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☆ Goldman Sachs to report third-quarter earnings
▼ + stars: | 2024-10-15 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

David Solomon, Chairman & CEO Goldman Sachs, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Goldman Sachs is scheduled to report third-quarter earnings before the opening bell Tuesday. Goldman's asset and wealth management division is also positioned to benefit from rising asset values across markets as rates decline. Last week, rival JPMorgan Chase set expectations high with better-than-anticipated results from trading and investment banking, factors that helped the bank top earnings estimates. Wells Fargo also exceeded estimates on Friday on the back of its investment banking division.

Persons: David Solomon, Goldman Sachs, Goldman, JPMorgan Chase, Wells Fargo Organizations: LSEG Revenue, Trading, Wealth Management, Goldman, JPMorgan, & $ Locations: Davos, Switzerland

☆ ServiceNow to invest $1.5 billion in the UK to localize AI data processing
▼ + stars: | 2024-10-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Beyond local business expansion, ServiceNow also said it would invest the cash into localizing the processing of data for its large language models (LLMs), AI models that rely on vast quantities of training data to be able to understand and generate text like a human. The firm said that it would bring Nvidia GPUs (graphics processing units) to its data centers based in London and the Welsh city of Newport to support processing of data on its LLMs within the U.K. This will help support "domain specific LLMs" for U.K. clients and governments, ServiceNow said. ServiceNow isn't the only tech giant betting big on the U.K. as a global destination for AI innovation. The AI center forms part of a $4 billion investment Salesforce committed to making in the U.K. over five years in June last year.

Persons: Bill McDermott, ServiceNow, Keir Starmer, hasn't, Salesforce Organizations: Nvidia, International Investment Summit Locations: Davos, Switzerland, Britain, London, Welsh, Newport, Europe, United Kingdom

Ian Read, chairman and chief executive officer of Pfizer Inc., gestures as he speaks during a panel session at the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 17, 2017. Activist Starboard Value accused Pfizer of threatening litigation against the company's former CEO and CFO in order to get them to break ranks with the investor's nascent turnaround campaign at the pharmaceutical giant. Pfizer shares slipped overnight as news of the two executive's breakaway emerged, and opened down roughly 2.5% in Thursday morning trading. Starboard's Smith said that when the activist approached the two executives, both expressed "concerns" about Pfizer's direction under Bourla and offered to help Starboard in its turnaround campaign. Starboard's Smith and Bourla are slated to meet in person next week, Smith said, confirming earlier reports.

Persons: Ian Read, Pfizer, Jeff Smith, Frank D'Amelio's, Smith, Albert Bourla, Starboard's Smith Organizations: Pfizer Inc, Economic, Pfizer Locations: Davos, Switzerland

☆ A Trump victory raises the risk of a US economic situation worse than recession, 'Dr. Doom' Nouriel Roubini says
▼ + stars: | 2024-10-09 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Nouriel Roubini says stagflation risk will rise if Donald Trump wins the election. AdvertisementThe US economy might confront a fate more challenging than a recession if Donald Trump retakes the White House, famed economist Nouriel Roubini said. According to Roubini, Trump's proposals would fuel these two key ingredients: lower growth and higher inflation. In July, JPMorgan's chief global strategist David Kelly called Trump's tariff and immigration policy mix an "elixir for stagflation." AdvertisementRoubini said tensions in the Middle East make the threat of stagflation under Trump worse.

Persons: Nouriel Roubini, Donald Trump, Doom, —, Donald Trump retakes, Trump, Kamala Harris, stagflation, Roubini, Larry Summers, David Kelly Organizations: Greenwich Economic, Treasury, Service, Bloomberg, Barclays, Republican, Peterson Institute, Trump Locations: Greenwich, Israel, Iran

☆ OpenAI announces content deal with Hearst, including content from Cosmopolitan, Esquire and the San Francisco Chronicle
▼ + stars: | 2024-10-08 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

OpenAI announced a partnership with Hearst, the media conglomerate behind outlets like the Houston Chronicle, the San Francisco Chronicle, Esquire, Cosmopolitan, Elle and others. "Our partnership with OpenAI will help us evolve the future of magazine content," Hearst Magazines President Debi Chirichella said in a statement. The deal is the latest in a recent trend of media outlets entering into content partnerships with AI startups. OpenAI announced a similar partnership in August with Condé Nast, which owns media brands such as Vogue, The New Yorker, GQ, Vanity Fair and Wired. Reddit also announced a deal with OpenAI in May to allow the ChatGPT maker to train its AI models on the social media company's content.

