DIRS.INFO The most relevant business & tech news

☆ China acquired recently banned Nvidia chips in Super Micro, Dell servers, tenders show
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: +5 min

Specifically, the servers contained some of Nvidia's most advanced chips, according to the previously unreported tenders fulfilled between Nov. 20 and Feb. 28. While the U.S. bars Nvidia and its partners from selling advanced chips to China, including via third parties, the sale and purchase of the chips are not illegal in China. Contacted by Reuters, Nvidia said the tenders specify products that were exported and widely available before the restrictions. Daniel Gerkin, a Washington-based partner at law firm Kirkland & Ellis, said Nvidia chips could have been diverted to China without a manufacturer's knowledge, given a lack of visibility into downstream supply chains. It did not respond to subsequent questions about tenders that identified its products as a source of banned Nvidia chips.

Persons: Wong Yu Liang, Daniel Gerkin, Kirkland, Ellis, Clare Locke, Gigabyte Organizations: Nvidia, Getty, Super Micro Computer Inc, Dell Technologies Inc, Gigabyte Technology, Reuters, Chinese Academy of Sciences, Shandong Artificial Intelligence, Hubei Earthquake Administration, U.S, U.S . Commerce Department, Industry, Security, Super Micro, Dell Locations: China, U.S, Shandong, Hubei, Southwest, Heilongjiang, Washington

☆ Dell's revenue forecast signals AI boost will take longer to materialize
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

The logo for Dell Technologies Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2019. "The unchanged revenue CAGR (forecast) seems conservative given the recent AI tailwinds, which are expected to not only build but persist in the future," Evercore ISI analysts said. Its main revenue generator - the PC market - has been in a slump since the pandemic ended. Dell's shares have risen 65% so far this year, after dropping nearly 30% in 2022. Reporting by Yuvraj Malik in Bengaluru; Editing by Anil D'Silva and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Dell, Yuvraj Malik, Anil D'Silva, Shounak Organizations: Dell Technologies Inc, New York Stock Exchange, REUTERS, Dell Technologies, Dell, Wall, Thomson Locations: New York, U.S, Bengaluru

☆ Dell shares hit record high after report, forecasts impress with AI in mix
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +2 min

The logo for Dell Technologies Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2019. REUTERS/Brendan McDermid Acquire Licensing RightsSept 1 (Reuters) - Shares in Dell Technologies Inc (DELL.N) rose 22.2% and hit a record high on Friday after it raised full-year financial forecasts with boosts from artificial intelligence (AI) and stabilizing demand for computer hardware after a months-long slump. Dell, on track for its biggest ever daily percentage gain, is up more than 70% for the year-to-date. Servers and networking revenue rose 11% from the first quarter to $4.27 billion, driven by higher demand for AI-optimized servers, Dell said. At least 10 analysts raised their target prices for Dell's shares after the report with several including Credit Suisse and Evercore ISI citing its position to benefit from AI.

Persons: Brendan McDermid, Samik Chatterjee, Dell, JPMorgan's Chatterjee, Wells, Sinéad Carew, Lance Tupper Organizations: Dell Technologies Inc, New York Stock Exchange, REUTERS, Dell, CDW, Cisco Systems, Hewlett Packard Enterprises, Credit Suisse, ISI, JPMorgan, Thomson Locations: New York, U.S

☆ Dell raises full-year forecasts on AI strength, demand recovery
▼ + stars: | 2023-08-31 | by ( Zaheer Kachwala | ) www.reuters.com time to read: +2 min

The logo for Dell Technologies Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2019. REUTERS/Brendan McDermid Acquire Licensing RightsAug 31 (Reuters) - Dell Technologies (DELL.N) raised its full-year forecast for revenue and profit on Thursday, as it benefited from the artificial intelligence (AI) boom and stabilizing demand for computer hardware and server products after a months-long slump. "AI is already showing it's a long-term tailwind, with continued demand growth across our portfolio," Chief Operating Officer Jeff Clarke said. The company forecast third-quarter revenue between $22.5 billion and $23.5 billion beating analysts' estimates of $21.67 billion, according to Refinitiv data. Dell reported second quarter revenue and EPS above analyst estimates.

