSBC, Caterpillar, BMO, Wedbush, Research, Microsoft Locations: NVDA, China, ENR, Brazil, Australia, Vale, 2024e

A board displaying stock prices is adorned with the Australian Securities Exchange (ASX) logo in central Sydney, Australia, February 13, 2018. That will, however, take time, with the overhaul now expected to finish in 2029, some 13 years after it began. It also prompted the Australian Securities and Investments Commission (ASIC) to open an investigation into the exchange's disclosures about the project. ASX said it expected the first stage of the new project, clearing software, to cost between A$105 million and A$125 million with delivery around 2026. The cost and timing of the settlement and other software will be decided in 2024.

Persons: David Gray, Tim Whiteley, Joe Longo, Longo, Byron Kaye, Himanshi, Edwina Gibbs Organizations: Australian Securities Exchange, REUTERS, Tata Consultancy Services, New, Australian Securities and Investments Commission, Thomson Locations: Sydney, Australia, India, Finland, Canada, New York, Bengaluru

☆ Morgan Stanley: These are the best 65 stocks to buy in 2024 as investors face macroeconomic headwinds, lower growth, and restrictive monetary policy
▼ + stars: | 2023-11-19 | by ( Mark Reeth | ) www.businessinsider.com time to read: +8 min

Here's how Morgan Stanley thinks the stock market will move in 2024, the economic warning signs investors should watch for, and which stocks are best positioned to outperform next year. A stronger stock market in 2024You'd think with the myriad problems stocks are facing right now that the market is in for a difficult year ahead. Wilson believes that earnings growth will accelerate as the year progresses. Morgan StanleyBeyond strong earnings growth for individual companies, Wilson expects that increased spending in a variety of industries will provide fiscal support across the market. Guided by the themes above, Wilson polled Morgan Stanley analysts for their top stock picks heading into 2024.

Persons: Morgan Stanley, Michael Wilson, Morgan Stanley Wilson, Wilson, Jerome Powell Organizations: Business, Reserve, Walmart, Target, Fed, White House Locations: headwinds, bailouts

Nov 16 (Reuters) - Swedish games developer Embracer (EMBRACb.ST) topped second-quarter operating profit expectations on Thursday, aided by its restructuring efforts, sending its shares up more than 11%. The group, which owns the rights to the Tomb Raider and Lord of the Rings games, reported a 14% drop in adjusted operating profit to 1.8 billion Swedish crowns ($170.2 million) in the quarter through September, but beat analysts' forecast of 1.62 billion crowns. The decline was mainly due to a lower contribution from PC and console games, it said. It announced major restructuring plans in June, after a $2 billion partnership deal with an undisclosed company fell through in May. Embracer's shares have lost nearly a half of their value since it warned on profit in May.

Persons: Embracer, Hans, Marius Ludvigsen, Lars Wingefors, Wingefors, Jesus Calero, Milla Nissi, Sharon Singleton, David Evans Organizations: The Entertainment, Services, Reuters, Thomson Locations: Swedish, Embracer, U.S, Gdansk

☆ Monthly Meeting Q&A with Jim Cramer on 20 stocks in everything from tech to industrials to drugs
▼ + stars: | 2023-11-16 | by ( Paulina Likos | ) www.cnbc.com time to read: +12 min

(Anthony) Jim Cramer: There were some China statistics that showed that the consumer was doing slightly better. (David) Jim Cramer: The roadblock is that the money is at the state level. (Narayan) Jim Cramer: " Own, don't trade" is about trying to keep us in a stock that otherwise we would trade out of. (Jim) Jim Cramer: First, I think we have to remember Ford actually has a lot of money on its balance sheet — a lot of cash. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jeff Marks, Estee Lauder, Anthony, Jim Cramer, Wynn, It's, David, I'm, Narayan, it's, Steve Jobs, John, Tom Jorden, That's, Capex, Paul, Procter, Jim Farley, Jim, Ford, Shawn Fain, Farley, Donald, Larry Culp, He's, GEHC, Eli Lily, Louis, Lilly, Zepbound, We've, Alzheimer's, tirzepatide, hasn't, Edmundo, we've, haven't, Linde, Theresa, Jim Cramer Rob Kim Organizations: Investing Club, Club, Caterpillar, Amazon, Nvidia, Apple, Web Services, Natural Resources, Exxon, Procter, Gamble, United Auto Workers, GE Healthcare, Electric, GE, General, Merck, Drug Administration, Novo Nordisk, Linde, LIN, Trust, Barrick, CNBC Locations: China, reaccelerate, GEHC

"Given the absence of a growth engine, it wouldn't surprise me if the Japanese economy contracted again in the current quarter. The risk of Japan falling into recession cannot be ruled out," said Takeshi Minami, chief economist at Norinchukin Research Institute. "The weak growth and the spectre of slowing inflation could delay the BOJ's exit from negative interest rates," he said. Japan’s economy contracts in the third quarterThe weak reading reflects lacklustre consumption and capital expenditure, dashing policymakers' hopes for a post-pandemic rebound in domestic activity to offset weaker external demand from China and elsewhere. He said better net exports, underpinned by car shipments and tourism, helped lift growth in the second quarter, belying the weakness in domestic demand.

