By Arsheeya Bajwa and Stephen Nellis (Reuters) –Nvidia forecast fourth-quarter revenue above Wall Street estimates on Wednesday, betting on booming demand for its AI chips from cloud providers against the backdrop of widespread concerns of an artificial-intelligence bubble. The results from the AI chip leader mark a defining moment for Wall Street, as global markets…
By Michael Erman (Reuters) -Bristol Myers Squibb beat Wall Street estimates for third-quarter revenue on Thursday, as strong growth of its cancer immunotherapy and blood thinner Eliquis helped the drugmaker overcome a hit from generic competition for several older drugs. Shares of the company were up 2% in premarket trading. Bristol Myers also raised its…
(Reuters) -Shares in three of the “Magnificent Seven” companies with significant investments in artificial intelligence were mixed in after-hours trade on Wednesday after the mega caps released third quarter earnings. Shares in Google-parent Alphabet rose 6.2% after the company beat Wall Street estimates for third-quarter revenue on Wednesday, as both its core advertising business and…
(Reuters) -Chip design software provider Synopsys missed Wall Street estimates for third-quarter revenue on Tuesday, hurt by weakness in its Design IP business, sending shares down nearly 18.5% after the bell. The segment includes Synopsys’ interface, security and embedded processor intellectual property, along with IP implementation services. The underperformance in the segment was caused by…
A look at the day ahead in European and global markets from Gregor Stuart Hunter Tech stocks are pulling back after Nvidia released earnings that any other CEO would probably kill for. The chip designer and AI bellwether reported a beat to analysts’ estimates and forecast Q3 revenue that was higher than Wall Street estimates….
Disney (DIS) said late Tuesday that ESPN has reached a preliminary agreement with the NFL to acquire media assets including NFL Network, NFL RedZone, and NFL Fantasy in exchange for a 10% equity stake. The new partnership aims to broaden the reach of NFL content through Disney’s expanding streaming footprint. ESPN plans to integrate NFL…