Shares of Alphabet Inc. surged on Thursday after the company delivered a strong first-quarter earnings report, easing investor concerns over its rising capital expenditure tied to artificial intelligence infrastructure. The stock gained 7.74% to $374.22, its 52-week high, as markets responded positively to robust growth across its cloud and core advertising businesses, even as spending
Yum Brands on Wednesday reported quarterly earnings and revenue that exceeded analysts’ expectations, supported by another strong performance from its Taco Bell division. The company posted adjusted earnings per share of $1.50, surpassing estimates of $1.38, according to a survey by LSEG. Revenue came in at $2.06 billion, slightly ahead of expectations of $2.04 billion.
Seagate Technology delivered a strong set of third-quarter results that comfortably exceeded Wall Street expectations, sending its shares sharply higher in premarket trading and reinforcing investor confidence in the durability of artificial intelligence-driven demand for data storage. The hard-drive maker reported adjusted earnings of $4.10 per share for the quarter, more than doubling from $1.90
Wall Street opened in the red on Wednesday, as investors were cautious ahead of a pivotal Federal Reserve decision and a heavy slate of Big Tech earnings, while keeping a close eye on rising oil prices and geopolitical tensions. The S&P 500 slipped 0.18%, alongside the Dow Jones Industrial Average, which fell 92 points, while
SoFi Technologies reported strong first-quarter results, with profit and revenue surpassing expectations, but its shares fell sharply after the company issued a slightly weaker-than-expected outlook for the current quarter. The financial services firm said it expects adjusted revenue growth of around 30% in the second quarter, just below analyst estimates of 31%. The cautious guidance
Robinhood stock price slumped by over 9% in the extended hours after the blue-chip company’s earnings fell short of expectations because of the cryptocurrency slump. HOOD dropped to $74 after closing at $82 in the regular session. So, is it safe to buy the dip or sell the rip? Robinhood stock falls as earnings fall
The consumer goods giants that built empires on household staples are struggling to justify their valuations. At the time of writing, Nestlé has shed nearly a quarter of its market value over the past five years. PepsiCo is up just 6.9%. Procter & Gamble, 11.2%. Colgate-Palmolive, 4.3%. Only Coca-Cola, with a near 40% gain, has
Corning reported better-than-expected first-quarter results but issued a softer revenue outlook for the current quarter, weighing on investor sentiment and halting a recent rally in optical communications stocks. The company posted adjusted earnings of 70 cents per share for the quarter, edging past analysts’ estimate of 69 cents, according to FactSet. Core sales rose 18%
The CEO of Norway’s $2.2 trillion sovereign wealth fund has urged companies to adopt artificial intelligence (AI) in a way that benefits society broadly, cautioning against using the technology primarily to cut jobs. Speaking on Tuesday to Reuters, Nicolai Tangen warned that layoffs linked to AI adoption could spark a backlash, particularly as companies globally
US stocks opened lower on Tuesday, led by weakness in technology shares, as investors reassessed whether the artificial intelligence boom can sustain its momentum. The tech-heavy Nasdaq Composite fell more than 1.15%, while the S&P 500 dropped around 0.54%. In contrast, the Dow Jones Industrial Average edged higher by 110 points or 0.23%, supported by