Persons: Sam Altman, OpenAI, Elle, Debi Chirichella, Condé Nast, Der Spiegel, WordPress.com, Reddit Organizations: Economic, Hearst, Houston Chronicle, San Francisco Chronicle, Cosmopolitan, OpenAI, Vogue, Yorker, GQ, Wired, Media, The Texas Tribune, Time, News Corp, Wall Street, Barron's, New York Post, Center, Investigative, Microsoft, New York Times, Chicago Tribune, New York Daily News, The New York Times, Southern, of, Apple Locations: Davos, Switzerland, U.S, of New York

☆ Ray Dalio says investing in China is tricky as Beijing becomes less favorable toward capitalism
▼ + stars: | 2024-10-08 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Ray Dalio thinks it's still tricky to invest in China right now as Beijing may be seeking to structurally move the country away from capitalism. "There's something big going on that they had a debt crisis and they also had a capitalism crisis. The high-profile investor even said he is raising his usual allocation limit and is not hedging his big China bet. Dalio said he doesn't expected big rate cuts as the economy remains in solid shape. I think the economy by and large right now itself is in relatively good balance," he said.

Persons: Ray Dalio, Dalio, David Tepper Organizations: Bridgewater Associates, Greenwich Economic, CSI, Appaloosa Management, CNBC Locations: China, Beijing, Greenwich, Greenwich , Connecticut

☆ Investors slam the brakes on the hottest trade going in the market
▼ + stars: | 2024-10-08 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

But he did not announce any major new plans for ensuring economic health, leaving investors feeling underwhelmed. The iShares MSCI China ETF (MCHI) sank nearly 11%, on track for its worst day ever. The iShares China Large-Cap ETF, for example, soared 33% between Sept. 23 and Oct. 7. Morgan Stanley strategist Laura Wang on Tuesday revised price targets for the major Chinese stock market indexes, suggesting no room for further gains compared with current levels. "Today's press conference at least in the near term reinforces such belief, in our view, and the stock market could see more divergence at individual stock level."

Persons: Zheng Shanjie, Bilibili, Nio, Ray Dalio, FXI, Jeff deGraaf, David Tepper, Morgan Stanley, Laura Wang, Wang, Merrill Lynch, Helen Qiao, Xiangrong Yu, Yu Organizations: National, Reform Commission, CSI China Internet, Billionaire, Bridgewater Associates, Greenwich Economic, Appaloosa Management, U.S . Federal Reserve, Wynn Resorts, Sands, Macau — Locations: China, Greenwich, Greenwich , Connecticut, Beijing, Macau, Tuesday's, U.S

☆ Australian court upholds order for Musk’s X to pay fine over anti-child abuse inquiry
▼ + stars: | 2024-10-04 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

SYDNEY, Australia — A court in Australia upheld an order on Friday for Elon Musk’s X to pay a fine of 610,500 Australian dollars ($418,000) for failing to cooperate with a regulator’s request for information about anti-child-abuse practices. X did not immediately respond to a request for comment on Friday. This is not the first conflict between Musk and the Australian internet safety regulator. The eSafety Commissioner earlier this year ordered X to remove posts showing a bishop in Australia being stabbed during a sermon. X challenged the order in court on the grounds that a regulator in one country should not decide what internet users viewed around the world, and ultimately kept the posts up after the Australian regulator withdrew its case.

Persons: Elon Musk’s, X, Musk, “, ”, Julie Inman Grant, eSafety Organizations: Federal, Twitter, X Corp, World Locations: SYDNEY, Australia

Vice presidential candidates JD Vance and Tim Walz faced off in their first and only debate Tuesday night, squaring off over everything from foreign policy and the economy to the 2020 election and abortion rights. Contemporaneous newspaper reports — first reported by Minnesota Public Radio News and APM Reports — place Walz in Nebraska at the time. Fact-check: Is housing 60% more expensive during the Biden administration? “Iran, which launched this attack, has received over $100 billion in unfrozen assets thanks to the Kamala Harris administration," Vance said. As part of a prisoner exchange the Biden administration negotiated with Iran last year, $6 billion more in Iranian assets were unfrozen.