Persons: Brendan McDermid, Jeff Clarke, Dell, Mikako Kitagawa, Zaheer Kachwala, Shailesh Organizations: Dell Technologies Inc, New York Stock Exchange, REUTERS, Dell Technologies, Cisco, Nvidia, Big Tech, Dell, Revenue, Gartner, HP Inc, Thomson Locations: New York, U.S, , Texas, China, Bengaluru

☆ Dell beats quarterly revenue estimates on AI strength, demand recovery
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

The logo for Dell Technologies Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2019. REUTERS/Brendan McDermid Acquire Licensing RightsAug 31 (Reuters) - Dell Technologies (DELL.N) beat quarterly revenue expectations on Thursday, as it benefited from the artificial intelligence (AI) boom and stabilizing demand for computer hardware and server products after a months-long slump. Servers and networking revenue for the second quarter came in at $4.27 billion, up 11% from the first quarter, driven by higher demand for AI-optimized servers, Dell said. The personal computer maker reported revenue of $22.93 billion for the quarter ended Aug. 4, compared with estimates of $20.85 billion, according to Refinitiv data. Its infrastructure solutions group which includes servers, storage devices and networking hardware, reported revenue of $8.46 billion, up 11% sequentially.

Persons: Brendan McDermid, Dell, Jeff Clarke, Clarke, Zaheer Kachwala, Shailesh Organizations: Dell Technologies Inc, New York Stock Exchange, REUTERS, Dell Technologies, Cisco, Nvidia, Big Tech, Revenue, HP Inc, Thomson Locations: New York, U.S, , Texas, China, Bengaluru

☆ US business borrowing for equipment falls 2% in July - survey
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly Acquire Licensing RightsAug 28 (Reuters) - U.S. companies borrowed nearly 2% less in July than last year to finance equipment investments, an Equipment Leasing and Finance Association (ELFA) survey showed on Monday. The companies signed up for new loans, leases, and lines of credit worth $9.9 billion last month, compared with $10.1 billion a year earlier, the industry body's survey said. ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals totaled 75.3%, down from 76.1% in June. Washington-based ELFA's leasing and finance index measures the volume of commercial equipment financed in the United States. The Equipment Leasing & Finance Foundation, ELFA's non-profit affiliate, said its confidence index in August stood at 50.4, an increase from 46.4 in July.

Persons: Andrew Kelly, Ralph Petta, Craig Ault, Honour, Pratyush Thakur, Maju Samuel Organizations: REUTERS, Leasing, Finance Association, Bank of America Corp, Caterpillar Inc, Dell Technologies Inc, Siemens AG, Canon Inc, Volvo, Finance Foundation, Thomson Locations: Manhattan , New York City, U.S, Washington, United States, Bengaluru

☆ Australian court fines Dell unit $6.5 mln for misleading customers on discounts
▼ + stars: | 2023-08-14 | by ( Navya Mittal | ) www.reuters.com time to read: +1 min

The Dell logo is seen on an item for sale in a store in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew KellyAug 14 (Reuters) - Australia's Federal Court on Monday ordered Dell Technologies Inc's (DELL.N) local unit to pay A$10 million ($6.46 million) in penalties for making misleading representations on its website about discounts for add-on computer monitors. In a legal action brought by the country's competition regulator, Dell Australia was found guilty by the Federal Court in June to have misled customers about the prices or discounts on add-on monitors on its website. "This outcome sends a strong message to businesses that making false representations about prices or inflating discounts is a serious breach of consumer law and will attract substantial penalties," said Liza Carver, commissioner of the Australian Competition and Consumer Commission. ($1 = 1.5480 Australian dollars)Reporting by Navya Mittal in Bengaluru; Editing by Rashmi Aich and Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Liza Carver, Navya Mittal, Rashmi Aich, Subhranshu Organizations: REUTERS, Monday, Dell Technologies, Dell, Federal Court, Australian Competition, Consumer Commission, Dell Australia, Reuters, Thomson Locations: Manhattan , New York City, U.S, Dell Australia, Bengaluru

Apple and Broadcom have argued that they should have been allowed to raise the patent challenges during the trial. A jury found that the companies infringed Caltech's patents, ordering Apple to pay $837.8 million and Broadcom to pay $270.2 million. The Federal Circuit took issue with the amount of the award, and sent the case back for a new trial on damages. Apple and Broadcom told the Supreme Court that the Federal Circuit misread the law, which they said only blocks arguments that could have been raised during the review itself. President Joe Biden's administration urged the justices in May to reject the case and argued that the Federal Circuit had interpreted the law correctly.

