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☆ 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.

☆ Stocks making the biggest moves after hours: C3.ai, Zscaler, ChargePoint, Marvell Technology and more
▼ + stars: | 2023-03-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

The company posted a loss of 6 cents per share, compared to analysts' estimates for a 22 cent loss. Dell's revenue also exceeded expectations, coming in at $25.04 billion versus analysts' estimates of $23.39 billion. Marvell Technology — Shares of the semiconductor company shed 6% after the company posted mixed results for the fourth quarter. Meanwhile, its revenue of $1.42 billion topped the $1.40 billion analysts had expected. Hewlett Packard also posted revenue of $7.81 billion, beating estimates of $7.43 billion.

☆ Stocks are reversing course as inflation looks sticky with more retail earnings on deck
▼ + stars: | 2023-02-24 | by ( Jesse Pound | ) www.cnbc.com time to read: +5 min

The optimism about inflation and the U.S. economy is quickly waning on Wall Street, and the early 2023 rally for stocks is fading. The market was under pressure again on Friday after a hotter-than-expected reading for personal consumption expenditures, sending rates higher and stocks lower. Economic updates Next week brings a new round of economic indicators to see how the sticky inflation is affecting consumers and business. Other looks at the economy will come through key earnings reports. Speech by Fed Governor Christopher Waller Friday: 9:45 a.m. Markit Services PMI 10:00 a.m. ISM Services PMI 3:00 p.m.

☆ Morgan Stanley says buy these hardware stocks poised to benefit long term from the latest A.I. buzz
▼ + stars: | 2023-02-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Microsoft and Alphabet take center stage in the artificial intelligence race, but they aren't the only companies poised to benefit from the latest buzz on Wall Street, Morgan Stanley said. "However, there are a variety of second derivative impacts that the proliferation of Generative AI could have on IT Hardware companies in the coming years." Woodring highlighted Apple as a key AI beneficiary, citing the iPhone maker's A-series and M-series chips along with its in-house silicon developments. "In addition, the need to move AI applications between cloud and on-premise environments to improve latency could boost the value proposition of RedHat OpenShift and containers," he wrote. Along with Apple and IBM, Woodring highlighted Dell Technologies as a potential beneficiary long term if demand for AI-powered central processing units grows.

☆ 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.

☆ Dell to Cut 5% of Workforce
▼ + stars: | 2023-02-06 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

Dell said it is taking steps to reorganize its sales, customer-support, product-development and engineering teams. Dell Technologies Inc. said it is cutting about 5% of its workforce, the latest technology company adding to a wave of layoffs as interest rates rise and financial conditions tighten. The cuts would amount to some 6,600 jobs, based on the 133,000 total workers that the company reported having in early 2022, its most recent disclosed figure.

☆ Dell to Lay Off More Than 6,500 Workers or 5% of Workforce
▼ + stars: | 2023-02-06 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

Dell Technologies Inc. said it is cutting about 5% of its workforce, the latest technology company adding to a wave of layoffs as interest rates rise and financial conditions tighten. The cuts would amount to some 6,600 jobs, based on the 133,000 total workers that the company reported having in early 2022, its most recent disclosed figure.

☆ Jim Cramer's top 10 things to watch in the market Monday: Stocks slump, off-price retail boost
▼ + stars: | 2023-02-06 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

2. Credit Suisse raises Estee Lauder (EL) price target to $305 per share from $215. Bernstein upgrades Diageo (DEO) to outperform from market perform (buy from hold) and raises price target to $225 per share from $215. Canaccord PT to $853 from $750; keeps buy. T-Mobile (TMUS) downgraded by MoffettNathanson to market perform from outperform (hold from buy); keeps $174-per-share price target. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Dell to slash about 6,650 jobs as it battles slowing demand
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

Feb 6 (Reuters) - Dell Technologies Inc (DELL.N) will eliminate about 6,650 jobs, or 5% of its global workforce, the company said on Monday, as the PC maker grapples with falling demand and braces for economic uncertainty. "What we know is market conditions continue to erode with an uncertain future," co-Chief Operating Officer Jeff Clarke wrote in a memo to employees. 3D printed clouds and figurines are seen in front of the Dell logo in this illustration taken February 8, 2022. Dell had about 133,000 employees as of Jan. 28, 2022, of which, about one-third were based in the United States. Reporting by Shivani Tanna and Eva Mathews in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks making the biggest moves premarket: Tyson Foods, PayPal, Children's Place and more
▼ + stars: | 2023-02-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Tyson Foods – Shares of the food processing giant suffered a 6% drop in premarket trading after the company reported weaker-than-expected results for the first quarter. Analysts expected $1.34 per share in earnings and revenue of $13.52 billion, according to Refinitiv. PayPal — Shares of the payments company fell 2.6% in premarket after Raymond James downgraded the stock to market perform from outperform. Lyft — Shares of the ride-hailing company fell about 2% in premarket trading after Lyft was downgraded to hold from buy at research firm Gordon Haskett. Energizer Holdings — The battery maker's stock fell 6% after revenue and earnings for the recent quarter fell short of expectations, according to analysts surveyed by FactSet.

