DIRS.INFO The most relevant business & tech news

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

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

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

Emerson dropped that threat once the sale process for National Instruments got underway. National Instruments ended trading on Thursday at $50.62 a share. National Instruments expects the sale process to be completed by early April, according to the sources. National Instruments, Fortive and Keysight did not immediately respond to requests for comment. Austin, Texas-based National Instruments specializes in the production of automated testing and measurement tools for the semiconductor, transportation, aerospace and defense industries.

☆ 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.

☆ Uber's Mideast business Careem to cease operations in Qatar
▼ + stars: | 2023-02-27 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: A customer uses Careem application with his smartphone in Mosul, Iraq September 25, 2019. REUTERS/Abdullah RashidDOHA (Reuters) - Uber’s Middle Eastern business Careem will cease operations in Qatar on Tuesday, the company announced in a message sent to customers in the Gulf Arab state on Monday. “Unfortunately, Careem’s ride hailing operations will no longer operate in Qatar as of February 28, 2023,” said the message, which also informed customers holding Careem credit that the company would issue a full refund by March 15. Careem was bought by Uber Technologies Inc in 2019 for $3.1 billion, giving the U.S. firm market dominance across the Middle East and Pakistan. Uber’s smart phone application offers ride-hailing services in Qatar and continued to operate normally late Monday.

☆ Palantir to cut about 2% of employees, roughly 75 jobs
▼ + stars: | 2023-02-27 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Palantir confirmed on Monday that it's cutting about 2% of its workforce as layoffs continue to hammer the tech industry. The layoffs will impact roughly 75 people based on the company's latest SEC report in December, which showed it had 3,838 employees. A spokesperson told CNBC that the company plans to continue hiring in areas of strategic importance. Palantir is the latest tech company to announce layoffs as the industry reckons with a slowdown following over a decade of unbridled growth. In January, Google revealed plans to lay off more than 12,000 workers, Microsoft announced plans to cut 10,000 employees and Salesforce said it planned to cut 7,000 jobs.

☆ Uber says Delhi's plans to allow only electric bike taxis to impact millions
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +2 min

Companies Uber Technologies Inc FollowBENGALURU, Feb 24 (Reuters) - Uber Technologies Inc (UBER.N) said on Friday plans by the local government in India's Delhi city to only allow electric vehicles to function as bike taxis would risk "finishing off the sector" and impact the mobility needs of millions. Uber, in a blogpost, said any such move would put at risk the livelihood of over 100,000 drivers in the city. Uber has set a 2040 target for 100% of its rides to be in zero-emission vehicles, public transport or with micro-mobility, including in India. Earlier this month, Uber announced plans to introduce 25,000 EVs over three years in India. Uber, which offers bike rides in Delhi and many other states in India, did not respond to a Reuters request for a comment on the advertisement.

☆ 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.

☆ Opendoor Posts Heavy Losses After Losing Money on Home Sales
▼ + stars: | 2023-02-23 | by ( Will Parker | ) www.wsj.com time to read: 1 min

Photo: Benjamin Hoster for The Wall Street JournalOpendoor has lost money on sales of many of the homes it bought last year, before rising interest rates chilled the real-estate market. Opendoor Technologies Inc. posted its second consecutive quarter of losses, as the online house-flipper continued to lose money on homes it purchased last year. The company said it had $2.9 billion in revenue from selling 7,512 homes in the fourth quarter, down 25% from the same quarter a year ago.

☆ Opendoor Suffers Heavy Losses After Losing Money on Home Sales
▼ + stars: | 2023-02-23 | by ( Will Parker | ) www.wsj.com time to read: 1 min

Photo: Benjamin Hoster for The Wall Street JournalA home for sale by Opendoor in the Phoenix metro area. Opendoor Technologies Inc. posted its second consecutive quarter of massive losses, as the online house-flipper continued to lose money on homes it purchased last year. The company said it had $2.9 billion in revenue from selling 7,512 homes in the fourth quarter, down 25% from the same quarter a year ago.

☆ Mercedes-Benz cars to have 'supercomputers', unveils Google partnership
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +3 min

But the car companies also want to keep control over their customer relationships as well as valuable data generated by their cars. Mercedes-Benz is moving from a patchwork approach of integrating software from a range of suppliers to controlling the core of its software. Under the Google partnership, Google Maps will be Mercedes-branded and provide drivers with Google traffic information and automatic rerouting, as well as the ability to watch YouTube on the cars' entertainment system when the car is parked, or in Level 3 autonomous driving mode. Google and Mercedes-Benz also agreed to explore further collaboration with Google Cloud data and artificial intelligence capabilities. Others carmakers like General Motors, Renault (RENA.PA), Nissan (7201.T) and Ford (F.N) have embedded an entire package of Google services into their vehicles, offering features like Google Maps, Google Assistant and other applications.

