Blog & News List
Indian IT firm Coforge's Q4 revenue just short of estimates, contract wins double
BENGALURU (Reuters) - Indian IT company Coforge reported a marginally smaller-than-expected fourth-quarter revenue on Thursday amid overall tepid tech spending from clients. WHY IT'S IMPORTANT India's $254 billion IT sector has been struggling in r...
7h ago
Israeli cyber startup Apex gets initial investment from OpenAI's Altman
By Steven Scheer JERUSALEM (Reuters) - Israeli cyber security start-up Apex, which focuses on protecting the rapid use of artificial intelligence (AI) tools, said on Thursday it received an undisclosed investment from OpenAI Chief Executive Sam Alt...
7h ago
Freshworks plunges after cutting annual revenue forecast, CEO transition
(Reuters) - Freshworks' shares plunged nearly 30% in premarket trading on Thursday after the CRM software maker cut its full-year revenue forecast and named a new CEO. The company now expects annual revenue between $695 million and $705 million, co...
8h ago
Ametek beats profit estimates on strong demand from aerospace, defense sectors
(Reuters) - Industrial technology solutions provider Ametek beat estimates for first-quarter profit on Thursday, as it benefited from a boom in the aerospace and defense sectors. Robust air travel demand and simmering geopolitical tensions have dri...
8h ago
Nigeria court adjourns Binance and execs trial to May 17
By Camillus Eboh ABUJA (Reuters) - A Nigerian court on Thursday adjourned a money laundering trial against cryptocurrency exchange Binance and two of its executives to May 17 after a lawyer for the exchange said he had not been served with document...
8h ago
Qualcomm jumps as AI sparks rebound in Chinese smartphone market
(Reuters) - Qualcomm shares rose 4% in premarket trading on Thursday after the smartphone-focused chipmaker signaled an AI-fueled rebound in demand, especially in China, after a two-year slump. Sales to Chinese smartphone makers jumped 40% in the f...
8h ago
Google faces closing arguments in US market power trial
WASHINGTON (Reuters) - The U.S. government will layout its antitrust case against Alphabet's Google in closing arguments on Thursday, wrapping up a trial in which the online search leader is accused of breaking the law to stay on top. The U.S. gove...
10h ago
Chip parts supplier Siltronic's profit falls on high client inventories
(Reuters) - German chip equipment supplier Siltronic reported a 27.5% drop in first-quarter core profit on Thursday, a week after it slashed annual targets due to customers' still high inventories. The company, which makes silicon wafers used in se...
14h ago
US official urges China, Russia to declare only humans, not AI, control nuclear weapons
By Greg Torode HONG KONG (Reuters) - A senior U.S. official on Thursday urged China and Russia to match declarations by the United States and others that only humans, and never artificial intelligence, would make decisions on deploying nuclear weap...
15h ago
Microsoft to invest $2.2 billion in Malaysia's digital transformation
KUALA LUMPUR (Reuters) - Microsoft will invest $2.2 billion over the next four years in Malaysia to support the country's digital transformation, the company said in a statement on Thursday. (Reporting by Danial Azhar and Rozanna Latiff; Editing b...
16h ago
Japan's Mitsubishi full-year profit down 18%, misses estimates
TOKYO (Reuters) - Japanese trading house Mitsubishi Corp posted on Thursday a 18.4% fall in net profit for the year ended in March to 964 billion yen ($6.2 billion), missing estimates. A LSEG poll of analysts had forecast Mitsubishi's net profit fo...
16h ago
Nvidia supplier SK Hynix says HBM chips almost sold out for 2025
ICHEON, South Korea (Reuters) - South Korea's SK Hynix said on Thursday its high-bandwidth memory (HBM) chips used in AI chipsets are almost sold out for 2025, after their 2024 chips were fully booked. Chief Executive Officer Kwak Noh-Jung said the...
