Qualcomm jumps as AI sparks rebound in Chinese smartphone market
(Reuters) - Qualcomm shares rose 4% in premarket trading on Thursday after the smartphone-focused chipmaker signaled an AI-fueled rebound in demand, especially in China, after a two-year slump. Sales to Chinese smartphone makers jumped 40% in the f...
2h ago
Chip parts supplier Siltronic's profit falls on high client inventories
(Reuters) - German chip equipment supplier Siltronic reported a 27.5% drop in first-quarter core profit on Thursday, a week after it slashed annual targets due to customers' still high inventories. The company, which makes silicon wafers used in se...
8h ago
US official urges China, Russia to declare only humans, not AI, control nuclear weapons
By Greg Torode HONG KONG (Reuters) - A senior U.S. official on Thursday urged China and Russia to match declarations by the United States and others that only humans, and never artificial intelligence, would make decisions on deploying nuclear weap...
9h ago
Microsoft to invest $2.2 billion in Malaysia's digital transformation
KUALA LUMPUR (Reuters) - Microsoft will invest $2.2 billion over the next four years in Malaysia to support the country's digital transformation, the company said in a statement on Thursday. (Reporting by Danial Azhar and Rozanna Latiff; Editing b...
10h ago
Japan's Mitsubishi full-year profit down 18%, misses estimates
TOKYO (Reuters) - Japanese trading house Mitsubishi Corp posted on Thursday a 18.4% fall in net profit for the year ended in March to 964 billion yen ($6.2 billion), missing estimates. A LSEG poll of analysts had forecast Mitsubishi's net profit fo...
10h ago
Nvidia supplier SK Hynix says HBM chips almost sold out for 2025
ICHEON, South Korea (Reuters) - South Korea's SK Hynix said on Thursday its high-bandwidth memory (HBM) chips used in AI chipsets are almost sold out for 2025, after their 2024 chips were fully booked. Chief Executive Officer Kwak Noh-Jung said the...
11h ago
Cognizant first-quarter revenue beats estimates on steady spending by clients
(Reuters) - Cognizant Technology Solutions beat Wall Street estimates for first-quarter revenue on Wednesday, helped by steady spending by clients, sending its shares up more than 4% in aftermarket trading. Signs of improving business environment a...
15h ago
PTC forecasts quarterly revenue below estimates
(Reuters) - Industrial software maker PTC forecast quarterly revenue below estimates while also slightly tightening full year guidance on Wednesday, signaling continued weakness in demand for its industrial design and testing software as companies ...
15h ago
Freshworks names Dennis Woodside as CEO, shares tumble
(Reuters) - Freshworks said on Wednesday that Dennis Woodside will take over as CEO of the CRM software maker, and founder Girish Mathrubootham will be the firm's executive chairman. Shares of the San Mateo, California-based company fell about 21% ...
15h ago
Paycom forecasts Q2 revenue below estimates
(Reuters) - Paycom Software on Wednesday forecast second-quarter revenue below market estimates, hit by sluggish demand for payroll and human resource management solutions. Sticky inflation and high borrowing costs have clouded the payroll processo...
15h ago
Qorvo forecasts quarterly results below estimates on weak flagship smartphone market
(Reuters) - Wireless connectivity chipmaker Qorvo forecast first-quarter revenue and profit below Wall Street estimates on Wednesday as it expects weak demand from flagship smartphone market, sending shares down more than 11% in aftermarket trading...
15h ago
Etsy misses first-quarter sales, profit estimates on lower discretionary demand
(Reuters) - Etsy missed Wall Street expectations for first-quarter gross merchandise sales (GMS) and profit on Wednesday, hurt by lower demand for its handcrafted goods and personalized gifts at its online marketplace. WHY IS IT IMPORTANT? Despite ...
