DIRS.INFO The most relevant business & tech news

☆ Activist Anson Funds may have spotted a huge opportunity for value in Five9
▼ + stars: | 2024-08-03 | by ( Kenneth Squire | ) www.cnbc.com time to read: +5 min

Business: Five9 provides intelligent cloud software for contact centers in the United States and internationally. It offers a virtual contact center cloud platform that delivers a suite of applications, which enables the breadth of contact center-related customer service, sales and marketing functions. Five9 is a cloud-based contact center software provider empowering clients with solutions for customer service, sales and marketing. It is a developer and provider of AI contact center solutions that augment or replace human beings often at more than double the price. As an independent company, Five9 has a tremendous opportunity for value.

Persons: Anson, Moez Kassam, Sagar Gupta, InContact, Five9, Mike Burkland, Ken Squire Organizations: Legion Partners, Nice, Five9, 13D Locations: United States

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Amazon, Intel, Morgan Stanley, Square, Coinbase, Lululemon and more
▼ + stars: | 2024-08-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Wells Fargo downgrades Morgan Stanley to underweight from equal weight Wells Fargo downgraded Morgan Stanley and said the "upward premium re-rating seems over." Morgan Stanley initiates Lionsgate Studios at overweight Morgan Stanley said it's bullish on shares of the movie studio company. Morgan Stanley reiterates Tesla as a top pick Morgan Stanley said it's standing by the stock following an analysis of July auto sales. Morgan Stanley upgrades Mobileye to equal weight from underweight Morgan Stanley said the risk/reward is more balanced for the auto supply tech company. " Morgan Stanley reiterates Nvidia as overweight Morgan Stanley says it's sticking with its overweight rating on the AI chipmaker.

Persons: Goldman Sachs, Goldman, Morgan Stanley, Apple, Q, Gildan, Wells, downgrades Morgan Stanley, it's, TD, TD Cowen, Cowen, Raymond James downgrades Crocs, Raymond James, CROX, Oppenheimer, Tesla, Rosenblatt, Lululemon, LULU, K's Organizations: TEAM, Apple Intelligence, Barclays, Deutsche Bank, Amazon, Big Cap Tech, Stifel, Bank of American, Bank of America, Lionsgate, Lionsgate Studios, Intel, of America, TD Cowen, Dynamics, U.S, EV, 7M, UBS downgrades, UBS, Nvidia Locations: California, USA

Along with the downgrade, Roach slashed her price target to $286 from $463. Along with the downgrade, Arya cut his price target to $23 from $35 a share. — Samantha Subin 6:15 a.m.: Apple results suggest 'best is yet to come,' support multiyear upgrade cycle The latest earnings report from Apple reaffirms analysts' confidence in the technology giant and a multiyear upgrade cycle when it launches its latest iPhone later this year. Bernstein's Mark Shmulik trimmed his price target by $5 to $210 a share but encouraged investors to use the sell-off as an entry point. His price target of $95, down from $99, implies downside of 6.6% over the next 12 months.

Persons: Wells Fargo, Morgan Stanley, Henning Cosman, Cosman, — Samantha Subin, Goldman Sachs downgrades Lululemon, Goldman Sachs, Lululemon, Brooke Roach, Roach, LULU YTD, Vivek Arya, Arya, Samantha Subin, America's Wamsi Mohan, macOS, Samik Chatterjee, Citi's Atif Malik, Bernstein's Toni Sacconaghi, Morgan Stanley's Brian Nowak, ISI's Mark Mahaney, Bernstein's Mark Shmulik, Wells, downgrades Morgan Stanley Wells Fargo, Mike Mayo, Mayo, Morgan, Fred Imbert Organizations: CNBC, Barclays, Ferrari, Bank of America, Intel, AMD, Apple, Apple Intelligence, America's, Amazon, Web Services, North Locations: Europe, U.S, Lululemon

☆ Wall Street to Big Tech: Is AI ever going to make money?
▼ + stars: | 2024-08-02 | by ( Clare Duffy | ) edition.cnn.com time to read: +7 min

New York CNN —There’s been one big question on the minds of Wall Streeters this tech earnings season: When will anyone start making actual money from artificial intelligence? But Big Tech still has relatively little to show for all their billions spent in terms of significant revenue gains from AI or profitable new products, and investors are starting to get antsy. Shares of both Google and Microsoft dipped following their earnings reports, a sign of investors’ discontent that their huge AI investments hadn’t led to far-better-than-expected results. She added: “Gen AI is where we’re much earlier … We don’t expect our gen AI products to be a meaningful driver of revenue in ’24. As an example of just how long it can take AI products to come to fruition, take Tesla’s AI-based “full self-driving” technology.

