DIRS.INFO The most relevant business & tech news

☆ Microsoft just ramped up its cloud rivalry with Google by accusing it of 'shadow campaigns'
▼ + stars: | 2024-10-29 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Microsoft leads Google in cloud market share, while Amazon Web Services is at the top. AdvertisementMicrosoft publicly accused Google of running "shadow campaigns" to undermine its business and influence cloud regulation in Europe, in an escalation of the tech giants' rivalry. A Google spokesperson told Business Insider the company had been "very public" about concerns with Microsoft's cloud licensing. In the second quarter, Google Cloud generated $10.35 billion in revenue, while Microsoft's Azure, included as part of the company's Intelligent Cloud group, reported $28.5 billion in revenue. AdvertisementIn 2023, Google Cloud generated $33.7 billion in sales, while Microsoft's Intelligent Cloud group reported $96.8 billion in sales.

Persons: —, Rima Alaily, Alaily, Nicky Stewart, Stewart Organizations: Microsoft, Google, Amazon, Service, Cloud Coalition, Open Cloud Coalition, European Commission, Big Tech, Amazon Web Services, Department of Justice, Games Locations: Europe

☆ Gold prices flat as dollar strength counters safe-haven demand
▼ + stars: | 2024-10-02 | by ( ) www.cnbc.com time to read: +2 min

Gold bar bullions ingot, selective focus, crisis safe haven for investment or reserve for country economics. Gold prices were flat on Wednesday, as a firmer dollar partially offset safe-heaven demand amid heightened Middle East tensions, while investors awaited U.S. data for further economic cues. Spot gold held its ground at $2,659.79 per ounce, as of 0325 GMT, after rising more than 1% in the previous session. "Gold benefited from safe-haven demand during a risk-off session on Tuesday. Meanwhile, physical demand for gold in key markets has dropped due to high prices, with some retail consumers selling their holdings to lock in profits, industry players and analysts said.

Persons: Benjamin Netanyahu, Bullion, Matt Simpson, payrolls, Simpson Organizations: Israel, Index, Federal Reserve, NFP, Traders Locations: Iran, Tehran

☆ Jim Cramer examines Wednesday's brutal tech sell-off
▼ + stars: | 2024-07-24 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer looked at what might have spurred Wednesday's Big Tech sell-offs, reviewing why investors may have been disappointed with earnings from Alphabet and Tesla . Cramer was impressed with the strength in the company's search business, as well as its Google Cloud revenue, which topped estimates at $10.35 billion. But Cramer said CEO Elon Musk "told a great story of self-driving technology, sorely needed energy production, not to mention humanoid robots." Cramer suggested both Alphabet and Tesla might not have declined if the market wasn't in the midst of a broader rotation out of tech. Cramer also examined stocks that have been seeing gains on the S&P 600 — the S&P's small cap index — as investors sell the mega caps.

Persons: CNBC's Jim Cramer, it's, Tesla, Cramer, Elon Musk Organizations: Big Tech, Nasdaq, Google, ATI, Ensign Group, SPS Commerce, Mueller

☆ We are hiking our price target on Eaton as demand for AI computing power heats up
▼ + stars: | 2024-04-30 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

Sales, earnings, segment profit margin, and organic growth all came in ahead of expectations, despite some minor misses in certain operating segments. In addition to the strong headline results, Electrical Americas, its biggest division, realized another record for sales, segment profit, and segment margins — driven partly by data center demand for AI computing power. Electrical Americas achieved yet another record for sales, segment profit, and segment margins with management noting strength in the data center market. Management expects a segment margin of 22.4% to 22.8%, ahead of the 22.4% midpoint estimate. Electrical Americas achieved yet another record for sales, segment profit, and segment margins with management noting strength in the data center market.

