Marvell Technology Group Ltd. headquarters in Santa Clara, California, on Sept. 6, 2024. David Paul Morris | Bloomberg | Getty Images Marvell Technology, a chipmaker that makes several different parts and products needed for the artificial intelligence infrastructure boom, is joining the S&P 500 on June 22, becoming the latest semiconductor company to be added …
Artificial intelligence is set to upend the gaming industry. Advances in generative AI could cut the cost of developing new games in half, according to a research report out Tuesday from Morgan Stanley. That would create a $22 billion profit opportunity for companies. But it’s not all good news for video game makers. While lower …
Check out the companies making the biggest moves in midday trading: Meta Platforms — The social media giant tumbled more than 6%. Meta lost two major legal cases concerning child safety this week. While the financial penalties aren’t large relative to the company’s size, Meta’s losses in court raise questions around Big Tech’s role in …
Artificial intelligence names have become some of the most widely embraced stocks among professional investors, with several AI-linked companies seeing the biggest jump in ownership by active U.S. equity mutual funds in the past year, Bank of America found. The bank’s latest analysis of portfolio holdings found that technology firms tied to the AI boom …
Palantir was an outlier in a tough week for the stock market, as the provider of software and services to the U.S. government saw its stock rally 15% following the U.S. attack on Iran. The tech-heavy Nasdaq fell 1.2% for the week, pushed lower by names like Apple, Google and Micron, and other benchmarks tumbled …
A month ago, we discussed with Pro readers how to trade the sell-off in software . That strategy has worked, and we are exiting positions in the IGV Software ETF on this rally. As of now our targets are being met and it’s time to lighten up. Will we look back and question ourselves and …
Feeling lucky on Friday the 13 th ? It is time to dive into the pungent software dumpster. The sell-off in the iShares Expanded Tech-Software Sector ETF (IGV) has been arguably one of the most severe in the software sector’s history outside of major recessions or crashes like 2008 and 2022. I want to use …
Check out the companies making the biggest moves in midday trading: Crocs — Shares of the clogs manufacturer surged 21% after Crocs reported upbeat guidance for the current quarter. The company sees adjusted earnings ranging from $2.67 to $2.77 per share, surpassing the FactSet consensus call for $2.52 per share. The earnings outlook for the …
Check out the companies making the biggest moves in premarket trading: Restaurant Brands — Shares gained 1.3% following the Burger King parent’s beat on the top and bottom lines . Restaurant Brands reported fourth-quarter earnings of 96 cents per share, 1 cent higher than expected, per LSEG. Revenue came in at $2.47 billion, beating the …
Check out the companies making headlines after hours. Cisco Systems — The maker of networking hardware such as switches and routers dropped about 7% after posting non-GAAP gross margin of 67.5%, a little below the 68.1% estimate, according to LSEG. Otherwise, Cisco posted second-quarter results that exceeded estimates on the top and bottom lines. The …