[ad_1] International Business Machines (NYSE:) reported third-quarter earnings that beat analyst estimates, but revenue fell short of expectations, sending shares down 4.5% in after-hours trading. The technology giant posted adjusted earnings per share of $2.30, surpassing the analyst consensus of $2.22. However, revenue came in at $15 billion, slightly below the $15.04 billion analysts had forecast. Compared to the same quarter last year, revenue increased 1%, or 2% at constant currency. IBM ‘s Software segment was a bright spot, with revenue growing 9.7% YoY to $6.5 billion. The company’s Red Hat business saw a 14% increase in revenue. However, the…
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[ad_1] Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Jim Cramer is once again ringing the bell for Palantir Technologies Inc (NYSE:PLTR) fans. On CNBC’s “Mad Money,” the fiery host recommended holding on to the AI stock, saying, “There is no level that the buyers won’t take this stock higher.” But while Cramer is urging investors to ride the momentum, let’s dive into what the charts tell us ahead of Palantir’s third-quarter earnings. Chart created using Benzinga Pro Bullish Wave Continues — But Beware the Overbought Zone Palantir stock has been…
[ad_1] Action fans can thank Eva Longoria for one of the highest-grossing movie franchises of the last decade. In a recent interview for the movie’s 10th anniversary, the producers of John Wick revealed how the Golden Globe nominee came through when they lost nearly $6 million in financing for the first in the four-film franchise. “We were less than a week out, and we lost almost $6 million on a gap financing,” explained Chad Stahelski to Business Insider. “We were financing independently to get the bond, but one of the investors couldn’t raise the money in time.” As CAA was…
[ad_1] Investing.com — Tesla reported Wednesday third-quarter results that beat Wall Street estimates, driven by improved margins and said it expects to achieve “slight” growth in deliveries this year as the electric vehicle maker looks to put the ‘EV winter’ in the rearview mirror. Tesla Inc (NASDAQ:) was up more than 8% in aftermarket trading. For Q3, the company adjusted earnings per share of $0.72 on revenue of $25.18 billion, compared with Wall Street estimates of $0.60 a share and $25.4B, respectively. The bottom line was boosted by a rise in automotive sales to $20.02B from $19.63B a year earlier and…
[ad_1] The Wall Street subway stopGetty images Investors’ exposure to the S&P 500 is the highest since mid-2023, Citi strategists said. They said that level of exposure at that time was followed by a 10% slide in the following months. “The positioning risks do rise when markets get extended like this,” they said. The market is flashing warning signs of a possible stock slump as S&P 500 exposure rises, Citi says. The strategists said S&P 500 long positions are now at their highest level since mid-2023. At that time, that level of exposure to the benchmark index was followed by…
[ad_1] A Southwest Airlines Boeing 737 jet departs from San Diego International Airport en route to St. Louis on August 24, 2024 in San Diego, California. Kevin Carter | Getty ImagesActivist investor Elliott Investment Management and Southwest Airlines are close to a settlement deal that would give Elliott a sizable representation on the company’s board, according to a person familiar with the matter.The settlement could be announced as soon as Thursday, said the person. Spokespeople for Elliott and Southwest declined to comment.Elliott and Southwest as recently as last week had been girding up for a proxy fight. The activist had been…
[ad_1] A double beat on third-quarter earnings wasn’t good enough for the market. Like a can of soda going flat, there was little fizz in Coca-Cola (KO -2.07%) stock on Wednesday. Investors traded out of it on news of third-quarter results, sending the share price down to close in excess of 2%. Even the lethargic S&P 500 index did better, closing barely over 1% below Tuesday’s level. Slight beats in the third quarter In the quarter, Coca-Cola booked net revenue of $11.9 billion, which was 1% down from the same period of 2023. By contrast, non-GAAP (generally accepted accounting principles)…
[ad_1] A top executive of the Korean conglomerate that’s buying a Philadelphia shipyard pledged to bring the facility back its 1940s prominence. “We will be investing in Philly big time,” said Michael Smith, the newly named chief executive officer of Hanwha Defense USA. The yard is primarily known now for building Jones Act ships. U.S. law requires ships engaged in domestic maritime trade to be built in the United States. The yard produces about 50 percent of the largest domestically-built commercial vessels, including tankers and container ships, according to the company. Speaking at a Hudson Institute event on the defense…
[ad_1] (Bloomberg) — Transocean Ltd. is in talks to merge with rival offshore drilling contractor Seadrill Ltd., according to people familiar with the matter, just as oil explorers around the world are returning to the sea. Most Read from Bloomberg Shares of Seadrill jumped about 10% after the close of regular trading in New York while Transocean’s were up about 3.7%. Discussions are ongoing about the potential structure of a combination, said the people, who asked to not be identified because the details are private. A final decision on pursuing a deal hasn’t been made and the companies could opt…
[ad_1] Activist investor interventions with small, newly public companies can improve their stock performance, a Financial Analysts Journal study finds. In “Shareholder Activism in Small-Cap Newly Public Firms,” Emmanuel R. Pezier and Paolo F. Volpin analyze a private dataset of a UK fund’s engagements with small-cap newly public firms and demonstrate that “behind-the-scenes” engagements resulted in 8% to 10% in cumulative abnormal returns. They attribute these returns to engagements, not stock picking. I spoke with Pezier, an associate scholar at Saïd Business School, University of Oxford, for CFA Institute Research and Policy Center for insights on the authors’ findings and…