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☆ Netflix aims to 'crawl, walk, run' when it comes to video games. It's still crawling
▼ + stars: | 2023-10-23 | by ( Drew Richardson | ) www.cnbc.com time to read: +6 min

Former Electronic Arts mobile gaming executive Mike Verdu joined Netflix as vice president of game development in 2021. Getting existing subscribers to download and play mobile games is a challenge, though, Benes noted. As of September 2023, Netflix's games have been downloaded 70.5 million times, globally, according to data obtained from Apptopia. The beta rollout to limited users Canada and the U.K. included Oxenfree from Night School Studio, a Netflix game studio, and Molehew's Mining Adventure, a gem-mining arcade game. But Netflix is not looking to be a console replacement, Netflix gaming executive Verdu previously told Tech Crunch.

Persons: It's, we've, Greg Peters, Ross Benes, Mike Verdu, Joseph Staten, Benes, Netflix's, Playrix, Candy Crush, King, Peters, Sunny Dhillon, Kyber Knight, Dhillon, Verdu Organizations: Netflix, Intelligence, Electronic Arts, AAA, Night School, Street, Tech, CNBC Locations: Canada

☆ After blockbuster Microsoft deal, gaming giants are still sitting on $45 billion cash hoard
▼ + stars: | 2023-10-20 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

Public gaming companies currently hold cash and cash equivalents of $45.1 billion, according to a report from venture capital firm Konvoy. Publicly listed gaming companies had a fairly rosy year in 2023, on the whole. The VanEck Video Gaming and eSports ETF , which seeks to track MVIS Global Video Gaming & eSports Index, has climbed 20% in the year to date, according to Konvoy. Total venture funding into the video games industry in the third quarter of 2023 fell 9% quarter-over-quarter, to $454 million. That was when pandemic lockdowns were in full swing, and people had more time to spend playing video games indoors.

Persons: China's NetEase, hasn't, China's Tencent, Josh Chapman, Redmond, Chapman, Candy Crush, Konvoy's Chapman Organizations: Chesno Publicly, CNBC, Activision Blizzard, Electronic Arts, Nintendo, Bandai Namco, Public, Gaming, Esports, Big Tech, Microsoft, Google, Apple, Meta, Netflix, Sony, Activision, U.S, U.K, Markets Authority, Duty, Bandai Namco Entertainment Locations: Konvoy, Washington

☆ Nvidia and Nike are among the most overbought stocks in the S&P 500. Here are the others
▼ + stars: | 2023-10-13 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

To be sure, those gains have pushed some stocks into overbought territory, based on their relative strength index. A 14-day RSI reading above 70 indicates a stock is overbought, meaning it could be due for a pullback. Check out the most overbought stocks in the S & P 500: Chipmaker and artificial intelligence beneficiary Nvidia is among the most overbought stocks on the list, with a 14-day RSI reading of 78.1. Sneaker behemoth Nike also made the overbought cut with an RSI reading of 79.9. Also on the oversold list is health care company DaVita , which has a 14-day RSI reading of 12.08.

Persons: Goldman Sachs, behemoth Nike, McCormick, Jim Cramer, Ozempic, Dr Pepper Organizations: Dow Jones, Nvidia, FactSet, Nike, CME, Electronic Arts, Palo Alto Networks, Novo Nordisk, Constellation Brands Locations: McCormick, Novo

☆ Stocks making the biggest moves midday: Block, Truist, PepsiCo, Rivian and more
▼ + stars: | 2023-10-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Solar companies — Shares of solar companies rallied Tuesday, putting the Invesco Solar ETF (TAN) on pace for its best day since March 21. The defense and aerospace companies rose Monday after the Israel-Hamas war began over the weekend. Rivian — Shares of the electric vehicle manufacturer rose more than 5% after UBS upgraded the stock to buy from neutral. Block — Shares added 5.5% after Bank of America reiterated its buy rating on the payments stock. Unity Software — The video game software company added 3.2%.

