Technology

07 Aug

Super Micro’s Weak Profit Fuels AI Server Margin Anxieties

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Super Micro Computer Inc. fell more than 10% in extended trading after reporting quarterly revenue and profit that missed analysts’ estimates, outweighing an annual sales outlook that was billions above Wall Street projections.Profit, excluding some items, was $6.25 a share in the period ended June 30, the company said Tuesday in a statementBloomberg Terminal. That’s short of Super Micro’s previous forecast and the $8.25 average analyst estimate. Sales were $5.31 billion, compared with an average projection of $5.32 billion, according to data compiled by Bloomberg. Source link lol

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06 Aug

Lumen Technologies Extends Record Rally on AI Hopes

stp2y0 CommentsRAG modelsAMAZON.COM INC, artificial intelligence, Capital Expenditures, Cash Flow, Earnings, JULY SARL/CAEN, LUMEN TECHNOLOGIES INC, MICROSOFT CORP, NVIDIA CORP, Technology, Wall Street

Lumen Technologies Inc. shares surged as much as 93% in post-market trading Tuesday, extending gains after notching a record one-day jump in the regular session.Driving the gains was excitement over artificial intelligence and its ability to translate into results for the company. In earnings released after the bell Tuesday, Lumen raised its forecast for free cash flow for the year, saying it expected between $1 billion and $1.2 billion. Previously, it had forecast free cash flow between $100 million and $300 million. Wall Street analysts covering the company expected the forecast to be about $217 billion, data compiled by Bloomberg…

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06 Aug

Arcadium Lithium Pauses Expansion Plans on Prices, Supply Glut

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Arcadium Lithium Plc will suspend or delay two of its four expansion projects as the global market for the battery metal faces a supply glut and prolonged price slump.The lithium producer plans to pause investment in its Galaxy project in Canada and is exploring the possibility of bringing in a partner for the project, Arcadium said in its second-quarter earnings release on Tuesday. Source link lol

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06 Aug

Fox-Warner-Disney Sports Streamer Should Be Blocked, Fubo Argues

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Fox Corp., Warner Bros. Discovery Inc. and Walt Disney Co. should be barred from forming a joint sports streaming service because it would drive away competitors and force consumers to pay higher prices to watch live events, FuboTV Inc. told a federal judge.Fubo sued the companies in February, arguing the venture would block competitors from offering a product with a package of sports channels only. Fubo claims the three are leveraging their control of the rights to coveted leagues to force rivals to license and distribute dozens of less popular general entertainment channels, if those competitors want to carry networks…

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06 Aug

Ethanol Maker Green Plains Plunges on Bigger-Than-Expected Loss

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Green Plains Inc. shares plunged the most in more than four years as the ethanol producer again disappointed investors with lower-than-expected financial results. The company postedBloomberg Terminal a loss of 38 cents a share for the second quarter, double the average analyst estimate compiled by Bloomberg. Revenue fell 28% from a year earlier amid lower prices for corn-based ethanol and dry distillers grains used in livestock feed. Source link lol

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06 Aug

Could Antitrust Ruling Against Google Bring Breakup of the Company?

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Alphabet Inc.’s Google lost the biggest antitrust challenge it has faced when a US judge found Aug. 5 that it illegally monopolized the search market. It was a major win for the US Justice Department and state attorneys general and could result in the breakup of the 25-year-old company. Judge Amit Mehta of the US District Court for the District of Columbia ruled that $26 billion in payments that Google made to other companies to make its search engine the default option on smartphones and web browsers effectively blocked any other competitor from succeeding in the market. Mehta’s ruling came…

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06 Aug

Amazon’s India Country Chief Is Stepping Down in October

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Amazon.com Inc.’s India chief is leaving “to pursue an opportunity outside of the company,” the e-commerce giant said. Manish Tiwary will depart in October, a spokesperson said in an emailed statement that didn’t name a successor. Amit Agarwal, who led Amazon’s initial push into India and now runs the company’s emerging economies initiative, “will remain closely involved with the Amazon team,” the Seattle-based company said on Tuesday. Source link lol

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06 Aug

Instacart Pushes Overseas With Smart Cart Deal in Austria

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Instacart is making its first international push outside the US and Canada by testing its smart shopping carts in Europe, a move the company said will lay the foundation for growth beyond its core grocery delivery service.Instacart’s high-tech shopping carts, called Caper Carts, will be used in ALDI South Group’s grocery store in Sattledt, Austria, the companies said Tuesday in a statement. The carts — an effort Instacart began through a $350 million acquisition in 2021 — include self-checkout and are equipped with cameras and sensors to detect items. They have been deployed at metro and suburban branches of US…

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06 Aug

China Vanke Sales Slump Extends, Adding to Debt Woes

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China Vanke Co.’s sales slump extended in July, adding to liquidity pressure at the developer that’s become the latest focal point of the nation’s property crisis. Contracted sales for the month slumped 13% from a year earlier to 19.2 billion yuan ($2.7 billion), following a 29.3% slide in June, corporate filings show. The total was 24% lower on month. Source link lol

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06 Aug

Amazon, Microsoft Keep Data Center Spending Spree Going

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Major technology companies are spending billions of dollars in capital expenditure and most of it is going for the same thing. But first... Source link lol

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