☆ Dell to slash about 6,650 jobs -Bloomberg News
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

Feb 6 (Reuters) - Dell Technologies Inc (DELL.N) will eliminate about 6,650 jobs, or about 5% of its global workforce, hurt by falling demand for its personal computers, Bloomberg News reported on Monday. The company is experiencing market conditions that "continue to erode with an uncertain future," co-Chief Operating Officer Jeff Clarke wrote in a memo to employees, the report said. The previous cost-cutting measures, including a pause on hiring and limits on travel, are no longer enough, Clarke said in the memo. The department reorganizations and job cuts are an opportunity to drive efficiency, a company spokesperson told Bloomberg News. Layoffs in the United States hit a more than two-year high in January as technology firms cut jobs at the second-highest pace on record to brace for a possible recession, a report showed on Thursday.

☆ Dell to lay off 5% of workforce amid PC slump
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: 1 min

Feb 6 (Reuters) - Dell Technologies Inc (DELL.N) said on Monday it would lay off about 5% of its workforce as it struggles with a slump in the personal computer market and braces for a potential recession. PC demand has collapsed after a two-year boom during the pandemic when people working from home splurged on everything from new monitors and laptops to keyboards. The layoffs also add to the thousands of cuts in the tech industry whose outlook has been shaken by a drop in spending by consumers and businesses due to rising interest rates. Reporting by Aditya Soni; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Gen Z doesn't think anyone can keep them safe online, and one of their biggest concerns is photos getting leaked
▼ + stars: | 2023-01-31 | by ( Amanda Goh | ) www.businessinsider.com time to read: +2 min

Gen Z has little faith that anyone can keep them safe online, according to a Dell Technologies study. 18% of respondents said they trust the government to protect their data, while 17% trust private sector companies. Gen Z's main cyber threat concern relates to having their personal data or photos shared. The findings indicate that Gen Z doesn't trust any entity, public or private, to keep their data safe online. Having their personal data or photos shared without permission.

☆ Gen Z still can't make up its mind about working in the office
▼ + stars: | 2023-01-30 | by ( Amanda Goh | ) www.businessinsider.com time to read: +3 min

Gen Z is divided on the question of remote work, according to a new Dell Technologies study. In a survey, 29% of respondents said remote work is important, but another 29% said they favor office-based roles. As Insider's Aki Ito wrote in June, the preference for remote work is largely split by generation, with the oldest workers expressing the strongest preference for permanent remote work and the youngest workers — Gen Z — expressing the least preference. Many companies have been changing their remote work policies as the world continues to adjust after the pandemic. Meanwhile, JPMorgan's CEO Jamie Dimon is famously against remote work, and the company has been tracking staff office attendance using employee ID swipes.

☆ These are the most important executives who joined Google Cloud in 2022 — and the ones who left
▼ + stars: | 2023-01-19 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +10 min

Below is a list of the key executives who left Google Cloud in 2022 — and the most important new hires. At Google Cloud, Gearhart was responsible for the Google Cloud Platform and Google Workspace channel business around the world, according to her LinkedIn profile. Exit: Frank BienBien, a Looker vice president, left Google Cloud in February, two years after Google acquired the data-analytics company for $2.4 billion. A nearly 20-year Microsoft veteran, Jester joined Google Cloud in 2019 as part of an executive hiring spree initiated by Kurian, who had recently taken the helm of Google Cloud. Hire: Kevin MandiaMandia, Mandiant's CEO and cofounder, joined Google Cloud in September after Google completed its $5.4 billion acquisition of his cybersecurity firm.

☆ RSA Security explores $2 bln-plus sale of Archer -sources
▼ + stars: | 2023-01-18 | by ( Milana Vinn | ) www.reuters.com time to read: +2 min

Clearlake Capital, another private equity firm, invested in RSA the following year. Last year, RSA sold a majority stake in its events business, RSA Conference, to private equity firm Crosspoint Capital Partners for an undisclosed amount. Archer, headquartered in Bedford, Massachusetts, is a governance, risk and compliance software platform with over 15,000 users globally. RSA's other business divisions include identity and access management platform SecureID and threat detection and response software platform NetWitness. Archer is not the only risk management software vendor up for sale in the United States.