Persons: New York CNN — There’s, ChatGPT, ’, Morgan Stanley, Keith Weiss, Steven Ju, Sundar Pichai, Goldman Sachs, —, ” D.A, Davidson, Gil Luria, Meta, Amy Hood, “, Susan Li, that’s, ” Luria, we’re, Jim Covello, Tesla, FSD, Google’s Pichai, Mark Zuckerberg, — Luria Organizations: New, New York CNN, Big Tech, UBS, Google, Microsoft, CNN, Meta Locations: New York, Silicon Valley

☆ 6 top Goldman dealmakers, from Dan Dees to Gene Sykes, reflect on their careers at the investment bank, from junior banker to partner
▼ + stars: | 2024-08-01 | by ( Reed Alexander | ) www.businessinsider.com time to read: +12 min

Wall Street careers are notoriously grueling and littered with politicking and jockeying to climb the ranks. AdvertisementNow, these six partners are looking back on their own rise, offering words of wisdom from their own Wall Street origin stories. At Goldman Sachs, the core of who we are in investment banking is M&A. Gene Sykes, cochairman of global M&A and global TMT:Gene Sykes Courtesy of Goldman SachsThe market for M&A advice has evolved over time. Are you a Goldman Sachs or Wall Street insider?

Persons: Goldman Sachs, Alison Mass, Stephan Feldgoise, Dan Dees, Hank Paulson, Tim Ingrassia, Alison, Goldman, Peter Weinberg, Gene Sykes, It's, Mark Sorrell, John Thornton, John Waldron, Karen Cook, Yoel Zaoui, Gregg Lemkau, it's, Jennifer Kopylov, Reed Alexander Organizations: Service, Wall, Partners, Business, US Treasury, Street, Goldman Locations: New York City, London, New York, Europe, American

☆ Podcast: Samsung bets on the Galaxy Ring and AI as its next big thing
▼ + stars: | 2024-07-31 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +42 min

Along with its S24 series of smartphones, foldable devices, smartwatches and now the Galaxy Ring, Samsung is hoping to lock users into its world of products held together with its suite of artificial intelligence features, known as Galaxy AI. Arjun KharpalOne of the things Samsung said was look, the ring is one product, but we've got the watch, we've got the smartphone. I think that's the right approach for Samsung, I don't think they have unrealistic expectations for volumes on this. And you'd feel like if there was some sort of Apple ring, it would do pretty good volumes. Do you think Samsung is seriously looking at ways to monetize this via subscriptions or other kinds of service business model?

Persons: aren't, Tom Chitty, Ben Wood, Meta's Ray, Arjun, Tom Chitty I've, I've, we've, Arjun Kharpal, let's, It's, That's, it's, you've, they've, there's, they're, someone's, I'm, that's, you'll, Ben Wood It's, smartwatch, Arjun Kharpal Apple's, Ben Wood They've, Tim Cook, He's, who'd, Tom Chitty Diamond, somebody's, who've, wasn't, Samsung hasn't, we'll, Ben, they'll, Will, wearables, Kharpal, Arjun Kharpal Tom, Tom, Tom Chitty We'll Organizations: Samsung, South, Galaxy, CNBC, CCS Insight, Mobile, Apple, Garmin, Apple Watch, U.S, Vision, Samsung Electronics, Google, MWC Locations: South Korean, Paris, France, beyondthevalley@cnbc.com, There's, Finland, London

☆ AMD jumps on earnings report that validates our decision to reinvest in the stock
▼ + stars: | 2024-07-30 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

AMD sold off on its first-quarter earnings report due in large part to its MI300 sales guidance falling short of sky-high expectations. Nvidia remains the dominant player in AI chips, but AMD is continuing to carve out a lane in the rapidly expanding market. Among the highlights, Su said Microsoft has expanded its use of the AI chips for certain software applications, including messaging app Teams. AMD's data center business is now nearly 50% of companywide revenues, up from 37% in the fourth quarter of 2023. Within data center, sales of both AI chips and traditional server chips will grow in the third quarter, Su said.