Persons: Skechers, SolarEdge, Hannon Armstrong, Baird, Rivian, Joseph Spak, Semafor, Jason Kupferberg, efruxifermin, John Riccitiello, James Whitehurst, Davidson, — CNBC's Pia Singh, Tanaya Macheel, Jesse Pound, Michelle Fox, Lisa Kailai Han, Samantha Subin Organizations: UBS, Palantir Technologies, U.S . Army, PepsiCo, LSEG, Sustainability, Bank of America, Electronic Arts, EA's FIFA, Technologies, Northrop Grumman, Hamas, Truist, Therapeutics, Unity Software, Unity, Arm, Deutsche Bank, JPMorgan, Arm Holdings Locations: Israel

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, Microsoft, Rivian, Amazon, Skechers, Block and more
▼ + stars: | 2023-10-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Bank of America reiterates Apple as neutral Bank of America said Apple Services is the "next leg of growth." UBS reiterates Skechers as buy UBS said it's standing by its buy rating on shares of the shoe company. JPMorgan reiterates Disney as overweight JPMorgan lowered its price target on the stock to $120 per share from $125 but said it's standing by its overweight rating. Bank of America reiterates Block as buy Bank of America said investors should buy the dip in shares of the company formerly known as Square. Morgan Stanley reiterates Microsoft as overweight Morgan Stanley said it's standing by its overweight rating on Microsoft shares.

Persons: Wells, Wells Fargo, Jefferies, Tesla, it's, Skechers, Daiwa, JPMorgan downgrades Corning, JPMorgan, TD Cowen, O'Reilly, Cowen, Morgan Stanley Organizations: UBS, Bank of America, Apple, of America, Apple Services, Google, DOJ, Citi, Huawei, JPMorgan, Disney, ESPN, Arts, EA, " Bank of America, Trust, Northern Trust, Holdings, Juniper Networks, Enterprise, Microsoft Locations: North America, China, Hulu, Juniper, Corning

☆ Concerns around a rebrand in this video game maker's line-up are overblown, Bank of America says
▼ + stars: | 2023-10-10 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Investors are way too worried about the impact a rebranding of Electronic Arts ' FIFA video games could have on the stock, according to Bank of America. The bank upgraded the video game maker's stock to buy from neutral and raised its price target to $150 from $145. A decadeslong partnership between FIFA — soccer's governing body — and Electronic Arts came to an end last year, when the company announced its longtime video game franchise would be rebranded to EA Sports FC. Additionally, Dessouky said that the company's new game video game could provide upside to consensus estimates and guidance in the near term and beyond, especially following above-trend growth in the PC and console gaming market. "We expect the PC/Console software market to grow above trend (mid/high single digits) in CY24 and beyond," the analyst wrote.

Persons: Omar Dessouky, Dessouky, Michael Bloom Organizations: Electronic Arts, FIFA, Bank of America, FIFA —, EA Sports FC, EA, SPORTS FC Locations: Monday's, CY24

[1/2] A smartphone with the Electronic Arts logo is seen in front of a displayed stock graph in this illustration taken September 16, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 29 (Reuters) - Electronic Arts (EA.O) on Friday launched its first soccer game without the FIFA tag, betting its "FC 24" title will maintain the momentum in its best-selling franchise and provide a bulwark against an industry slowdown. That has left "FC 24" without the visibility and marketing heft the FIFA brand enjoyed. EA has tried to boost the appeal of "FC 24" with new features such as cross-platform play and HyperMotion V technology that uses data from real footage to program in-game movements. Analysts also believe the FIFA split should unlock a bigger marketing budget for "FC 24", which has retained licenses to most of the soccer leagues, teams and players.

Persons: Dado Ruvic, Joost Van Dreunen, Michael Pachter, Pachter, Zaheer Kachwala, Shinjini Organizations: REUTERS, Electronic, FIFA, EA, FC, NYU's Stern School of Business, Wedbush Securities, Apex, Thomson Locations: United States, Bengaluru

After voting closed on Monday, the SAG-AFTRA union said 98.32% of those who cast ballots had voted in favor of authorizing a strike. The writers union reached a preliminary labor agreement with major studios on Sunday. The SAG-AFTRA agreement covering video game performers expired last November and has been extended on a monthly basis as the union negotiated with major video game companies. In particular with AI, because right now there aren’t any protections,” Ashly Burch, “Horizon Zero Dawn” video game voice actor, told Reuters. The union will be negotiating with large video game companies, including Activision Blizzard (ATVI.O), Electronic Arts (EA.O), Epic Games, Formosa Interactive and others.

