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Wall Street set for lower open as growth stocks fall
... season has been better than expected so far. Among the 275 companies in the S&P 500 that have reported earnings until Friday, 80.4% have surpassed Wall Street's expectations. Drugmakers Pfizer Inc and Moderna Inc, coffee chain Starbucks Corp , chipmaker Advanced Micro Devices Inc and breakfast cereal maker Kellogg Co are some of the companies reporting results this week. Activision Blizzard climbed 2.6% after Warren Buffett said Berkshire Hathaway Inc has taken a 9.5% stake in the game maker, Call of Duty. Occidental ...
Updated: 05/02/2022
Intel forecasts lower 2q revenue, profit below Street estimates
... current-quarter adjusted profit of 70 cents per share on revenue of about $18 billion, less than analysts' average estimate of 83 cents per share on $18.38 billion. Intel is facing increasing competition in the data center space, as peers Nvidia Corp and Advanced Micro Devices are ramping up their chip production to cater to the booming market, due to growth in the metaverse, AI applications and cloud computing. In the quarter, revenue from Intel's higher-margin data center and AI business rose 22 per cent to $6 billion,...
Updated: 04/28/2022
S&P 500 and Amazon climb as Meta Platforms offset growth fears
... 500 reporting results through Thursday beating Wall Street expectations. Typically, only 66% of companies beat estimates. After the chipmaker predicted third-quarter revenue above analyst expectations, Qualcomm Inc jumped 5%. Peers Nvidia Corp and Advanced Micro Devices Inc. AMD.O climbed more than 1% each. Caterpillar Inc fell 4.8% as it indicated that profit margins in the current quarter were likely to be pressured by surging costs, while Amgen Inc fell 5.4% after the U.S. Internal Revenue Service is seeking ...
Updated: 04/28/2022
As Intel, Qualcomm and others report, lower prices for graphics chip
... machines, is spreading to other applications, as a result of the drop in prices of these units. After prices dropped, analysts at Baird downgraded GPU maker Nvidia to neutral. The stock of Nvidia has fallen about 31 per cent this year, while the rival Advanced Micro Devices has fallen 37 per cent compared to a 22 per cent drop on the Philadelphia SE Semiconductor Index. Both companies didn't want to say anything. GPU prices are still being sold at a premium, but a smaller one. Christopher Rolland, a Susquehanna analyst,...
Updated: 04/25/2022
Graphic chip price drop raises questions on whether end of shortage is in sight
... of a drop in prices of gaming machines, which are the brains of gaming machines, and are spreading to other uses. After prices dropped, analysts at Baird downgraded GPU maker Nvidia to neutral. The Nvidia stock is down about 31% this year, and rival Advanced Micro Devices has fallen about 37% compared to a 22% drop on the Philadelphia SE Semiconductor Index. Both companies didn't want to say anything. GPU prices are still being sold at a premium, but a smaller one. Susquehanna analyst Christopher Rolland said earlier ...
Updated: 04/25/2022
AMD returns to dealmaking playbook with Pensando
Advanced Micro Devices Inc. plans to buy chip and software startup Pensando Systems Inc. for $1.9 billion, returning to the acquisition playbook shortly after closing its biggest-ever transaction eclipse. Advanced Micro Devices Inc. plans to buy chip and software ...
Updated: 04/05/2022
AMD Buys Pensando to Buy Data Center Chips
Bloomberg- Advanced Micro Devices Inc. is acquiring closely held Pensando Systems Inc. to add chips and software used to route information inside computer systems. Bloomberg- Advanced Micro Devices Inc. is acquiring closely held Pensando Systems Inc. to add chips and software ...
Updated: 04/04/2022
AMD to buy cloud company Pensando for $1.9 billion
... signs of AMD at the China Digital Entertainment Entertainment Entertainment Expo and Conference, also known as ChinaJoy, in Shanghai. There are signs of AMD at the China Digital Entertainment Expo and Conference, also known as ChinaJoy, in Shanghai. Advanced Micro Devices said on Monday it would acquire cloud company Pensando for $1.9 billion to bolster its data center products and capitalize on booming demand from cloud and enterprise sectors. AMD said that the deal value does not include working capital and ...
Updated: 04/04/2022
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