Persons: Lisa Su, Su, Jim Cramer, it's, —, FactSet, Jim Cramer's, Jim, Cheng Organizations: Revenue, AMD, Intel, Nvidia, Broadcom, Club, Microsoft, CNBC, Micro Devices, Afp, Getty Locations: Taipei

☆ Temu and Shein's soaring popularity has Wall Street eyeing China's influence on tech earnings
▼ + stars: | 2024-07-29 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +9 min

The topic of Temu and Shein's growth will hover over tech earnings this week, as Amazon reports second-quarter results alongside Meta, eBay and Etsy. watch nowIn Amazon's report on Thursday, the company is expected to show revenue growth of about 11% to $148.6 billion, according to LSEG. That's where Temu and Shein come into play, as merchants now have new ways to get products to American consumers. Amazon has continued to highlight its delivery prowess and its focus on speed in the face of growing competition from Temu and Shein. However, while it's long touted itself as the "lowest-priced U.S. retailer," Amazon has shown that it's well aware of Temu and Shein's increasing popularity.

Persons: Stefani Reynolds, David Zapolsky, Zapolsky, it's, Shein, Andy Jassy, Jassy, It's, Angus Mordant, Temu, Meta, Susan Li, Jamie Iannone, Etsy, Amazon, Amazon's Zapolsky Organizations: Apple, CNBC, Afp, Getty, eBay, Meta, Etsy, Tech, YouTube, Microsoft, Intel, Qualcomm, Google, PDD Holdings, Amazon, European Union, Bloomberg, Barclays, Finance, EBay, Bank of America, Walmart Locations: U.S, China, Temu, New York, Asia, Pacific, San Francisco, Singapore

☆ Apple's reportedly delaying its AI rollout — and that could be a good thing, analysts say
▼ + stars: | 2024-07-29 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewApple is delaying the launch of Apple Intelligence after weeks of anticipation, but the tech giant might be onto something. This story is available exclusively to Business Insider subscribers. Analysts told Business Insider that it's no big deal. AdvertisementMunster told BI that Apple should consider moving the iPhone 16's release date to align with Apple Intelligence.

Persons: —, Siri, Gene Munster, Apple, William Kerwin, Dan Ives, Munster, " Kerwin Organizations: Service, Apple Intelligence, Business, Bloomberg, Analysts, Asset Management, Apple, Morningstar Locations: WWDC

☆ ‘Deadpool & Wolverine’ is a box office hit on its opening weekend with the biggest R-rating debut
▼ + stars: | 2024-07-28 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +6 min

New York CNN —“Deadpool & Wolverine” barreled through the $200 million benchmark, cementing the blockbuster as the record holder for the highest grossing opening weekend for an R-rated movie. “Deadpool & Wolverine” is now also among the top opening weekends ever, ranking at No. Could “Deadpool & Wolverine” reinvigorate the franchise? But less than three weeks after its release, the year-over-year domestic box office revenue deficit shrunk from 27% to 19%. Now, the deficit stands at 16.9% and it could keep shrinking depending on how “Deadpool & Wolverine” finishes its run in theaters.

Persons: New York CNN —, Deadpool, ”, —, “ Deadpool, MCU, ” Shawn Robbins, “, ’, ” Robbins, Michael O’Leary, ‘, ” Paul Dergarabedian, Mario, “ Barbie ”, “ Oppenheimer ” — Organizations: New, New York CNN, Marvel, Disney, CNN, showtime, National Association of Theatre Owners, ‘, Mario Bros Locations: New York, United States, ”

☆ Activist Trian has a few levers to pull to build shareholder value at Solventum
▼ + stars: | 2024-07-27 | by ( Kenneth Squire | ) www.cnbc.com time to read: +8 min

Business: Solventum , formerly known as 3M Health Care, is a global health-care company that was spun out from 3M on April 1 . As a standalone company, Solventum has been under-covered and misunderstood by the market. There is also no shortage of examples of Trian being a valuable corporate governance-oriented investor and creating tremendous shareholder value from the board level. While Trian has a history of being an active shareholder, the firm has also created tremendous shareholder value as an engaged director. Moreover, if there is an opportunity to divest one or more businesses, shareholders would have comfort with a financially astute shareholder representative on the board to evaluate competing offers to assure the maximization of shareholder value.