Persons: Joe Biden's, Blake Brittain, Andrew Chung Organizations: U.S, Supreme, Apple Inc, Broadcom Inc, Caltech, Apple, Broadcom, California Institute of, Appeals, Federal Circuit, U.S . Patent, Federal, Microsoft Corp, Samsung Electronics Co, Dell Technologies Inc, HP Inc, Thomson Locations: Pasadena , California, Cupertino, San Jose, Los Angeles, Washington, New York

Companies Dell Technologies Inc FollowJune 6 (Reuters) - Dell Technologies Inc's (DELL.N) Australian unit has been found guilty by the country's Federal Court to have misled customers about the prices or discounts on its add-on monitors on its website, Australia's competition regulator said on Tuesday. When customers chose to buy a personal computer, Dell Australia gave them an option to bundle a compatible monitor at a discounted, or a 'strikethrough' price, suggesting it would be cheaper to buy the monitor in a bundle rather than separately. Consumers paid more than A$2 million ($1.32 million) for add-on monitors between August 2019 and mid-December 2021, the regulator added. Dell Australia, which sold more than 5,300 add-on monitors with overstated discounts during the period, has refunded or agreed to offer compensation to more than 4,250 affected consumers, and has been ordered to offer full or partial refunds to affected customers. ($1 = 1.5122 Australian dollars)Reporting by Sameer Manekar in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Sameer Manekar, Rashmi Organizations: Dell Technologies, Dell Australia, Australian Competition, Consumer Commission, Thomson Locations: Bengaluru

☆ Dell's first-quarter results fall less than feared on cost cuts
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

The stock was halted after the company announced results during regular trading hours, earlier than its schedule for an after-market release. "We maintained pricing discipline, reduced operating expenses, and our supply chain continued to perform well after normalizing ahead of competitors," said Chuck Whitten, co-chief operating officer of Dell. Total operating expenses reduced 6% to $3.57 billion during the quarter. First-quarter revenue fell 20% to $20.92 billion, compared with analysts' expectations of $20.27 billion, according to Refinitiv data. Dell's client solutions unit - home to its consumer and enterprise PC business - posted a 23% fall in sales, while the infrastructure solutions unit, which includes servers, storage devices and networking hardware, saw an 18% decline.

Persons: Chuck Whitten, Dell, Tiyashi Datta, Mariam Sunny, Pratyush Thakur, Devika Organizations: Dell Technologies Inc, HP Inc, Lenovo Group, HK, Dell, Thomson Locations: Bengaluru

"We maintained pricing discipline, reduced operating expenses, and our supply chain continued to perform well after normalizing ahead of competitors," said Chuck Whitten, co-chief operating officer of Dell. Total operating expenses fell 6% to $3.57 billion during the first quarter. The company's revenue dropped 20% to $20.92 billion, but came in above analysts' expectations of $20.27 billion, according to Refinitiv data. Dell's client solutions unit - home to its consumer and enterprise PC business - posted a 23% fall in sales, while the infrastructure solutions unit, which includes servers, storage devices and networking hardware, saw an 18% decline. The Texas-based company expects second-quarter revenue to be between $20.2 billion and $21.2 billion, below expectations of $21.2 billion at midpoint.

Persons: Chuck Whitten, Dell, Tiyashi Datta, Mariam Sunny, Pratyush Thakur, Devika Organizations: Dell Technologies Inc, HP Inc, Lenovo Group, HK, Dell, Thomson Locations: Texas, Bengaluru

☆ HP misses revenue estimates as inflation saps PC demand
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +1 min

Global PC shipments declined nearly 30% in the January-March period to levels lower than before the pandemic, according to data from research firm IDC. Sales for HP's Personal Systems segment - home to its desktop and notebook PCs - dropped 29% in the reported quarter, while the company's printing segment recorded a 5% fall. HP said it expects second-half revenue to be higher than the first half, even though the year-on-year comparison will still be negative. California-based HP's second-quarter revenue was $12.91 billion. On an adjusted basis, HP earned 80 cents per share, compared with expectations of 76 cents.

Persons: Enrique Lores, Tiyashi Datta, Jeffery Dastin, Devika Organizations: HP Inc, Companies, HP, Lenovo, HK, Dell Technologies Inc, Global, IDC, Reuters, Thomson Locations: California, Bengaluru, Palo Alto

☆ Factbox: Tech firms, Wall Street lead job cuts in Corporate America
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +8 min

read moreSpotify Technology SA (SPOT.N):Music streaming service Spotify is cutting 6% of its workforce, or roughly 600 roles. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. Workday Inc (WDAY.O):The software company will cut roughly 500 jobs, or 3% of its workforce, citing a challenging macroeconomic environment. Morgan Stanley (MS.N):The Wall Street powerhouse is planning to cut about 3,000 jobs in the second quarter, Reuters reported. MANUFACTURING SECTOR3M Co (MMM.N):The industrial conglomerate said it would cut 2,500 manufacturing jobs after reporting a lower profit.

