Alibaba earnings highlight ‘attractive turnaround story,’ though stock gives back gains

Alibaba earnings highlight ‘attractive turnaround story,’ though stock gives back gains

Alibaba Group Holding Ltd.’s shares looked to be giving back their post-earnings gains in Friday trading, but analysts generally had praise for the Chinese e-commerce giant’s latest results. The company reported essentially flat revenue growth for its June quarter on Thursday morning, while signaling an improvement in business trends as the period wore on as … Read more

AMD stock slips as revenue forecast dips below Street consensus

AMD stock slips as revenue forecast dips below Street consensus

Advanced Micro Devices Inc. shares declined in the extended session Tuesday after the chip maker’s revenue forecast fell below the Wall Street consensus after posting record sales, topping Street expectations and reporting a huge surge in data-center sales. “Taking a step back, while there has been additional softness in the PC market in recent months, … Read more

PayPal stock jumps 12% as company confirms Elliott stake and names EA exec as new CFO amid earnings beat

PayPal stock jumps 12% as company confirms Elliott stake and names EA exec as new CFO amid earnings beat

After seeing its shares lose roughly two-thirds of their value in the past year, PayPal Holdings Inc. delivered a packed earnings report Tuesday, announcing a new chief financial officer, buyback authorization and cost-savings program, while also confirming that activists at Elliott Management Corp. have taken a stake in the company. Additionally, the company topped expectations … Read more

Opinion: Big Tech shows its good to be big, as growth slowdown leads to stock gains while smaller rivals find only pain

Opinion: Big Tech shows its good to be big, as growth slowdown leads to stock gains while smaller rivals find only pain

After super charged, double-digital growth during the pandemic, the results from the five biggest US tech giants this week showed a slowdown as they grapple with inflation, looming recession and an overall slowing economy, but they were largely rewarded by Wall Street because their size shows their strength. During the last week, all of Big … Read more

Roku stock plummets as earnings are widely panned: ‘The sum of all of our worries’

Roku stock plummets as earnings are widely panned: ‘The sum of all of our worries’

Shares of Roku Inc. were tumbling in premarket trading Friday after the streaming company acknowledged a “significant slowdown” in advertising spending that helped propel it to weaker-than-expected results and could persist beyond the latest quarter. “Consumers began to moderate discretionary spend, and advertisers significantly curtailed spend in the ad scatter market (TV ads bought during … Read more