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☆ Redis Names Former Five9 CEO to Head Database Startup
▼ + stars: | 2022-12-05 | by ( Belle Lin | ) www.wsj.com time to read: +4 min

Database startup Redis Ltd. has named Rowan Trollope its new chief executive officer, effective Feb. 1. Mr. Trollope was CEO of the cloud-based customer-service software firm Five9 Inc. until Nov. 28, and had served in the role since 2018. After Mr. Trollope’s departure, former Five9 CEO Mike Burkland returned to his previous post. At Redis, Mr. Trollope will succeed Ofer Bengal, who co-founded the startup with Yiftach Shoolman in 2011 and has served as CEO since its founding. Mr. Trollope led Five9 through its plans to merge with Zoom Video Communications Inc. in September of last year.

☆ Kanye West Is No Longer Buying Parler
▼ + stars: | 2022-12-02 | by ( Talal Ansari | ) www.wsj.com time to read: 1 min

The social network’s parent company said in October that it had entered into an agreement in principle with Kanye West to buy the platform. The sale of Parler to Kanye West has been terminated, according to the social network’s parent company. Parlement Technologies Inc. said Thursday the decision had been made in mid-November and was in the interest of both parties.

☆ Uber, Aurora to expand self-driving truck ops in Texas to meet holiday rush
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

Dec 2 (Reuters) - Uber Technologies Inc (UBER.N) and self-driving technology company Aurora Innovation Inc (AUR.O) will expand their driverless pilot program in Texas to meet increased delivery demand during the holidays. Uber Freight is a platform which connects shippers who need goods moved with available truck drivers. The companies launched their pilot program about a year ago to autonomously transport goods between Dallas and Houston. "We're crafting Aurora Horizon to help carriers of all sizes alleviate some of the supply-chain pressures that typically accompany (holiday season)," Aurora co-founder Sterling Anderson said. Aurora Innovation, which also counts FedEx Corp (FDX.N) and Toyota Motor Corp (7203.T) as partners, looks to launch the Aurora Driver self-driving platform at the end of 2024.

☆ GE Puts $31 Billion Value on Spinoff of GE HealthCare Technologies
▼ + stars: | 2022-12-01 | by ( Thomas Gryta | ) www.wsj.com time to read: 1 min

The planned spinoff of GE HealthCare Technologies is part of General Electric’s overall plan to split into three separate public companies. General Electric Co. set the terms for the spinoff of its healthcare division, putting an initial value of roughly $31 billion on the soon-to-be-public company. GE said current shareholders would get one share in the new GE HealthCare Technologies Inc. for every three shares they hold in GE. The separation is set for Jan. 3 after the markets close, and the new shares will trade on Nasdaq under the symbol GEHC.

Nov 30 (Reuters) - Industrial conglomerate General Electric Co (GE.N) and defense contractor L3Harris Technologies Inc (LHX.N) are among those competing to acquire rocket maker Aerojet Rocketdyne Holdings Inc (AJRD.N), according to people familiar with the matter. Aircraft producer Textron Inc (TXT.N) and private equity firm Veritas Capital are also vying to acquire El Segundo, California-based Aerojet, which has a market value of about $4 billion, the sources said. Aerojet has been running a process to sell itself after its $4.4 billion sale to Lockheed Martin Corp (LMT.N) was thwarted by antitrust regulators in February, Reuters has previously reported. Spokespeople for Aerojet, General Electric, Textron and Veritas Capital did not respond to requests for comment. Its customers include the Pentagon, Boeing (BA.N), Lockheed Martin and Raytheon Technologies Corp (RTX.N).

☆ Cramer's lightning round: I like Morgan Stanley over SoFi Technologies
▼ + stars: | 2022-11-29 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Morgan Stanley : "That's the kind of stock that we like here. ... We are in real companies that make real things, return real capital and Morgan Stanley is one of those." Loading chart...Gartner Inc : "Gartner Inc is a very good, solid growth stock." Loading chart...SoFi Technologies Inc : "I think this thing is going to make money eventually, but let's just say that the first bank stock, Morgan Stanley, is a better thing to own." Cramer's Charitable Trust owns shares of Morgan Stanley.