17h ago
Cognizant first-quarter revenue beats estimates on steady spending by clients
(Reuters) - Cognizant Technology Solutions beat Wall Street estimates for first-quarter revenue on Wednesday, helped by steady spending by clients, sending its shares up more than 4% in aftermarket trading. Signs of improving business environment a...
21h ago
PTC forecasts quarterly revenue below estimates
(Reuters) - Industrial software maker PTC forecast quarterly revenue below estimates while also slightly tightening full year guidance on Wednesday, signaling continued weakness in demand for its industrial design and testing software as companies ...
21h ago
Freshworks names Dennis Woodside as CEO, shares tumble
(Reuters) - Freshworks said on Wednesday that Dennis Woodside will take over as CEO of the CRM software maker, and founder Girish Mathrubootham will be the firm's executive chairman. Shares of the San Mateo, California-based company fell about 21% ...
21h ago
Paycom forecasts Q2 revenue below estimates
(Reuters) - Paycom Software on Wednesday forecast second-quarter revenue below market estimates, hit by sluggish demand for payroll and human resource management solutions. Sticky inflation and high borrowing costs have clouded the payroll processo...
21h ago
Qorvo forecasts quarterly results below estimates on weak flagship smartphone market
(Reuters) - Wireless connectivity chipmaker Qorvo forecast first-quarter revenue and profit below Wall Street estimates on Wednesday as it expects weak demand from flagship smartphone market, sending shares down more than 11% in aftermarket trading...
21h ago
Etsy misses first-quarter sales, profit estimates on lower discretionary demand
(Reuters) - Etsy missed Wall Street expectations for first-quarter gross merchandise sales (GMS) and profit on Wednesday, hurt by lower demand for its handcrafted goods and personalized gifts at its online marketplace. WHY IS IT IMPORTANT? Despite ...
22h ago
Chipmaker Wolfspeed forecasts quarterly revenue below estimates as EV sales growth slows
(Reuters) - Chipmaker Wolfspeed forecast current-quarter revenue below estimates on Wednesday as automakers grapple with high inventory levels due to slower-than-expected EV sales growth. Shares of the company, which counts General Motors and Merce...
22h ago
EBay forecasts quarterly revenue below expectations
(Reuters) - Ecommerce firm eBay forecast second-quarter revenue below Wall Street estimates on Wednesday, as demand cools for product categories like collector's items and auto parts. The company expects revenue in the range of $2.49 billion to $2....
22h ago
Qualcomm forecast beats estimates as AI revives smartphone market
By Stephen Nellis and Arsheeya Bajwa (Reuters) - Qualcomm on Wednesday forecast fiscal third-quarter sales and adjusted profit above Wall Street expectations, driven by a faster-than-expected recovery in smartphone markets thanks to artificial-int...
22h ago
US lawmaker probes FTC work with EU to block Amazon iRobot merger
WASHINGTON (Reuters) - The chair of the House Oversight Committee said Wednesday he is investigating the Federal Trade Commission's (FTC) work with the European Commission in the collapse of Amazon.com's plan to acquire iRobot Corp in a $1.4 billio...
May 01, 2024
Analysis-Tesla's restructuring hits executive bench hailed by Elon Musk
By Joseph White, Aditya Soni and Kevin Krolicki (Reuters) - Just over a year ago, Elon Musk shared the stage at Tesla's investor day in Texas with 16 executives who gave detailed presentations on the company's technology and growth plans, then line...
May 01, 2024
British payments group Epos Now explores possible stake sale, sources say
By Amy-Jo Crowley and Anousha Sakoui LONDON (Reuters) - British tech group Epos Now is exploring strategic options, including the sale of a minority stake in the business, four people familiar with the matter told Reuters. The Norfolk-based compa...
May 01, 2024
Abu Dhabi AI company Presight takes majority stake in tech venture AIQ
DUBAI (Reuters) - Artificial intelligence company Presight AI Holding has acquired a majority stake in AIQ, a technology joint venture between Abu Dhabi National Oil Company (ADNOC) and G42, under a new ownership structure announced by the companie...
May 01, 2024