☆ Luminar, Mercedes-Benz expand deal for self-driving tech
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

Feb 22 (Reuters) - Self-driving sensor maker Luminar Technologies Inc (LAZR.O) announced an expanded partnership with Mercedes-Benz Group (MBGn.DE) on Wednesday to enable fully automated driving for its next-generation vehicles. Automakers from Tesla Inc (TSLA.O) to General Motors (GM.N) are focusing on autonomous vehicles, but technological and regulatory hurdles remain. Tech firms such as Alphabet Inc's (GOOGL.O) Waymo and Aptiv-Hyundai Motor joint venture, Motional, are also looking to develop autonomous vehicles for commercial use. Luminar and Mercedes-Benz had announced a partnership in January last year. Palo Alto, California-based Luminar also said it plans to build a factory in Asia to support the multi-billion dollar deal.

☆ Cramer's lightning round: Pfizer is a buy in a market slowdown
▼ + stars: | 2023-02-21 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: 1 min

In this article ZIWOOFASTSPIPFE Follow your favorite stocks CREATE FREE ACCOUNTStock Chart Icon Stock chart icon Impinj Inc. stock chartImpinj Inc. : "It is a great company. Stock Chart Icon Stock chart icon AST Spacemobile Inc. stock chartAST Spacemobile Inc. : "They're not making any money." Stock Chart Icon Stock chart icon Petco stock chartPetco : "It is at $10, which tells me, believe it or not, something's wrong. Stock Chart Icon Stock chart icon ZoomInfo Technologies Inc. stock chartZoomInfo Technologies Inc .: "Let's zoom out...I don't need another marketer." Stock Chart Icon Stock chart icon Pfizer Inc. stock chartPfizer Inc .: "If there is going to be a slow down, I want to buy Pfizer."

☆ The Cameras Worked Fine. Their Maker Said They Had Reached Their End of Life.
▼ + stars: | 2023-02-19 | by ( Nicole Nguyen | ) www.wsj.com time to read: 1 min

You can own a gadget, but its fate might well be controlled by the company that makes it. In January, Arlo Technologies Inc. sent an email to customers of its internet-connected security cameras about a new “end-of-life policy.” Starting April 1, the company would no longer support models that included no-fee seven-day rolling storage of video clips—a well-advertised selling point.

☆ 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.

☆ GE HealthCare Makes Push Into Artificial Intelligence
▼ + stars: | 2023-02-16 | by ( Melanie Evans | ) www.wsj.com time to read: 1 min

GE HealthCare hopes to tap into machine learning to help hospitals diagnose patients and assign beds, among other tasks. GE HealthCare Technologies Inc. is making a big bet on an important challenge in healthcare: collecting the disparate data on patients generated by machines and medical records and making it useful to hospitals. In pursuing a software platform that can help hospitals do things like find open beds and identify patients at risk for sepsis, GE HealthCare is taking on tech powerhouses such as Alphabet Inc.’s Google, Amazon.com Inc. and Microsoft Corp., which are already selling such services and bring the big-data and artificial-intelligence expertise the technology requires.

☆ DoorDash beats revenue estimates as consumer demand remains strong
▼ + stars: | 2023-02-16 | by ( Granth Vanaik | ) www.reuters.com time to read: +2 min

DoorDash continues to see consumers order more frequently, a company spokesperson told Reuters, adding that in 2022 it saw more consumers use the platform than ever. Total orders rose 27% to 467 million in the fourth quarter from the prior year. The San Francisco-based firm's revenue jumped 40% to $1.82 billion in the quarter ended Dec. 31. DoorDash expects full-year adjusted EBITDA, a measure of profitability, between $500 million and $800 million, compared with analysts' expectation of $591.8 million. Current finance chief Prabir Adarkar will take over as chief operating officer from Christopher Payne, who is retiring.

☆ Uber and Lyft Claim Big Gains for Their Ad Businesses
▼ + stars: | 2023-02-15 | by ( Patrick Coffee | ) www.wsj.com time to read: +4 min

Ride-hailing companies Uber Technologies Inc. and Lyft Inc. each say their nascent advertising businesses have grown significantly in recent months. PREVIEWThe ride-hailing rivals’ ad businesses are also important for the companies’ growth. Uber said increased ad revenue in the latest quarter was a key growth driver for its overall business. Lyft ad revenue increased “nearly seven times” in the fourth quarter compared with the previous quarter, according to Mr. Greenberger. But the companies’ ad prices offer a glimpse at their respective positions in the market.