Persons: Eaton, Parker, Craig Arnold, Arnold, Jim Cramer's, Jim Cramer, Jim Organizations: Revenue, LSEG, Hannifin, DuPont, Honeywell, Electrical, Management, Aerospace, CNBC, Eaton Corporation, NYSE, NYSE Eaton Locations: North America, Electrical Americas, U.S, Eaton, Americas

☆ Warren Buffett's love for Japan may be far from over after $8 billion paper profit
▼ + stars: | 2024-04-21 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway has made billions of dollars from its big investments in Japan, and the Oracle of Omaha's love for the land of the rising sun is only growing deeper. The Omaha-based conglomerate priced 263.3 billion Japanese yen of bonds worth $1.7 billion, marking one of its biggest yen bond sales, according to a regulatory filing released Thursday. The cost of the positions was 1.6 trillion yen ($10.35 billion) and the 2023 yearend market value of the five stakes was 2.9 trillion yen ($18.76 billion), Berkshire revealed in its annual report. Meanwhile, the five Japanese trading companies are all dividend payers, yielding from 1% to more than 3%. Buffett even paid a visit to Japan with his designated successor Greg Abel and met with the heads of the Japanese firms last year.

Persons: Warren, Berkshire Hathaway, Buffett, Chamath Palihapitiya, Greg Abel Organizations: Berkshire, Mitsubishi, Mitsui, Sumitomo ., Tokyo Stock Exchange Locations: Japan, Omaha, Berkshire, Sumitomo . Berkshire

☆ BYD amps up brutal China EV price war with bigger discounts on new car versions
▼ + stars: | 2024-02-28 | by ( ) www.cnbc.com time to read: +1 min

BYD Han EV sedan is on display during the Shanghai International Automobile Industry Exhibition on April 18, 2023 in Shanghai, China. The newly launched Han sedans, available as plug-in hybrids and pure EVs, and the Tang hybrid SUV, will have a starting price that is 10.35% to 14.3% lower than previous versions, Reuters calculations showed. The automaker lowered the starting price for the Qin Plus EV and hybrid by 15% and 20%, respectively, versus price cuts of 8% and 11% respectively for the two models in 2023, Reuters calculations showed. The starting price for the Tang hybrid was unchanged last year from 2022, when BYD launched the Champion Edition of that model but the new version of Tang hybrid this year is 14% cheaper. It unveiled a sportscar U9 under the Yangwang brand on Sunday with a starting price of 1.68 million yuan ($233,353).

Persons: Tang, BYD, Tesla Organizations: Shanghai International Automobile Industry, Tang, Qin Locations: Shanghai, China

☆ Stocks making the biggest moves midday: Warner Bros. Discovery, Rivian, Block, Live Nation and more
▼ + stars: | 2024-02-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Discovery — Shares dropped 10% after the media conglomerate posted disappointing fourth-quarter results and failed to give 2024 free cash flow guidance. Discovery reported a loss of 16 cents per share on revenue of $10.28 billion. Analysts polled by LSEG, formerly known as Refinitiv, had expected a per-share loss of 7 cents on revenue of $10.35 billion. Carvana — Shares of the used car marketplace jumped 34% after the struggling company posted its first-ever annual profit. Insulet — Shares slipped 4.5% after the company reported a disappointing revenue forecast for the first quarter.

Persons: DraftKings, Rivian, Bloomin, overshadowing, Nio, LSEG, Carvana, William Blair, Raymond James, Nextdoor, Nirav Tolia, Insulet, FactSet, EOG, —, Alex Harring, Samantha Subin, Brian Evans, Lisa Kailai Han, Jesse Pound, Michelle Fox, Sarah Min Organizations: Warner Bros, —, Discovery, LSEG, Barclays, UBS, Holdings, EV, JPMorgan Locations: U.S

☆ Stocks making the biggest moves premarket: Block, Live Nation, Carvana, Booking Holdings & more
▼ + stars: | 2024-02-23 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Live Nation Entertainment — Shares of the entertainment platform popped nearly 5% following a fourth-quarter revenue beat. On the other hand, however, the company reported fourth-quarter earnings and revenue figures that surprised to the upside. Carvana — Shares of the used car marketplace surged 33% in premarket trading after the struggling company posted its first-ever annual profit. Quarterly profit and revenue results were weaker than analysts expected, although the company reported strong fourth-quarter earnings than analysts anticipated. Penumbra — The medical device maker fell more than 7% on the back of mixed fourth-quarter results and lackluster full-year guidance.