[1/3] The sun sets on the U.S. Supreme Court building after a stormy day in Washington, U.S., November 11, 2022. Solicitor General's input on a lower court decision that prevented Apple and Broadcom from arguing the patents were invalid at trial. Apple and Broadcom also told the Federal Circuit that they should have been allowed to challenge the patents' validity at trial. The companies appealed that decision to the Supreme Court last September. The case is Apple Inc v. California Institute of Technology, U.S. Supreme Court, No.

☆ Amid the largest layoffs in Big Tech history, startups are having unprecedented success hiring top talent. But founders are still skeptical about hiring Big Tech employees.
▼ + stars: | 2023-01-06 | by ( Rosalie Chan | Katie Malone | ) www.businessinsider.com time to read: +7 min

Startups have had unprecedented success hiring top tech talent upending a decades long power imbalance. Suddenly, several thousand quality tech workers were job hunting, and it didn't seem like Big Tech would be hiring them back anytime soon. But lately, things have been changing, and his startup has become more attractive to former Big Tech workers, he said. "Just because they come from Big Tech companies does not mean they're quite suitable for my needs." Still, recruiters told Insider, startups rarely judge tech workers solely on whether they've worked at a Big Tech company or a startup.

☆ Dell looks to phase out Chinese chips by 2024 - Nikkei
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: 1 min

Jan 4 (Reuters) - Dell Technologies Inc (DELL.N) plans to stop using China-made chips by 2024 and has told suppliers to reduce the amount of other made-in-China components in its products amid concerns over U.S.-Beijing tensions, Nikkei reported on Thursday. The computer maker told suppliers late last year that it aims to meaningfully lower the amount of China-made chips it uses, including those produced at facilities owned by non-Chinese chipmakers, the report added, citing three people with direct knowledge of the matter. Reporting by Kanjyik Ghosh in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ 8 top business leaders—from Yelp, Zillow, Dell, and more—on the habits they want to cultivate in 2023
▼ + stars: | 2022-12-30 | by ( Natasha Piñon | ) www.cnbc.com time to read: +8 min

Dell TechnologiesJen Felch, Chief Digital Officer and CIO"Going into 2023, I'm focused on cultivating a habit of asking better questions. In 2023, I'm resolving to tackle my own executive burnout, and to be more authentic about it. In 2023, I'm committing to meditating 10 minutes per day, five days a week. Ultimately, entrepreneurial employees have the passion to make the 'new' happen, powering through hurdles, and inspiring real innovation around them." NextdoorSarah Friar, CEO"In 2023 there are several important habits that I will cultivate to help me and the Nextdoor team succeed.

☆ CIOs Nominate Their Favorite Reads of 2022
▼ + stars: | 2022-12-28 | by ( Tom Loftus | ) www.wsj.com time to read: +9 min

Chief information officers, ever alert to any development in a field that only hurtles forward, largely reflected that alacrity in their choice of reading during 2022. PREVIEWChris Bedi, chief digital information officer, ServiceNow Inc. Photo: IBM Corp.Ron Guerrier, chief information officer, HP Inc. Photo: Cisco Systems Inc.Fletcher Previn, chief information officer, Cisco Systems Inc. Photo: Home Depot Inc.Fahim Siddiqui, chief information officer, Home Depot Inc.

☆ Going Into 2023, CIOs Weigh Tech Priorities Against Economic Realities
▼ + stars: | 2022-12-23 | by ( Angus Loten | ) www.wsj.com time to read: +6 min

Bonnie Titone, chief information officer at Duke Energy Corp., a Charlotte, N.C.-based power producer, said CIOs are being told to get by with less, but without decreasing output or positive outcomes. Newsletter Sign-up WSJ | CIO Journal The Morning Download delivers daily insights and news on business technology from the CIO Journal team. One resource to keep top of mind is talent, said Brad Peterson, Nasdaq Inc.’s chief technology and chief information officer, adding that economic slowdowns can provide opportunities to reassess talent development and succession planning. Diogo Rau, chief information and digital officer at Eli Lilly Photo: Eli Lilly & Co. “My perceptions of the economy haven’t changed the way I plan to approach my role,” said Diogo Rau, chief information and digital officer at Eli Lilly & Co.

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