Wall Street - CybAI news

15 Aug

Alphabet Shares Face Months of Uncertainty on New Breakup Risk

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Alphabet Inc. investors are facing a long period of uncertainty as they grapple with a scenario they previously saw as unlikely: a possible breakup of Google.A bid to break up Google is being considered by the Justice Department, Bloomberg News reported Tuesday, with the most likely units for divestment the Android operating system and the Chrome web browser. The news surprised Wall Street, which had seen a breakup as unlikelyBloomberg Terminal even after a federal judge ruled earlier this month that Google has illegally monopolized the search market. Source link lol

09 Aug

Expedia Warns of Soft Demand Even as It Posts an Earnings Beat

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Expedia Group Inc. posted better-than-expected second-quarter results while warning of “softening” travel demand in the current quarter, leading it to adjust its expectations for the rest of the year. Gross bookings across Expedia’s platforms, which include flight reservations, hotel stays, car rentals activities and vacation rentals, increased 6% to $28.8 billion in the three months ended June 30, the company said Thursday in a statementBloomberg Terminal. Wall Street was expecting $28.6 billion, according to data compiled by Bloomberg. Source link lol

09 Aug

Tech Founders and Investors Confront a Wave of AI Skepticism

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One early AI leader thinks we may be entering a “sobering” moment. Source link lol

08 Aug

Paramount Takes $6 Billion TV Network Charge, Joins Warner Bros.

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Paramount Global, the parent of Nickelodeon, MTV and other channels, took a second-quarter impairment charge of $5.98 billion on its cable networks, in yet another sign of weakness in the traditional TV industry.The company made the decision after reevaluating the businesses in light of declining profit projections, shifts in the cable-TV subscriber marketplace and the recently agreed-to merger with Skydance Media, according to a statement Thursday. Source link lol

08 Aug

Travel Startup Flyr Raises $295 Million in Equity and Debt

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Flyr, a travel startup that provides software to companies including JetBlue Airways Corp., has raised $295 million in equity and debt in a new funding round. The deal, led by WestCap, values the startup at $900 million, according to a person familiar with the matter who asked not to be identified discussing private information. Other investors included BlackRock funds, Streamlined Ventures and a subsidiary of the Abu Dhabi Investment Authority. The financing represents $225 in equity and $70 million in debt, and brings the startup’s total investment haul to $500 million. Source link lol

08 Aug

Nvidia Has Lost $900 Billion Even as AI Spending Plans Ramp Up

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On the surface, Nvidia Corp.’s $900 billion selloff since its June record would suggest the artificial intelligence spending boom that propelled it there is cooling. But the undercurrents tell a far less dire story.Microsoft Corp., Amazon.com Inc., Alphabet Inc. and Meta Platforms Inc. — together accounting for more than 40% of Nvidia’s revenue — have all said they will keep investing billions into AI infrastructure. Meanwhile, Super Micro Computer Inc. — which makes data center servers used in AI — told investors it expects to generate up to $30 billion in sales over the next year, blowing away analyst expectations.…

07 Aug

Gig Economy Emerges as a Bright Spot Amid Gloomy Tech Earnings

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It has been a tough earnings seasonBloomberg Terminal for the technology industry, and markets more broadly.Big Tech companies failed to convince Wall Street that their massive investments in artificial intelligence are paying off. Growth in their core businesses underwhelmed. Their results, combined with broader concerns about the health of the US economy, triggered a meltdown that, at one point, had erased some $6.4 trillion from global stock markets. Source link lol

07 Aug

Warner Bros. Takes $9.1 Billion Writedown on TV Networks

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Warner Bros. Discovery Inc., the parent of CNN and TNT, posted a second-quarter charge of $9.1 billion after writing down the value of its traditional TV networks.The company, created in 2022 when Discovery Inc. acquired WarnerMedia, has concluded that cable channels like CNN and TNT are no longer worth what they were when the $42 billion merger was completed. Source link lol

07 Aug

Shares of Bumble Tank Following Poor Annual Revenue Outlook

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Shares of Bumble Inc. plunged after the dating-app company slashed its annual revenue outlook. Annual revenue will grow between 1% and 2% from the previous year. The company had previously forecast growth between 8% and 11%. Wall Street was expecting an 8.4% gain, per Bloomberg-compiled estimates. Source link lol

07 Aug

T-Mobile Postpones $561 Million Wireless Equipment ABS Offering

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T-Mobile US Inc. is postponing its sale of more than $500 million in asset backed securities supported by wireless equipment plans, according to people familiar with the matter.The deal, which began premarketingBloomberg Terminal last week, was set to price this week, according to an earlier message to investors. T-Mobile’s postponement marks the first notable indication of stress in the ABS market following elevated volatility this week. A maelstrom of economic indicators showing slowing growth, weak earnings from technology companies and a rate hike from the Bank of Japan damaged broader markets and caused Wall Street’s fear gauge to spikeBloomberg Terminal…