☆ Products Made With Captured Greenhouse Gas Are Reaching Commercial Scale
▼ + stars: | 2022-11-28 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

Straws, bottles and packaging made with captured greenhouse-gas are starting to reach commercial scale, offering a way for businesses making and using everyday products to reduce emissions contributing to global warming. Origin Materials Inc. and Newlight Technologies Inc. are trying to meet that demand by bringing factories online that use captured emissions to manufacture materials used to make products including clothes, tires and plastic bottles. Sourcing and transporting raw inputs and captured CO2 are crucial to a product’s so-called carbon-negative credentials, meaning more CO2 is stored than created. The private company sources captured emissions from dairy farms, ethanol plants and landfills, and is expanding into coal mines and exploring direct-air capture. Competitor Origin Materials has a different approach to acquiring captured emissions and plans for its first commercial-scale factory to come online next year.

☆ CIOs Can Play Key Role in Guiding Companies Through Slowdown
▼ + stars: | 2022-11-27 | by ( Steven Rosenbush | ) www.wsj.com time to read: +7 min

The market for cloud computing, business software, artificial intelligence and other so-called enterprise technologies has been a relative bright spot. “During times of economic uncertainty, companies look for ways where technology can drive growth and create more economic value faster,” said Juan Perez, chief information officer at Salesforce Inc. When budgets are under scrutiny, companies tend to focus on short-term solutions that can drive efficiency and productivity, Salesforce’s Mr. Perez said. Companies should take this opportunity to reconsider the pace of hiring and employ freelance workers where it makes sense. Additionally, CIOs say they are looking at the opportunity to hire valuable workers who lost their jobs at other companies or renew technology contracts on more favorable terms.

☆ Corporate America is bracing for a rise in activist investing. Meet the 13 lawyers on speed-dial when companies and investors fight for boardroom control.
▼ + stars: | 2022-11-23 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +11 min

Law firms including Olshan Frome Wolosky LLP and Schulte Roth & Zabel are go-tos for activist investors looking to change how companies do business. Kai Liekefett, who co-chairs Sidley's shareholder activism practice, last year successfully defended cloud company Box Inc. in a proxy fight by Starboard. Liekefett has also defended clients against major activist investors including Carl Icahn and Trian Partners. He has advised clients against major activist investors including Trian, Carl Icahn, Starboard Value and the billionaire Paul Singer. Lawrence Elbaum and Patrick Gadson, Vinson & ElkinsPatrick Gadson (L) and Lawrence Elbaum (R), co-heads of Vinson & Elkins' shareholder activism group.

Best Buy Co Inc (BBY.N) jumped 12.4%, leading gains on S&P 500 (.SPX) index, after forecasting a smaller drop in annual sales than previously estimated, confident that a ramp up in deals and discounts will lure more customers. "People are hopeful that consumers can still squeeze out a strong holiday season despite the headwinds they're facing," said Brandon Pizzurro, director of public investments at GuideStone Capital Management. "It would be an upside surprise if consumers really brought their full wallet to the table this year, probably what's driving Best Buy movement today." Gains in Best Buy boosted the S&P 500 retail (.SPXRT) sector index, but a 9.4% fall in Dollar Tree Inc (DLTR.O) capped the upside as the discount retailer lowered its annual profit forecast for the second time. Energy (.SPNY) led gains among the 11 major S&P 500 sector indexes, up 3.0%, as oil prices rose after top exporter Saudi Arabia said OPEC+ stuck with output cuts.

☆ PC Demand Is Expected to Soften Further as Spending Patterns Shift
▼ + stars: | 2022-11-22 | by ( Denny Jacob | ) www.wsj.com time to read: 1 min

Demand for personal computers is expected to remain subdued into next year as manufacturers deal with a shift in consumer spending away from goods that outperformed during the Covid-19 pandemic. The latest indication comes from Dell Technologies Inc., which late Monday reported a 6% drop in overall revenue for the company’s third quarter, including a 17% drop in the unit that includes sales of laptops and desktops to consumers and commercial clients.

