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Informatica , a U.S.-listed software developer, is well-positioned to benefit from the rise of artificial intelligence, according to analysts at Scotiabank. The California-headquartered firm last month launched its AI model — CLAIRE GPT — which is designed to help businesses use their data for generative AI applications. Generative AI, or GenAI, is the technology behind the hugely popular chatbot ChatGPT and other similar products. According to FactSet, the average price target of 16 analysts points to a 39% upside for the stock. RBC Capital analysts expect the stock to rise by 43% to $41 a share over the next 12 months.
Persons: CLAIRE GPT, Patrick Colville, FactSet, Matthew Hedberg, Salesforce Organizations: Scotiabank, The, RBC Capital, Microsoft, Data Management, RBC, Wall Street Journal Locations: Informatica, U.S, The California, Snowflake
Oracle — The tech company's shares jumped nearly 9% after it announced cloud deals with Google and OpenAI, despite posting a miss on fiscal fourth-quarter results. Oracle posted adjusted earnings of $1.63 per share on revenue of $14.29 billion, while analysts expected earnings of $1.65 per share on $14.55 billion in revenue. Rubrik — Shares of the cloud data management company advanced 3% after beating first-quarter expectations on revenue. Rubrik reported $187 million in revenue for the period, while analysts polled by LSEG anticipated $172 million. Paramount — Shares slipped 0.4%, extending late-day losses.
Persons: LSEG, Rentokil, Nelson Peltz's Trian, Shari Redstone, Skydance, CNBC's David Faber Organizations: Oracle, Google, Nelson Peltz's Trian Partners, CNBC, Paramount, National
Five Below told investors to expect between $830 million and $850 million, while analysts polled by LSEG forecasted $883 million. Sprinklr — The business technology stock dove 21.1% in the wake of weak guidance for the current quarter and full year. StoneCo — The financial technology stock rose 2.6% following an upgrade to overweight from neutral by JPMorgan . Ultragenyx Pharmaceutical — The biopharma stock added nearly 4% following an upgrade to buy from neutral at Goldman Sachs. Shopify — The e-commerce technology stock slipped 1.6% on the back of a MoffettNathanson downgrade to neutral from buy.
Persons: Goldman Sachs, Smartsheet, LSEG, Sprinklr, Mizuho, there's, StoneCo, CH Robinson, Goldman, ISI's, Shopify, Guggenheim, , Jesse Pound, Michelle Fox, Lisa Kailai Han Organizations: Nvidia, LSEG, Revenue, Mizuho, JPMorgan, Ultragenyx Pharmaceutical, Goldman, eBay, Citi, UBS, BMO Capital, BMO, Viridian Therapeutics, ISI, Energy Locations: Americas
Mason Morfit, Salesforce board member and co-CEO of activist investor ValueAct, has increased his stake in Marc Benioff's software firm to just under $1 billion, acquiring $99 million worth of shares earlier this week, just days after the company reported its first revenue miss since 2006. The trade was disclosed in a regulatory filing Thursday, sending Salesforce shares up around 3.5% on the news in morning trading. The other activists eyeing Salesforce at the time included Elliott Management, Dan Loeb's Third Point, and Starboard Value. Earlier this year, Salesforce's widely reported pursuit of data management firm Informatica sent shares see-sawing before the putative target said it was not considering a sale. Salesforce shares briefly eclipsed their previous 2021 highs earlier this year, but have since given back those gains and are down 4% year-to-date.
