Intel shares drop on weak quarterly results and expectations for another quarter of losses

Intel CEO Pat Gelsinger stands in front of a cathedral in the German city of Magdeburg on Nov. 12, 2022. During his visit, Gelsinger also visited the planned site of the Intel Gigafactory in the Eulenberg industrial park. /dpa-Zentralbild/dpa (Photo by Peter Gercke/picture alliance via Getty Images) Peter Gercke | Picture Alliance | Getty Images Intel shares slid by as much as 7% in extended trading on Thursday after the chipmaker issued fourth-quarter results that failed to meet analysts’ estimates and gave a weaker-than-expected forecast. Here’s how the company did:…

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IBM tops revenue estimates, says it will cut 3,900 jobs

IBM CEO Arvind Krishna speaks at a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 17, 2023. Stefan Wermuth | Bloomberg | Getty Images IBM reported quarterly revenue on Wednesday that topped analysts’ estimates, driven by higher-than-expected growth in the company’s software and infrastructure segments. Here’s how the company did: Earnings: $3.60 per share, adjusted, vs. $3.60 per share as expected by analysts, according to Refinitiv. Revenue: $16.69 billion, vs. $16.4 billion as expected by analysts, according to Refinitiv. Analysts had expected IBM’s total revenue to…

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Microsoft investigating Teams and Outlook outages as thousands of users report issues

The Microsoft logo is seen at the Microsoft store in New York City. Mike Segar | Reuters Microsoft said it is investigating issues with several of its products, including Teams and Outlook. The U.S. technology giant said that users may not be able to access multiple Microsoft 365 services. “We’ve identified a potential networking issue and are reviewing telemetry to determine the next troubleshooting steps,” the company said. Downdetector, a service where people can log problems and outages with websites and apps, saw a spike in users reporting issues with…

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Microsoft’s forecast suggests gloomy tech environment will continue

Microsoft CEO Satya Nadella leaves the Elysee Palace after a meeting with the French President Emmanuel Macron in Paris on May 23, 2018. Aurelien Morissard | IP3 | Getty Images Microsoft executives on Tuesday told analysts to expect a continuation of the weak pace of business that emerged in December, which hurt the software maker’s fiscal second quarter results. “In our commercial business we expect business trends that we saw at the end of December to continue into Q3,” Amy Hood, Microsoft’s chief financial officer, said on a conference call.…

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Microsoft set to report earnings after market close

Microsoft CEO Satya Nadella speaks at the company’s Ignite Spotlight event in Seoul on Nov. 15, 2022. Nadella gave a keynote speech at an event hosted by the company’s Korean unit. SeongJoon Cho | Bloomberg | Getty Images Microsoft will report fiscal second-quarter results after the close of regular trading on Tuesday. Here’s what analysts are expecting: Earnings: $2.30 per share, adjusted, according to Refinitiv. Revenue: $52.96 billion, according to Refinitiv. Sales growth is expected to come in at just 2.3% year over year, which would be the weakest expansion…

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Microsoft announces multibillion-dollar investment in ChatGPT-maker OpenAI

Microsoft CEO Satya Nadella speaks at the company’s Ignite Spotlight event in Seoul on Nov. 15, 2022. SeongJoon Cho | Bloomberg | Getty Images Microsoft announced on Monday a new multiyear, multibillion-dollar investment with ChatGPT maker OpenAI. Microsoft declined to provide a specific dollar amount. Semafor reported earlier this month that Microsoft was in talks to invest $10 billion. The deal marks the third phase of the partnership between the two companies, following Microsoft’s previous investments in 2019 and 2021. Microsoft said the renewed partnership will accelerate breakthroughs in AI…

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Texas Instruments replaces CEO Rich Templeton with current operating chief Havav Ilan

Richard Templeton, chairman, president and chief executive officer of Texas Instruments Inc., speaks during a House Science, Space and Technology Committee hearing in Washington, D.C., U.S., on Wednesday, Feb. 6, 2013. The hearing was titled “American Competitiveness: The Role of Research and Development.” Andrew Harrer | Bloomberg | Getty Images Texas Instruments on Thursday announced that its CEO for almost 19 years, Rich Templeton, will step down on April 1 as Haviv Ilan, its chief operating officer, replaces him. Templeton will remain the chipmaker’s executive chairman.Texas Instruments stock was flat…

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Amazon, Meta and Google buy more clean energy than any other companies

Google headquarters is seen in Mountain View, California, United States on September 26, 2022. Tayfun Coskun | Anadolu Agency | Getty Images Technology companies are leading the charge of companies buying wind and solar power. Amazon, Facebook parent company Meta, and Google, owned by parent company Alphabet, are the top three corporate purchasers of wind and solar energy, according to a report published Wednesday from the American Clean Power Association, an industry group. Amazon had contracted 12.4 gigawatts of clean wind and solar energy in the United States through September…

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Apple just announced a new $299 HomePod

Apple’s second-generation HomePod Apple Apple announced the second generation of its HomePod on Wednesday. It costs $299. The second-generation HomePod follows the first generation, which Apple discontinued in 2021 in favor of the smaller and more affordable HomePod mini. The original HomePod launched at $349 and never gained the traction of cheaper Amazon Echo or Google Nest products. Apple cut the price in 2019 to $299. The latest HomePod allows users to create smart home automations using Siri, check the temperature and humidity of their homes and get alerts when…

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Microsoft is laying off 10,000 employees

Microsoft CEO Satya Nadella speaks at the company’s Ignite Spotlight event in Seoul on Nov. 15, 2022. SeongJoon Cho | Bloomberg | Getty Images Microsoft said Wednesday that it’s letting go of 10,000 employees through March 31 as the software maker braces for slower revenue growth. The company is also taking a $1.2 billion charge. Alphabet, Amazon, and Salesforce are among the technology companies that have lowered headcount in recent weeks. The contraction comes after demand for cloud-computing and collaboration services picked up as enterprises, government agencies and schools encouraged…

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