Persons: Androniki, Takeshi Minami, Stefan Angrick, Angrick, Fumio Kishida, Tetsushi Kajimoto, Sam Holmes Organizations: REUTERS, Norinchukin Research, Gross, Moody's, Thomson Locations: Tokyo, Japan, TOKYO, China

☆ China's SMIC sees lower Q4 gross margin, lifts annual capex forecast
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

A logo of Semiconductor Manufacturing International Corporation (SMIC) is seen at China International Semiconductor Expo (IC China 2020) following the coronavirus disease (COVID-19) outbreak in Shanghai, China October 14, 2020. REUTERS/Aly Song/File photo Acquire Licensing RightsNov 9 (Reuters) - Semiconductor Manufacturing International Corp (0981.HK) on Thursday lifted its annual capital expenditure forecast to around $7.5 billion and said it expects lower fourth-quarter gross margins. SMIC expects a gross margin of between 16% and 18% in the fourth quarter, compared with 19.8% in the third quarter. Revenue for the third quarter fell to $1.62 billion from $1.91 billion a year ago, but the company expects a sequential increase of 1% to 3% in the fourth quarter. SMIC had previously said it expects capital expenditure in 2023 to be roughly flat compared with 2022, which came in at about $6.35 billion.

Persons: Aly, TSMC, Germany's, SMIC, Nausheen, Devika Organizations: Semiconductor Manufacturing International Corporation, China International Semiconductor, REUTERS, Semiconductor Manufacturing International Corp, HK, SMIC, Revenue, Thomson Locations: Shanghai, China, Bengaluru

☆ Brazil's Petrobras lifts 2023 forecast for oil and gas output
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

Brazil's state-run oil company Petrobras logo is pictured at its building in Rio de Janeiro, Brazil July 17, 2023. REUTERS/Ricardo Moraes Acquire Licensing RightsCompanies Petroleo Brasileiro SA Petrobras FollowRIO DE JANEIRO, Nov 9 (Reuters) - Brazil's state-run oil company Petrobras (PETR4.SA) raised its projection for oil and gas production this year, after posting a 41.5% decrease in third-quarter profit on Thursday. Latin America's top oil producer posted a recurring net profit of 27.2 billion reais ($5.51 billion), while analysts polled by LSEG had expected 28.74 billion reais. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the period shrank 27.6% to 66.19 billion reais ($13.41 billion). Petrobras also said it will pay shareholders 1.344365 reais per share, totaling 17.5 billion reais in dividends.

Persons: Ricardo Moraes, LSEG, Fabio Teixeira, Chris Reese, Lincoln Organizations: Petrobras, REUTERS, Petroleo Brasileiro SA Petrobras, RIO DE, PETR4, Thomson Locations: Brazil's, Rio de Janeiro, Brazil, RIO DE JANEIRO, Brent, Santos, Campos

☆ Analysts believe Rivian is turning around, Goldman sees 40% upside
▼ + stars: | 2023-11-08 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Rivian shares, meanwhile, are up 9% this month. What analysts are saying Goldman analyst Mark Delaney raised his price target by $2 to $25, implying shares can gain 43.5% from Tuesday's close. "If we gain more conviction in the timing/path to profitability we could be more positive on the stock," Delaney said. RIVN YTD mountain Rivian stock. He still raised his price target by $5 to $24, which implies shares can gain 37.8% over the next 12 months.

Persons: Goldman Sachs, Morgan Stanley, Rivian, Tesla, Ford, Goldman, Mark Delaney, Delaney, Chris McNally, McNally, Wells, Colin Langan, …, Langan, Piper Sandler, Alexander Potter Organizations: General Motors, Ford, Tesla, ISI Locations: North America, Tuesday's, Wells Fargo, Georgia, U.S

He also lowered his price target by $6 to $120, implying just 3.9% upside from Tuesday's close. Analyst Shaun Kelley has a $40 price target on shares, implying shares could gain 11.4% from Tuesday's close. Rivian shares jumped more than 7% after the company increased its production forecast for the full year by 2,000 units to 54,000. Datadog shares have produced zero return over the past three years, Murphy noted, with shares down 9% since Oct. 15, 2020. UBS has a neutral rating on Apple and a price target of $190 per share, which implies upside of 4.5%.