Persons: Mason Morfit, ValueAct, Marc Benioff's, Morfit, Benioff's, eyeing Salesforce, Elliott, Dan Loeb's, Benioff, Salesforce's, Jeff Ubben, Bob Iger, Trian's Nelson Peltz, Ike Perlmutter, Salesforce Organizations: ValueAct, Elliott Management, Informatica, Microsoft, Marvel Locations: New York, U.S, Benioff
Today's cars have an unprecedented capacity to surveil people inside and around them, and it's raising alarms with privacy advocates. A growing chorus of advocates and politicians say automakers aren't doing enough to protect consumer data from companies, criminals or even the government itself. "Our cars aren't a means of independence and privacy anymore," said Jen Caltrider, director of the Mozilla Foundation's Privacy Not Included program, in an interview with CNBC. GM, Nissan, Stellantis and BMW responded with statements saying they take customer privacy and data protection very seriously and comply with all applicable laws. In late April, two senators asked the Federal Trade Commission to investigate automakers for allegedly deceiving customers about the companies' data management practices.
Persons: Jen Caltrider, Caltrider, Nissan Organizations: General Motors, LexisNexis, GM, CNBC, Solutions, Mozilla Foundation, Mozilla, Nissan, BMW, Alliance, Automotive Innovation, Pew Research, Federal Trade Commission Locations: Florida
Read previewSwedish telecommunications-equipment company Ericsson plans to shut down Emodo, the advertising business it launched in 2017, multiple people familiar with the matter told Business Insider. "Emodo was created in a strategic play for Ericsson to provide our telco customers with monetization opportunities through digital advertising," an Ericsson spokesperson said in a statement. Emodo had only this year brought on a new team to help it build AI-powered ad solutions for connected TV. The closure of Emodo marks the latest in a long line of telco-adtech collaborations that have bitten the dust. The Singaporean telecoms company Singtel divested its Amobee adtech division to the adtech company Tremor International, now known as Nexxen, in 2022.
Persons: , Emodo, Andrew Rutledge —, DoubleClick, Matt Prohaska, Prohaska Organizations: Service, Ericsson, Business, CTV, Samsung, Verizon, Yahoo, AOL, Microsoft, Singtel, Prohaska Consulting Locations: Xandr
He added, "Wells Fargo could fetch a higher multiple in the market as a result." A Wells Fargo spokesperson declined to comment on the total number of CIB-related hires across all levels in the division. Wells Fargo and other banks have benefited in recent years as the Federal Reserve began hiking interest rates in March 2022. More recent data indicates that Wells Fargo's investment banking revenue share globally has jumped to No. A woman walks past Wells Fargo bank in New York City, U.S., March 17, 2020.
Persons: Wells, Wells Fargo, JPMorgan Chase, Jeff Marks, Charlie Scharf, Scharf, Doug Braunstein, Braunstein, Fernando Rivas, Rivas, Jonathan Weiss, Weiss, Piper Sandler, Wells Fargo's Scharf, NII, Kroger, Scharf's, Scott Siefers, Siefers, Jim Cramer's, Jim Cramer, Jim Organizations: Wall, CNBC, JPMorgan, CIB, Wells, North American Investment Banking, Barclays, Deutsche Bank, Suisse —, Management, Federal Reserve, Fed, Albertson's, Federal Trade Commission, Currency Locations: Wells Fargo, Americas, U.S, IPOs, Wells, New York City
That was the promise of Cerner, the medical-records company Oracle bought in 2021 for $28.3 billion — Oracle's biggest acquisition. At the time, Cerner managed the electronic health records for a quarter of all American hospitals, including those run by the Pentagon and the Department of Veterans Affairs. Larry EllisonCerner's electronic records, in short, were a deadly disaster for the VA. Never mind the futuristic, AI-driven healthcare system Ellison envisioned. In 2015, it beat out Epic, its main competitor, for a $4.3 billion contract to handle electronic health records for the Defense Department. It had agreed to process tens of millions of crucial medical records, but it couldn't handle the subsequent deluge of data.