Persons: Trian, Nelson Peltz, Peltz, Solventum, Pepper, Ingersoll Rand's, Russell, Ken Squire Organizations: Health, 3M, What's, Bloomberg, Dental Solutions, Information Systems, Electric plc, Kraft Foods, Dow, General Electric, GE, GE HealthCare, GE HealthCare Technologies, 13D Locations: Solventum

☆ Premium economy is having a moment
▼ + stars: | 2024-07-27 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

Some airlines have revamped their premium economy services in recent months, with passengers increasingly tempted by the prospect of upgrading to more luxurious seating without blowing their budget. Delta plans to roll out a premium economy service to transcontinental flights in September, while Singapore Airlines announced its updated premium economy class in March with a 200-item food menu. 'The sweet spot between cost and luxury'Delta plans to roll out a premium economy service to transcontinental flights in September. AdvertisementCounterpoint director and aircraft interiors expert Rob Semple told BI that the key to convincing passengers to upgrade was to make premium economy "visibly better" than economy class to increase the sense of FOMO — while still maintaining a luxury gap between premium economy and the more expensive business class. Advertisement"We all know that economy class sucks on pretty much every airline.

Persons: —, United, Collin Heller, Bauer, Griffin, Rob Semple, Semple, Henry Harteveldt Organizations: Service, Singapore Airlines, Business, Alaska Airlines, Wall Street, Counterpoint Market Intelligence, AaronP, Getty, Airlines

☆ ‘Deadpool & Wolverine’ fuels an already-hot summer box office, opens at $96 million
▼ + stars: | 2024-07-27 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +4 min

“This would rank among the top 10 openings of all-time and marks the sixth-highest Friday ever reported at the box office,” said Paul Dergarabedian, senior media analyst at Comscore. An over-performing box office makes a comebackAlthough the summer box office was off to a sputtering start after a tepid spring, there have been several blockbusters invigorating the industry. But less than three weeks after its release, the year-over-year domestic box office revenue deficit shrunk from 27% to 19%. Now, the deficit stands at 16.9% and it could keep shrinking depending on how “Deadpool & Wolverine” performs. Although analysts are predicting a more lukewarm total for 2024, the successful summer movie slate is positioning the industry to further close the gap.

Persons: Deadpool, ”, Daniel Loria, Paul Dergarabedian, Ryan Reynolds, Hugh Jackman, Shawn Levy, ” Dergarabedian, ’, ‘, Dergarabedian, “, Mario, “ Barbie ”, “ Oppenheimer ” —, — Organizations: New, New York CNN, Box, Comscore, showtime, Rotten, Marvel Cinematic, ‘, Disney, Mario Bros Locations: New York, United States, ”

☆ Stocks making the biggest moves premarket: Coursera, WW International, DexCom, Deckers and more
▼ + stars: | 2024-07-26 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Dexcom — The medical device stock plummeted more than 36% after the company posted a second-quarter revenue miss. The company's $579 million revenue was also lower than the consensus estimate of $597 million. Coursera — The online course provider stock surged 26% after Coursera posted second-quarter revenue of $170 million, which exceeded the $164 million analysts had expected, according to LSEG. 3M — The industrials giant added nearly 7% after posting second-quarter adjusted earnings of $1.93 and adjusted revenue of $6.02 billion. Charter's $13.69 billion revenue also exceeded the $13.59 billion analysts had expected.

