Intuit CEO Sasan Goodarzi speaks at the ribbon-cutting ceremony during opening night at Intuit Dome in Los Angeles on Aug. 15, 2024. Amy Sussman | Wireimage | Getty Images Tax and finance software maker Intuit said Wednesday that it’s cutting 17% of its full-time workforce, the latest tech company to announce a mass downsizing during … Read more
A logo of Cloudflare sits outside the company’s house on the opening day of the 55th annual meeting of the World Economic Forum in Davos, Switzerland, Jan. 20, 2025. Yves Herman | Reuters Cloudflare reported first-quarter earnings Thursday that beat analysts’ expectations, but the company announced a 20% reduction in its workforce. Shares sank 16% … Read more
Check out the companies making the biggest moves premarket: Akamai Technologies — Shares surged 27% after the cybersecurity and cloud computing company said a leading U.S.-based frontier model provider has committed to $1.8 billion over seven years for its Cloud Infrastructure Services. Akamai also reported a first-quarter adjusted earnings beat, while its revenue came in … Read more
Check out the companies making headlines after the bell : CoreWeave — The cloud infrastructure company slid about 10% as its second-quarter revenue guidance disappointed Wall Street. CoreWeave sees revenue ranging from $2.45 billion to $2.6 billion. The midpoint of $2.53 billion fell short of the $2.69 billion LSEG consensus call. Gen Digital — The … Read more
Google Cloud CEO Thomas Kurian speaks at the Google Cloud Next event in San Francisco, April 9, 2019. Michael Short | Bloomberg | Getty Images All three top cloud infrastructure providers surpassed analyst estimates in earnings reports late Wednesday, but Google was the standout, generating its fastest growth rate on record. Google is chasing Amazon … Read more
Investor Bill Baruch says he’s buying shares of Arm Holdings , pointing to the semiconductor and software design firm’s recent deal with Meta as a key catalyst as the company pushes deeper into building its own chips. While Arm Holdings has historically only licensed its chip architecture, the company recently shifted its business model to … Read more
Here are Wednesday’s biggest calls on Wall Street: Wells Fargo reiterates Apple as overweight Wells said it’s bullish ahead of earnings later this month. “We’re positive on AAPL i nto F2Q26 earnings (4/30) – iPhone demand holding up better-than-expected / share gains + iPhone 17e ramp; continued double-digit services growth. Reiterated Overweight; $300 PT.” Goldman … Read more
Investors should scoop up shares of Arm Holdings after the company unveiled its first in-house central processing unit chip amid the artificial intelligence data center boom, according to Raymond James. The investment firm upgraded Arm to outperform from market perform. It also set a $166 price target on shares, suggesting 23% upside. “We upgrade Arm … Read more
This report is from this week’s The Tech Download newsletter. Like what you see? You can subscribe here. Banking, payments, enterprise and consumer services in the UAE experienced outages earlier this week as AWS (Amazon Web Services) data centers in the country were hit by Iranian drone strikes on Sunday. Many of the apps have since … Read more
Anthropic’s Tuesday event positioned its products as additive — rather than threatening — to existing software providers. Wall Street sees that helping some stocks in the space. The buzzy artificial intelligence startup announced updates to its Claude Cowork tool aimed at improving office workers’ productivity. Companies can now connect Cowork to platforms such as Google … Read more