Persons: Vance, Tim Walz, Walz, “, America —, ”, —, That’s, Kamala Harris, Biden, Harris, hasn’t, " Walz, Harris “, she’s, Donald Trump’s, You’ve, Donald Trump, Obama, Harris wasn’t, unfroze, Trump, Trump “, I’ve, Mike Pence Organizations: America, CNN, Minnesota Public Radio, APM, U.S, Center for American Progress, Economic, Global, Washington Post, Social Security, Immigration, Department of Homeland Security, NBC News, Biden, Democratic, Health Affairs, Customs, Capitol, Centers for Disease Control, Minnesota Health Locations: China, Nebraska, Hong Kong, Beijing, Russia, Saudi Arabia, Ireland, Norway, Spain, Lechleitner, U.S, Iran, Minnesota, ”

☆ Bill Gates shares his 3 biggest concerns about AI
▼ + stars: | 2024-09-30 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +4 min

AdvertisementBill Gates is a self-described optimist about the future of AI, but the tech still raises a few key concerns for him. Experts have warned AI models can be abused for purposes like carrying out scams or cyberattacks or spreading misinformation , among other things. Besides Gates, other business leaders have also expressed concerns about AI and an interest in more regulation and guardrails on the technology. Many share some of Gates' concerns. Looking more at the present, Gates has said he uses AI in his own life to summarize meetings he attends.

Persons: Bill Gates, —, Kara Swisher, Gates, Joe Biden's, Goldman Sachs, HubSpot, — it's, you've, Michael Schwarz, Sam Altman, Microsoft's Organizations: Microsoft, Service, AIs, cybercrime Locations: bioterrorism

☆ China's worsening relationship with US businesses could put AI's chip supply on shaky ground
▼ + stars: | 2024-09-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, China isn't proving to be the economic promised land US companies once hoped for . US-China relations have been on shaky ground for a while, to put it mildly. But despite the growing animosity, US corporations' push to sell things to Chinese consumers has been a middle ground everyone can agree on. AdvertisementTaiwan Semiconductor Manufacturing Company makes vital hardware components for most the world's chip companies, including industry giant Nvidia. Nvidia CEO Jensen Huang recently said his company has a backup plan if things were to kick off in Taiwan .

Persons: —, Jamie Dimon, Tyler Le, Insider's Linette Lopez, It's, that's, Kiran Ridley, Stringer, Getty, Jensen Huang, Huang, Alyssa Powell, Trump, Harris, isn't, Howard Marks, Marks, Rebecca Noble, Vance, Tom Brady, Jeff Bezos, it's, Ryan Routh, Donald Trump, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Amanda Yen, Grace Lett, Milan Sehmbi Organizations: Service, Business, China Xinhua News Agency, Getty, Apple, Nike, Huawei, Taiwan Semiconductor Manufacturing Company, Nvidia, Billionaire, Economic Forum Locations: Washington ,, China, China . US, Washington, Beijing, Taiwan, USA, Florida, New York, London, Chicago

☆ 'Fertile hunting ground': Portfolio manager names 9 stocks to cash in on India's growth
▼ + stars: | 2024-09-19 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +5 min

Franklin Templeton's Yi Ping Liao describes the South Asian country as "a fertile hunting ground to identify stocks." And if this continues, you can potentially see lower equity risk premiums for the market," the assistant portfolio manager told CNBC Pro on Sept. 12. She likes that the Indian market offers the "opportunity to identify good stocks," following an improvement in its breadth. Among the names Liao is betting on is automaker Tata Motors . Elsewhere, in the tourism and hospitality industry, the portfolio manager likes hotel chain Indian Hotels — the company behind premium brands like Taj, Vivanta and Ginger.

Persons: Franklin Templeton's Yi Ping Liao, Liao, Franklin, Morgan Stanley, China's, Vivanta, Ginger, India's financialization Organizations: CNBC Pro, Templeton, Growth, IMI, Bombay Stock Exchange, World Economic, Bain & Company, Tata Motors, Tata, Apollo, Max Healthcare Institute, Insurance, Taj, HDFC Bank, ICICI Bank, Kotak Mahindra Bank Locations: India, Asia, China, U.S

☆ Harris wants to limit child care costs to 7% of family income
▼ + stars: | 2024-09-18 | by ( Tami Luhby | ) edition.cnn.com time to read: +5 min

Harris responded that she’d cap child care costs at 7% of working families’ income, following the Biden administration playbook that she was heavily involved in writing. “My plan is that no family, no working family, should pay more than 7% of their household income in child care,” Harris said Tuesday at a National Association of Black Journalists event, noting that steep child care expenses make it difficult for many parents to work. Child care advocates were buoyed by Harris’ answer on Tuesday. Parents with two kids in a child care center paid on average at least twice as much for that care as they did for the typical rent in 11 states and the District of Columbia in 2023, according to a Child Care Aware of America report released in May. That equates to 10% of median household income for a married couple with children and 32% of median income for a single parent with children, Child Care Aware found.