Persons: Cowen downgrades Estee, TD Cowen, Estee Lauder, Oliver Chen, Chen, — Hakyung Kim, Shaun Kelley, Kelley, Goldman, Goldman Sachs, Neil Mehta, Mehta, There's, Colin Langan, Langan, Piper Sandler, Alexander Potter, Potter, Rivian, Mark Delaney, Morgan Stanley, Jonas, Mark Murphy, Murphy, David Vogt, Vogt, Fred Imbert Organizations: CNBC, Tech, UBS, JPMorgan, Revenue, Asia, Bank of America, Industry, Mehta ., Wall Street, Rivian, pullbacks, Pro, Pro Max, Apple Locations: China, Asia Pacific, Europe, Middle East, Africa, Tuesday's, U.S

Net profit fell to $32.6 billion for the quarter to Sept. 30, above the $31.8 billion expected by 12 analysts in a company-provided forecast. The Saudi oil producer said lower oil prices and volumes were partially offset by a reduction in production royalties, which are linked to Brent prices. Chevron (CVX.N) and Exxon Mobil (XOM.N) last month reported sharp year-on-year falls in third-quarter profit as energy prices cooled. Saudi Aramco logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. Back in 2021, Saudi Arabia's de facto ruler, Crown Prince Mohammed bin Salman, said that Saudi Aramco would sell more shares, with the proceeds going to bolster the PIF, the Vision 2030's main funding source.

Persons: Brent, Aramco's, Dado Ruvic, Prince Mohammed bin Salman, Hadeel Al Sayegh, Yousef Saba, Miral Fahmy, Jason Neely, Tomasz Janowski Organizations: DUBAI, Saudi Aramco, Chevron, Exxon Mobil, Reuters Graphics, OPEC, Aramco, REUTERS, Investment Fund, Energy, RBC, Riyadh bourse, Wall Street, Thomson Locations: Saudi, Reuters Graphics Saudi Arabia, Saudi Arabia, Aramco, Riyadh

☆ Coterra Energy beats expectations on its most important line item: free cash flow
▼ + stars: | 2023-11-06 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Oil and natural gas producer Coterra Energy (CTRA) delivered strong results Monday after closing bell, including beating expectations where it matters most: free cash flow. Bottom line All line items are important, but it's free cash flow that supports cash returns to shareholders. But it's important to remember that cash flow is a function of energy prices, and is therefore largely out of management's control. Guidance Operating and free cash flow guidance missed expectations, but the numbers are purely a function of oil prices and out of management's control. Bottom lineAll line items are important, but it's free cash flow that supports cash returns to shareholders.

Persons: It's, Coterra, Jim Cramer's, Jim Cramer, Jim, Nick Oxford Organizations: Coterra Energy, LSEG, buybacks, Management, CNBC, Reuters Oil Locations: Wink , Texas

☆ Volatility is something we plan for, says Arista CEO Jayshree Ullal on Meta's CapEx spending
▼ + stars: | 2023-10-31 | 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 EmailVolatility is something we plan for, says Arista CEO Jayshree Ullal on Meta's CapEx spendingJayshree Ullal, Arista Networks CEO, joins 'Closing Bell Overtime' to talk Q3 earnings, the stock performance, what is ahead for the company and more.

Persons: Jayshree Ullal, Ullal Organizations: Arista, Arista Networks

☆ Wall Street has a new favorite AI pick
▼ + stars: | 2023-10-31 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Analysts on Wall Street think Arista Networks is the next premier artificial intelligence play. On Monday, the company reported a blowout third quarter that surpassed Wall Street expectations on both the top and bottom lines. Moving forward, analysts think the company can be the top player in the Ethernet application of AI. "While there remains risk heading into the 800G cycle, we continue to think Arista is well positioned." The analyst reiterated Arista as a top AI pick into 2024.