Persons: LSEG, overshadowing, Insulet, Carvana, William Blair, Raymond James, MercadoLibre, Jason Bazinet, Penumbra, DraftKings, — CNBC's Michelle Fox, Hakyung Kim, Tanaya Macheel, Sarah Min, Jesse Pound, Samantha Subin Organizations: Intuit, Revenue, Holdings, FactSet, UBS, Fox, Citi, ESPN, Warner Bros, JV, JPMorgan, Barclays, Discovery

☆ We're hiking Eaton price target on signs the post-earnings rally to all-time highs has legs
▼ + stars: | 2024-02-01 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Of the 18% that have actually started construction, Eaton has seen a strong win rate of approximately 40% for its electrical equipment. Electrical Americas achieved all-time record sales, profit, and margins with broad base growth in nearly all its end markets. Electrical Global also achieved record sales and profits as organic growth increased 4% year over year, a nice pickup from the flat third quarter. Both book-to-bill ratios are above 1.1, indicating strong growth for the future. By end market, Eaton expects Electricals Americas organic growth of 9% to 11% with operating margins around 26.8% to 27.2%.

Persons: Eaton, Jim Cramer's, Jim Cramer, Jim Organizations: Revenue, LSEG, Electrical, Electrical Global, It's Aerospace, Boeing, Aerospace, Jim Cramer's Charitable, CNBC, Eaton Corporation, NYSE Locations: North America

"It is hard to understand how the ECB ended up buying the bonds of property companies, while at the same time warning of the risks of property price inflation," former ECB chief economist Otmar Issing told Reuters. But data this week shows the central bank still owned the two bonds issued by SBB as of Nov. 24. While Sweden is not in the euro zone, SBB issued the debt bought by the ECB in neighbouring Finland, which is. Alongside the SBB bonds, the ECB also hoovered up the debt of other property companies which have since hit problems, including Sweden's Heimstaden. The ECB also gobbled up many German real estate bonds, including 39 issued by Vonovia, which has been selling property to cut debt.

Persons: Otmar Issing, Daniel Gros, Gros, Sweden's, Heimstaden, it's, Alexander Smith Organizations: SBB, European Central Bank, ECB, Reuters, Research, Institute, European, Bocconi University, Fitch, Vonovia, Thomson Locations: FRANKFURT, Europe, Germany, Sweden, Milan, Swedish, Finland

☆ Uniper swings to $10 billion net profit as gas prices fall
▼ + stars: | 2023-10-31 | by ( Christoph Steitz | ) www.reuters.com time to read: +2 min

A person stands at escalators near the Uniper logo at the utility's firm headquarters in Duesseldorf, Germany, July 8, 2022. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsCompanies Uniper SE FollowGazprom PAO FollowFRANKFURT, Oct 31 (Reuters) - Germany's Uniper (UN01.DE), which was bailed out during Europe's energy crisis, swung to a nine-month net profit of 9.77 billion euros ($10.35 billion), boosted by falling gas prices that positively impacted future provisions. The result compares with a net loss of 40.3 billion euros in the same period last year, when ballooning costs to replace Russian gas threw the company into its biggest crisis ever, triggering a government rescue. The results come a week after Uniper detailed its outlook for 2023, expecting adjusted operating profit (EBIT) of 6 billion to 7 billion euros and full-year adjusted net profit of 4 billion to 5 billion euros. At the end of September, liabilities tied to derivatives, which grow or shrink in line with gas price developments, stood at 26 billion euros, down from 216 billion a year earlier.