Persons: Larry Ellison's, Ellison, Cerner, I'm, Larry Ellison, Neal Patterson, Cerner's, Patterson, Ellison's, they're, David Shulkin, Margaret Albaugh, Cerner couldn't, Charlie Bourg, , Larry, Marc Benioff, Ellison protégé, Mike Wilson, David Agus, oncologist, Agus, he'd, Steve Jobs, Sensei, We've, Georges De Keerle, Cerner —, hadn't, Mike Sicilia, Sicilia, Oracle, Anthony Jones Jr, Jones, Donald Remy, didn't, Seema Verma, Neil Evans, Sara Vaezy, Ed Meagher, haven't, Charlie Monroe —, it's, Charlie Bourg —, Bourg, Charlie Monroe, Monroe, Cathy McMorris Rodgers, grandkids, We're, there's Organizations: Oracle's, Oracle, Pentagon, Department of Veterans Affairs, Cerner, RAND Corporation, RAND, Big Tech, GE, Siemens, Cerner Corporation, Defense Department, Department of Defense, Business, Spokane, Ellison Institute of Technology, Microsoft, Agency, Health, Amazon, Veterans ' Affairs, Oracle Health, Navy, Columbus VA, BI, Life Sciences, Intermountain Health, UPMC, DOD, Seabees Locations: Las Vegas, antiaging, Silicon Valley, Spokane , Washington, Cerner, VistA, Bourg, Washington, Sicilia, Ohio, Columbus, Providence, Spokane, Monroe, CloudWorld
Meanwhile, 45% of organizations encountered unintended data exposure when implementing AI solutions, according to AvePoint's 2024 AI and Information Management Report. "It's often what we call dark data," Simberkoff said. So how do leaders improve data permissions and protections in light of or, ideally, before AI implementation? "It's making your end users aware of the information you're responsible for. "When you're using AI, it's really important to make sure that you're checking it and that you're using it for its purpose."
Persons: Dana Simberkoff, Simberkoff, Arvind Jain, Jain, Jason Hardy, Hardy, it's, they're Organizations: Microsoft, CNBC, Hitachi Vantara
Following a long period of waiting, "the IPO market's back." That's according to Colin Stewart, Morgan Stanley's global head of technology equity capital markets. In an interview with CNBC's "TechCheck" on Monday, Stewart said 10 to 15 more tech companies could go public before the end of 2024, with an even "better year" in store for 2025. Morgan Stanley was the lead banker on the Reddit and Astera IPOs, positioning itself to collect roughly $37 million in total fees. Wall Street rival Goldman Sachs led the latest venture-backed tech IPO last week.
Persons: Colin Stewart, Morgan, CNBC's, Stewart, It's, we've, Reddit, Morgan Stanley, Astera, Goldman Sachs Organizations: Wall Street, New York Stock Exchange
On Wednesday the Microsoft -backed company priced shares at $32 each, above its expected range of $28 to 31 per share. In selling 23.5 million shares, it raised $752 million. Rubrik shares are trading under the ticker "RBRK." Many technology companies appeared on public markets in the 2010s as central banks kept interest rates low. Rubrik, founded a decade ago, reported a $354 million net loss in the latest fiscal year, compared to a $278 million loss in the year prior.
Persons: Rubrik, It's, Bipul Sinha Organizations: New York Stock Exchange, Microsoft, Astera Labs
To assess the value of investments in generative AI models, companies must first develop their knowledge of the tools' potential for financial impact. We then help pair each use case with the right AI strategy, including the applicability of generative AI. To further support optimal financial operations for your company, your generative AI models must be trained to encompass operational and information technology priorities and perspectives. Learn more about how Hitachi Digital Services uses AI to empower informed decision-making. This post was created by Hitachi Digital Services with Insider Studios.
Persons: Premkumar Balasubramanian, observability, HARC Organizations: Hitachi Digital Services, Hitachi, Insider Studios
Enterprise data management company Informatica is not currently in talks to be acquired, the company said Monday, after earlier reports suggested that Salesforce was interested in a roughly $10 billion deal. Informatica shares slumped more than 7% on the news, while Salesforce shares rose around 1%. The acquisition would have been Salesforce's largest since the 2021 deal to purchase Slack. Salesforce's investors also reacted negatively to the idea of the deal, sending shares down more than 7% when news of the potential purchase first broke. Salesforce CEO Marc Benioff's voracious appetite for mergers and acquisitions was one of the factors that drew a flurry of activists in 2023 seeking to rein in the company's spending.