15h ago
Chipmaker Wolfspeed forecasts quarterly revenue below estimates as EV sales growth slows
(Reuters) - Chipmaker Wolfspeed forecast current-quarter revenue below estimates on Wednesday as automakers grapple with high inventory levels due to slower-than-expected EV sales growth. Shares of the company, which counts General Motors and Merce...
15h ago
EBay forecasts quarterly revenue below expectations
(Reuters) - Ecommerce firm eBay forecast second-quarter revenue below Wall Street estimates on Wednesday, as demand cools for product categories like collector's items and auto parts. The company expects revenue in the range of $2.49 billion to $2....
15h ago
Qualcomm forecast beats estimates as AI revives smartphone market
By Stephen Nellis and Arsheeya Bajwa (Reuters) - Qualcomm on Wednesday forecast fiscal third-quarter sales and adjusted profit above Wall Street expectations, driven by a faster-than-expected recovery in smartphone markets thanks to artificial-int...
15h ago
US lawmaker probes FTC work with EU to block Amazon iRobot merger
WASHINGTON (Reuters) - The chair of the House Oversight Committee said Wednesday he is investigating the Federal Trade Commission's (FTC) work with the European Commission in the collapse of Amazon.com's plan to acquire iRobot Corp in a $1.4 billio...
19h ago
Analysis-Tesla's restructuring hits executive bench hailed by Elon Musk
By Joseph White, Aditya Soni and Kevin Krolicki (Reuters) - Just over a year ago, Elon Musk shared the stage at Tesla's investor day in Texas with 16 executives who gave detailed presentations on the company's technology and growth plans, then line...
20h ago
British payments group Epos Now explores possible stake sale, sources say
By Amy-Jo Crowley and Anousha Sakoui LONDON (Reuters) - British tech group Epos Now is exploring strategic options, including the sale of a minority stake in the business, four people familiar with the matter told Reuters. The Norfolk-based compa...
20h ago
Abu Dhabi AI company Presight takes majority stake in tech venture AIQ
DUBAI (Reuters) - Artificial intelligence company Presight AI Holding has acquired a majority stake in AIQ, a technology joint venture between Abu Dhabi National Oil Company (ADNOC) and G42, under a new ownership structure announced by the companie...
20h ago
US trade panel to probe GoPro's claims that Chinese firm violated its patents
WASHINGTON (Reuters) - The U.S. International Trade Commission said on Wednesday it was launching a trade investigation into claims by GoPro Inc that its camera and camera systems patents were violated by a Chinese company importing similar product...
20h ago
Anthropic releases business chatbot in hunt for corporate dollars
By Stephen Nellis (Reuters) - Artificial intelligence startup Anthropic launched a version of its latest chatbot technology aimed at businesses on Wednesday, jumping into the race to capture corporate dollars. The San Francisco-based firm, backed b...
22h ago
US prosecutors examining financial transactions at Block, NBC News reports
(Reuters) - U.S. prosecutors are examining financial transactions at Block, NBC News reported on Wednesday, citing two people with direct knowledge of the matter. NBC reported that federal prosecutors were discussing with a former employee alleged ...
22h ago
Global Payments forecasts full-year profit above estimates on strong spending
(Reuters) - Global Payments forecast better-than-expected profit for 2024 on Wednesday, as a strong labor market boosts consumer spending. Payment technology companies have largely downplayed worries of a spending slowdown despite higher-for-longe...
May 01, 2024
Roblox players to start seeing video ads in its virtual realms
(Reuters) - Roblox is rolling out virtual billboards with video advertisements, the gaming platform said on Wednesday, in its latest move to draw revenue from its games that are mostly free to play. Users will now see billboards featuring content f...
May 01, 2024
Verisk's first-quarter profit beats on insurance-focused analytics demand
(Reuters) - Data analytics firm Verisk beat estimates for first-quarter profit on Wednesday, driven by strong demand for its products used by property and casualty (P&C) insurers to assess underwriting risks. WHY IT'S IMPORTANT P&C insurers' earnin...
May 01, 2024