Persons: Mike Blake, ” Ashly Burch, Burch, AFTRA, “, Audrey Cooling, Danielle Broadway, Himani Sarkar, Michael Perry Organizations: REUTERS, SAG, Hollywood, Guild of America, Reuters, Activision, Electronic Arts, Epic, Formosa Interactive, Thomson Locations: Los Angeles , California, U.S, Hollywood

☆ Football Is New Life for Electronic Arts
▼ + stars: | 2023-09-22 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ As Instacart goes public, it's no victory lap for founder Apoorva Mehta
▼ + stars: | 2023-09-19 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +10 min

Mehta was replaced as CEO of Instacart in July 2021 following a messy dispute with some of the company's largest investors. Instacart Founder Apoorva Mehta in his 2003 yearbook photo from Westdale Secondary School. The app started gaining momentum and Mehta put out ads on Craigslist for shoppers to do the grocery runs for him. Whole Foods reportedly broke the news to Mehta and a fellow Instacart executive on an early morning call. In a sworn affidavit, Mehta denies that he misappropriated any trade secrets and says he's since cut ties with Singh.

Persons: Apoorva Mehta, Mehta, Safeway Mehta, Hamilton Public Library Mehta, Bing Gordon, Kleiner Perkins, Gordon, he'd, Garry Tan, Tan, Garry, Andreessen Horowitz, catapulting Mehta, Forbes, Instacart, Mike Moritz, Fidji Simo, Simo, That's, Mehta's, he's, Tejasvi, Singh, Sam Bankman, NextMed, it's Organizations: Instacart, Safeway, Westdale Secondary, Hamilton Public Library, The University of Waterloo, Amazon, NPR, Electronic Arts, YC, TechCrunch, Sequoia Capital, Khosla Ventures, Forbes, Foods, Costco, Kroger, Facebook, Sunrise Locations: India, Libya, Hamilton , Ontario, Toronto, Seattle, San Francisco, wallowing, Sequoia, Mehta's, Marin County

☆ Bale becomes playable character in golf video game
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +1 min

Golf - European Tour - BMW PGA Championship - Wentworth, Virginia Water, Britain - September 14, 2023 Former footballer Gareth Bale is seen during the first round Action Images via Reuters/Paul Childs/file photo Acquire Licensing RightsSept 16 (Reuters) - Gareth Bale's love for golf has been well-documented and the former Real Madrid and Wales forward has swapped the pitch for the green after becoming a playable character in the PGA Tour 2K23 video game. Bale, 34, made his PGA Tour debut at the Pebble Beach Pro-Am in February after calling time on his glittering soccer career at the start of the year. The former Wales captain, who featured on the cover of Electronic Arts' FIFA 14 video game alongside Lionel Messi, has now been added to PGA Tour 2K23, which includes a course custom-designed by him. I'm here getting scanned in PGA Tour 2K23," he said in a video shared on social media. Bale's tally of 111 caps and 41 international goals are both records for the Wales men's team.

Persons: Gareth Bale, Paul Childs, Gareth Bale's, Bale, Rory McIlroy, Lionel Messi, I'm Gareth Bale, I'm, Hritika Sharma, Kim Coghill Organizations: BMW, Wentworth, Real, PGA, Wales, Electronic Arts, FIFA, Southampton, Tottenham Hotspur, Wales men's, Thomson Locations: Wentworth , Virginia Water, Britain, Real Madrid, Wales, Madrid, Qatar, Hyderabad

REUTERS/Brendan McDermid Acquire Licensing RightsSept 6 (Reuters) - GameStop (GME.N) on Wednesday beat Wall Street estimates for quarterly revenue and posted a smaller-than-expected loss, buoyed by strong demand for videogames, collectibles and consoles. The company's shares rose nearly 6% in extended trading as the results indicated that efforts to boost its digital presence were paying off. Sales of software and collectibles contributed to about 49% of total revenue in the second quarter, the company said. Revenue rose about 2% to $1.16 billion for the quarter ended July 29, GameStop said, topping estimates of $1.14 billion, according to three analysts polled by LSEG. On an adjusted basis, GameStop lost 3 cents per share, compared with analysts' estimates of a loss of 14 cents.

Persons: Brendan McDermid, Ryan Cohen, John Oh, Akash Sriram, Sriraj Organizations: GameStop, New York Stock Exchange, REUTERS, Wednesday, Wall, Gamers, Activision, Arts, LSEG, Thomson Locations: New York City, U.S, Bengaluru

But now, three powerhouses —the NFL, Interscope Geffen A&M Records and Electronic Arts Sports — have partnered to empower players to pursue their music dreams. It’s the first-time music made by NFL players appears in the video game franchise, now in its 35th year. “These dudes can rap,” said Bas, a Grammy-nominated rapper who shared his musical expertise during the players recording sessions. People see like these big NFL players and they say ‘Do your one job, tackle somebody or run that route.’ But creativity is part of a healthy life. It’s humbling to watch.”Many of the songs featured on “Crowd Control” were conceived in a songwriting session at Interscope this summer where NFL players worked with producers and artists.