Persons: Salesforce, Slack, Amit Walia, Marc Benioff's Organizations: Informatica, Street
Tesla , Li Auto — Tesla shares declined nearly 4%, hitting a 52-week low, following announcements of price cuts. Verizon reported $33 billion in revenue, slightly under the $33.32 billion figure penciled in by analysts, per FactSet. Informatica — The enterprise data management company tumbled nearly 9% after acquisition talks with Salesforce broke down. Salesforce shares inched higher by less than 1%. Riot Platforms — The bitcoin miner rallied 14% following the " halving" event , in which bitcoin mining rewards were cut in half.
Persons: Li Auto, Li, CNBC's David Faber, Salesforce, Crypto, Coinbase, MicroStrategy, UnitedHealth's OptumRx, Cardinal Health's, Zions, , Jesse Pound, Samantha Subin, Michelle Fox, Alexander Harring Organizations: Tesla, Reuters, Li Auto, Verizon Communications, Verizon, Paramount Global, Sony, Informatica, JPMorgan, Health Locations: China
Jefferies hosted a conference to bring together late-stage tech founders, investors and bankers. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAs bankers and venture capitalists nibbled on caviar sushi and sipped champagne and sake this week at Nobu Malibu, there was a gleeful mood at the beachside closing dinner of the Jefferies Private Internet Conference. After a Covid pause, Jefferies resumed this conference in 2022 to bring together late-stage tech founders, investors, and bankers. Related story"Beyond typical deal considerations, AI has emerged as the single biggest new influence today in tech M&A," according to Greenberg.
Persons: Jefferies, , Cameron Jefferies, Jason Greenberg, Greenberg, Goldman Sachs, David Solomon, Reddit, Marc Andreessen, Rich Handler, Andreessen Horowitz, Neerav, Goldman, JP Morgan Chase, we've, Lester Organizations: Service, Jefferies Private Internet Conference, Technology, Media, Telecom Investment Banking, Jefferies, Global Technology, Informatica, Epic, Venture, Jefferies Private Locations: Neerav Kingsland
In today's digitally driven world, data has become the lifeblood of the healthcare and life sciences industry. However, the industry's complex data ecosystem, coupled with stringent regulations and privacy concerns, has historically hindered unlocking the full potential of data in healthcare and life sciences. The data dilemmaHealthcare and life sciences are data-rich domains, encompassing patient records, claims, genomic sequencing, wearable device data, medical imaging, and more. Moving to the cloudMoving data infrastructure to the cloud offers a compelling solution to many of the challenges faced by healthcare and life sciences organizations. Centralizing data in the cloud facilitates seamless access and collaboration between healthcare providers, payers, researchers, and life sciences organizations.
Organizations: Life Sciences, Insider Studios Locations: United States, Europe, Snowflake
Goldman Sachs — Goldman Sachs shares jumped 3.3% in premarket trading after the company beat Wall Street's first-quarter earnings expectations . Goldman posted earnings of $11.58 per share on revenue of $14.21 billion for the period, fueled by its trading and investment banking businesses. Analysts surveyed by LSEG had called for earnings of $8.56 per share on revenue of $12.92 billion, meanwhile. Analyst Erik Woodring thinks the market is "mis-pricing" Logitech's outlook and forecasts only 3% annual revenue growth through fiscal year 2027. Masimo — The health tech stock rose more than 2% following an upgrade to buy from hold at Stifel.