Persons: Donald Trump, Sen, JD Vance, Kamala Harris, Harris, Biden, playbook, ” Harris, Joe Biden’s, ”, Harris ’, Melissa Boteach, ” Boteach, Trump, Vance, Charlie Kirk, you’re Organizations: CNN, National Association of Black Journalists, Congressional, Office, Department of Health, Human Services, National Women’s Law, District of Columbia, Nationwide, Economic, of New Locations: trillions, of New York, Arizona

☆ Ray Dalio names the top five forces shaping the global economy
▼ + stars: | 2024-09-18 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Dalio made his remarks Wednesday ahead of the U.S. Federal Reserve's interest rate decision. Debt, money and the economic cycleWith uncertainty still circling around what the Fed will do at its meeting this week, Dalio raised concerns about how the country's debt will be managed. 'Acts of nature'Dalio then said "acts of nature" have historically posed a bigger threat to humanity and society than war. "Acts of nature, droughts, floods and pandemics have killed more people and been responsible for more domestic orders and international orders changing," Dalio noted. According to the World Economic Forum, the climate crisis results in a 12% loss in global GDP for each 1°C increase in temperature.

Persons: Ray Dalio, Dalio, Kamala Harris, Donald Trump Organizations: Bridgewater Associates, Milken Institute Asia Summit, Bloomberg, Getty, SINGAPORE, Milken, Summit, U.S, CNBC Fed, Economic, Technology Locations: Singapore, U.S, U.S . Federal, China, The U.S, South China

☆ OpenAI CEO Sam Altman shares his No. 1 strategy for living without regrets: You should 'put a huge premium' on it
▼ + stars: | 2024-09-17 | by ( Jennifer Liu | ) www.cnbc.com time to read: +2 min

Sam Altman, CEO of OpenAI, during a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. He may not have known it at the time, but in 2005 Sam Altman took a risk that changed the trajectory of his career. It "seemed like a really fun thing to try," Altman, 39, told students during an interview at his alma mater, the St. Louis-area John Burroughs School. On the other hand, a one-way door risk is harder to undo. The risky thing is to not go try the things that might really work out.

Persons: Sam Altman, That's, Altman, OpenAI Altman, Jeff Bezos, Lex, Bezos Organizations: Economic, John Burroughs School Locations: Davos, Switzerland, Stanford, Louis

☆ The 5 worst states for gender equality — and the 5 best
▼ + stars: | 2024-09-16 | by ( Mykenna Maniece | ) www.businessinsider.com time to read: +1 min

WalletHub released its ranking of the best and worst states for gender equality in 2024. Utah is the worst state for gender equality. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIn June 2024, the World Economic Forum released its "Global Gender Gap Report 2024," which documented the state of gender equality using economic participation and opportunity, educational attainment, health and survival, and political empowerment as its dimensions.

Persons: WalletHub, — Organizations: Utah, Service, Economic, US, Business

☆ Buttigieg: Trump and Vance ‘demonizing immigrants’ to distract from their record
▼ + stars: | 2024-09-12 | by ( Kaanita Iyer | ) edition.cnn.com time to read: +3 min

CNN —Pete Buttigieg on Thursday slammed former President Donald Trump’s recent false claims that migrants are eating pets, saying it’s a strategy to distract from the Republican presidential nominee’s record. “There’s even more to it than demonizing immigrants – although that’s obviously part of what he’s doing,” said Buttigieg, appearing on CNN’s “The Source” with Kaitlan Collins. Buttigieg praised Vice President Kamala Harris’ debate performance but stressed that groundwork and organizing is more important to win the race. “No one night, no one event, no one appearance, no one debate is going to decide this,” Buttigieg told Collins. So that’s going to continue and I think that’s how she’s going to win.”