Persons: Terron Armstead, Interscope Geffen, “, ’ ”, Armstead, Pro Bowler, it’s, Darren Waller, Ray, Ray McCloud, Melvin Ingram, Chark Jr, can’t, ”, Waller, Thomas “ Fats ” Waller, Bowler, Jay Rock, Lebra Jolie, Derrick Milano, Justin Bieber, Megan Thee, Nicki Minaj, they’re, They’re, David Nieman, aren’t, Ashley Smith, Smith, Trey Smith, you’re, there’s, ” Smith, ” McCloud, McCloud Organizations: Miami Dolphins, NFL, M Records, Electronic Arts, —, Madden NFL, New York Giants, Carolina Panthers, D.J, Interscope Records, Interscope, EA Sports, Kansas City Chiefs Locations: SANTA MONICA, Calif, San Francisco, Santa Monica , California

☆ A pretzel-shop worker committed a $1 million fraud to buy Tesla, GameStop, and Nvidia shares - and ended up making $7,000 for his broker, SEC says
▼ + stars: | 2023-08-29 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

A fast-food worker obtained $200,000 of advance credit by making bogus deposits, the SEC says. The Auntie Anne's employee piled the entire sum into Tesla, Nvidia, GameStop, AMC, and other stocks. His broker caught on and liquidated the holdings a day later, making a roughly $7,000 profit. The pretzel-shop worker piled about $85,000 into Apple, $78,000 into GameStop, $22,000 into Nvidia, $13,000 into AMC Entertainment, and $700 into Tesla. Tesla and Nvidia also have passionate fanbases who expect the pair to win big from the artificial-intelligence revolution.

Persons: Deyonte Jahtori Anthony, Auntie Anne's, Anthony, Anthony wasn't, Anthony couldn't Organizations: SEC, Nvidia, GameStop, AMC, Service, AMC Entertainment, Securities and Exchange Commission, Apple, Tesla, Cano Health, Electronic Arts, Resolute, Products, ETFMG, Security Locations: Wall, Silicon, North Carolina

☆ Forget Guns. This First-Person Shooter Only Has Magic.
▼ + stars: | 2023-08-22 | by ( Brian X. Chen | More About Brian X. Chen | ) www.nytimes.com time to read: +1 min

From Doom to Call of Duty, first-person shooters have been immensely popular for decades. But what if the thrill for video game fans was never really about the guns? Immortals of Aveum, arriving on Tuesday for Windows computers and the latest PlayStation and Xbox consoles, will test this theory. The game, set in a fantasy world with several kingdoms at war over the control of magic, abandons the tried-and-true formula of arming players with an arsenal of guns and bazookas. In the single-player game, a battlemage named Jak joins an elite militarylike force, collecting spells to make his sigils more potent.

Persons: Jak Organizations: PlayStation, Studios, Telltale Games, Electronic Arts

☆ $3.7 billion data startup Cohesity prepares for a public listing, again, as hope rises that IPOs will return this fall
▼ + stars: | 2023-08-18 | by ( Julie Bort | ) www.businessinsider.com time to read: +4 min

The data startup Cohesity is gearing up to go public as soon as its bankers give the nod, CEO Sanjay Poonen told Insider. But when it last announced it had filed confidential IPO paperwork, on December 21, 2021, its timing couldn't have been worse. Before the startup could debut, the tech IPO window was slammed shut by rising inflation and interest rates, as well as fears of a full-blown recession. "I can't predict the market, but, you know, if that happens, I'd say we'd be as ready as we were in 2021," Poonen said. And as the market opens up, we'll pick the right time, whether it's fall, whether it's next year," Poonen added.

