Intel CEO Pat Gelsinger speaks while showing silicon wafers during an event called AI Everywhere in New York, Thursday, Dec. 14, 2023. Seth Wenig | AP Intel’s long-awaited turnaround looks farther away than ever after the company reported dismal first-quarter earnings. Investors pushed the stock down 10% on Friday to …
Microsoft delivered picture-perfect earnings after the bell Thursday, calming the market’s brief fears about runaway spending on AI infrastructure without the cloud revenues to show for it. Revenue increased about 17% year over year, to $61.86 billion, beating the Street consensus estimate of $60.8 billion, according to data from LSEG. …
Stocks tumbled Thursday after the latest U.S. economic data showed a sharp slowdown in growth and pointed to persistent inflation. The Dow Jones Industrial Average slid 352 points, or 0.9%, weighed down by steep declines in Caterpillar and IBM. The S&P 500 dropped 0.5%, and the Nasdaq Composite lost 0.7%. …
Prabhakar Raghavan, senior vice president at Google, speaks during the US Conference of Mayors Winter Meeting in Washington, DC, US, on Wednesday, Jan. 17, 2024. Julia Nikhinson | Bloomberg | Getty Images Wearing a hoodie with the words “We use Math” on the front, Google search boss Prabhakar Raghavan had …
Sundar Pichai, chief executive officer of Alphabet Inc., during Stanford’s 2024 Business, Government, and Society forum in Stanford, California, US, on Wednesday, April 3, 2024. Justin Sullivan | Getty Images As tech’s behemoths get set to report earnings this week, they do so facing a mountain of drama. At Google, …
A big week of earnings looms, featuring some of the largest companies in the world. Roughly 30% of the S & P 500 is slated to report. So far, the reporting period has been mixed. While more than 73% of the companies that have reported have beaten estimates, overall Q1 …
It was another ugly week for stocks. The S & P 500 and the Nasdaq on Friday extended their declines to six straight sessions, their worst losing streaks in more than 1½ years. The Nasdaq sank 2% on Friday as Netflix dropped nearly 11% post-earnings and Club stock Nvidia fell 10%, entering …
We’ve become prisoners of short-rate forecasts. Yeah, the ones controlled by the Federal Reserve. But those fearless investors who have broken out of this self-imposed mental jail are enjoying bountiful returns. Sure, it appears to be nothing but alchemy to the jailers and their powerful protagonists in the media. But …
Amazon is making its largest outside investment in its three-decade history as it looks to gain an edge in the artificial intelligence race. The tech giant said it will spend another $2.75 billion backing Anthropic, a San Francisco-based startup that’s widely viewed as a front-runner in generative artificial intelligence. Its …
Microsoft said Monday it has selected company veteran Pavan Davuluri to lead its Windows operating system and Surface devices teams. Davuluri, who joined Microsoft in 2001 and has been corporate vice president for almost three years, is taking on additional responsibilities after Panos Panay decamped to Amazon last fall. Windows …