Persons: Goldman Sachs — Goldman Sachs, Wall, Goldman, LSEG, Morgan Stanley, Erik Woodring, Masimo, Rick Wise, there's, Lockheed Martin, Tal Liani, Canaccord Genuity, Coty, Charles Schwab —, Schwab, Elon Musk, — CNBC's Brian Evans, Michelle Fox, Sarah Min, Pia Singh Organizations: Logitech —, Stifel, Wall Street Journal, Reuters, Informatica, Medical Properties, Citi, Lockheed, JPMorgan, Cisco Systems —, Bank of America, Splunk, Coty —, Revenue, Resideo Technologies Locations: Utah, South Korea
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Salesforce shares fell more than 5% Monday after The Wall Street Journal reported that the longtime tech holding is in advanced talks to buy cloud data management company Informatica . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Jensen, Salesforce, Jim Cramer's, Jim Organizations: CNBC, Citigroup, Nvidia, Micron, Street Journal, Informatica, The Locations: Taipei, Informatica
Two months ago, I wrote a story entitled, "The IPO market is looking very shaky and facing challenges galore." Two months later, the IPO market is still shaky, but there are definite signs of improvement. Second, three $100 million IPOs have filed to go public in the past week, including Viking (the cruise line operator) and Rubrik, a data management platform. Greg Martin at Rainmaker Securities told me that the recent performance of Reddit and Astera Labs, "Were nice shots in the arm for the IPO market. Even with markets at new highs, the specter of interest rates creeping up is still hanging over the IPO market.
Persons: Matt Kennedy, Reddit, Greg Martin, Ibotta, Ingram, Del, Viking, Howe Ng, I'm, Martin, Rainmaker, Santosh Rao Organizations: IPOs, Viking, Renaissance Capital, Astera Labs, Rainmaker Securities, NYSE, UL Solutions, Underwriters Laboratories, Nursing, Centuri Holdings, Labs, Companies, Ingram Micro, Epic, Manhattan Venture Partners Locations: IPOs, Del Monte
"We are initiating coverage of SoFi Technologies (SOFI) with a BUY rating and a $10 price target." "Weighing Robinhood's Compelling New Product Roadmap Against a Now More Demanding Stock Price / Valuation." "As a result of higher revenue and Adjusted EBITDA estimates, we are raising our price target to $230 from $160 previously, and maintaining our MP rating." Wells Fargo reiterates Alphabet as equal weight Wells lowered its price target on Alphabet to $141 per share from $144. Guggenheim reiterates Disney as buy Guggenheim raised its price target on the stock to $140 per share from $125. "
Persons: Needham, SoFi, Baird, INFA, Piper Sandler, Piper, KBW, DA Davidson, ZETA, Goldman Sachs, Goldman, it's, Carlisle, Raymond James, Jones Lang LaSalle, Eaton Deutsche, Wells, it's bullish, Tyson, Guggenheim, Tesla, Riley, Gordon Haskett Organizations: SoFi Technologies, Ecolab Inc, Citi, Zeta Global, DA, Carlisle Companies, Deutsche Bank, Eaton, Fluence, Meta, PepsiCo, Argus, JPMorgan, UW, Tyson Foods Citi, UPS, Barclays, Amazon, Disney, Guggenheim, Deutsche, Holdings, Booking Holdings, Inc, Costco, Northland, WT Locations: Northland
ParTec , a developer of supercomputing systems, has surged over 95% year-to-date as investors have started to take notice of its potential. Hendrik Leber, fund manager at Acatis Datini Valueflex Fonds, owns ParTec shares and says he sees the company as a "very clear" investment opportunity. While competitors like Hewlett Packard can also bid on supercomputing projects, Lago Mascato said ParTec's middleware gives them a "unique selling point." Due to the thin trading volumes, Leber noted that even a 2 million euro stock placement took about a month to complete. Future opportunities with AI ParTec sees significant opportunities beyond traditional supercomputing by providing systems tailored to train large AI models.