Persons: Cohesity, Sanjay Poonen, IPOs, Poonen, He's, it's, Eric Brown, Srinivasan Murari, he's Organizations: Microsoft, Web Services, Electronic Arts, McAfee, Google, VMware, IBM, Cisco, Hewlett Packard Enterprise, IDC, Bloomberg Locations: Informatica

☆ $3.7 billion data startup Cohesity gets ready for an IPO, again, as hope rises that IPOs will return this fall
▼ + stars: | 2023-08-18 | by ( Julie Bort | ) www.businessinsider.com time to read: +4 min

Cohesity just hired a new CFO and is talking about getting ready for its IPO. Data startup Cohesity is gearing up to go public as soon as its bankers give the nod, CEO Sanjay Poonen told Insider. But when it last announced it had filed confidential IPO paperwork on December 21, 2021, its timing couldn't have been worse. Before the startup could debut, the tech IPO window was slammed shut by rising inflation and interest rates, and fears of a full-blown recession. The last splashy IPO was HashiCorp on December 9, 2021, so the window has now been closed for 20 months and counting.

Persons: Cohesity, Sanjay Poonen, IPOs, He's, it's, Poonen, Eric Brown, Srinivasan Murari, he's Organizations: Microsoft, Web Services, ARM, Electronic Arts, McAfee, Google, VMware, IBM, Cisco, Hewlett Packard Enterprise, IDC, Bloomberg Locations: Informatica

☆ Sarah E. Needleman — Reporter at The Wall Street Journal
▼ + stars: | 2023-08-17 | by ( Sarah E. Needleman | ) www.wsj.com time to read: +1 min

Sarah E. NeedlemanSarah E. Needleman is a reporter for The Wall Street Journal who writes about interactive entertainment and social media. Her coverage centers on Activision Blizzard, Electronic Arts and other big videogame publishers, as well as social-media companies such as Twitter, Reddit and Pinterest. In 2022, Sarah received an honorable mention with WSJ colleagues for their coverage of workplace misconduct at Activision from the Society for Advancing Business Editing and Writing, or Sabew. In her earlier years at the Journal, she covered small business and careers. Sarah graduated from Rutgers University in 1997 with a bachelor's degree in journalism.

Persons: Sarah E, Sarah, paginator Organizations: Wall Street, Activision Blizzard, Electronic Arts, Activision, Society for, Home News & Tribune, Princeton Packet, Rutgers University Locations: New Jersey

☆ Roblox misses quarterly bookings estimates on lower spending, shares tumble
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

The videogame industry is struggling with a slowdown in spending as inflation-weary gamers become more selective in picking popular titles. Roblox, which operates a metaverse – an emerging virtual space where people play games and make transactions - is available on mobile devices, desktops and Microsoft's (MSFT.O) Xbox. and "Brookhaven", posted net bookings of $780.7 million in the quarter, missing analysts' average estimate of $784.9 million, according to Refinitiv data. Net loss attributable to shareholders stood at $282.8 million in the quarter, compared with $176.4 million, a year earlier. The company released its eponymous online game "Roblox Beta" on Meta Platforms' (META.O) Quest virtual reality headsets in July.

Persons: Brendan McDermid, Samrhitha, Pooja Desai Organizations: New York Stock Exchange, REUTERS, Electronic Arts, Quest, Thomson Locations: New York, U.S, Brookhaven, Bengaluru

☆ Akamai Technologies forecasts upbeat third-quarter revenue, profit
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

The Cambridge, Massachusetts-based company forecasts revenue to be between $937 million and $952 million for the quarter ending Sept. 30, compared with analysts' average estimate of $931 million, according to Refinitiv data. The company expects adjusted profit per share for the third quarter to be between $1.48 and $1.52, while analysts estimated $1.41. Akamai also raised its full-year revenue forecast to between $3.77 billion and $3.80 billion, compared with its prior projection of $3.74 billion to $3.79 billion. Security and compute revenue, which formed 59% of the company's total revenue in the quarter, grew 14% over the year earlier, the company said. Excluding items, the company's profit per share was $1.49, compared with analysts' expectations of $1.41.