Persons: George Kurtz, LSEG, Dexcom, Boston Beer, Coursera, Bristol Myers, Morgan Stanley, —, Alex Harring, Sarah Min, Jesse Pound Organizations: Semiconductor, Nvidia, Broadcom, Devices, Qualcomm, Micron Technology, Boston Beer, Boston, Mohawk Industries, Mohawk, Bristol Myers Squibb, Bristol, Revenue, Norfolk Southern, Charter Communications

☆ Stocks making the biggest moves midday: 3M, Dexcom, Sweetgreen, Texas Roadhouse and more
▼ + stars: | 2024-07-26 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Dexcom — Shares plummeted more than 40% after the medical device maker missed expectations for second-quarter revenue and offered weak full-year guidance for the measure. That exceeded analysts' expectations for earnings of $3.48 per share on revenue of $808 million, per LSEG. Norfolk Southern — Shares of the railroad operator gained 10% after a second-quarter earnings beat. Texas Roadhouse — The restaurant chain climbed 4.4% after second-quarter earnings topped expectations. Texas Roadhouse earned $1.79 per share, above the $1.64 per share estimate from analysts surveyed by LSEG.

Persons: Dexcom, Coursera, Newell Brands, Newell, Boston Beer, LSEG, Mohawk, Bristol Myers Squibb, Morgan Stanley, FactSet, amortization, Bitcoin, Alexander, Baldwin —, Alexander & Baldwin, Piper Sandler, Guggenheim, Sweetgreen —, Oppenheimer, Stifel, Yun Li, Pia Singh, Sean Conlon, Jesse Pound, Hakyung Kim, Lisa Kailai Han Organizations: LSEG, Newell, Yankee, Wall, Boston Beer, Boston, Mohawk Industries, Bristol Myers Squibb, Bristol, Revenue, Norfolk Southern, Norfolk, Charter Communications, Southwest Airlines, Deutsche Bank, Southwest, Redburn, FactSet, FTAI Aviation, Texas, Texas Roadhouse, LSEG . Revenue, Colgate, Palmolive Locations: Norfolk

☆ Bristol Myers Squibb beats earnings estimates, raises outlook as drugmaker slashes costs
▼ + stars: | 2024-07-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

The Bristol Myers Squibb research and development center at Cambridge Crossing in Cambridge, Massachusetts, on Dec. 27, 2023. Bristol Myers Squibb on Friday reported second-quarter earnings and revenue that topped expectations and raised its full-year guidance as the drugmaker moves to slash costs. The results come as Bristol Myers moves to cut $1.5 billion in costs by 2025 and reinvest that money into key drug brands and research and development programs. Bristol Myers posted net income of $1.68 billion, or 83 cents per share, for the second quarter. Revenue from Bristol Myers' blood cancer drug Revlimid also topped analysts' estimates for the period despite facing competition from cheaper generics.

Persons: Bristol Myers, Revlimid, Joe Biden's Organizations: Bristol Myers Squibb, LSEG, Revenue Locations: Cambridge, Cambridge , Massachusetts, Bristol, Revlimid

☆ Stocks making the biggest moves midday: Ford, Viking Therapeutics, ServiceNow and more
▼ + stars: | 2024-07-25 | by ( Sean Conlon | ) www.cnbc.com time to read: +6 min

Ford posted adjusted earnings per share of 47 cents compared to the consensus forecast of 68 cents, according to LSEG. Edwards also reported second-quarter adjusted earnings of 70 cents a share, a penny above expectations, per LSEG. Honeywell — Shares moved more than 4% lower after the industrial giant's full-year outlook missed analysts' expectations. According to LSEG, analysts were expecting earnings to come in at $2.20 per share on $15.62 billion in revenue. Northrop Grumman — The defense stock climbed more than 5% after the company beat second-quarter earnings expectations.

Persons: Ford, Molina, FactSet, Edwards Lifesciences, Edwards, CJ Desai, LSEG, RTX, AbbVie, Northrop Grumman, —, Alex Harring, Yun Li, Pia Singh, Hakyung Kim, Jesse Pound Organizations: Ford, Viking Therapeutics, U.S . Army . American Airlines, American Airlines, Honeywell —, Southwest Airlines —, Southwest, Citi, Hasbro, Revenue, Machines, Business Machines, Nasdaq

☆ Stocks making the biggest moves premarket: American Airlines, Honeywell, RTX, Ford and more
▼ + stars: | 2024-07-25 | by ( Hakyung Kim | ) www.cnbc.com time to read: +7 min

Southwest reported 58 cents in adjusted earnings per share on $7.35 billion of revenue. Analysts surveyed by LSEG were looking for a profit of 51 cents per share on $7.32 billion in revenue. RTX reported $1.41 earnings per share, ex-items, compared to analysts' estimate of $1.30 per share, according to LSEG. KLA reported adjusted earnings of $6.60 per share, higher than analysts' expectations of $6.15 per share, according to LSEG. Ford reported adjusted earnings per share of 47 cents, significantly less than the consensus forecast of 68 cents, per LSEG.