Persons: Morgan Stanley, Wells Fargo, Morgan Stanley's Meta Marshall, Marshall, Atif Malik, Malik, capex, Michael Bloom Organizations: Arista Networks, Arista, FactSet, Barclays, Citi Locations: Infiniband

☆ Lower prices, oversupply to weigh on lithium miners
▼ + stars: | 2023-10-30 | by ( Arunima Kumar | ) www.reuters.com time to read: +2 min

Lithium miners have had a tough year as weak electric vehicle (EV) sales growth led to high stockpiles and sent prices of the metal tumbling down. The Chinese spot battery grade lithium carbonate prices, fell around 45% to 165,000 Chinese Yuan ($22,561.63) per tonne during the July-September quarter. Reuters GraphicsAnalysts also flagged additional supplies from new projects coming online to further weigh on lithium prices. Albemarle is expected to report quarterly results on Wednesday, while smaller rival Livent is scheduled for Tuesday. ($1 = 7.3133 Chinese yuan renminbi)Reporting by Arunima Kumar in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Ivan Alvarado, Raymond James, Pavel Molchanov, Overcapacity, Jefferies, Laurence Alexander, Piper Sandler, Charles Neivert, Kyle Winborne, Arunima Kumar, Krishna Chandra Organizations: REUTERS, Albemarle Corp, EV, Reuters, Reuters Graphics, Thomson Locations: Albemarle, Antofagasta region, Chile, oversupplied, China, Livent, Bengaluru

☆ Ford pauses a $12 billion EV investment, after saying electric vehicles are too expensive
▼ + stars: | 2023-10-27 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Ford has postponed $12 billion in spending on EV manufacturing capacity. The company has warned that electric vehicles are too expensive and that demand is slowing. AdvertisementAdvertisementFord has halted billions of dollars in investment in EV manufacturing, warning that customers will not pay a premium for these vehicles. AdvertisementAdvertisementThe company stressed that it is still committed to spending on future EV models, however. "Electric vehicles are expensive," he said.

Persons: Ford, —, John Lawler, Lawler, Toshihiro Mibe, General Motors, Bill Ford Organizations: Service, EV, CNBC, Honda, Bloomberg, General, The New York Times Locations: Kentucky

☆ Big Tech earnings highlighted big spending on artificial intelligence. Here's what it means for AI king Nvidia
▼ + stars: | 2023-10-27 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +9 min

All four companies are buyers of Nvidia's cutting-edge AI chips, which dominate the market for training the massive models that power applications like the viral ChatGPT. "I think that Nvidia is the quiet partner behind the winners including Microsoft," Jim Cramer said Friday. Notably, about 3 percentage points of Azure's growth was linked to customer AI spending, Hood said. Amazon Amazon's results and earnings call Thursday added to the body of evidence on AI spending as a priority at U.S. tech giants. This week's slate of Big Tech earnings left little doubt that, as more Nvidia chips become available, there will be a place inside data centers for them to go.

Persons: haven't, —, Jensen Huang, Jim Cramer, NVDA, Jim, Amy Hood, Hood, Ruth Porat, Porat, Susan Li, Brian Olsavsky, Andy Jassy, Jassy, It's, Jim Cramer's, Jensen Huang Getty Organizations: Nvidia, Big Tech, Microsoft, Facebook, U.S, Google, Broadcom, AWS, Loop, Taiwan Semiconductor Manufacturing Company, CNBC Locations: China, OpenAI, Amazon's

☆ Investors deliver harshest punishment for earnings warnings in 16 years
▼ + stars: | 2023-10-27 | by ( Lucy Raitano | ) www.reuters.com time to read: +4 min

Barclays (BARC.L), a big UK lender, fell as much as 8% after signalling major cost cuts because of weakness on its home turf. Mark Denham, head of European equities at Carmignac, said high quality companies with high valuations tend to be very vulnerable if they miss earnings. According to Kasper Elmgreen, CIO at Nordea Asset Management, the fact that the economy is now starting to slow is one factor behind investors' harsh treatment of earnings disappointments. Amid the volatility, some investors see a buying opportunity in overly punished stocks. It is an example of a highly valued stock being extra punished for the environment," Denham said.

Persons: Morgan Stanley, Angelo Meda, Mark Denham, Denham, Kasper Elmgreen, Elmgreen, Fabio Di Giansante, Carmignac's Denham, Danilo Masoni, Alun John, Joice Alves, Amanda Cooper, Hugh Lawson Organizations: Sanofi, Barclays, Banor SIM, Siemens Energy, Volkswagen, Volvo, Asset Management, Euroland Equity, pharma, Thomson Locations: Milan, Swiss, London

☆ Analysts are bullish on Amazon's growth story ahead of its earnings
▼ + stars: | 2023-10-26 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

Investors are staying bullish ahead of Amazon's quarterly report Thursday as the company's cloud and consumer-focused businesses show signs of strength. Heading into Amazon's earnings announcement, some of the biggest firms were optimistic on the company's growth potential. Anmuth has an overweight rating and price target of $180 on shares, suggesting the stock could jump more than 48%. The firm kept its buy rating and $167 price target on shares, which implies 37.5% upside potential from Wednesday's close. Bank of America says more room for growth ahead Bank of America analyst Justin Post reiterated his buy rating while raising his price target to $154.

