Artificial intelligence software company C3.ai beat analyst expectations for the Q2 fiscal FY2023 quarter, with revenue up 7% year-over-year to $62.41 million. However, AI is still running with large losses and its growth has stagnated. For Q2 2023, bookings were down 14% y/y. while bulls cite the large amount of cash on hand it is the burn rate that is of concern and explains much of why the stock is down over 90% from its highs. AI stock traded at … Continue reading “C3.ai Beat Analysts Revenue Targets but AI Cash Burn Rate Worries Remain”
Intel Earnings Beat Lowered Expectations and Announces $10 billion in Cost Cuts
Semiconductor giant Intel stock plunged after another dismal earnings report and guidance cut. INTC reported adjusted second-quarter earnings of 29 cents a share, compared with $1.36 a share from a year ago. Intel is the 2nd heaviest weight in the SMH ETF and had been bid up prior to the report after the passing of the CHIPS and Science Act aimed at boosting US chip production. The offers more than $52 billion for US chipmakers as well as tax credits for domestic … Continue reading “Intel Earnings Beat Lowered Expectations and Announces $10 billion in Cost Cuts”
Artificial Intelligence Software Company C3.ai Stock AI Falls 15% After Misses Earnings, Slashes Guidance
Artificial intelligence software company C3.ai missed analyst expectations in Q1 FY2023 quarter, with revenue up 24.6% year on year to $65.3 million. Guidance for the next quarter also missed analyst expectations with revenues guided to $61 million at the midpoint, or 14.9% below analyst estimates. C3.ai made a GAAP loss of $71.8 million, down on its loss of $37.4 million, in the same quarter last year. AI stock traded at 15.20 down $2.80 or 15.56% After Hours C3.ai Q1 2023 … Continue reading “Artificial Intelligence Software Company C3.ai Stock AI Falls 15% After Misses Earnings, Slashes Guidance”
Intel Misses Earnings Slashing Guidance as Margins and Data Center Revenue Plunge
Semiconductor giant Intel stock plunged after another dismal earnings report and guidance cut. INTC reported adjusted second-quarter earnings of 29 cents a share, compared with $1.36 a share from a year ago. Intel is the 2nd heaviest weight in the SMH ETF and had been bid up prior to the report after the passing of the CHIPS and Science Act aimed at boosting US chip production. The offers more than $52 billion for US chipmakers as well as tax credits for domestic … Continue reading “Intel Misses Earnings Slashing Guidance as Margins and Data Center Revenue Plunge”
Market Savages Unity Software Merger with App-Monetization Platform Provider ironSource
Unity Software has agreed to an all-stock merger deal, valuing ironSource at roughly $4.4 bln, a 74% premium to the 30-day average exchange ratio, ironSource $IS was up 51% from the previous day close, though still trades around 75% below record highs set in September. Unity is trading at 8x forward sales, the company operates in priced-to-perfection territory given the current rising-rate environment. The market took harshly to the deal knocking $U down -17% to near the all-time lows seen … Continue reading “Market Savages Unity Software Merger with App-Monetization Platform Provider ironSource”
Zendesk Closes $10.2 billion All-cash Acquisition After Soared Over 60 percent on Buyout Deal Talk
Zendesk closed a $10.2 billion all-cash acquisition deal with a group of buyout firms led by Hellman & Friedman LLC and Permira as rumored Thursday after market. Under the terms of the agreement, Zendesk stockholders will receive $77.50 a share, a roughly 34% premium to Thursday’s closing price of $57.95. Premarket $ZEN soared as high as $91, the stock had soared after hours Thursday after the WSJ reported that it was “close to a deal with a group of buyout … Continue reading “Zendesk Closes $10.2 billion All-cash Acquisition After Soared Over 60 percent on Buyout Deal Talk”
Intel Sees Macro Environment Weaker Than Anticipated, Hitting Demand for Chips
Semiconductor giant Intel, the 2nd heaviest weight in the SMH ETF presented a negative outlook at the Bank of America Global Technology Conference late Tuesday after the market had closed. The company’s CFO, David Zinsner, said that the macro environment is weaker than Intel anticipated coming into the quarter. Accordingly, he expects customers to reduce inventory levels, negatively impacting demand for INTC’s chips. Recall when INTC reported Q1 earnings on April 28, it issued downside Q2 EPS and revenue guidance … Continue reading “Intel Sees Macro Environment Weaker Than Anticipated, Hitting Demand for Chips”
SoFi Pays $1.1 Billion for Banking Software Infrastructure Firm Technisys
In an all-stock deal SOFI hoping to revamp the student lender into a full-service bank. SoFi Technologies (SOFI) is acquiring banking-software maker Technisys SA for about $1.1B in an all-stock deal. SOFI is trading $11.39▼ 0.79 (-6.49%) pre-market. SoFi Technologies Inc. is buying banking-software maker Technisys SA for about $1.1 billion, the latest in a string of deals designed to transform the lender into a one-stop financial shop. Last month, the company received an approval to become a national bank through its proposed acquisition of Golden Pacific … Continue reading “SoFi Pays $1.1 Billion for Banking Software Infrastructure Firm Technisys”
First Data Customer Engagement Platform Braze Goes Public, From AppBoy To BRZE
Customer engagement Braze Inc $BRZE targeted a $55 to $60 per-share IPO price range and priced at the high end of $65 per share. The stock opened 34% over the deal cost in their market debut on Wednesday, getting a valuation of almost $8 billion. The stock closed at $93.39 on day one. Customer engagement platform Braze (BRZE) Founder-led Braze provides a customer engagement platform used by businesses to improve their marketing. Braze says its foundation permits its customers to improve comprehension … Continue reading “First Data Customer Engagement Platform Braze Goes Public, From AppBoy To BRZE”
Brazilian Engineering Software Provider CI&T IPO Debuts on NYSE
Brazilian based CI&T, a global digital native specialist, and end-to-end digital transformation partner providing strategy, design and software engineering services to some of the world’s leading brands went public as $CINT on the NYSE closing up 20%