☆ Soros Fund adds First Horizon, Horizon Therapeutics and bond ETF
▼ + stars: | 2023-02-14 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

Soros disclosed a $325.3 million stake, or 2.9 million shares, in biotech firm Horizon Therapeutics (HZNP.O), which was bought by Amgen (AMGN.O) in December for nearly $28 billion. The firm also bought 2.8 million shares, valued at $90 million, in home health assessment firm Signify Health (SGFY.N). It added $209.1 million, or 8.5 million shares, in Memphis-based financial services company First Horizon, which was acquired by Toronto-Dominion Bank (TD.TO) roughly a year ago for $13.4 billion. Shares in Zoom Technologies Inc (ZTNO.PK) and Airbnb Inc (ABNB.O) were sold, while it reduced its holdings in Amazon.com (AMZN.O), by 54.5%, to 901 million shares. The regulatory filing also showed Soros bought $255 million in an investment grade corporate bond ETF.

☆ Uber Signs Cloud Deals With Google and Oracle
▼ + stars: | 2023-02-13 | by ( Belle Lin | ) www.wsj.com time to read: +5 min

Over 95% of Uber’s IT is currently housed in those data centers, he said. Uber declined to comment on how it plans to spread its data and applications between Google and Oracle’s cloud platforms. While Uber and Google have an existing partnership, the new cloud deal brings them closer together in other areas including launching new services, said Google Cloud Chief Executive Thomas Kurian. With Oracle, Uber is planning to integrate its freight business into Oracle’s cloud-based enterprise resource planning system, as well as other database-related projects, said Oracle Cloud Executive Vice President Clay Magouyrk. Mr. Zargahi said Uber eventually expects the cloud to cost less than its data centers, and will not renew certain data center leases as it moves to the cloud.

☆ Uber, Spurred by Hardware Supply Disruptions, Moves to Multiple Cloud Providers
▼ + stars: | 2023-02-13 | by ( Belle Lin | ) www.wsj.com time to read: +3 min

Over 95% of Uber’s IT is currently housed in those data centers, he said. Uber declined to comment on how it plans to spread its data and applications between Google and Oracle’s cloud platforms. PREVIEWA tipping point came during the Covid-19 pandemic, when supply-chain disruptions pushed IT hardware delivery timelines to more than 12 months, according to Mr. Zargahi. Mr. Zargahi said Uber eventually expects the cloud to cost less than its data centers, and won’t renew certain data center leases as it moves to the cloud. With Oracle, Uber also is planning to integrate its freight business into Oracle’s cloud-based enterprise resource planning system, as well as other database-related projects, said Oracle Cloud Executive Vice President Clay Magouyrk.

☆ Lyft Shares Fall After Unexpected Loss, Weak Outlook
▼ + stars: | 2023-02-10 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Lyft Inc.’s shares sank by more than a third on Friday after the ride-hailing company posted an unexpected quarterly loss and concerns mounted that it was falling further behind Uber Technologies Inc.More than a dozen Wall Street analysts cut their price target for the stock, while six downgraded the stock’s rating, after Lyft reported underwhelming revenue growth and an adjusted quarterly loss of 74 cents a share. Wall Street analysts expected a profit of 13 cents when adjusted for certain items, according to FactSet.

☆ The 2023 Super Bowl Ads Will Feature Booze, Betting and Jesus
▼ + stars: | 2023-02-10 | by ( Megan Graham | Patrick Coffee | ) www.wsj.com time to read: +10 min

The Super Bowl ads on Sunday are poised to promote an unusual mix of alcohol brands, gambling and Jesus. The Super Bowl still regularly draws an audience of around 100 million people, making it TV’s biggest event of the year and advertising’s biggest night. Planters’ Super Bowl ad features comedians mocking Mr. Peanut. The ads are likely to strike a lighter tone than the occasionally somber messages of Super Bowl ads in recent, highly politicized years or the early pandemic, said Anjali S. Bal, an associate professor of marketing at Babson College. Many Super Bowl advertisers have again released their ads well before Super Bowl Sunday to increase their chances of being seen.

☆ Finance Chiefs, Facing Another Year of Persistent Inflation, Prioritize Cost Savings
▼ + stars: | 2023-02-10 | by ( Kristin Broughton | ) www.wsj.com time to read: +6 min

Finance chiefs are pushing their companies to do more with less as they face another year of rising costs. Obviously, we’re dealing with a very unique environment right now with the unprecedented level of cost inflation. But we’re not in that environment right now. Ideally, we can grow as the demand environment hopefully normalizes. And that’s going to give us more optionality as we better understand our demand for AI over time.

Search resuls for: "Technologies Inc"

25 mentions found