Wall Street closed lower on Friday after mixed economic data appeared to affirm another Fed interest rate hike in May, dampening investor enthusiasm after a series of big U.S. bank earnings launched the first-quarter reporting season. "Regional bank earnings will come in very slightly positive, while bigger banks will probably post surprisingly positive results." Other major U.S. banks including Goldman Sachs Group Inc (GS.N), Bank of America Corp (BAC.N) and Morgan Stanley (MS.N) will report through the week. ET, Dow e-minis were up 35 points, or 0.10%, S&P 500 e-minis were up 1.75 points, or 0.04%, and Nasdaq 100 e-minis were down 3.75 points, or 0.03%. Prometheus Biosciences Inc (RXDX.O) rallied 69.9% after Merck & Co (MRK.N) said it will buy the biotech company for about $10.8 billion.

☆ Futures subdued as investors eye bank earnings, Fed cues
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.07%, S&P 0.10%, Nasdaq 0.01%April 17 (Reuters) - U.S. stock index futures were largely flat on Monday as investors awaited more bank earnings and views from Federal Reserve policymakers that could shape expectations around when the central bank will pause its monetary policy tightening. Wall Street ended lower on Friday as a barrage of mixed economic data appeared to affirm another Fed interest rate hike in May, dampening investor enthusiasm after a series of big U.S. bank earnings launched the first-quarter reporting season. U.S. central bank officials including New York Fed President John Williams and Cleveland Fed President Loretta Mester are scheduled to speak later this week. ET (1230 GMT) is expected to show business conditions in New York state improved in April after slumping in the previous month. ET, Dow e-minis were up 24 points, or 0.07%, S&P 500 e-minis were up 4.25 points, or 0.10%, and Nasdaq 100 e-minis were up 1 point, or 0.01%.

☆ Global PC shipments slide in first quarter, Apple takes biggest hit, IDC says
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

In separate reports published on Monday, market research firms IDC and Canalys blamed weak demand, excess inventory and a bleak economic outlook for the shipment declines of 29% and 33%, respectively. Of the top five PC makers analysed in the reports, Apple saw the largest drop with a fall of more than 40%. Both the research firms also predicted the market could start to recover later this year and gather momentum in 2024 if the economic outlook improves. "We expect significant market upside as consumers look to refresh, schools seek to replace worn-down Chromebooks, and businesses move to Windows 11," IDC said. Reporting by Bharat Govind Gautam and Tiyashi Datta in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

☆ Global PC shipments slide in Q1, Apple takes biggest hit - IDC
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

In the report published Sunday, the International Data Corporation (IDC) said global PC shipments numbered 56.9 million in the first quarter of this year, down from 80.2 million in the same period last year. Of the top five PC companies analysed in the report, Apple's Q1 shipments saw the largest drop of 40.5% from the same period in 2022, with Dell Technologies Inc (DELL.N) coming in second with a drop of 31%. Lenovo Group Ltd (0992.HK), Asustek Computer Inc (2357.TW) and HP Inc (HPQ.N) also faced declines in shipments, the IDC said. In February, Apple reported that sales of its Mac computers, which had boomed during the wave of working from home during the pandemic, declined 29% YoY to $7.7 billion in their most recent quarter. Shipment volume in Q1 2023 was noticeably lower than the 59.2 million units shipped in Q1 2019 and 60.6 million in Q1 2018," IDC said.

April 4 (Reuters) - Private equity firm TPG Inc (TPG.O) said on Tuesday it has agreed to buy a majority stake in Elite, a vendor of business management software for law firms, from information provider Thomson Reuters Corp (TRI.TO) at a valuation of $500 million. Thomson Reuters will keep a minority stake and board representation in Elite and continue to support it with its legal information products, the companies said. Paul Fischer, president of Thomson Reuters' legal professionals division, said that Elite will continue to share many of Thomson Reuters' clients as a standalone company. Elite offers software that helps law firms run their finance and accounting operations, including billing, invoicing and payments. TPG partner Tim Millikin said that the data and automation that Elite offers are in demand among legal professionals.

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 3, 2023. The U.S. 10-year Treasury yield fell on Friday after touching a four-month high in the previous session but stayed above the 4% level. Nine of the 11 major S&P sectors were higher, with communication services (.SPLRCL) and technology (.SPLRCT) indexes leading gains. Apple Inc rose 1.9% after Morgan Stanley said the stock could rally more than 20% this year on potential hardware subscription. Dell Technologies Inc (DELL.N) slipped 0.9% after it forecast current-quarter revenue and profit below Wall Street estimates, hit by an ongoing demand slump in its PC business.

