Meta Platforms Stock Soars 20% After Initiates Dividend, Strong Engagement Trends

Social media beast Meta Platforms, owner of Facebook shares soared around 20% after earnings beats by $0.51, beats on revs and guiding Q1 revs above consensus. Meta Initiated a quarterly dividend of $0.50/share and also announced a $50 billion increase to share repurchase program. The company said it is experiencing strong engagement trends across apps and capex growth will be driven by investments in servers and data centers as it invests in AI. All the bad was forgiven at the … Continue reading “Meta Platforms Stock Soars 20% After Initiates Dividend, Strong Engagement Trends”

US Weekly IPO and SPAC Monitor: Linkage Global and Aspen Holdings

The year is winding down and an already quiet IPO market is but a trickle. We had just the one listing, Japanese e-commerce firm Linkage Global (LGCB) priced at the low end to raise $6 million at an $86 million market cap. Linkage Global finished down 49%. There were a number of new filings getting in before the end of the year. The standout was specialty insurer Aspen Holdings (AHL.RC) which filed for an estimated $500 million raise. There is … Continue reading “US Weekly IPO and SPAC Monitor: Linkage Global and Aspen Holdings”

New China Draft Rules for Online Gaming Send Chinese Stocks Sharply Lower

Chinese gaming stocks are sharply lower Friday after the Chinese government announced new draft rules for online gaming industry. Tencent’s stock fell -12.35% to HK$274, NetEase dumped -24.60% to HK$122, and Bilibili (BILI) fell around 10% on the Hong Kong Stock exchange. The stocks continued to slide heading into the US opening. Netease fell to 81.69 -22.72 (-21.76%) Pre-Market. BILI 10.32 -1.25 (-10.80%) Pre-Market. The new rules are aimed curbing the amount of money and time players spend playing the … Continue reading “New China Draft Rules for Online Gaming Send Chinese Stocks Sharply Lower”

US Weekly IPO and SPAC Monitor: Renewable Energy Provider SinglePoint, Obesity Focused Fractyl Health

Heading into year end all things are quiet on the IPO front. We saw two smaller IPO price this week, along with one SPAC that began trading. China-based ZKH Group (ZKH) priced at the low end to raise $62 million at a $2.6 billion market cap. ZKH Group finished flat. SinglePoint (SING) uplisted to the BZX after raising $4 million at a $31 million market cap. It finished down 43%. Steel framing manufacturer INNO HOLDINGS (INHD) also began trading after … Continue reading “US Weekly IPO and SPAC Monitor: Renewable Energy Provider SinglePoint, Obesity Focused Fractyl Health”

Cisco Buys Machine Learning Data Specialist Splunk for $28 Billion

Machine data analytics specialist Splunk shares jumped more than 21% in pre-market trading Thursday, after Cisco Systems Inc. agreed to buy Splunk Inc. for $157 a share in cash in a deal valued at about $28 billion. The price is a 31% premium to Splunk’s previous closing price on Wednesday. The deal value represents around 10% of Cisco’s market value. The deal is CSCO’s biggest acquisition ever and a massive push into software and artificial intelligence-powered data analysis. The SPLK … Continue reading “Cisco Buys Machine Learning Data Specialist Splunk for $28 Billion”

Amazon Stock Surges 8% After Blow Out Earnings and Raised Guidance

Retail monster Amazon.com reported much stronger June quarter revenue Thursday and raised guidance for Q3 sending the shares sharply higher. It was Amazon’s biggest earnings beat since Q4 2020 with the ongoing cost-cutting improving margins. Amazon was the last of the mega-cap tech companies to report, following Netflix, Microsoft, Apple, Intel, Meta and Alphabet. AMZN reported net income of $6.7 billion, or 65 cents a share, after recording a loss of $2 billion, or 20 cents a share, a year earlier. The year-ago loss was … Continue reading “Amazon Stock Surges 8% After Blow Out Earnings and Raised Guidance”

Apple Stock Trades 7% Lower from Record High After Earnings with Disappointing iPhone Sales

Consumer electronics giant Apple stock slumped 4.8% Friday after earnings, down 7.1% for the week (largest since November) after $AAPL closed Monday traded at an all-time high $198.23, at that point with a year-to-date return of 51.6%. The company Thursday reported fiscal Q3 Net Income of $19.881 billion, up 2% vs. Q3 2022. Revenues were down slightly year on year. The stock closed the week with a price-to-earnings ratio of 30.59. AAPL reported better than expected EPS and revenue for … Continue reading “Apple Stock Trades 7% Lower from Record High After Earnings with Disappointing iPhone Sales”

DoubleVerify Stock 14% Lower After Second Quarter Earnings and Scibids Acquistion Deal

Ad verification company DoubleVerify (NYSE: DV) announced Tuesday after the market close better than expected second quarter earnings and that it has entered into an agreement to acquire French AI-powered adtech firm Scibids Technology sas in a cash and stock deal valued at $125 million. Scibids builds AI that automates and optimizes an advertiser’s programmatic buying of digital ad campaigns. DV second quarterly earnings were $0.07 per share, which beat the consensus of $0.06. DV reported quarterly sales of $133.74 … Continue reading “DoubleVerify Stock 14% Lower After Second Quarter Earnings and Scibids Acquistion Deal”

Ad Verification Specialist DoubleVerify to Acquire French AI Firm Scibids

Ad verification company DoubleVerify announced along with it’s second quarter earnings it has entered into an agreement to acquire French AI-powered adtech firm Scibids Technology sas in a cash and stock deal valued at $125 million. The move follows the partnership formed in June this year to launch the “DoubleVerify Algorithmic Optimizer.” Scibids’ AI algorithm were matched with DoubleVerify’s media quality and ad performance data to optimize advertising campaigns. The deal is a natural progression from the partnership. DoubleVerify enables … Continue reading “Ad Verification Specialist DoubleVerify to Acquire French AI Firm Scibids”

Microsoft Lower on Artificial Intelligence Growth Not Until Next Year

Software giant Microsoft reported weaker than expected June 2022 (Q4F23) quarterly earnings Tuesday, MSFT also issued worse-than-expected quarterly revenue guidance. The company made $56.2 billion in revenue and a net income of $20.1 billion during Q4. Microsoft’s cloud businesses are really driving the company’s revenue. Windows and devices revenue have been hit hard again this quarter, but Xbox has rebounded on the content side. Microsoft’s cloud, office, and server businesses continue to make up for a weaker PC market. Investors … Continue reading “Microsoft Lower on Artificial Intelligence Growth Not Until Next Year”