☆ HP to cut about 12% jobs by end of fiscal 2025
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +2 min

Nov 22 (Reuters) - HP Inc (HPQ.N) said on Tuesday it expects to cut up to 6,000 jobs by the end of fiscal 2025, or about 12% of its global workforce, at a time when sales of personal computers and laptops are sliding as shoppers tighten budgets. The PC maker also forecast a lower-than-expected profit for the first quarter as it expects softness in both consumer and commercial demand. The company, which employs nearly 50,000 people, said it expects to reduce headcount between 4,000 and 6,000. HP forecast current-quarter profit between 70 cents and 80 cents. Reporting by Tiyashi Datta in Bengaluru; Editing by Sriraj Kalluvila and Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. business equipment borrowings grew 6% in October- ELFA
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

Nov 21 (Reuters) - U.S. companies borrowed 6% more in October to finance equipment investments compared with a year earlier, industry body Equipment Leasing and Finance Association (ELFA) said on Monday. The companies signed up for $11.3 billion in new loans, leases and lines of credit last month, compared with $10.7 billion a year earlier, according to ELFA. ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals totaled 77%, marginally down from 77.3% in September. The Washington-based body'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 November stood at 43.7%, down from 45% in October.

☆ Microsoft's latest data on hacks and why you may need new login, passwords fast
▼ + stars: | 2022-11-21 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +7 min

That's a 74% rise in one year, according to the latest Microsoft Digital Defense Report. But many people still rely on passwords, and don't even use the two-factor authentication now considered critical. "As long as passwords are still part of the equation, they're vulnerable," Joy Chik, Microsoft's vice president of identity, wrote in a September 2021 company blog post. Based on a sample of more than 39 million IoT and OT devices, about 20% used identical usernames and passwords, according to the Microsoft report. Even if a provider doesn't require it to be used, multi-factor authentication is a valuable security tool that's underutilized, according to security professionals.

☆ Dell quarterly profit jumps on higher server demand, lower costs
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

Nov 21 (Reuters) - Dell Technologies Inc (DELL.N) posted a 68% rise in quarterly operating profit on Monday, as strong demand for servers and network equipment cushioned weak PC sales and easing supply-chain pressures helped rein in costs. Consumer revenue tumbled 29% and large enterprises, or commercial, revenue, fell 13%. Operating expenses fell 8% in the third quarter ended Oct. 28, the company said. Net income tumbled 93% to $241 million, due to the $1 billion settlement of a lawsuit over a disputed 2018 stock swap. read moreOperating income rose to $1.76 billion, from $1.05 billion a year earlier.

☆ The big new Exxon Mobil climate change deal that got an assist from Joe Biden
▼ + stars: | 2022-11-19 | by ( Tim Mullaney | ) www.cnbc.com time to read: +7 min

The law may help oil companies like ExxonMobil build profitable businesses to replace some of the revenue and profit they'll lose as EVs proliferate. Maybe, if carbon capture and storage is indeed as big a deal as ExxonMobil's first-of-its-kind deal to extract, transport and store carbon from other companies' factories implies. Could it be that Big Oil's next big thing got a big assist from Joe Biden? An industrial facility on the Houston Ship Channel where Exxon Mobil is proposing a carbon capture and sequestration network. And big oil and gas companies are where the expertise is."

☆ Cramer's lightning round: BioXcel Therapeutics may be home run or nothing
▼ + stars: | 2022-11-17 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...4D Molecular Therapeutics Inc : "Regeneron is the horse to bet on, because it's been a great investment." Loading chart...SoFi Technologies Inc : "I do believe it's bottoming, but I don't know what gets it higher." Loading chart...BioXcel Therapeutics Inc : "It may be home run or nothing, and that's always tough." Loading chart...Veru Inc : "The test for [the company's Covid treatment pill] ... The FDA staff didn't seem to like it."

The valuations of listed financial technology firms have plunged 70% in 2022, analysts at Jefferies Group said in a note last week. The Columbus, Ohio regional bank is scouring for more targets after it bought Torana, a payments fintech, in May. PNC Financial Services Inc (PNC.N) in September bought Linga, a fintech focused on restaurant operations and sales. The slide in fintech valuations coincides with banks earning more from traditional lending businesses as interest rates rise. Fintech deals enable banks to buy new technology or products instead of developing them in-house.