Persons: Wolfgang Rattay, Jutta Doenges, Christoph Steitz, Rachel More, Kirsten Donovan Organizations: REUTERS, Gazprom PAO, Gazprom, Thomson Locations: Duesseldorf, Germany, FRANKFURT, Frankfurt, Ukraine

☆ Global Payments lifts profit forecast on strong consumer spending
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

Oct 31 (Reuters) - Global Payments (GPN.N) raised its annual profit forecast and beat Wall Street estimates for third-quarter profit on Tuesday, as strong consumer spending drove growth in its merchant-focused business. Global Payments now expects annual adjusted profit of between $10.39 and $10.45 per share, up from a prior range of $10.35 to $10.44 per share. That has helped companies like Global Payments, whose fees are strongly correlated to spending volumes. Peer Fiserv (FI.N) last week also raised its full-year profit forecast after its quarterly earnings nearly doubled. Excluding one-off items, Global Payments earned $2.75 per share in the third quarter.

Persons: Peer Fiserv, Arasu Kannagi Basil, Milla Nissi Organizations: Wall, Global, Thomson Locations: The Atlanta , Georgia, Bengaluru

☆ Fast food chains are improving their drive-thru speed, survey finds
▼ + stars: | 2023-10-02 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +4 min

Wendy’s saw a reduction in 88 seconds, Chick-fil-A by 73 and Carl’s Jr. by 43. Fast food giants have been racing to improve their drive-thrus in a race to speed up service. Service time also decreased by 4 seconds, while total drive-thru time decreased by 29 seconds. But Chick-fil-A continued to dominate in fastest total time by car, which divides the average total time by the average cars in line. McDonald’s test location lagged behind in accuracy compared to other fast food restaurants, the survey found.

Persons: Carl’s Jr, Dunkin ’, Sarah Beckett, Taco Bell, Dunkin Organizations: New, New York CNN, Intouch, KFC, Taco Bell, Intouch Insight, Bell, Taco, Intelligence Locations: New York, White, Wendy’s, Burger, Brooklyn Park , Minnesota, Fort Worth , Texas

☆ This apparel company's earnings are poised for growth over the next two years, Guggenheim says
▼ + stars: | 2023-09-18 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Ralph Lauren 's solid fundamentals have translated to a promising long-term growth outlook, according to Guggenheim. The firm upgraded shares of the apparel company to a buy rating from neutral on Monday, and initiated a price target of $166. Shares of Ralph Lauren have climbed nearly 8% since the start of 2023. RL YTD mountain Ralph Lauren stock year to date Analyst Robert Drbul cited the company's strong balance sheet and attractive valuation as reasons for the upgrade. The analyst expects Ralph Lauren's earnings to benefit from several cyclical tailwinds and boosted his estimates for the next two years.

Persons: Ralph Lauren, Lauren, Robert Drbul, Ralph Lauren's, Drbul, Michael Bloom Organizations: Guggenheim

☆ Here are Thursday's biggest analyst calls: Apple, Amazon, Nvidia, Adobe, Pinterest, TJX, SoFi & more
▼ + stars: | 2023-08-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Citi reiterates Nvidia as buy Citi said it's bullish heading into Nvidia earnings next week. Citi reiterates Apple as buy Citi said it's bullish heading into the company's iPhone 15 launch. Oppenheimer reiterates Nvidia as outperform Oppenheimer said it's bullish on shares of Nvidia heading into earnings next week. Bank of America reiterates TJX Companies as buy Bank of America said the stock is "well positioned for continued market share gains." Bank of America reiterates Wells Fargo as buy Bank of America said Wells Fargo has one of the most attractive risk/rewards of the big banks.

