Semiconductor Manufacturing International Corporation (SMIC) recently warned of intense competition in the chip industry after its first-quarter profit missed expectations. The company acknowledged that competition in the industry has been increasingly fierce and pricing for commodity products typically follows market trends. This indicates a challenging environment for SMIC as they navigate through the competitive landscape
Enterprise
Recently, a House committee has requested the presence of Brad Smith, Microsoft’s top lawyer, in a hearing scheduled for later this month. The purpose of this hearing is to address the exploits of Microsoft’s software that have led to hackers gaining access to the emails of U.S. government officials. This is not an uncommon occurrence,
Activist Politan Capital has responded to Masimo’s settlement offer by proposing to add two new directors to the company’s board. In a letter viewed by CNBC, Politan stated that they would not engage in a proxy fight to remove Masimo CEO Joe Kiani if the company agreed to appoint their nominees. The original settlement offer
Reddit’s shares experienced a significant surge of 14% in after-hours trading following the release of its quarterly results, marking the first financial report since the company’s IPO back in March. The company’s performance exceeded expectations, reporting a loss per share of $8.19, compared to the anticipated $8.71 loss by LSEG. Furthermore, Reddit’s revenue for the
Food waste is a significant issue in the United States, with a large portion of it ending up in landfills instead of being consumed. This excess waste not only contributes to environmental issues such as climate change but also leads to unnecessary production, packaging, storage, and delivery requirements. One recent study revealed that food production
Palantir Technologies, a defense tech firm known for its big-data and artificial intelligence software, experienced a significant drop in its share price following the release of its latest financial results. The company reported earnings per share of 8 cents, which matched expectations, but fell short in terms of revenue, posting $634 million in revenue compared
Investment director Mark Hawtin from GAM Investment Management provided a critical viewpoint on Tesla’s progress towards rolling out its advanced driver-assistance feature in China. He emphasized that expectations surrounding Tesla’s Full Self Driving service are misleading, noting that it does not offer full autonomous driving capabilities as many are led to believe. Hawtin highlighted that
Coinbase recently reported its first-quarter earnings, surpassing market expectations. The company’s revenue stood at $1.64 billion, exceeding the anticipated $1.34 billion. This success was further highlighted by the net income of $1.18 billion, resulting in earnings of $4.40 per share. The significant improvement from the previous year’s loss of $78.9 million reflects Coinbase’s dedication to
Bitcoin recently experienced a significant drop to its lowest level in over two months, as broader risk-off sentiment permeated the markets. The world’s top digital currency by market value fell below $57,000 for the first time since February 28, reaching as low as $56,757.93. This decline of 6.3% on Wednesday brought Bitcoin’s price down to
As Amazon prepares to report its first-quarter earnings after the bell on Tuesday, analysts are anticipating an earnings per share of 83 cents and revenue of $142.5 billion. This comes amid a backdrop of continued growth and success for the tech giant, with Wall Street eagerly awaiting the release of these crucial figures. Apart from