Persons: oversupply, overshadowing, AbbVie, Dow, LSEG, Northrop Grumman, Dr Pepper, ServiceNow, CJ Desai, Molina, FactSet, Edwards, Ford, —, Yun Li, Jesse Pound, Christina Cheddar Berk, Fred Imbert Organizations: Airlines —, American Airlines, Honeywell —, Southwest Airlines —, Hasbro, IBM, Northrop, LSEG, Nasdaq, KLA Corporation, U.S . Army, Molina Healthcare, Technology, Ford, Viking Therapeutics Locations: LSEG

☆ Chinese EV startups are spending more on research than Tesla is
▼ + stars: | 2024-07-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

CNBC | Evelyn ChengBEIJING – U.S.-listed Chinese electric car companies are spending more on research as a ratio to sales than Tesla , according to CNBC analysis of the four automakers' first-quarter earnings. Of the four U.S.-listed Chinese electric car companies, Nio ranked first, spending nearly 29% of revenue in the first three months of the year on research and development. He was referring to a popular term in China to describe fierce competition, especially in the electric car industry. She noted that can help Chinese electric car companies respond more quickly to customers and market needs than traditional automakers. Geely has also released an electric car architecture called SEA that it says allows for quicker production of different sized vehicles.

Persons: Evelyn Cheng, Paul Gong, Nio, Elon, Feng Shen, Shen, William Li, Li, Jing Yang, Zeekr's, Parent, Ren Xiangfei, Ren, Geely, Tesla, Taylor Ogan Organizations: CNBC, UBS, Elon Musk's, Ford Motor, China's Ministry of Industry, Information Technology, Fitch, China Passenger Car Association, Snow Bull, Tech Locations: Hefei, Evelyn Cheng BEIJING – U.S, U.S, China, Nio, Hefei city, Anhui, Shanghai, Asia, Pacific, Zhejiang province, Hong Kong, Shenzhen

☆ US indicts North Korean hacker accused of helping extort US hospitals
▼ + stars: | 2024-07-25 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +2 min

CNN —The US Justice Department on Thursday announced the indictment of an alleged North Korean government-backed hacker for allegedly participating in a scheme to break into US hospital computer systems and extort them for ransom. The hacks of health care providers locked up medical records and disrupted health care services in the US, US officials said. Thwarting North Korean hacking and money laundering has become a national security priority for the Biden administration. CNN previously reported on how South Korean spies and American companies try to intercept cryptocurrency stolen by North Korean hackers. Another CNN investigation identified one cryptocurrency entrepreneur who said his firm had unwittingly sent a North Korean IT worker tens of thousands of dollars.

Persons: Biden Organizations: CNN, US Justice Department, North, Court, District of, The State Department, North Korean, State Department, United Nations, cyberattacks, White Locations: Korean, Rim, Florida and Kansas, Arkansas and Connecticut, Colorado, District of Kansas, Rim ., North Korean

☆ Stocks making the biggest moves midday: Lamb Weston, Tesla, Enphase Energy and more
▼ + stars: | 2024-07-24 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

Lamb Weston generated adjusted earnings of 78 cents per share on $1.61 billion of revenue. Wall Street analysts were looking for $1.26 per share in earnings on $1.70 billion of revenue, according to FactSet. Tesla did beat expectations on revenue, however, posting $25.5 billion compared to the consensus estimate of $24.77 billion, per LSEG. Vertiv posted earnings of 67 cents per share, which is above the FactSet consensus estimate of 57 cents per share. The company posted earnings of $3.26 per share, which is below the FactSet consensus estimate of $3.28 per share.