Persons: Doug Harrington, Doug Anmuth, Anmuth, Ronald Josey, Mark Mahaney, Morgan Stanley, Amazon Morgan Stanley, Justin Post, Michael Bloom Organizations: Deal, Amazon, Amazon Web Services, JPMorgan, Citi, " Bank of America, Bank of America Locations: Echo, India

☆ Goldman says dividend growth has been resilient and these stocks are the best at returning cash
▼ + stars: | 2023-10-25 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

He forecasts stable dividend growth of 5% this year and 4% in 2024. Chevron has a dividend yield of 3.6% in 2023, with a dividend compound annual growth rate of 5% to 2025. Its dividend compound annual growth rate of 8% to 2025 means the company's payout to its investors will continue to grow. The firm also has the highest dividend compound annual growth rate of 29% on the list. Investors can expect their cash returns to grow further through 2025, with a dividend compound annual growth rate of 14%.

Persons: Goldman Sachs, David Kostin, Kostin, Goldman, Hess, Blackstone, — CNBC's Michael Bloom Organizations: Devon Energy, Chevron, Wall Street, CNBC, Blackstone, Capri Holdings Locations: capex, Guyana, Delaware, Devon, Israel

☆ Taiwan chipmaker UMC sees demand stabilising, with 'rush' PC, smartphone orders
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

The logo of United Microelectronics Corporation (UMC) is seen at the company’s lobby at Hsinchu Science Park in Hsinchu, Taiwan, September 16, 2022. The semiconductor industry has come under pressure as global economic woes dent demand for chips used in everything from tablets to cellphones and cars. In an earnings release, UMC (2303.TW) co-President Jason Wang said it expected demand to gradually stabilise in the last three months of the year. "For the fourth quarter, with the recent rush orders from PC and smartphones, we expect demand has gradually stabilised," he said. However, the company kept its guidance for capital spending this year at $3 billion, compared with $2.7 billion for last year.

Persons: Ann Wang, TSMC, chipmaker, Jason Wang, Ben Blanchard, Jan Harvey Organizations: United Microelectronics Corporation, Hsinchu Science, REUTERS, United Microelectronics Corp, Qualcomm Inc, Germany's Infineon, UMC's, Thomson Locations: Hsinchu, Hsinchu Science Park, Taiwan, TAIPEI, U.S, UMC's Taipei

☆ Everyone in the semi sector wants to compete against Intel, says Trivariate's Adam Parker
▼ + stars: | 2023-10-24 | 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 EmailEveryone in the semi sector wants to compete against Intel, says Trivariate's Adam ParkerBryn Talkington, managing partner at Requisite Capital Management, and Adam Parker, funder & CEO of Trivariate Research, joins 'Closing Bell' to discuss AI development fueling the competition landscape semiconductors, how small cap margins compare to mega caps, and capex spending levels among tech stocks.

Persons: Trivariate's Adam Parker Bryn Talkington, Adam Parker, funder Organizations: Intel, Capital Management, Trivariate

Microsoft's chief financial officer Amy Hood said on a conference call with analysts that higher-than-expected AI consumption was responsible for a 3 percentage point boost to its cloud business. Alphabet has prioritized snaring AI startups as customers for its cloud division, while Microsoft has relied on its existing relationships to secure larger customers. Azure revenue rose 29%, higher than a 26.2% growth estimate from market research firm Visible Alpha. RBC Capital Markets has previously estimated that Microsoft will clock over $3 billion in revenue from generative AI offerings this fiscal year. Quite surprising to see strong growth reacceleration in the Azure Cloud segment, which is clearly driven by AI-as-a-service related demand," said Global X analyst Tejas Dessai.

Persons: Microsoft's, Bob O'Donnell, Bing, Bard, Amy Hood, Krishna Chintalapalli, capex, Akash Sriram, Anna Tong, Max Cherney, Yuvraj Malik, Greg Bensinger, Stephen Nellis, Sayantani Ghosh, Sonali Paul Organizations: Microsoft, Wall, Microsoft's, TECHnalysis, Parnassus Investments, DAZZLES, Alpha, RBC Capital Markets, Reuters Graphics Microsoft, Tejas Dessai, AWS, Thomson Locations: Bengaluru, Anna, San Francisco

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