Persons: Pete Buttigieg, Donald Trump’s, “, that’s, ”, Kaitlan Collins, Trump, JD Vance, Buttigieg, Biden, Kamala Harris, ” Buttigieg, Collins, “ We’re, Harris, “ She’ll, Donald Trump, he’s, Harris “ Organizations: CNN, Republican, ABC Locations: Ohio, Springfield

☆ What to watch during the Trump, Harris debate on ABC
▼ + stars: | 2024-09-10 | by ( Gregory Krieg | ) edition.cnn.com time to read: +13 min

Here are six things to watch for on Tuesday night:Will Harris deliver the policy message voters say they want to hear? More than her convention speech, the debate will provide a platform for Harris to answer some of those questions. This image shared by ABC News shows the stage in Philadelphia ahead of the debate between Harris and Trump. Rebecca Wright/CNNWhen Harris sticks by Biden’s policies, Trump attacks them and her as a failure. What’s not up for debate is that Biden, though absent in person, figures to be a prominent figure on the debate stage.

Persons: CNN — Kamala Harris, Donald Trump’s –, Trump, Joe Biden, Harris, Biden, –, Will Harris, Al Drago, ”, Zach Wolf, MAGA, CNN’s Dana Bash, ” Harris, Biden’s, Rebecca Wright, parry, What’s, Wade, “, Vladimir Putin –, unreservedly Organizations: CNN, Democratic, New York Times, Siena College, Trump, ABC News, ABC, Howard University, Democratic National Convention, Republican, White Locations: Philadelphia, Atlanta, Georgia, Chicago, Mexico, Florida, Gaza, Ukraine, Israel, Trump , Russian, Palestinian

☆ Stocks making the biggest moves midday: Palantir Technologies, Summit Therapeutics, JetBlue Airways and more
▼ + stars: | 2024-09-09 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: Palantir Technologies , Dell Technologies — Palantir and Dell jumped 14% and nearly 4%, respectively, following the announcement after the bell Friday that both stocks would join the S & P 500 before the open on Sept. 23. Palantir is set to take American Airlines' spot, while Dell is going to replace Etsy. JetBlue Airways — The airline stock popped around 7% after Bank of America analyst Andrew Didora upgraded the firm to neutral from underperform. Cannabis stocks — Cannabis stocks moved higher after former President Donald Trump said in a Truth Social post that he will support legalizing adult marijuana use in Florida. A logo outside the Palantir Technologies pavilion ahead of the World Economic Forum in Davos, Switzerland, on Jan. 15, 2024.

Persons: Dell, Merck's, Andrew Didora, Didora, Arm's, Donald Trump, —, Alex Harring, Hakyung Kim, Yun Li, Jesse Pound, Michelle Fox, Stefan Wermuth Organizations: Palantir Technologies, Dell Technologies, American Airlines, Etsy, Therapeutics, Merck, JetBlue Airways —, Bank of America, JetBlue, Boeing, Citi, Federal Reserve, Arm Holdings, Financial, Apple, Monday, United States Steel, JPMorgan, Nippon Steel, Tilray Brands, Cannabis ETF, Economic, Bloomberg, Getty Locations: Florida, Davos, Switzerland

☆ Microsoft dodges in-depth UK probe into hiring of staff from AI firm Inflection
▼ + stars: | 2024-09-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Mustafa Suleyman, co-founder and chief executive officer of Inflection AI UK Ltd., speaks at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. In March, Microsoft announced the hiring of Suleyman from Inflection, along with a number of other key employees at the firm. Suleyman was appointed Microsoft's executive vice president and CEO of Microsoft AI. The CMA had not previously spelled out exactly how the hiring of Inflection AI employees could undermine competition. The Inflection arrangement isn't the only pact with a Big Tech company and AI startup that regulators in the U.K. are assessing.

Persons: Mustafa Suleyman, DeepMind, Suleyman, Karen Simonyan, Simonyan Organizations: Ltd, Economic, LONDON, U.K, Markets Authority, Microsoft, Windows, DeepMind, Google, CMA, CNBC Wednesday, Reuters, Street Journal, Big Tech, Amazon, Federal Trade Commission Locations: Davos, Switzerland, U.S, Britain, Redmond, Washington

☆ AI will reshape the global labor force. Employers will need to help their workers keep up.
▼ + stars: | 2024-08-28 | by ( Tim Paradis | ) www.businessinsider.com time to read: +10 min

AdvertisementMissy Scalise has begun using AI to cut down on the amount of work she has to do after hours. In 2023, the World Economic Forum reported that employers expected 44% of workers' skills to be "disrupted" within five years. Another challenge with inserting AI into an organization is that it's often difficult to tell which skills workers possess and where they might need training. Charlotte Relyea, a senior partner at McKinsey & Co., believes that leaders need to plan now so they can better forecast the abilities workers will need. Leaders need to think about this as a transformation — what she described as "painting the picture of the future."