☆ Futures rise as yields retreat from highs
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +3 min

The U.S. 10-year Treasury yield fell on Friday after touching a four-month high in the previous session but stayed above the 4% level. Central bank officials including Bostic and Fed Dallas President Lorie Logan are scheduled to speak later in the day. ET, Dow e-minis were up 82 points, or 0.25%, S&P 500 e-minis were up 13 points, or 0.33%, and Nasdaq 100 e-minis were up 35 points, or 0.29%. Hewlett Packard Enterprise (HPE.N) rose 2.3% after the laptop maker gave an upbeat full-year earnings forecast. Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Dell's tepid outlook casts pall over strong quarter
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Dell laptop is seen for sale in a store in Manhattan, New York City, U.S., November 24, 2021. Meanwhile, revenue from the commercial and consumer units, which indicate PC demand, was down 17% and 40%, respectively. Dell forecast first-quarter revenue to decline between 17% and 21%. Dell's full-year profit and revenue forecast also disappointed Wall Street even as the lifting of lockdowns in China was expected to ease supply chain pressures and reduce component and freight costs. Separately, Dell said Chief Financial Officer Tom Sweet would retire by the end of its fiscal second quarter, and named company veteran Yvonne McGill as his successor.

☆ U.S. business equipment borrowings grow 6% in January - ELFA
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +1 min

Feb 24 (Reuters) - U.S. companies borrowed 6% more in January to finance equipment investments from a year earlier, industry body Equipment Leasing and Finance Association (ELFA) said on Friday. New business volume, however, was down 32% month-on-month after the typical end-of-quarter, end-of-year spike in new business activity. ELFA, which reports economic activity for the $1 trillion equipment finance sector, said credit approvals were 75.1%, down from 76.6% in December. Washington-based ELFA's leasing and finance index measures the volume of commercial equipment financed in the United States. The Equipment Leasing & Finance Foundation, ELFA's non-profit affiliate, said its confidence index in February stood at 51.8, an increase from 48.5 in January.

☆ China's Lenovo Q3 revenue tumbles 24% as PC demand slumps
▼ + stars: | 2023-02-17 | by ( Josh Ye | ) www.reuters.com time to read: +1 min

HONG KONG, Feb 17 (Reuters) - China's Lenovo Group Ltd (0992.HK) reported a 24% revenue decline for the third quarter, its second consecutive decline as global demand for computers and smartphones continued to slump. The world's largest maker of personal computers (PCs) said on Friday that total revenue during the October-December quarter was $15.3 billion, down 24% from the same quarter a year earlier. However, demand has begun to fall and Lenovo's revenue started contracting in the July-September quarter last year. Net income attributable to shareholders for the October-December quarter also plunged 32% to $437 million. PC shipments are likely to slide 6.8% this year after falling 16% in 2022, Gartner said.

☆ KKR-backed BMC Software confidentially files for U.S. IPO - source
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: +1 min

Feb 17 (Reuters) - KKR-backed technology firm BMC Software has confidentially filed for an initial public offering in the United States, a person familiar with the matter told Reuters, offering an early sign of a thawing market after a virtual shutdown for most of last year. As BMC sets out to test the IPO waters, a listing could see the company valued at between $14 billion and $15 billion, depending on the scale of market recovery, the source added. In 2018, private equity giant KKR & Co (KKR.N) had acquired BMC for $8.5 billion, including debt. The U.S. IPO market has recently begun to show some signs of recovery as investor fears around a looming recession and further monetary policy tightening from the Federal Reserve ease. The news of BMC filing for an IPO confidentially was first reported by Bloomberg News.

☆ Factbox: Tech firms, Wall Street titans lead job cuts in corporate America
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +8 min

REUTERS/Lucy Nicholson/File PhotoFeb 8 (Reuters) - Big Tech firms and Wall Street titans are leading a string of layoffs across corporate America as companies look to rein in costs to ride out a global economic downturn. Here are some of the job cuts by major American companies announced in recent weeks. TECHNOLOGY, MEDIA AND TELECOM SECTORIBM Corp (IBM.N):The software and consulting firm said it will lay off 3,900 employees. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. MANUFACTURING SECTOR3M Co (MMM.N):The industrial conglomerate said it would cut 2,500 manufacturing jobs after reporting a lower profit.

Search resuls for: "Dell Technologies Inc"

25 mentions found