Tech stocks fell sharply with ServiceNow down 17% due to Middle East conflict concerns, IBM and Tesla also slipping after earnings reports. However, Texas Instruments and Intel surged on strong demand and earnings. Oil prices dropped amid hopes for renewed U.S.-Iran peace talks and an extended Israel-Lebanon ceasefire. Microsoft and Meta announced significant job cuts, while Regeneron agreed to lower drug prices and offer free gene therapy to some patients. Starbucks' revamped loyalty program is driving increased customer engagement and rewards redemptions.
IBM reported it has struggled to keep up with a shift in corporate spending from software to data-center infrastructure, forecasting second-quarter earnings below analyst estimates. The company cited a significant reprioritization of capital expendit...
IBM shares dropped over 23% following its Q2 earnings report, which showed profits and revenue below analyst expectations. CEO Arvind Krishna highlighted that the company's mainframe business, particularly the Z series with AI capabilities, underperf...
Analyst Krzysztof Bogdanski initiates a Buy rating on ServiceNow, highlighting its attractive valuation at 26x forward earnings, robust subscription revenue growth of 21%, and a high 97% renewal rate. The company is accelerating AI monetization, with...
Micron reported impressive earnings and optimistic guidance, but its stock fell sharply due to concerns that its 86% gross margins and AI-driven memory price increases are unsustainable. The AI hardware sector, after rapid gains, is seeing profit-tak...