Persons: it's, Charles Schwab, Jefferies, KeyBanc, Key, Oppenheimer, Rosenblatt, Evercore, Bill Ready, Meta, SoFi, Wells, Wells Fargo Organizations: Citi, Nvidia, NVIDIA, JPMorgan, Deutsche Bank, Deutsche, Novartis, Amgen, Apple, Arista, Networking, BMO, Green, Bank of America, Adobe, of America Adobe, TJX Companies, Enphase Energy Locations: Mexico, Sunrun

During Greece's peak power demand this year, also on July 24, solar photovoltaics covered 3.5GW of the total 10.35GW demand, grid operator IPTO said. Even in cooler and less sunny western countries such as Belgium, solar energy has covered more than 100% of the extra energy needed during midday spikes in power demand. Analysts say a second factor has helped to keep Europe's energy systems running this summer: overall, power demand has been relatively low. That has been the case since Europe's energy crisis last year, when Russia cut gas deliveries to Europe. "The only reason why this has been bearable is the low power demand environment that we're currently in," Refinitiv's Gerl said.

Persons: Nicolas Economou, Kristian Ruby, Electrica, Nathalie Gerl, IPTO, Spain's, Refinitiv's Gerl, Simone Tagliapietra, Kate Abnett, Susanna Twidale, Barbara Lewis Organizations: REUTERS, Analysts, Energy, European Commission, SolarPower, Thomson Locations: Rhodes, Greece, Europe, BRUSSELS, LONDON, Spain, Ukraine, Catania, Etna, Sicily, Athens, Belgium, Russia

LAUNCESTON, Australia, May 22 (Reuters) - The spot price of liquefied natural gas (LNG) in Asia is in the sweet spot of being low enough to boost buying interest, but not so low that it sparks a surge in demand. The decline in spot LNG prices has seen demand in key Asian importers hold steady, according to data compiled by commodity analysts Kpler. The seasonal softness can be seen in Japan's May imports dropping to an expected 4.24 million tonnes from 5.0 million in April and 5.55 million in March. However, it's likely that the decline in spot prices will only boost demand from June onwards, and there are some early signs that this is already happening. The lower spot price in Asia is also working to boost buying interest in Europe, with May imports expected at 12.28 million tonnes, up a smidgeon from April's 12.27 million.

☆ Wall St rallies on debt ceiling optimism, regional bank rise
▼ + stars: | 2023-05-17 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

President Joe Biden and top U.S. congressional Republican Kevin McCarthy on Wednesday reiterated their determination to strike a deal soon to raise the debt ceiling and avoid an economically catastrophic default. A jump in regional bank shares lifted sentiment, led by a 10.19% surge in Western Alliance Bancorp (WAL.N) a day after the bank said deposits grew by more than $2 billion in the quarter ended May 12. The KBW regional bank (.KRX) shot up 7.28% to notch its biggest one-day percentage gain since Jan. 6, 2021 to close at its highest level since May 1. The S&P 500 banks index also surged 4.46% for its biggest daily percentage gain since Nov. 10. "It is optimism over the debt ceiling.

☆ Loblaw forecasts annual profit above estimates on strong grocery demand
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

Feb 23 (Reuters) - Canadian retailer Loblaw Cos Ltd (L.TO) forecast annual earnings above analysts' expectations on Thursday, helped by strength in its pharmacy business and as demand holds up for groceries. Loblaw expects full-year 2023 adjusted earnings per common share to grow in low double-digits compared with the average analyst estimate of 9.64%, according to Refinitiv IBES data. The company's fourth-quarter revenue rose about 10% to C$14.01 billion ($10.35 billion), topping the average estimate of C$13.75 billion. On an adjusted basis, Loblaw earned C$1.76 per share, beating analysts' expectations of C$1.71 per share. ($1 = 1.3533 Canadian dollars)Reporting by Aatrayee Chatterjee in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

But COVID-19 vaccine sales exceeded diminished expectations and demand for cancer drug Darzalex helped drive the fourth-quarter profit beat. The company reported $689 million in quarterly COVID-19 vaccine sales from outside the United States. J&J said it expects U.S. sales of Stelara to be flat to lower in 2023 due to competition from less expensive biosimilars in certain regions. It forecast adjusted 2023 earnings of $10.45 to $10.65 per share, above analysts' estimates of $10.35. Excluding items, J&J earned $2.35 per share for the quarter, topping analysts' estimates by 12 cents, according to IBES data from Refinitiv.