☆ Lyft, Motional to launch robotaxi service in Los Angeles
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Tough regulatory scrutiny and delayed commercial adoption of autonomous vehicle technology have delayed deployment of robotaxi services, worrying investors. Los Angeles will become the second city where the companies will offer the driverless taxi service after Las Vegas. Motional which uses Hyundai Motor Co's (005380.KS) IONIQ5 electric car for the robotaxi service is a joint venture between the South Korean manufacturer and automotive technology company Aptiv (APTV.N). The autonomous vehicle technology company also has a 10-year agreement with Uber Technologies Inc (UBER.N) for supplying driverless vehicles. Competitor Waymo started its autonomous ride-hailing service in Phoenix, Arizona last week.

Nov 16 (Reuters) - Dell Technologies Inc (DELL.N) on Wednesday said it reached a $1 billion settlement of a lawsuit accusing it of short-changing some shareholders in a controversial $23.9 billion transaction in 2018 that marked its return as a publicly traded company. The disputed December 2018 transaction involved a stock swap related to Dell's interest in software maker VMware. Dell paid $14 billion in cash and issued 149.4 million Class C shares in exchange for outstanding Class V shares, which tracked VMware's publicly traded stock. Holders of the Class V shares sought $10.7 billion in damages, saying their stock was worth far more than Dell paid for it, while the Class C stock was worth far less than Michael Dell and Silver Lake claimed. Michael Dell was worth $52 billion on Tuesday, according to Forbes magazine.

☆ Factbox: Corporate America cuts thousands of jobs as recession looms
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +5 min

Job cuts announced by U.S.-based employers jumped 13% to 33,843 in October, the highest since February 2021, according to a report. However, Bloomberg on Sunday reported Twitter was reaching out to dozens of employees who lost their jobs, asking them to return. Coinbase Global (COIN.O):The cryptocurrency exchange said it planned to cut over 60 jobs, in its recruiting and institutional onboarding teams. read moreThe move marks a second round of jobs cuts at the company this year, and comes at a time when cryptocurrencies have been roiled by extreme volatility as investors dump risky assets. Walt Disney Co (DIS.N):The media giant is planning to freeze hiring and cut some jobs, according to a company memo seen by Reuters.

☆ Dell reaches $1 billion lawsuit settlement
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +1 min

Nov 16 (Reuters) - Dell Technologies Inc (DELL.N) has reached a $1 billion settlement of a lawsuit accusing it of short-changing some investors in an approximately $24 billion transaction where it returned to being a publicly traded company. In a regulatory filing on Wednesday, Dell said the settlement is subject to approval by a Delaware Chancery Court judge, and will be reflected in its third-quarter results. Dell paid $14 billion in cash and issued 149.4 million Class C shares in exchange for all outstanding Class V shares. It said holders of the Class V shares claimed that the transaction was conducted at billions of dollars below fair value. The settlement also covers claims against Goldman Sachs Group Inc (GS.N), a defendant in the lawsuit, Dell said.

☆ Cisco deserves more love from investors as management lifts its full-year guidance
▼ + stars: | 2022-11-16 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Management also increased its earnings outlook for the full year, raising its range to $3.51 to $3.58 from $3.49 to $3.56. For the second quarter of fiscal 2023, management expects revenue to grow 4.5% to 6.5% year over year. Companywide results Total product revenue increased 8% year over year to $10.245 billion, beating estimates of $9.88 billion. End-to-end security (cybersecurity) revenue increased 9% year over year to $971 million, missing estimates of $1.014 billion. Total software revenue grew 5% year over year to $3.9 billion, with software subscription revenue up 11%, and 85% of software revenue subscription based.

☆ Cramer's lightning round: Uber is going to be the last man standing
▼ + stars: | 2022-11-16 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Uber Technologies Inc : "Uber is a stock that you have to own for a while. It's going to be the last man standing, and that's why I like Uber." Loading chart...Wingstop Inc : "I think it's a very good situation. Loading chart...Fortive Corp : "I happen to think that this was a very good spin on both sides. Disclaimer: Cramer's Charitable Trust owns shares of Danaher.

☆ Cramer's lightning round: Booz Allen is a buy
▼ + stars: | 2022-11-11 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Booz Allen Hamilton Holding Corp : "It was down big today, and I would be a buyer." Loading chart...Piedmont Lithium Inc : "I want you in something much more substantive than that." Loading chart...Lumen Technologies Inc : "They're behind the eight ball, frankly. I just am afraid that it's just too risky."

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