Persons: Lamb Weston, Tesla, LSEG, Vertiv, FactSet, Amphenol, —, Alex Harring, Yun Li, Hakyung Kim, Jesse Pound, Sarah Min Organizations: Wall Street, Rivian Automotive, Energy, Seagate Technology, Vertiv Holdings, Revenue, Google, YouTube, StreetAccount, Visa —, Visa, LSEG, FactSet, Dynamics, Boston

☆ Stocks making the biggest moves premarket: Alphabet, Tesla, Texas Instruments, Meta Platforms and more
▼ + stars: | 2024-07-24 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Tesla — Stock in the electric vehicle company sank about 9% after second-quarter earnings were weaker-than-expected. Texas Instruments — Stock in the chipmaker ticked up about 2% thanks to better-than-expected second-quarter earnings. Texas Instruments reported earnings of $1.22 per share while analysts polled by LSEG expected $1.17. Visa's $8.9 billion in revenue was slightly weaker than an estimated $8.92 billion from analysts polled by LSEG. Analysts polled by LSEG forecast $404 million.

Persons: LSEG, Goldman Sachs, Goldman, —, Alex Harring, Sarah Min, Jesse Pound Organizations: YouTube, . Texas, —, Texas, Garden Entertainment, Visa —, LSEG, FactSet, Capital, Meta, Seagate, Enphase Energy Locations: Madison

☆ Hedge fund manager Dan Niles says it's too early to buy beaten-up mega-cap tech stocks
▼ + stars: | 2024-07-24 | by ( Stephanie Landsman | ) www.cnbc.com time to read: +3 min

Hedge fund manager Dan Niles sees this week's tech sell-off as confirmation that the trade is in significant trouble. On July 11, Niles warned on X that earnings season could expose big risks in the megacap tech trade. He was particularly worried about the Magnificent Seven stocks, which include Tesla , Nvidia , Alphabet , Meta Platforms , Microsoft , Apple and Amazon . So, you're going to have a fall off some time next year in cap equipment that's going to be horrific because of that." Longer term, Niles thinks the bull case for megacap tech stocks is intact.

Persons: Dan Niles, Niles, CNBC's, I'm, they're, China's, there's, we're, we've Organizations: Google, Niles Investment Management, Nvidia, Microsoft, Apple, Cisco Locations: frothiness, China, Niles

☆ How startups can get in top shape for an IPO, according to Silicon Valley lawyer Louis Lehot
▼ + stars: | 2024-07-24 | by ( Alistair Barr | ) www.businessinsider.com time to read: +11 min

Louis Lehot, a Silicon Valley law-firm partner, specializes in taking companies from startup to IPO. The IPO market is expected to pick up later this year, so Business Insider emailed Silicon Valley lawyer Louis Lehot, a partner at Foley & Lardner, for advice on how startups should prepare for life as public companies. Are public market investors generally keen to invest in IPOs, or are they focused elsewhere? Public market investors are selective, focusing on established profitability and sustainable growth over speculative, high-growth stories. What are the key process changes companies need to make ahead of an IPO?

Persons: Louis Lehot, Lehot, —, Lardner, Collison Organizations: Service, Foley, Healthcare, Biotech, Green Energy, Enterprise, Street, Investor

☆ Tesla’s Profit Fell 45% in the Second Quarter on Weak E.V. Sales
▼ + stars: | 2024-07-23 | by ( Neal E. Boudette | ) www.nytimes.com time to read: 1 min

Tesla on Tuesday reported a significant drop in profit in the three-month period between April and June, a result of the electric car company’s sluggish sales. The automaker said it earned $1.5 billion in the second quarter of the year on revenue of $25.5 billion. In the second quarter of 2023, Tesla made $2.7 billion and had revenue of $24.9 billion. The company’s current operating profit margin, a measure of how much money it makes on every dollar of revenue, was 6.3 percent, compared with 9.6 percent in the same period a year ago. The results will most likely heighten pressure on Tesla and its chief executive, Elon Musk, to show that the company can find new ways to grow and make money.

Persons: Tesla, Elon Musk

Search resuls for: "of Revenue"

25 mentions found