Persons: Missy Scalise, Ascension Saint, Suki, Scalise, Chesley Summar, Ravin, Mercer, Jesuthasan, It's, Jon Lester, Lester, it's, Julia Grace Samoylenko, Samoylenko, Gallup, Johnson, Elise Smith, Smith, They're, haven't, you've, Nathalie Scardino, Scardino, Charlotte Relyea, Relyea, she's Organizations: Ascension, International Monetary Fund, Economic, IBM, Johnson, Praxis Labs, Labs, McKinsey & Co, McKinsey Locations: Nashville, upskilling

☆ Meet the 'silver squatters': Adults in their mid-50s who are woefully unprepared for retirement
▼ + stars: | 2024-08-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

Thomas is among what retirement experts are calling "silver squatters" — adults in their mid-50s who are even more woefully unprepared than some boomers, despite being about a decade away from retirement. This group of Gen Xers — the generation of Americans aged 43 to 59 — largely expects to postpone or work past their retirement. AdvertisementA majority also don't expect to receive any inheritance, despite their boomer predecessors holding onto trillions in wealth. The gap in retirement readiness could be due to the "unique" challenges of Gen Xers, according to Dylan Tyson, the head of retirement strategies at Prudential. Around half of Gen Xers are saving without a general plan for retirement, Prudential found.

Persons: Jim Thomas, he's, Thomas, He's, Pete Welch, Gen Xers, they'll, René, We're, Xers, Dylan Tyson, Inspira's Welch, there's, Welch, Tyson, expectancies, undersaved — Organizations: Service, Business, Social Security, Prudential Financial, Inspira, Prudential Locations: Austin , Texas

☆ Workday stock gains as software provider widens 2027 margin target
▼ + stars: | 2024-08-23 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Subscription revenue growth grew 17%. With respect to guidance, Workday is now looking for an adjusted operating margin of 25.25% in the 2025 fiscal year, compared with the 25% forecast it provided in May. In September 2023, Workday said it was targeting a 25% adjusted operating margin for fiscal year 2027 and subscription revenue growth between 17% and 19%. Deutsche Bank analysts led by Brad Zelnick increased their 12-month price target on Workday stock to $275 from $265. "The increased 30% operating margin target was the big upside surprise as it is now committed both sooner and greater than most were expecting," the analysts wrote.

Persons: Carl Eschenbach, Zane Rowe, Rowe, We're, Brad Zelnick, Piper Sandler, Jerome Powell, Carl Eschenbach didn't, Julie Biel Organizations: Deutsche Bank, Citi, Evercore ISI, Computing Fund Locations: Davos, Switzerland

☆ Cisco shares have best day since 2020 on earnings beat, plans to cut 7% of workforce
▼ + stars: | 2024-08-15 | by ( Todd Haselton | ) www.cnbc.com time to read: +3 min

Cisco CEO Chuck Robbins participates in a Bloomberg Television interview at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2023. Cisco shares jumped about 7% on Thursday for their best day since November 2020, after the computer networking company said it's cutting 7% of its workforce and reported quarterly results that beat analyst estimates. Cisco reported $13.64 billion in revenue for the quarter, ahead of Wall Street estimates of $13.54 billion. Revenue fell 10% from the year-ago quarter, marking the third straight quarter of sales declines. WATCH: Cisco CEO Chuck Robbins on Q4 results

Persons: Chuck Robbins, Morgan Stanley, CNBC's, Robbins, — CNBC's Michael Bloom, Ari Levy Organizations: Cisco, Bloomberg, Economic, Revenue, Bank of America Locations: Davos, Switzerland

☆ Uber reports better-than-expected results for second quarter
▼ + stars: | 2024-08-06 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

For the third quarter, Uber expects bookings of $40.25 billion to $41.75 billion. Uber's "monthly active platform consumers" (MAPCs) reached 156 million in the second quarter with 2.77 billion trips via the Uber platform. This compares to 137 million MAPCs and 2.28 billion trips during the same period a year ago. Uber also reported $1.02 billion in net income for the quarter, which included a $333 million pre-tax benefit from "revaluations of Uber's equity investments." The companies also plan "to collaborate on future BYD autonomous-capable vehicles to be deployed on the Uber platform," Uber said on Tuesday.

Persons: Dara Khosrowshahi, Uber, Gross, Instacart, Tesla Organizations: Uber, LSEG Revenue, Bank of America Locations: Davos, Switzerland, Europe, Latin America, U.S

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