Persons: Akamai, Rishi Jaluria, Jaluria, Zaheer Kachwala, Jaspreet Singh, Shilpi Majumdar Organizations: Akamai Technologies, Wall, RBC Capital Markets, U.S . Department of Labor, Census Bureau, Department of Defense, eBay, Electronic Arts, Thomson Locations: Cambridge , Massachusetts, Bengaluru

☆ Video-gaming revenue to grow 2.6% in 2023 on console sales strength - report
▼ + stars: | 2023-08-08 | by ( Akshita Toshniwal | ) www.reuters.com time to read: +2 min

A worker holds a Playstation 5 at a Best Buy store during Black Friday sales in Chicago, Illinois, U.S., November 25, 2022. REUTERS/Jim VondruskaAug 8 (Reuters) - Global video-games market would return to growth in 2023 on the back of strong sales of consoles such as Sony's Playstation 5, according to gaming market research firm Newzoo. Newzoo said it expects industry revenue to rise 2.6% to $187.7 billion in 2023, driven by a 7.4% rise in console sales in the year. Market research firm Circana said U.S. consumer spending on video-game hardware was up by 23% in the first half of 2023. Reporting by Akshita Toshniwal and Chavi Mehta in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Jim Vondruska, Newzoo, Tom Wijman, Circana, Akshita Toshniwal, Chavi Mehta, Shilpi Majumdar Organizations: Black, REUTERS, Gaming, PlayStation, Sony, Activision, Electronic Arts, EA Sports FC, Newzoo, Apple, Google, Thomson Locations: Chicago , Illinois, U.S, Bengaluru

☆ Electronic Arts misses quarterly bookings expectations, forecast weak
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

EA (Eletronic Arts) Sports logo is seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/IllustrationAug 1 - Videogame publisher Electronic Arts (EA.O) missed booking estimates for its first quarter on Tuesday, hurt by competition from other franchise-based games and muted spending by gamers. Its shares fell 4.5% to $130.25 in extended trading as the company posted net bookings of $1.58 billion in the quarter ended June 30, compared with Refinitiv estimates of $1.59 billion. EA forecast second-quarter net bookings in the range $1.70 billion to $1.80 billion, also below analysts' estimate of $1.81 billion. Reporting by Yuvraj Malik in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Harry Potter, Yuvraj Malik, Pooja Desai Organizations: EA, Eletronic, REUTERS, Electronic Arts, Warner Bros Discovery, Thomson Locations: Bengaluru

☆ Stocks making the biggest moves after hours: SolarEdge Technologies, Advanced Micro Devices, Starbucks and more
▼ + stars: | 2023-08-01 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

SolarEdge missed revenue expectations in its second quarter, posting $991 million compared to the expected $992 million from analysts polled by Refinitiv. Advanced Micro Devices — The chip stock jumped nearly 4% after Advanced Micro Devices reported better-than-expected quarterly results. Analysts polled by Refinitiv expected per-share earnings of 57 cents on revenue of $5.31 billion. The coffee chain reported fiscal third-quarter revenue of $9.17 billion, lower than the $9.29 billion estimated by analysts polled by Refinitiv. Devon Energy posted revenues of $3.45 billion, lower than the estimated $3.74 billion from analysts polled by Refinitiv.

Persons: SolarEdge, Refinitiv, — Pinterest, —, Samantha Subin Organizations: Technologies, Refinitiv, Devices, AMD, Starbucks, Virgin Galactic, Group, Devon Energy, Devon, Frontier Group Holdings, Electronic Arts, Caesars Entertainment

☆ Morning Bid: August cools Wall St stocks
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +4 min

China's factory underperformance stood out once again and underlined its struggling recovery - perhaps the main driver of stalling industrial activity everywhere. With markets increasingly impatient at the patchy and underwhelming economic stimulus plans seen from Beijing so far, China stocks fell back (.CSI300), bucking Tuesday's wider Asia stocks rally. Sterling and UK stocks (.FTMC) fell back. Ride-hailing giant Uber's stock rose more than 2% before the bell and ahead of its earnings report. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, underperformance, Austan Goolsbee, Goolbee, Stanley Black, Decker, Zimmer Biomet, Revvity, Bernadette Baum Organizations: Federal Reserve, U.S ., Chicago Fed, Bank of England, Sterling, AMD, Caterpillar, Big Pharma, Pfizer, Merck, Ride, HSBC, BP, Uber, Prudential Financial, AIG, Starbucks, Molson Coors, Boston Properties, Caesars Entertainment, Illinois Tool, Natural Resources, Energy, Devon Energy, Gartner, Allstate, Paycom Software, Electronic, WEC, Rockwell, Public Service Enterprise, P Global, Dallas Fed, Chicago Federal, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Wall, Beijing, China, Asia, ., Marathon, Eaton, Altria, Marriott, Illinois, Progressive

☆ On tap this week: Jobs report plus 10 key earnings. Here's what we want to see
▼ + stars: | 2023-07-29 | by ( Zev Fima | ) www.cnbc.com time to read: +18 min

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

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