Mike Wheatley
Latest from Mike Wheatley
Box shares move higher as earnings and revenue top forecasts
Cloud content management provider Box Inc. beat expectations today as it reported its fiscal first-quarter results, sending its stock higher in after-hours trading, despite lowering its full-year guidance slightly. The company reported earnings before certain costs such as stock compensation of 32 cents per share, resulting in a net profit of $3.7 million. Revenue rose ...
As traditional revenue streams dry up, both HPE and HP target AI-driven growth
Hewlett Packard Enterprise Co. and HP Inc. delivered mixed second-quarter financial results today as they both continue to navigate a tough economy that has soured demand for the servers, personal computer, storage and printer products they make. In the case of HPE, today it reported net income of $418 million in the quarter, up from a ...
Nvidia launches GH200 Superchip to accelerate generative AI workloads
Nvidia Corp. announced early Monday that its most powerful artificial intelligence chip yet, the GH200 Grace Hopper Superchip, is now in full production. The Nvidia GH200 Superchip (pictured) has been designed to power systems that will run some of the most sophisticated and complex AI workloads yet, including training the next generation of generative AI models. ...
US slams China’s ban on buying Micron chips as ‘economic coercion’
U.S. Commerce Secretary Gina Raimondo said late Saturday that her country “won’t tolerate” China’s recent ban on the purchase of memory chips from Micron Technology Inc. and added that the U.S. government is working closely with its allies to counter what she termed “economic coercion.” Raimondo (pictured) was speaking at a news conference after a meeting of trade ...
No deal: New Relic ends talks with private equity firms over leveraged buyout
Talks on a possible acquisition of New Relic Inc. by the private equity firms Francisco Partners Management LP and TPG Inc. have reportedly broken down. A report Friday by Reuters that cites people familiar with the matter said the two suitors were unable to secure enough debt financing and failed to meet New Relic’s valuation ...
Shares of Marvell jump sky-high as it forecasts AI chip revenue to double
Updated: Marvell Technology Inc. topped expectations in its fiscal first-quarter financial results today and said it’s expecting revenue from artificial intelligence to at least double this year, sending its stock sky-high in extended trading. The company reported a net loss for the first quarter of $168.9 million, with earnings before certain costs such as stock ...
Strong earnings beat sends Workday’s stock higher
Human resources software pioneer Workday Inc. beat expectations in its fiscal first-quarter financial results today and hired a new chief financial officer, sending its stock higher in extended trading. The company reported a net profit of $136,000 for the quarter, working out at less than a penny a share. Earnings before certain costs such as ...
UiPath’s stock gets hammered on soft revenue guidance
Business automation software company UiPath Inc. reported a strong earnings and revenue beat only to see its shares get creamed in extended trading after it issued a tepid forecast for the current quarter. The soft revenue forecast for the second quarter prompted a big selloff of its stock, which dropped more than 8%. The company ...
Snowflake’s stock falls on guidance miss, as it confirms plans to acquire Neeva
Shares of the cloud data warehouse company Snowflake Inc. sank in extended trading today after the company slashed its full-year outlook, sparking concerns about its exposure to reduced enterprise technology spending. Snowflake did at least beat expectations as it delivered its first quarter financial results. It also announced its previously reported intention to acquire the ...
Nvidia’s stock soars 26% on strong sales forecast amid surging demand for AI chips
Chipmaker Nvidia Corp. comfortably beat expectations as it posted its fiscal first-quarter results today, before delivering a revenue forecast that blew Wall Street’s projections out of the water, sending its stock up an incredible 26% in trading Thursday. The company reported net income for the quarter of $2.04 billion, up from the $1.62 billion profit ...