Persons: Hendrik Leber, ParTec, Leber, Miguel Lago, Montega, Lago Mascato, Hewlett Packard, Bernhard Frohwitter, Frohwitter Organizations: supercomputing, Frankfurt Stock Exchange, Karlsruhe Institute of Technology, Valueflex Fonds, CNBC Pro Locations: Germany, Valueflex, Europe, physicals
The U.S. Commerce Department probe is because Chinese assembled smart vehicles could collect sensitive data about U.S. citizens and infrastructure and send the data to China, the White House said. "China's policies could flood our market with its vehicles, posing risks to our national security," President Joe Biden said in a statement. Commerce Secretary Gina Raimondo said the administration was taking action "before Chinese manufactured vehicles become widespread in the United States and potentially threaten our privacy and national security." The White House also said vehicles could "be piloted or disabled remotely" and added the investigation will also look at autonomous vehicles. The Commerce Department will seek comments for 60 days on the potential risks of Chinese connected vehicles and then consider drafting regulations to address concerns.
Persons: Joe Biden, I'm, Biden, Gina Raimondo, Raimondo Organizations: U.S . Commerce Department, Commerce Department, Embassy, The Commerce Department, United, Huawei, U.S Locations: United States, China, Asia, East, Europe, U.S, Mexico, Washington
KKR announced on Monday that it entered into a definitive agreement to acquire the End-User Computing division from Broadcom for about $4 billion. Broadcom acquired VMware in November, and it had been reviewing strategic alternatives for EUC, BI previously reported. In addition, he said employees should help customers complete their renewals as many customers have expired renewals. Prior to the acquisition by Broadcom, VMware employees had already been speculating the EUC business, as well as the Carbon Black cybersecurity business, would be spun out, BI previously reported. Help customers complete their renewals and add on orders.
Persons: EUC, Shankar Iyer, Iyer, Robert Ruelas, Ruelas, Shankar Organizations: Broadcom, VMware, KKR, Business Insider, Reuters, Business, Iyer, EUC, Revenue Locations: Vegas
The IPO market is looking very shaky and confronted with a host of challenges that are holding it back. Regardless, recent IPO performances have been poor across the board. IPO investors cheered the advance by bidding up the Renaissance Capital IPO ETF (IPO), a basket of recent IPOs, in December, assuming the IPO market would open up. CNBC's Jim Cramer, speaking early Thursday on Squawk on the Street , highlighted another obstacle for IPO buyers: investors are getting comfortable returns elsewhere with far lower risk. When David Faber asked why the IPO market was off to such a slow start with the markets so strong, Cramer replied, "I think it's the five percent solution," he said, referring to the ocean of money still sitting in money market funds.
Persons: Jay Powell's, Birkenstock, Smith Douglas, Amer, Greg Martin, Martin, Matt Kennedy, Kennedy, What's, Rainmaker, Del, CNBC's Jim Cramer, David Faber, Cramer Organizations: Amer, Wilson, NYSE, Smith Douglas Homes, BrightSpring, Renaissance Capital, Rainmaker Securities, Renaissance, Microsoft Locations: EBITDA, Squawk
Yet the main IPO ETF, the Renaissance Capital IPO ETF ( IPO ), has been for sale most of the month. "For the IPO market to open up, it would help not to have our IPO ETF down 9%," he said. Forge Global maintains a Private Market Index , a measure of 75 late-stage pre-IPO companies. "This tells you valuations are getting reset in the private market," Ng told me. Can AI save the IPO market?
Persons: Matt Kennedy, Homebuilder Smith Douglas, Don Short, Salomon, Wilson, Howe Ng, Ng, Del, Waystar, Kim Kardashian's, Short, Vincent Harrison Organizations: Renaissance Capital, Nasdaq, Amer Sports, Arc'teryx, Forge, SEC, Companies, Reuters, Auto, Turo, CNBC, Microsoft, Gaming, SpaceX, Forge Global Locations: Kazakhstan, IPOs, Pitchbook
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