Palo Alto Networks (PANW) showed an impressive 6.9% increase in weekly gains. The cybersecurity giant experienced a significant surge on Wednesday, with a 3.57% jump following a positive note from Morgan Stanley before their quarterly earnings release. The stock received further momentum on Thursday due to news of an expanded partnership with IBM. Despite its
Earnings
The recent stock market trends have been influenced by softer retail sales and consumer price data for April. Despite weaker-than-expected reports, Wall Street has viewed this as positive news, as it indicates further disinflation. This is significant as it plays a key role in the Federal Reserve’s potential decision to cut interest rates in 2024.
On Friday, U.S. stocks remained relatively flat, following a session where the Dow surpassed the 40,000 mark for the first time. While the Nasdaq Composite and S&P 500 reached intraday records on Thursday, they experienced a slight decline by the end of the day. Jim Cramer described the current market as “muted,” highlighting the lack
Siemens, a leading German technology company, recently announced a decrease in profit for its industrial business during the fiscal second quarter. The company’s industrial profit fell to 2.51 billion euro, a 2% decline compared to the same period last year. This drop was unexpected as analysts had forecasted a higher profit of 2.68 billion euro.
Cisco reported earnings and revenue for the fiscal third quarter that exceeded Wall Street’s expectations. Despite a drop in sales from the previous year, the company’s stock saw an 8% increase in extended trading. The earnings per share stood at 88 cents, beating the expected 82 cents, while revenue reached $12.7 billion compared to the
Alibaba recently reported a significant drop in net profit during the fiscal fourth quarter, causing its shares to plummet. The Chinese giant’s revenue for the quarter stood at 221.9 billion yuan ($30.7 billion), slightly exceeding the LSEG consensus estimates of 219.66 billion yuan. However, the net income attributable to ordinary shareholders saw an alarming 86%
Tencent has surpassed analyst expectations with its impressive revenue and profit figures for the first quarter of the year. The Chinese tech giant reported revenue of 159.5 billion Chinese yuan ($22 billion), outperforming the expected 158.4 billion yuan. Additionally, the profit attributable to equity holders of the company stood at 41.9 billion yuan, well above
SoftBank recently made headlines by posting a 724.3 billion Japanese yen ($4.6 billion) gain on its Vision Fund in the fiscal year ended March. This marks a significant milestone for the flagship tech investment arm as it has not been in the black since 2021. The Vision Fund segment of SoftBank recorded a profit of
The landscape of the semiconductor industry is rife with cutthroat competition, with companies vying for market share and technological supremacy. Semiconductor Manufacturing International Corporation (SMIC) recently issued a warning about the intense competition in the chip industry after its first-quarter profit failed to meet expectations. The pricing for commodity products is dictated by market trends,
Warner Bros. Discovery’s first-quarter results fell short of analyst expectations, with a loss per share of 40 cents compared to an expected loss of 24 cents. Revenue also missed estimates, coming in at $9.96 billion versus the expected $10.231 billion. The company saw a 7% decline in revenue compared to the same quarter last year,