By Yuvraj Malik, Anna Tong and Stephen Nellis (Reuters) -Microsoft beat Wall Street estimates for third-quarter revenue and profit on Thursday, driven by gains from adoption of artificial intelligence across its cloud services, and the company’s shares jumped more than 4% in extended trade. Executives forecast ranges for current quarter cloud revenue that were mostly…
By Greg Bensinger and Akash Sriram (Reuters) – Alphabet announced its first-ever dividend on Thursday and a $70 billion stock buyback, cheering investors who sent the stock surging nearly 16% after the bell. The Google parent is returning capital while spending billions of dollars on data centers to catch up with rivals on generative artificial…
By Deborah Mary Sophia (Reuters) -Caterpillar on Thursday warned of a sales drop in the current quarter as volumes take a hit from dealers tightening equipment inventories, sparking worries that a months-long boom in machinery demand may be coming to an end. Shares of the global economy bellwether slumped 7% in morning trade as it…
By Blake Brittain (Reuters) -GlaxoSmithKline sued Pfizer and BioNTech in Delaware federal court on Thursday, accusing them of infringing GSK patents related to messenger RNA (mRNA) technology in the companies’ blockbuster COVID-19 vaccines. GSK said in the lawsuit that Pfizer and BioNTech’s Comirnaty vaccines violate the company’s patent rights in mRNA-vaccine innovations developed “more than…
By Raphael Satter WASHINGTON (Reuters) – Technology firm Cisco Systems said that hackers have subverted some of its digital security devices to break in to government networks globally. In a blog post published on Wednesday, the company said its Adaptive Security Appliances – pieces of equipment that roll several different digital defense functions into one…
By Stephen Culp NEW YORK (Reuters) – Disappointing forecasts from Facebook parent Meta Platforms has proven contagious, sparking a sell-off in tech and tech-related stocks in after-hours trading. Meta said it expects increased spending on AI technology and lower revenues in the current quarter, sending its stock down as much as 13% in extended trading….
By Granth Vanaik (Reuters) -Chipotle Mexican Grill raised its full-year sales forecast on Wednesday, on the back of resilient demand for its burritos and rice bowls despite higher menu prices. Shares of the company were up 3% at $3,015 in extended trading. They breached the $3,000 mark for the first time after the company approved…
By Arsheeya Bajwa (Reuters) -International Business Machines will buy HashiCorp in a deal valued at $6.4 billion, the company said on Wednesday, expanding its cloud-based software products to tap into an AI-powered boom in demand. Software has been a bright spot for IBM as its consulting business grapples with more cautious spending by enterprises navigating…
By Hyunjoo Jin and Akash Sriram (Reuters) -Tesla said on Tuesday it would introduce “new models” by early 2025 using its current platforms and production lines as it retreated from more ambitious plans to produce an all-new model that had been expected to cost $25,000. The talk of new offerings on a faster timeline sent…
By Manya Saini and Pritam Biswas (Reuters) -Visa’s second-quarter results sailed past Wall Street estimates on Tuesday, as consumers shrugged off worries of a slowing economy to swipe cards on everything from travel to dining out, sending its shares up 2.7% after the bell. U.S. consumer spending has remained remarkably resilient despite higher-for-longer interest rates,…
