Mike Wheatley
Latest from Mike Wheatley
Booming AI chip demand helps Marvell offset alarming revenue declines elsewhere but stock sags
Semiconductor manufacturer Marvell Technology Inc. rode the wave of artificial intelligence demand to deliver solid earnings and revenue in its first quarter, but its stock fell a bit after-hours on a day when many other tech companies saw massive declines. The company reported earnings before certain costs such as stock compensation of 24 cents per ...
MongoDB’s stock tanks on lower guidance
A disappointing forecast for the coming quarter and full year sent database company MongoDB Inc. headlong into a tailspin today, as the value of its stock dropped like a lead balloon in after-hours trading today. The company’s dismal guidance is the latest in a string of subpar financial forecasts from enterprise software vendors. Investors had feared ...
Dell’s stock plummets as rising AI server demand eats away at its gross margin, but AI boosts NetApp
Shares of Dell Technologies Inc. cratered in extended trading today as analysts raised concerns over the impact of rising demand for artificial intelligence servers on the company’s overall profitability. Dell officials said they expect the company’s gross margin to fall by roughly 150 basis points in fiscal 2025, as a result of the increased mix ...
Rising commercial PC sales help HP beat earnings and revenue targets
Personal computer maker HP Inc. delivered a decent earnings and revenue beat today as it revealed its latest financial numbers, sending its stock up by about 2% in the after-hours trading session. The company’s results highlight the ongoing recovery of the global PC market, driven partly by a new generation of so-called AI PCs. HP reported ...
Shares of Nutanix plunge on lower guidance, while Pure Storage jumps on bullish forecast
The fortunes of data center infrastructure providers Nutanix Inc. and Pure Storage Inc. are in stark contrast today, with the companies offering very different outlooks for the current quarter. Nutanix’s shares fell more than 16% after-hours on guidance that came in below Wall Street’s forecasts, while Pure was up by over 9% after posting an ...
UiPath’s stock plummets as CEO Rob Enslin abruptly resigns and guidance disappoints
Updated with Thursday stock price: Shares of the automation software company UiPath Inc. were battered in after-hours trading today and were falling more than 35% Thursday after it shocked investors with a surprise leadership change and followed up with poor guidance. The company said Chief Executive Rob Enslin (pictured) will resign, effective June 1. He will be replaced ...
Harness acquires Split Software to enable feature flag experimentation in software workflows
Continuous software delivery startup Harness Inc. said today it has entered into a definitive agreement to acquire a rival company called Split Software Inc., which specializes in feature flag management and experimentation. Harness said it intends to integrate Split’s capabilities into its own platform, so its customers will be able to experiment and deploy new features ...
Scale AI publishes its first LLM Leaderboards, ranking AI model performance in specific domains
Artificial intelligence training data provider Scale AI Inc., which serves the likes of OpenAI and Nvidia Corp., today published the results of its first-ever SEAL Leaderboards. It’s a new ranking system for frontier large language models based on private, curated and unexploitable datasets that attempts to rate their capabilities in common use cases, such as ...
ECL makes first delivery of its sustainable, modular data center that can be deployed anywhere
Data center-as-a-service startup ECL said today it has closed on a $10 million investment from Hyperwise Ventures. The funding came as the company, incorporated at Edge Cloud Link Inc., unveiled the first delivery of its modular, off-the-grid data center that’s powered entirely by hydrogen. ECL said the funds from today’s round will be used to accelerate ...
Box beats targets on earnings, but light guidance holds stock price in check
Cloud content management company Box Inc. delivered a comfortable earnings and revenue beat today, increasing its profitability, but the results failed to impress investors all that much, as its stock was flat after-hours. The company reported first-quarter earnings before certain costs such as stock compensation of 39 cents per share, just ahead of the Street’s ...