(Reuters) -Seagate Technology forecast first-quarter revenue slightly below Wall Street expectations on Tuesday, hurt by weak demand for its storage devices amid ongoing uncertainty in the personal computer market, sending its shares down 8% in extended trading.
Despite optimism surrounding on-device AI features and an anticipated Windows 11 refresh cycle, end-market demand for PCs remains uncertain as consumers navigate a shifting macroeconomic and... (continue reading...)
Investing.com -- Booking Holdings beat Wall Street expectations for the second quarter, posting strong growth in room nights and revenue.But its shares were down 2.5% in after-hours on cautious outlook for the third quarter.
The online travel giant reported earnings of $55.40 per share, beating the consensus estimate of $50.14. Revenue rose 17% from a year earlier to $6.8 billion, ahead of the $6.54 billion forecast by analysts.
CEO Glenn Fogel said Booking (NASDAQ: ... (continue reading...)
Investing.com -- Guggenheim raised its rating on Generac Holdings (NYSE: GNRC) to Buy from Neutral and set a $190 price target, saying the company has sharpened its focus on commercial power and there are signs it may scale back its struggling residential solar business.“We believe that the potential for better performance from GNRC’s commercial business, as well as the possibility of rationalization in the troubled residential energy technology business, now merit a... (continue reading...)
Investing.com -- On Tuesday, Kering reported a sharp 18% year-on-year decline in second-quarter revenue to €3.7 billion, slightly below the €3.96 billion consensus estimate from LSEG analysts.
The drop was driven by broad-based weakness across its key fashion houses and a downturn in both retail and wholesale channels, compounded by declining tourism in key markets.
On a comparable basis, revenue fell 15%, with a further 3% drag from unfavorable currency effects.
Investing.com -- Apple Inc (NASDAQ: AAPL). has lost another key artificial intelligence researcher to Meta Platforms (NASDAQ: META) on Friday, when Bowen Zhang departed to join Meta’s newly formed superintelligence team, according to a Bloomberg report on Tuesday.
Zhang worked on multimodal AI in Apple’s foundation models group (AFM). He is the fourth researcher from Apple’s AFM team to leave for Meta in recent weeks. The exodus began with team leader Ruoming Pang, who... (continue reading...)
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