Uber has reached a momentous milestone, achieving its first-ever operating profit. The American ride-hailing giant, Uber Technologies Inc (NYSE: UBER), has successfully transitioned into a profitable enterprise, as evidenced by its latest financial results. The company reported pre-tax earnings of $326 million (£255 million), a remarkable turnaround from the previous year’s operating loss of $713…
Bernstein’s outlook for Nvidia appears more positive, bolstered by the latest news from major cloud-computing vendors regarding their AI spending plans. The technology analysts at Bernstein downplayed short-term and medium-term risks of an AI infrastructure oversupply leading to a potential boom and bust cycle for Nvidia’s semiconductors. Instead, they see robust customer demand for Nvidia…
NVIDIA Corp (NASDAQ: NVDA) is enjoying a boost in its stock price today, thanks in part to the positive quarterly results from Meta Platforms Inc. (NASDAQ: META). In an impressive second-quarter performance, Meta Platforms reported a revenue of $32 billion, marking an 11% year-over-year increase and surpassing the Street’s consensus estimate of $31.12 billion. The…
AbbVie Inc (NYSE: ABBV) delivered its Q2 earnings report with noteworthy figures, showing resilience amid challenging conditions. Adjusted EPS for the quarter stood at $2.91, which, despite being down 13.6% year-over-year, surpassed the consensus estimate of $2.80. The company’s overall sales experienced a decline of 4.9% year-over-year (or 4.2% on an operational basis), totaling $13.87…
Shares of Tesla (TSLA) rallied 5% after reporting first-quarter deliveries that were in line with expectations. Investors worried that supply chain issues would lead the EV maker to miss its output target. The better-than-feared number provided some relief. The rally made Elon a cool $9 billion in net worth. Life is good when you are…
Russia’s invasion of Ukraine has dominated headlines. Rightfully so as this marks the largest military battle on European soil since 1945. Markets are on high alert as analysts and economists project the impact of the invasion on the global economy. One important story that has slipped under the radar is the results of China’s Two…
United States and European officials discussed the possibility of completely banning imports of Russian oil. The move, while not a surprise, sent energy prices skyrocketing. Russian crude accounts for 3% of American imports. The U.S. energy complex has seen money flow into the space. These companies are leading options to fill the void of Russia’s…
The pandemic accelerated the corporate world’s digital transformation. Enterprise cloud computing solution provider Salesforce.com (CRM) benefitted from the adoption. However, shares of CRM have fallen 30% from early November peaks. Valuation was a concern as investors headed for the hills in a rising rate environment. CRM saw additional headwinds around fears that orders were being…
The Guns of August is a historical non-fiction novel penned by Barbra Tuchman. It centers around the developments in the month leading up to World War I. It studies the French and German 1914 preparations for a war based on assumptions around the Franco-Prussian War in 1870. What they did not consider was how the…
Russia’s invasion of the Ukraine has changed the tenor of International politics. The transgression marks the biggest military conflict on Europe’s continent since World War II. Over the past 80 years, Europe refrained from arms races following two devastating wars. That may have changed. The European Union took unprecedented action by sending $500 million in…