Organizations: & $

☆ J&J forecasts 2023 profit above expectations on pharma strength
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

Shares of the drugmaker, however, fell 1% to $166.12 in premarket trading as fourth-quarter sales missed analysts' estimates due to lower demand for its medical devices. J&J expects to earn between $10.45 and $10.65 per share on an adjusted basis for 2023, above analysts' estimates of $10.35 per share profit at the midpoint. The higher 2023 profit forecast also reflects better-than-expected cost controls by J&J, Edward Jones analyst John Boylan said. Darzalex sales were $2.08 billion, while analysts were expecting $2.02 billion, according to Refinitiv. Excluding items, J&J earned $2.35 per share, above analysts' average estimates of $2.23 per share, according to IBES data from Refinitiv.

Organizations: & $

☆ J&J forecasts strong 2023 profit on strength in pharma unit
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: 1 min

Jan 24 (Reuters) - Johnson & Johnson (JNJ.N) on Tuesday forecast annual profit above Wall Street estimates as it bets on stronger demand for its pharmaceuticals products and a recovery in its medical devices business. J&J said it was expecting to earn between $10.45 and $10.65 per share on an adjusted basis for 2023, above analysts' estimates of $10.35 per share profit at midpoint. The healthcare conglomerate also beat estimates for fourth-quarter profit on Tuesday as increased sales of pharmaceutical products helped it weather a hit from a stronger dollarExcluding items, J&J earned $2.35 per share, above analysts' average estimates of $2.23 per share, according to IBES data from Refinitiv. Reporting by Manas Mishra and Bhanvi Satija in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Organizations: & $

☆ Big Czech crown interventions less likely, central banker says
▼ + stars: | 2022-11-13 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

Czech Crown coins and notes are seen in this picture illustration taken April 1, 2017. In July, the Czech National Bank (CNB) used 10 billion euros ($10.35 billion) of its massive international reserves to support the crown. Intervention amounts eased to 2.6 billion euros in September, according to bank data. Interventions have kept the crown in a tight range and on the strong side of 24.78 since they started. The CNB’s reserves dropped to 131.6 billion euros at the end of October, or about 48% of expected 2022 gross domestic product, from 160.4 billion euros seen in April.

☆ Large explosion in Taiwan's CPC Dalin oil refinery, no injuries
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Oct 28 (Reuters) - An explosion hit Taiwan's state-backed CPC Dalin Refinery in the southern city of Kaohsiung on Thursday night, videos and images from the Fire Department showed with heavy fire seen above the plant, officials said, adding nobody was hurt in the incident. The city's fire department said flames were put out early on Friday and no one was injured or trapped as per an initial investigation. CPC spokesperson Ray Chang said there was "very limited impact" on the company's output, as it has several other such units in its facilities across the island. The unit, which has a capacity of 40,000 barrels per day according to Refinitiv Eikon, is used to remove sulphur from oil products. The incident happened during routine maintenance at the plant, the city government said.

☆ 3M warns of weak consumer spending, cuts full-year forecast
▼ + stars: | 2022-10-25 | by ( Kannaki Deka | ) www.reuters.com time to read: +2 min

Oct 25 (Reuters) - Post-it maker 3M Co (MMM.N) said on Tuesday it expected weak consumer spending to continue into the upcoming holiday season and cut its full-year forecasts, echoing broader concerns of an uncertain economic environment. "Consumer spending continues to be weak," 3M Chief Financial Officer Monish Patolawala said on a post-earnings call with analysts. That cut in spending has also impacted 3M, which makes equipment such as electronic accessories and power cable connectors. The diversified manufacturer, which gets 60 percent of its revenue from outside the United States, cut its full-year revenue and profit forecasts earlier on Tuesday, while also citing ongoing macroeconomic and geopolitical uncertainty. 3M reported third-quarter revenue of $8.62 billion, missing the average analyst estimate of $8.70 billion, according to Refinitiv data.

Search resuls for: "10.35"

25 mentions found